NIPDB shares rising confidence over Namibia’s predicted 2028 oil decisions

By Eric Mhunduru

The Namibia Investment and Development Board has expressed optimism in the local oil and gas sector’s success following anticipated announcements of final investment decisions around 2028.

The board’s Acting Executive for Investments, Ndapewa Hangula said such news solidifies confidence in the local oil and gas sector’s potential.

The confidence soared following regulatory approval for TotalEnergies to acquire an operated interest from Galp in the Mopane discovery petroleum exploration licence 83.

The oil exploring companies have also submitted a field development plan for a massive 750-million-barrel Venus project.

Hangula emphasises that now is the critical time for Namibians to prepare for the influx of commercial activity in the oil and gas sector.

“We are excited to see or to move closer to the actual time when that decision or that announcement will be made, and what that would really mean is that now is the time to participate in the oil and gas sector. 

“This would mean that we are moving from exploration to the actual investment being deployed in the country, and that will bring a lot of activities into the country, so we need to be ready and prepared for those activities,” she said.

Hangula said the board is actively bridging the gap between global operators and local small and medium enterprises while collaborating with stakeholders like the PetroFund to form a skills-base for the oil and gas sector.

“We have collaborated to host a supplier day that was hosted earlier this year, I believe it was in May, where we brought operators and of course SMEs into the same room to try and give them guidance for them to understand what is required by the industry, what certifications do they require, what skills are needed, and how do they prepare as Namibian businesses,” she said. 

Several calls have been made for local institutions of higher learning to offer skills related to the emerging oil and gas sector, to avoid these opportunities being taken up by foreign nationals.

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