Namibia expects firmer estimates of recoverable reserves to be announced this financial year and aid in addressing socio-economic challenges such as unemployment.
President Nangolo Mbumba, who delivered the State of the Nation Address this afternoon, says this follows oil exploration activities by international companies in 2023.
A Brazilian delegation headed by Ambassador Carlos Duarte, Secretary for Africa and the Middle East in the Ministry of Foreign Affairs, has concluded an official visit to Namibia.
The visit is part of President Luiz Lula da Silva's initiative to re-engage Africa as a priority in Brazilian foreign policy.
The primary objective of the visit was to explore collaborative solutions to the challenges faced by both nations.
Ambassador Eduardo emphasised the importance of mutual learning, particularly in areas of common interest.
The Namibian government wants the partnership with Qatar Energy to go beyond the exploration stage.
Saad bin Sherida Al Kaabi, Qatari Minister of State for Energy, paid a courtesy call on President Hage Geingob at State House.
Qatar Energy, through partnerships with Total Energies and Shell, has made substantial oil discoveries from offshore drilling in the Orange Basin.
Last month, the two companies announced that the oil discoveries are of commercial quantities and are projected to be in the range of one billion barrels.
