Namibia Endorses ECP Investment Guide for Petroleum and Mining Sectors

On 20 May 2023, Energy Capital & Power (ECP) announced that it has received the official endorsement from the Namibian Ministry of Mines and Energy to draft the “Energy Invest: Namibia 2023” report for the oil & gas and mining sector.

In her address, ECP Chairperson Kelly-Ann Mealia stated that the publication shall endeavor to act as an investment guide by showcasing the most promising investment opportunities in the extractive industry. In addition, the report includes exclusive interviews with Namibia’s top players involved in oil & gas and mining.

“We are thrilled to receive the official endorsement of the Ministry of Mines and Energy for the 1st edition of Energy Invest: Namibia 2023.”

Energy Capital & Power Chairperson Kelly-Ann Mealia

Currently, mining accounts for about 10% of #GDP of Namibia. Recent key deals include rare earth minerals export to EU as well as development of Lithium and Cobalt mines by Chinese and Australian companies.

In the Oil & Gas sector, several global players are already present in Namibia such as Shell, TotalEnergies, ExxonMobil, Chevron and ReconAfrica. In 2022, exploration work struck oil three times in the Orange Basin off the coast of Namibia.

Namibia has estimated reserves of 11 billion barrels of oil which when exploited could generate over USD 5 billion in annual taxes and royalties, doubling Namibia’s GDP by 2040. As the world grapples with #ClimateChange and strives to phase out fossil fuels, Namibia might want to expedite its oil & gas sector as other countries aims for #CarbonNeutrality.

In addition to Namibia, ECP has produced and published similar reports for several African countries such as Angola, DR Congo, Equatorial Guinea, Gabon, Kenya, Mozambique to name a few.