Namibia could see an oil boom thanks to several major discoveries that suggest there could be more oil yet to come.
In June 2029, the Namibian government pays N$200 000 to 500 000 households from oil tax revenue. Desperate to win elections later that year, the ruling party raids the sovereign wealth fund and mortgages future oil revenue to afford the N$100 billion payout.
In June 2029, the Namibian government pays N$200 000 to 500 000 households from oil tax revenue. Desperate to win elections later that year, the ruling party raids the sovereign wealth fund and mortgages future oil revenue to afford the N$100 billion payout.
Shell has made a fourth hydrocarbon discovery offshore Namibia, one of the hot spots in offshore exploration right now.
Recently, a number of headlines recently have referred to the world’s “hottest frontier oil play,” a site of massive oil and gas finds with great promise for investors
Qatar’s state-owned energy giant QatarEnergy and Namibia’s Ministry of Mines and Energy have signed a Memorandum of Understanding (MoU) with the aim of strengthening cooperation in the energy sector.
Oil and gas exploration in Namibia are the talk of the global town, following significant discoveries in the offshore Orange Basin last year, which is creating expectations of massive future government oil revenue.
Shell Upstream Namibia BV, a subsidiary of Shell Plc, is advancing drilling offshore Namibia with delivery of Northern Ocean Ltd.’s Deepsea Bollsta semisubmersible drilling rig.
TotalEnergies has made a significant discovery of light oil on the Venus field offshore southern Namibia
In addition to promoting local company collaboration, the Minister will emphasize the role of IOCs in driving energy sector growth.