Namibia Petroleum Operators Association representative Eduardo Rodriguez says Namibia has done a commendable job in terms of attracting investors.

Rodriguez, however, stated production could take up to 15 years after final investment decision is made.

Rodriguez made the comments following the association's meeting with parliamentary standing committees on natural resources and economy, industry, public administration and planning.

He says despite oil discoveries in the Orange Basin, about 75% of land remains unexplored with the potential to further drive the country's oil sector.

Twenty-six wells have been drilled in four years with cooperation from government stakeholders.

“Namibia, we can consider it an operational success case. Exploration appraisal wells have been drilled in a little bit less than four years, which is truly remarkable task. And that could have been done without the cooperation of all the government-related stakeholders that have been working with us, having had to achieve this tremendous task.”

Rodrigues emphasised that Namibia has been doing well, both in terms of government and industry alignment around such projects.

He highlighted that it is crucial for Namibia to encourage investment into exploration to improve the chances of success towards a final investment decision.

"We are sharpening the blade every time. We need to keep it sharp to make Namibia the most competitive country in the whole world to attract the most investment possible. And I think we are on that path."

The Chairperson of the Parliamentary Committee on Natural Resources, Tobie Aupindi, pointed out that extracting raw material for only export purposes is not acceptable.

“Natural resources do not create processes. They create responsibility. History is unforgiving at this point. Nations that manage their resources will rise, and do not fall into instability, inequality, and conflict. So Namibia must choose its path deliberately and wisely.”