The Deputy Minister of Industries, Mines, and Energy, Gaudentia Kröhne, has said Namibia's long-term strategy for oil production is anchored in a balanced approach, recognising national development priorities and the global momentum towards energy transition.

This was the response to a question raised by the leader of the Body of Christ Party, Festus Thomas, regarding the direction in which Namibia's oil sector is headed.

The Deputy Minister said the government's commitments are responsibly aligned with the discovery of recent oil discoveries to generate revenue, create jobs and strengthen energy security.

"Our strategy is oriented towards the design of our low-emission-based oil fields with maximum efficiency. At the same time, our focus is on building local skills, industrial capacity and low-emission technologies. We plan to channel our oil revenues into economic diversification and to offset emissions through renewable energy."

Kröhne said that the country uses its petroleum wealth as a catalyst for sustainable, broad-based growth.

Regarding the country's oil reserves, she says oil discoveries are currently at the appraisal stage, with no official proven reserve estimate declared.

"No official reserve estimates have been declared yet. What we do have are encouraging reserve source estimates reported by exploration companies, which must still undergo further drilling, testing and independent certification before they can be classified as proven reserves.