Financial Energy Review
…….by Ben Ndubuwa
The Namibian Deputy Minister of Mines and Energy, Hon Kornelia Shilunga, said in the opening session of the on-going Namibia Oil and Gas Conference (NOGC) that the conuntry is set to be a global leader in the petroleum industry.
Focusing on Namibia’s role in the future of global energy, she stated, “Amid the turmoil of global geopolitics, Namibia continues to be a developing bright spot in the future of global energy supply. It is indeed an interesting time for our country.”
She added, “I believe this forum offers us all a unique opportunity to share ideas on how we can play our various roles in enabling our country to leverage its petroleum resources to attain socio-economic development while providing energy to the world.”
In her keynote address, she then emphasised three key issues: the need for effective management of Namibia’s oil and gas resources, the critical role of international oil and service companies in ensuring local prosperity, and the importance of NAMCOR, the national oil company, as a vehicle for state equity participation in petroleum licenses to ensure prosperity for all Namibians.
Finally, she concluded; ‘As we navigate the next step towards oil and gas prosperity in Namibia, we should be guided by transparency, equity and the spirit of collaboration and cooperation. I am optimistic that we will use these two days to network and share ideas that will enable us to achieve common prosperity from Namibia’s oil and gas industry.”
Photo: L-R Cons Karamata, Chief Executive Officer, EAN, Hon Kornelia Shilunga, MP, Deputy Minister of Mines and Energy, Maggy Shino, Petroleum Commissioner, Ministry of Mines and Energy, Ebson Uanguta, Managing Director NAMCOR, Nangula Uuandja Chairperson and CEO NIPDB, Jason Kasuto, Chairperson, EAN
Jason Kasuto, Chairperson of the Economic Association of Namibia, host of the event, announced that the 2nd edition of the Namibia Oil and Gas Conference has far exceeded expectations, drawing over 900 participants. He highlighted that this impressive turnout underscores Namibia’s readiness to capitalise on opportunities in the oil and gas sector, as well as the increasing global interest in the country.
Further sessions were presented to delegates offering a comprehensive overview of the country’s oil and gas sector including; updates, progress and strategies within the industry, key investment opportunities and challenges faced by the extractive sector, creating Africa’s energy value chain and a sustainable and just transition and finally the importance of developing a sustainable local content framework to foster inclusive economic growth with the need for strong local and international partnerships.
