The Namibian government will continue to encourage and support local investors to actively participate in the energy sector.

This was reiterated by the Minister of Mines and Energy, Tom Alweendo, at an information-sharing session at Keetmanshoop on the discovery of oil in the ||Kharas Region.

Alweendo says the discovery of oil offshore the Namibian southern coast—estimated at between 300 and 400 million barrels—and its successful development hold direct and indirect benefits for Namibians.

"But I think for us it's even more important that we make sure that we do not only concentrate on the revenue that is going to come from the resource itself, but we need to make sure that the services that are going to be provided to the new industry are provided from within the local economy by the local entrepreneurs, and I think that is where most of the economic benefits can come from in addition to what we get from the selling of the oil."

||Kharas Governor, Aletha Fredericks, called on young people to position themselves and take advantage of the discovery of oil and gas by enrolling in institutions of higher learning.

"Equally, the higher institutions also play a very important role. Having UNAM Southern Campus, NIMT, and NUST at our disposal is very important for us to utilize those services for us to be able to also be part of the sector when the time is right. Therefore, I am calling on the young people to make sure they are part of information-sharing sessions because that is where they get all the information that is needed."

The discovery of oil, the ministry says, will increase state revenue through rights, rental payments, taxes, and royalties.