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Namibia’s Minister Harps on Investment, Exploration, Regional Collaboration

With commitments made by top energy Ministers from all over Africa, African Energy Week (AEW) 2021 in Cape Town has been augmented as the official platform for discussions on Africa’s energy future. Hon. Tom Alweendo, Minister of Mines and Energy of Namibia, represents the most recent Ministerial confirmation for Africa’s premier energy event, with his attendance and participation confirmed through an official letter from the Ministry. With Namibia’s potential oil boom comprising a hot topic for African stakeholders, the Minister will promote the significant investment opportunities present in the country, introducing investors, industry executives, and global stakeholders to one of Africa’s final hydrocarbon frontiers.

Having served as Minister of Mines and Energy since 2018, Hon. Alweendo has been instrumental in driving frontier exploration and production in Namibia’s promising basins. The country’s proven reserves – estimated at 11 billion barrels of oil and 2.2 trillion cubic feet of natural gas – have been a major attraction for both regional and international oil companies, warranting the influx of activity in the country.

Notable sector participants include Tullow Oil pc, who is exploring Namibia’s offshore basins; ExxonMobil, currently exploring the frontier Namibe Basin in partnership with the National Petroleum Corporation of Namibia (NAMCOR); Qatar Petroleum and Shell, who have exploration campaigns in Block 2913A and 2914B; Africa Oil Corp and TotalEnergies, currently operating the Venus exploration well; and Reconnaissance Energy Africa, who’s drilling campaign indicated that Namibia’s 6.3 million-acre Kavango Basin may hold billions of barrels of oil.

In addition to promoting the country’s sizeable reserves, Hon. Alweendo has been highly effective in establishing an enabling environment for investors, ensuring a favorable regulatory landscape that provides the backbone of Namibia’s energy sector while positioning the country as a highly competitive African investment destination. With major regional competitors in Africa – such as South Africa, Angola, and Gabon – Namibia has had to be proactive in its sectoral competitiveness, and has, therefore, used market-driven policies and progressive fiscal terms to create the condition for foreign and private sector investment. Accordingly, the Minister will drive a strong discussion on the value of regulation, drawing an increasing number of investors into Namibia.

“Namibia will be a major player in Africa’s energy development and AEW 2021 will showcase the country to the world. Rather than abandon the continent for international venues, Namibia has joined so many other African Ministers in coming to Cape Town, emphasizing that any discussion regarding Africa must take place in Africa. Hon. Alweendo has been incredibly effective in driving exploration in Namibia, and he will drive a valuable discussion on the role that oil and gas will play in Africa. Leading a delegation from one of Africa’s most promising hydrocarbon markets, and hosting a pavilion at AEW 2021 in Cape Town, Hon. Alweendo will place Namibia at the center of Africa’s energy dialogue,” stated NJ Ayuk, Executive Chairman of the African Energy Chamber.

Led by Hon. Alweendo, a strong Namibian delegation will come to AEW 2021 in Cape Town, promoting the value of Namibia’s energy sector transformation for the entire southern African region. This delegation includes Maggy Shino, Namibia’s Petroleum Commissioner, Immanuel Mulunga, Managing Director of the NAMCOR, and Shakwa Nyambe, Managing Director, Association of International Petroleum Negotiators (AIPN)– Africa Chapter and Founder and Managing Director of the Namibian law firm Shakwa Nyambe & Company Inc. With an emphasis on local content, technical and regulatory affairs, and exploration and production, both Hon. Alweendo and the entire Namibian delegation are committed to accelerating hydrocarbon development in the country, attracting investors to its promising sector.

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