The Future of Offshore Oil and Gas Exploration in Namibia
As oil and gas continue to be resilient in the face of challenges, the African Energy Chamber (AEC) is focusing on offshore oil and gas drilling programs and licensing opportunities in Namibia. Maggy Shino, Namibia’s Petroleum Commissioner, recently disclosed upcoming offshore licensing opportunities and plans to drill seven wells this year during a webinar hosted by AEC alongside Namibia’s Ministry of Mines and Energy and Wood Mackenzie.
Shino emphasized the country’s commitment to offering a sustainable operating environment and making a lasting impact on the local economy as it moves towards first oil production. Namibia’s offshore oil and gas sector is expected to attract fresh investment in 2025, solidifying its position as a promising oil frontier.
Ian Thom, Research Director for Sub-Saharan Africa Upstream at Wood Mackenzie, highlighted the vast potential of Namibia’s offshore license acreage, which remains largely underexplored. With companies like BW Energy and Rhino Resources planning drilling activities, the country’s exploration efforts are set to expand.
Namibia’s open licensing regime offers opportunities in deepwater, ultra-deepwater, and shallow-water environments. Companies like TotalEnergies and Shell are actively involved in exploring new prospects and advancing projects towards final investment decisions.
Verner Ayukegba, Senior Vice President of the African Energy Chamber, emphasized the importance of understanding sub-surface conditions, gas content, and commercialization strategies for the discovered resources. Chevron and Pancontinental are among the companies showing interest in Namibia’s offshore acreage, signaling a growing appeal in the region.
With ongoing exploration activities and upcoming drilling campaigns, Namibia’s offshore energy sector is poised for significant growth in the coming years. The country’s efforts to attract investment and drive exploration demonstrate its potential to become a key player in the global oil and gas industry.