WINDHOEK, Aug. 19– Namibia must ensure that its emerging petroleum industry creates jobs, strengthens local businesses and generates lasting national wealth as the country moves from oil exploration toward development and production, Vice President Lucia Witbooi said Wednesday.
Officially opening the fourth Namibia Oil and Gas Conference and Exhibition in Windhoek, Witbooi said major offshore discoveries had transformed the country’s energy profile but stressed that “discovery is not the destination.”
Petroleum resources would only constitute a national success if they translated into employment for Namibians, opportunities for local enterprises, skills development, technology transfer, infrastructure and revenues for national development, she said.
Recent discoveries in the Orange Basin, including Venus and Mopane, have shifted Namibia‘s attention toward potential development and production. The country, however, has yet to produce oil, while operators continue to appraise discoveries and advance development plans.
Witbooi noted that the government would seek investment that creates enduring national value while maintaining a stable and credible investment environment for international companies.
She urged operators and contractors to treat local content as a strategic business responsibility by identifying procurement opportunities early and promoting transparent contracting, workforce training, technology transfer and supplier development.
She also called for prudent management of petroleum revenues, saying the income should finance productive investment and help preserve wealth for future generations through institutions.
The three-day conference, which runs through Thursday under the theme “From Decision to Dividend: Making Namibia‘s Oil Work for Namibians,” has gathered government officials, investors, oil companies, service providers and local businesses. (Namibia Daily News / Xinhua)
