MTC_banner

 

Image removed.

 

Namibia still has a journey of at least four years before it is expected to produce its first commercial oil, from reserves discovered in the Kavango Basin.

The Petroleum Commissioner in the Ministry of Mines and Energy, Maggie Shino suggested this at the second edition of the Namibia University of Science and Technology's lecture series on petroleum activities in Namibia.

Shino says additional drilling will start as soon as next month and results of tests into commercial viability are expected within months.

The entire process leading up to Namibia setting eyes on its first drop of oil sold will take a while to complete, she says.

The oil and gas sector is expected to bring solutions to the country's high unemployment rate as it is envisioned to create jobs, provide skills, attract investors and lift citizens out of poverty.

In addition, Shino said the sector would ensure energy security, provide additional revenue and increase competitiveness in terms of investors. 

Challenges to consider, include a disruption of the area's biodiversity and the risk of poisoning aquifers, among others. 

Advisory member of the Namibia Investments Promotion and Development Board, Vetumbuavi Mungunda says Namibia has to date spent about N$1,2 billion in developing the sector, with little to show.

-
Photo Credits
Energy Capital & Power

Category

Author
Lucia Nghifindaka