Rhino Resources says it has injected N$3.8 billion into the Namibian economy by sourcing the majority of its goods and services locally during its offshore drilling campaigns for the Sagittarius-1X and Capricornus-1X wells.
Deputy Country Manager Ndakolo Haiduwa told the Namibia Oil and Gas Conference in Windhoek that over 80% of the company’s total expenditure went to Namibian-registered firms.
Employment of locals also increased, from 181 out of 384 workers (50%) in the first campaign to 185 out of 309 (60%) in the current phase.
Employment figures also showed a positive trend, with 181 out of 384 employees — around 50% — being Namibians during the first campaign, increasing to 185 out of 309 employees, or 60%, in the current drilling phase.
“To date, Rhino Resources has spent more than 80% of its budget on local goods and services and is committed to increasing this percentage with the ongoing campaign. During our first campaign, which was Sagittarius and Capricornus, 181 out of 384 employees, or 50%, were locals, and about N$3.2 billion, which is 80% of our total expenditure, was spent on local companies,” he said.
Rhino Resources is also the first operator in the country’s offshore history to complete a drilling campaign fully supported by Namibian-integrated services, including drilling materials and cement.
This was made possible through a strategic partnership with Halliburton, which established and delivered a full suite of services from within Namibia.
Haiduwa said these achievements align with national goals of creating sustainable value for Namibians through job creation, SME development, skills transfer, and technological advancement.
The company has pledged to further increase its local spend and maintain high levels of Namibian participation as operations progress.
“These figures show that our sector can deliver real, measurable benefits to the Namibian economy. We are committed to ensuring local talent and businesses remain at the heart of our operations,” he said.
He also stressed the importance of equipping Namibians, particularly youth and entrepreneurs, with the skills and certifications needed to compete in this highly specialised field.
He cautioned against opportunistic practices reminiscent of the “tenderpreneur” era, when unqualified individuals secured lucrative deals without delivering quality services, and warned of the economic risks of “Dutch disease” — where other sectors decline due to over-reliance on a single booming industry.
“The youth are the custodians of our future and the majority of the Namibian population. They are also the group most affected by unemployment. We must ensure they have the tools to take a seat at the table, not through entitlement, but through competence and excellence,” he said.
