The Ministry of Mines and Energy’s Petroleum Commissioner, Maggy Shino, is set to lead discussions on investment opportunities in Namibia’s energy sector at the Invest in African Energy Reception later this month in London.
This follows the recent discovery of oil by Qatar Energy, Shell, and Total Energies in the Orange Basin, located offshore near Luderitz.
The Invest in African Energy Reception aims to provide a platform for supporting energy initiatives that drive economic growth and human development in Africa. The event brings together financiers and African stakeholders to discuss opportunities for increasing Africa-directed capital to develop a thriving oil and gas industry.
As a speaker at the event, Shino will play a key role in shaping the dialogue around the need for increased investment in Africa’s energy sector.
According to NJ Ayuk, Executive Chairman at the African Energy Chamber (AEC), Shino will set the tone for Namibian dialogue, providing current and potential investors with the insight they need to make informed decisions about investing in Namibia. As one of Africa’s most promising energy markets, investment opportunities are on the rise and Shino will showcase these to investors during the Invest in African Energy event in London.
Namibia is betting on the recent energy developments to bring increased foreign and domestic direct investment into the gas and oil sectors, as well as the broader economy, in the short and medium term. This is expected to accelerate the country’s economic recovery.
The Shell and Total Energies discoveries have the potential to generate annual taxes and royalties of between N$60-N$95 billion and create 3,600 jobs at the peak of production, according to the Presidency. Furthermore, international experts like Wood Mackenzie estimate Namibia could receive as much as N$500 billion in Foreign Direct Investment in this regard.
