By Benjamin Wickham
CAPE TOWN, Oct. 14 — Namibia’s petroleum commissioner has revealed the country’s expectations of commencing oil production from significant offshore discoveries by 2030. This promising development comes as Namibia explores using a Floating Production Storage and Offloading (FPSO) platform to facilitate crude oil exportation.
Despite having not yet produced oil and gas, Namibia has garnered substantial interest from international energy companies, particularly following discoveries by industry giants Shell and TotalEnergies off the coast of this southern African nation.
Maggy Shino, the petroleum commissioner, shared insights at an oil conference in Cape Town, South Africa, indicating that both Shell and TotalEnergies are presently engaged in appraisal tests to ascertain the presence of commercially viable oil reserves that can be developed.
Shino stated, “For the oil project in deep waters, we are considering the deployment of an FPSO for exporting the crude to the market.”
An FPSO is a sizable vessel designed to process, store, and offload oil and gas extracted from offshore wells. It is commonly employed in deepwater settings where constructing pipelines to the shore is impractical.
The development of Namibia’s offshore oil and gas resources is anticipated to influence the country’s economy substantially. The government envisions this sector generating billions of dollars in revenue and creating thousands of jobs.
Nevertheless, there are pressing concerns about the potential environmental repercussions of offshore oil and gas operations, especially considering Namibia’s rich marine ecosystems, including the UNESCO World Heritage Site, Skeleton Coast National Park.
The government has assured its commitment to the sustainable development of the country’s oil and gas resources. It also intends to work closely with local communities to ensure they reap the benefits of this sector’s growth.
The exploration and production of Namibia’s offshore oil and gas resources represent a formidable endeavour with the potential to revolutionize the nation’s economy. Effective management will be paramount to ensure that these developments are inclusive and advantageous for all Namibians.
