With the recent discoveries of oil and gas in the country, the Ministry of Mines and Energy is working hard to ensure that the resources are safeguarded and that policies are put in place so that all Namibians can benefit from them.

Speaking at the National Stakeholders Workshop on the Draft Local Content Policy in the capital, the Minister of Mines and Energy emphasised that inclusivity and transparency should be some of the key guiding points when drafting the policy.

The Minister of Mines and Energy, Tom Alweendo, said that although putting policies on paper is important, the work and dedication put in should ensure that every operation works ethically.

"I am also equally aware that designing an LCP is complex and that each LCP must necessarily reflect our realities and priorities. We need an LCP that will facilitate economic diversification and deepen backward and forward linkages from various segments of the oil and gas sector value chain, thereby fast-tracking our industrialization. For that to happen, our LCP must-have elements that promote job creation for Namibians, accelerate industrialization through in-country value creation, and strengthen local entrepreneurship through enterprise development, skills, and technology transfer. It shall thus be a requirement for international companies that would participate in the Namibian oil and gas sector to be fully conversant with the LCP."

Petroleum Commissioner Maggy Shino highlighted that although the country has been discovering gas since 1974 through the Kudu Gas Field, the next exploration could only be drilled in 1993.

She says the recent discoveries can take years for Namibia to yield benefits.

"It is an exercise that can equally take another three years to get to the development phase. Depending on the challenges of the environment you are in, it can take between five and ten years. There are countries where it can take up to five years. There are also countries that have made discoveries and started development 15 years down the line, but they have not been able to complete the development stage."

Shino said that to achieve success and benefit from the oil and gas discoveries, all Namibians should work together to make sure that the drafting of the policy safeguards the hard work put in to capitalise and contribute to the economy.

This will further make meaningful contributions and prepare Namibia to build capacity and play on par with international markets.