Photo caption: Oil platform
Namibia, the southwestern African country that has become an exploration hotspot for the supermajors, is moving to consolidate control over the oil resources and nascent industry under the president’s office.
Namibia’s government has proposed an amendment to the country’s Petroleum Act, Defense and Veterans Affairs Minister Frans Kapofi, who is also acting Minister of Industries, Mines and Energy, has told the lawmakers.
The proposed amendment is aimed at providing for “the transfer of certain powers” from the energy minister to the president and to the director-general of the upstream petroleum unit in the presidency, Kapofi said, as carried by Bloomberg.
Namibia’s President Netumbo Nandi-Ndaitwah has reorganized the energy ministry and the ministerial powers in recent months, to ensure continuity and effective coordination within the key petroleum sector in the country hoping to become the world’s next oil producer and exporter.
Oil and gas supermajors, including Shell, TotalEnergies, BP, and Portugal-based energy firm Galp, have made large discoveries offshore Namibia.
Shell’s Graff and TotalEnergies’ Venus discoveries have launched the exploration rush in Namibian waters.
Last month, BP confirmed an oil and gas discovery in the Orange basin offshore Namibia.
Namibia hopes to become the next Guyana, but it lacks infrastructure to fast-track the discoveries, which make them more expensive and difficult to develop and monetize.
Namibia is weighing potential further incentives and financing options to offer to international majors preparing plans for oil production offshore the African country.
Earlier this year, a senior official said that Namibia expects TotalEnergies and Norway’s BW Energy to take final investment decisions on oil projects in late 2026.
Last week, SLR Consulting, on behalf of TotalEnergies and its joint venture partners, invited comments on the environmental and social impact assessment (ESIA) of the proposed development of the offshore Venus field. The comment period runs until December 3.
=== Oilprice.com ===
