Johannesburg, South Africa — Namibia's offshore oil and gas sector is poised for substantial expansion in 2025, thanks to new licensing prospects and increased drilling operations, according to Petroleum Commissioner Maggy Shino. This announcement was made during a webinar organized by the ministry. African Energy Chamber Wood Mackenzie along with Namibia’s Ministry of Mines and Energy have initiated this move aimed at attracting new investments. This development positions the nation as one of the most promising frontiers for oil exploration globally.
We are functioning under an open licensing framework and will soon begin accepting applications," Shino noted, adding that the accessible areas encompass deepwater, ultra-deepwater, and shallow-water settings.
In the meantime, progress continues on two of Namibia’s key finds. The Venus project by TotalEnergies in Block 2913B is still slated for a final investment decision (FID) in 2026, supported by recent data indicating superior density and permeability relative to neighboring areas. Regarding Galp’s Mopane discovery, Shino announced that they gathered 3,500 square kilometers of high-resolution seismic data this week to improve volume assessments and move the project closer to an FID.
Regarding Shell’s PEL 39 discovery – for which the company recently took a write-down of $400 million – the Commissioner stated that both Shell and its partners are currently examining data from the nine wells that have been drilled thus far. This analysis aims to "chart a course toward development" and help decide subsequent actions.
Despite its vast size, Namibia’s offshore basin has not been extensively explored. As stated by Ian Thom, Research Director for Sub-Saharan Africa Upstream at Wood Mackenzie, "The region encompasses an extensive 220,000 square kilometers of offshore licensing areas." However, with only about 20 exploratory and appraisal wells having been drilled so far, this zone remains significantly unexplored.
The resources are certainly present," stated Verner Ayukegba, Senior Vice President at the African Energy Chamber. "The key issues currently focus on subsurface conditions, gas content, and the most effective ways to bring these findings into the market.
In 2025, drilling activities in Namibia are poised to increase significantly, with as many as seven wells scheduled for this year. BW Energy intends to commence drilling operations at the Kharas site located under the Kudu license area, whereas Rhino Resources looks forward to receiving outcomes from two highly promising wells drilled in PEL 85. Meanwhile, in South Africa’s Orange Basin, TotalEnergies is anticipated to begin drilling in Block 3B/4B, and Shell might also proceed with exploration in a deep-water zone close to the maritime border shared with Namibia.
Regarding the Kudu license, Shino mentioned that BW Energy has "discovered new prospects with additional upside potential—not just for gas, but also for oil—within the primary region," with plans to drill two wells by the end of the year.
As Namibia moves closer to its inaugural oil production, the government remains dedicated to converting these newfound hydrocarbon reserves into enduring economic advantages for the country. "Our aim is to provide a consistent operational setting, guaranteeing rapid progress towards initial output from every discovery while simultaneously fostering significant contributions to our domestic economy," stated Shino. The combination of Namibia's robust economy, well-coordinated industrial framework, adherence to contractual integrity, vast unexplored territories ripe for investigation, along with their pledge to supply eco-friendly energy sources, makes it an appealing locale for investors seeking opportunities.
The surge in exploration activities and the availability of licensing options in Namibia will be highlighted during African Energy Week (AEW): Invest in African Energies 2025. This event will bring together government officials, corporate leaders, and financiers who will share insights into recent advancements. As significant finds move closer to production stages and fresh areas become open for investments, AEW provides an exclusive platform to connect with influential figures steering Namibia’s energy landscape.
0 Comments