Namibia's Oil Sector Sees Long Road Ahead with Over a Decade Before Potential Production

Shell Namibia's Country Chair, Eduardo Rodriguez, emphasized that attracting investment is crucial for Namibia's oil and gas sector at this stage. He highlighted that the country remains more than a decade away from potential oil production.

The road to oil production is a lengthy one, starting with an exploration contract that can take four years. During this period, companies must acquire seismic data, interpret it, identify prospects, and ensure that the studies indicate sufficient potential to justify drilling the first well.

Rodriguez emphasized that Namibia must have attractive terms to compensate for the risks involved in oil production. He noted that the country has already drilled more than 28 wells in four years, a daunting task that requires strong partnerships and investment attractiveness.