Namibia is on course to become one of Africa’s leading oil producers by 2035, potentially surpassing Egypt in output, with projections indicating a production capacity exceeding half a million barrels of oil per day. This development marks a significant shift in Africa’s energy landscape, as the country capitalises on recent discoveries in the Orange Basin.
Ebson Uanguta, the interim managing director of the National Petroleum Corporation of Namibia (NAMCOR), made these remarks at the Namibia Oil and Gas Conference held in Windhoek, the nation’s capital. Uanguta underscored the strategic importance of these discoveries, which are set to position Namibia as a formidable new player in the continent’s oil sector.
“By 2035, with the deployment of four floating production storage and offloading (FPSO) units, we anticipate producing in excess of 500,000 barrels per day of oil equivalent,” Uanguta stated. Should these projections be realised, Namibia could join the ranks of Africa’s top oil producers, rivalling established giants such as Nigeria, Angola, and Libya.
At present, Egypt’s oil production stands at approximately 500,000 barrels per day, a figure that Namibia is on track to eclipse, contingent on the successful execution of its planned projects. The potential rise in output is being driven by intensified exploration and development activities, underpinned by advancements in deep-water extraction technologies.
Uanguta emphasised that these efforts are not only crucial for the energy sector but also hold significant implications for Namibia’s broader economic trajectory. The anticipated boost in oil production is expected to act as a catalyst for the country’s economic growth, potentially transforming Namibia into a key energy hub in the region.
Looking ahead, Uanguta revealed that NAMCOR is maintaining an optimistic outlook for the sector, with a series of exploration and appraisal initiatives scheduled for 2024 and 2025. These initiatives are expected to further solidify Namibia’s position in the global energy market, as the country continues to attract interest from major international oil companies.
As Namibia edges closer to achieving this milestone, the country’s burgeoning oil industry is set to reshape the dynamics of Africa’s energy production, with far-reaching implications for the continent’s geopolitical and economic landscape.
