Not “if” but “when” Namibia finds oil

Manica Group Namibia attended the International Oil and Gas conference, held last week in Swakopmund. The event attracted specialists from Ghana, South Africa, Nigeria, Senegal, Tanzania, France, the US and Brazil to share their experiences and lessons learned. Delegates represented the different oil majors, development financing, exploration and petroleum experts and government officials. The conference dealt with various aspects of the oil and gas industry, from exploration to drilling to processing to value adding. Topics ranged from legal frameworks, petro-chemical engineering, financing, local content and capacity building, logistics and sustainability.

Opening the conference, the Minister of Mines and Energy, Tom Alweendo, emphasised the importance of partnerships in the oil and gas industry. Partnerships and the importance of local content constant themes in many of the panel discussions at the conference. The various panel discussions added an optimistic ambiance to the future of Namibia’s oil and gas industry and it was uttered by more than one delegate, that it was not a matter of “if” but “when” Namibia finds commercially viable oil.

Namibia’s Petroluem Company, Namcor also used this event to sign a farm-in agreement with ExxonMobil, effectively increasing the oil major’s exploration acreage in Namibian waters to four blocks. The blocks extend about 215km from the shoreline in water depths up to 4,000 meters. Exploration activities are planed for later this year.

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