At the Namibia International Energy Conference (NIEC) on April 23, industry leaders from Chevron, the National Petroleum Corporation of Namibia (NAMCOR) and Rand Merchant Bank (RMB) outlined critical developments in the country’s oil and gas sector. These statements reaffirmed Namibia’s ambition for first oil production by 2030, underscoring the importance of local content development, infrastructure and investment to realize the country’s energy potential.
Chevron’s Country Manager for Namibia, Channa Kurukulasuriya, outlined the company’s significant milestones in Namibia’s oil and gas sector. “We completed our geological survey in 2023, and in December 2024, we drilled with zero harmful incidents, showing our commitment to safe operations,” said Kurukulasuriya. He pointed to the company’s recent entry into PEL 82, just two years after launching operations in Namibia, as a strong signal of Chevron’s long-term commitment to unlocking Namibia’s energy potential.
Rapid progress in both the Orange Basin and Walvis Bay Basin reflects Chevron’s deepening ties with Namibia and its strategic role in the country’s broader energy ambitions. The company’s success in its initial phases provides confidence that Namibia is on track to become a significant player in the global energy market.
Victoria Sibeya, Interim Managing Director of NAMCOR, shared the national oil company’s evolving role, transitioning from a regulatory body to a pivotal exploration partner. She also highlighted the company’s focus on building local capacity and fostering partnerships with international companies to maximize Namibia’s energy potential. “Our focus is on leveraging local resources to benefit Namibian communities – attracting investment to build local skills and infrastructure that directly addresses our country’s energy needs.”
Philip Chapman, CEO of RMB Namibia, emphasized the importance of collaboration between financial institutions and energy stakeholders in driving Namibia’s oil and gas sector forward. “Offshore discoveries present immense growth potential, and at RMB Namibia, we are committed to providing tailored financial solutions that empower both global and local enterprises to unlock opportunities across every stage of the energy value chain,” he said.
With financial backing crucial for advancing Namibia’s energy sector, RMB’s commitment to providing strategic funding solutions plays a pivotal role in ensuring that exploration leads to sustainable production. Chapman’s comments reflect the importance of robust financial partnerships in supporting Namibia’s energy ambitions and fueling both domestic and international investment.
Namibia’s Oil and Gas Sector: A Growing Opportunity
While Namibia has already seen major discoveries in the Orange Basin, the focus is now shifting toward expanding exploration activities, developing critical infrastructure and building a skilled workforce to support ongoing and future projects. The country’s ambition is clear: to not only boost national energy security, but also to contribute meaningfully to global energy markets.
“Namibia must not only focus on its recent discoveries, but prioritize new exploration activities and the development of infrastructure and the local workforce to establish a resilient and sustainable energy value chain,” said Ndapwilapo Selma Shimutwikeni, CEO of RichAfrica Consultancy – conveners of NIEC – emphasizing the need for a holistic approach to developing Namibia’s oil and gas sector.
As Namibia aims for first production by 2030, the coming years will be crucial in determining the country’s place in the global energy landscape. With Chevron’s ongoing exploration, NAMCOR’s expanded role and RMB’s financial backing, the foundations are being laid for a dynamic and resilient energy sector.
The conversations at NIEC made clear that Namibia is not only on the brink of energy sector growth, but is positioning itself to become a key player in the global oil and gas market. The next steps – focused on exploration, infrastructure and capacity-building – will be critical in shaping the long-term future of the sector.
