Namibia a hotbed for hydrocarbon fuel: Geingob

WINDHOEK: President Hage Geingob on Tuesday stated that Namibia is currently a ‘hotbed’ for hydrocarbon prospecting with a share of 13 per cent of all offshore rigs operating in Africa.

Geingob made this observation during the three-day occasion Africa Energy Week held under the theme ‘The African energy renaissance: prioritising energy poverty, people, planet, industrialisation and free markets’ from 16-18 October 2023 in South Africa.

A statement issued by the Presidency on Tuesday quoted the president as saying that the country has witnessed more than 36 wells being drilled and today, Namibia is on the cusp of birthing a globally significant hydrocarbon industry and that for the African energy renaissance to be meaningful, Africa should be permitted to explore and exploit its natural endowments for the prosperity of the continent.

Geingob said the continent is experiencing a renaissance in renewable and non-renewable energy sources, which will permit it to arrest the challenges of poverty, the protection of the planet and the industrialisation of Africa.

“However, there are certain things we must get right in order to ensure that we meet the targets we have set for ourselves as countries, including as a continent. Convening of policy-makers and captains of industry on this scale during Africa Energy Week here in Africa is a step in the right direction as it facilitates unique platforms to dissect, learn and unlearn, while also drawing from the experiences of our counterparts for the betterment of our countries and the continent,” he said.

It is an opportunity that is impossible to pass up, Geingob noted, adding that in 2022, Shell and TotalEnergies announced major oil discoveries off Namibian shores, that if diligently developed, could result in light crude oil reserves estimated at three billion barrels.

“As a part of the drive to decarbonise its European refineries, in October 2023 TotalEnergies issued a call for tenders for the supply of 500 000 tonnes per year of green hydrogen while in 2022, Shell announced its final investment decision to build Europe’s largest renewable hydrogen plant which is expected to produce up to 60 000 kilogrammes of renewable hydrogen per day and will be operational in 2025,” the Namibian Head of State said.

Source: The Namibian Press Agency