AEC Launches Namibia Trade Mission in Collaboration with NIEC 2024

Source: www.gulfoilandgas.com 2/19/2024, Location: Africa

The Trade Mission ensures stakeholders maximize the opportunities of the Namibia International Energy Conference taking place April 23-25.

The African Energy Chamber (AEC) – serving as the voice of the African energy sector – has launched a Trade Mission to Namibia from April 23-25 to promote business opportunities within the country’s energy industry. In collaboration with the Namibia International Energy Conference (NIEC), the Trade Mission will facilitate engagement between companies; connect stakeholders to market intelligence and resources; while capitalizing on the conference offerings to drive new investment into the country. Visit https://energychamber.org/african-energy-chamber-trade-mission-namibia/ to secure your place.

Namibia expects to produce first oil from the Orange Basin by 2030 as well as 10-12 million tons of green hydrogen equivalent by 2050. A commitment to accelerate the development of the Graff-1 and Venus-1 discoveries – made in 2022 by energy majors TotalEnergies and Shell – is also underway in tandem with further off- and onshore drilling campaigns. Government is working to establish effective petroleum revenue management legislation while placing focus on local content, thereby opening lucrative business opportunities for both Namibian and international energy players. The Namibian Trade Mission, in collaboration with NIEC 2024, connects potential investors with Namibian opportunities.

NIEC is an influential event that brings together policymakers, energy stakeholders, investors and international partners to foster industry growth. Now in its sixth edition, the event serves to highlight Namibia’s position as a prime investment decision. The event takes place in partnership with the AEC. Visit www.nieconference.com for more information.

Multinational energy corporation Galp made two discoveries at the Mopane-1X well in 2024 and will now proceed to spud Mopane-2X. TotalEnergies has also made its second discovery in the Orange Basin, discovering hydrocarbon-bearing intervals at the Mangetti-1X well this year. Energy major Chevron expects to spud its first well in PEL 90 in Q4, 2024 while Shell’s Jonker-1; La Rona; and Graff-1 finds are expected to hold as much as 1.7 billion barrels of oil. Onshore, independent oil and gas company ReconAfrica plans to start drilling in the Kavango Basin in 2024 while exploration company 88 Energy acquired a 45% non-operated interest in Namibia’s PEL 83 in November 2023. Notwithstanding this progress, Maggy Shino, Petroleum Commissioner at Namibia’s Ministry of Mines and Energy, says the country has only scratched the surface of the potential of the hydrocarbon basin, highlighting a wealth of opportunities for new players.

On the gas front, Namibia is targeting FID for the Kudu Conventional Gas Development this year, with production aimed for 2026. The project is currently in the Front-End Engineering and Design Phase. Gas will be transported to an 885 MW combined cycle gas turbine, providing power for the domestic economy. A range of business opportunities are expected to emerge from the project.

Meanwhile, three green hydrogen pilot projects – the Hyrail Dual-Fuel Locomotive, Daures Green Hydrogen Project and Cleanergy Green Hydrogen Service Station – will start operations this year. The development concept for a $10 billion green hydrogen project was also agreed upon in 2023. The green hydrogen industry is expected to create up to 600,000 new jobs, underscoring the significant business opportunity present in the burgeoning market. Ambitions to position the country as a regional hub for energy further highlights opportunities in the sector, and the Trade Mission will leverage the NIEC platform to stimulate business and partnerships.

The AEC-led Trade Mission to Namibia this April builds on milestones achieved in the industry thus far to promote further business and investment in the country’s energy value chain. Leveraging the AEC’s partnership with NIEC 2024, the mission will facilitate meetings between companies and Namibian partners; establish an itinerary for delegations; organize one-on-one meetings on behalf of participants; and create opportunities for panel discussions, presentations and keynote speeches – subject to the NIEC 2024 schedule.

The Namibian Trade Mission presents numerous offerings for participants. These include site visits to prominent energy companies in Windhoek, thereby providing first-hand insight into projects and potential partnerships; technical workshops; networking dinners and social functions; and market intelligence and research reports. Resources stand to equip participants with the information they need to make informed decisions on the market while business matchmaking opportunities ensure meaningful connections and productive collaboration can be made.


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