PPSV Exhibits at the Oil and Gas Conference: Namibia's Emerging Role in Global Oil and Gas Markets

Namibia, with its recent significant oil discoveries, is rapidly establishing itself as one of Africa's final frontiers for oil exploration. The vast natural resources beneath its waters are estimated to contain 11 billion barrels of oil and 2.2 trillion cubic feet of natural gas reserves. These promising numbers indicate a remarkable opportunity for the country to become a central hub for upstream oil and gas exploration, positioning itself as a formidable player in the global oil and gas market.

At the heart of this oil boom, Namibia's burgeoning oil and gas sector has the potential to address the country’s long-standing energy poverty and fuel broad-based economic transformation. For a country with a relatively small economy, these reserves present a game-changing opportunity to both meet local energy needs and stimulate growth.

The catalyst for Namibia’s oil exploration journey came in February 2022 when the National Petroleum Corporation of Namibia (NAMCOR), in partnership with Shell Namibia Upstream B.V. and Qatar Energy, announced a groundbreaking discovery of light oil at the Graff-1 well offshore Namibia. This significant find marked the beginning of a new chapter for the country's oil and gas industry. In the wake of this discovery, TotalEnergies also made a remarkable discovery in Block 2913B in the Orange Basin, adding to Namibia's allure for international exploration companies.

Despite the world’s increasing focus on renewable energy in a bid to decarbonize economies, oil and gas still remain crucial energy sources. The global oil and gas market continues to experience significant growth, projected to rise from $6,989.65 billion in 2022 to $7,330.80 billion in 2023 at a 4.9% compound annual growth rate (CAGR). This growing demand, coupled with Namibia’s rich hydrocarbon resources, is set to drive more international oil corporations (IOCs) toward the country, positioning Namibia as the “New Frontier” in oil exploration.

However, to fully unlock the economic potential of these valuable resources, Namibia must focus on building the necessary legal, infrastructure, and human resource capacity to support the development of a thriving oil and gas industry. This process will require careful planning, extensive consultation, and collaboration between government, private sector stakeholders, and civil society to ensure sustainable and broad-based growth.

In recognition of these opportunities and challenges, Namibia hosted the Namibia Oil and Gas Conference, a key event designed to bring together the country's energy stakeholders, policymakers, and industry leaders. Through partnerships with the Economic Association of Namibia (EAN), Namibia Investment Promotion and Development Board (NIPDB), and the Hanns Seidel Foundation (HSF), alongside NAMCOR, the conference provided a platform for discussions on the potential, risks, and opportunities for establishing a robust oil and gas sector in Namibia.

The Namibia Oil and Gas Conference is more than just a gathering of industry professionals; it is a collaborative effort to shape the future of Namibia’s energy landscape, ensuring that the country’s oil and gas resources are developed in a way that benefits all Namibians. With strong engagement and collaboration between stakeholders, the full potential of Namibia’s oil and gas sector can be realized, transforming the country into a major energy player on the global stage.

We are proud to have exhibited at the Africa Energy Indaba and look forward to continued involvement in future events that drive Namibia’s energy development.

View the exhibitors at the Namibia Oil and Gas Conference:
Exhibitors

Stay tuned for more updates on Namibia’s oil and gas journey and PPSV’s role in shaping this exciting new frontier!