Namibia has downsized anticipated recoverable reserves at two of its large offshore exploration fields.
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Namibia's Energy Industry In Figures
Estimated oil reserves in the Orange Basin:11 billion barrels
Estimated gas reserves in the Orange Basin:62.3 bcm
Installed solar PV capacity as of end-2022: 176 MW
Share of power generation that comes from hydropower:61.3%
Namibia’s electricity generation mix is dominated by hydropower, which made up 61.3% as of 2021. Its chief asset is the 347-MW Ruacana hydropower plant, and a second plant, the Baynes Hydropower Project on the Kunene River, is under evaluation.
Around 60% of the country’s electricity demand is imported from neighbouring South Africa. In order to improve self-sufficiency, the government in recent years has taken steps to make the power generation sector more attractive for independent producers, including the horizontal integration of over 70 players into five regional distribution companies.
As of end-2022, Namibia’s installed solar PV capacity stood at 176 MW.
Namibia’s oil and gas sector is attracting worldwide attention following discoveries in the offshore Orange Basin in 2022 and 2023. The basin is estimated to hold 11 billion barrels of light oil and 62.3 bcm (2.2 tcf) of natural gas. Supermajors TotalEnergies, Chevron, Shell and ExxonMobil are present in the country.
The country’s national integrated oil and gas company is NAMCOR, whose mission is to attract investment by providing world-class data and value for stakeholders. The US International Trade Administration projects that Namibia’s hydrocarbons developments could double its GDP by 2040.
Policymakers in Namibia have expressed an interest in developing nuclear power generation. The country’s uranium reserves are among the world’s top 10.
Namibia's Energy Industry News and Articles
Azule Energy and Rhino Resources will enter a strategic farm-in agreement for Block 2914A in Namibia.
READ MOREAngola is working hard to increase its power generation capacity by boosting hydro and solar energy.
READ MOREChevron has signed a deal with Namibia's NAMCOR to develop an offshore block in the Walvis Basin.
READ MOREDomingos Augusto of Sonamet talks about how the company will successfully deliver on the Agogo project.
READ MORETotalEnergies has signed an agreement to purchase additional shares in the 2913B and 2912 offshore blocks in Namibia from Impact Oil and Gas Namibia, the French energy…
READ MOREJosé Manuel Ganga Junior, CEO of ENDIAMA, talks to The Energy Year about the company’s shift in strategy to ensure more growth and value creation for Angola and the…
READ MORERaul Costa, managing director of TUBOSTRANS, talks to The Energy Year about the latest additions to the company’s assets and operations, the competitive advantage of…
READ MOREPortuguese energy player Galp Energia has begun drilling an exploration well at the offshore PEL 83 block in Namibia, Upstream Online reported on Monday.
The…
READ MOREShell has allocated a quarter of its 2023 and 2024 offshore deepwater exploration spending to Namibia, the company’s CEO announced in its third quarter results…
READ MOREFrench energy giant TotalEnergies has set plans to begin tests on a new appraisal well in Namibia’s Orange basin, Upstream Online reported on Thursday.
According…
READ MORETotalEnergies has launched a bid process for a five-year drilling contract worth more than USD 800 million for the offshore Venus project in Namibia, Upstream Online…
READ MOREAlberto Figueiredo, CEO of Operatec, talks to The Energy Year about the company’s strategy to further develop training centres, its key projects and priorities, and…
READ MOREVenancio Epolua, general manager of G4S, talks to The Energy Year about how the company’s restructuring process has improved its operations in Angola, how it plans to…
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