Namibia Oil and Gas conference highlights investment, local benefits

The third Namibia Oil and Gas Conference opened in Windhoek today, with Deputy Prime Minister Natangue Ithete describing recent offshore oil and gas discoveries as a “generational opportunity.” He said that there is a need for unity, strong governance, and environmental responsibility to ensure Namibians benefit fully from the sector’s growth.

Ithete noted that oil and gas production has the potential to generate up to N$7.7 billion annually in government revenue through royalties and taxes. “Every barrel, every cubic foot must translate into jobs, infrastructure, and opportunities for Namibians,” he said. He assured that the revenue would not be squandered but invested in building schools, powering homes, and seeding Namibia’s renewable energy future.

The opening day’s discussions centred on unlocking investment opportunities, building local capacity, and ensuring equitable benefits from oil and gas developments.

Day two of the conference continued with high-level addresses from government, industry, and international leaders, highlighting Namibia’s rising profile in the global energy sector. President Netumbo Nandi-Ndaitwah and Deputy Prime Minister Natangue Ithete reiterated the role of energy as a driver of national growth.

A N$1 million memorandum of understanding was signed between RMB and the PetroFund to boost local skills development. Sessions also explored new bid rounds, recent exploration successes, and the role of natural gas in shaping Namibia’s energy future.

— Reporting by Angie Scholtz, Future Media News, Windhoek