Namibia is Africa’s next major energy hub

Namibia is Africa's next major energy hub

I discussed the prospects of 's new oil and gas boom on TRT World the other day. I am very optimistic about the country's socio-economic prospects.

  1. Namibia is the “new Guyana” following a trio of significant play-opening oil discoveries in the Orange basin with the potential for up to 11 billion barrels of crude oil.
  2. Buoyed by the country's political stability, high-impact drilling is expected to continue in Namibia.
  3. Several majors such as Shell, TotalEnergies, Galp, Chevron, Azule Energy and ExxonMobil have acquired or are in the process of acquiring acreage.
  4. Subject to FIDs, Namibia could produce between 500,000 to 1 million barrels a day by the mid-2030s. This would make it among the top five oil producers on the continent
  5. Namibia is also looking to become a green industrial hub by producing green hydrogen for local, regional, and external markets in Europe. According to expert analysis, Namibia can theoretically produce some of the most cost-competitive green hydrogen and green ammonia globally using its vast solar and wind resources. In May 2023, Hyphen Hydrogen Energy agreed a deal with the Government of Namibia for a $10 billion green hydrogen project.
  6. Namibia's US$13 billion GDP could double or even triple by 2040, but the country would have to do more to translate this newfound resource wealth into equitable development and structural transformation— governance/institutional reforms to address the large unemployment and inequality (NB: there are lots of good and bad lessons abound on the continent from Ghana to ).

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