Namibia’s energy sector is witnessing a surge in investment, fueled by substantial oil discoveries and a growing focus on green hydrogen. Prominent oil companies, including TotalEnergies and Shell, are actively engaged in exploring and developing the country’s offshore oil reserves.
The European Union is providing significant funding to bolster Namibia’s green hydrogen initiatives and renewable energy projects. Meanwhile, the energy minister has underscored the vital role of oil and gas revenues in driving economic growth and reducing poverty.
In recent years, Namibia has attracted considerable investment due to promising oil finds, particularly in the Orange Basin, Luderitz, Kavango, and Walvis basins. TotalEnergies and Shell have announced discoveries amounting to an estimated 2.6 billion barrels of crude, with plans to initiate production by the end of the decade.
Chevron is also set to begin exploration this year after securing an 80% operating interest in an offshore block in the Walvis Basin. Additionally, Eni and BP’s Azule Energy, along with Rhino Resources Namibia, will explore opportunities in the Orange Basin.
Portuguese firm Galp has completed the initial phase of exploration on its Mopane wells, estimating the field could contain over 10 billion barrels of crude. To date, 12 major oil companies have expressed interest in Namibia’s promising oil assets.
