7x24H Customer service
Home > News Articles > Energy Invest: Namibia Report Relaunches at NIEC 2024 Contact online >>
Home > News Articles > Energy Invest: Namibia Report Relaunches at NIEC 2024Energy Invest: Namibia 2023 – the official investment report on Namibia''s oil, natural gas, power, mining and renewable energy sectors – was relaunched at the Namibian International Energy Conference on Wednesday, in the presence of Namibia''s leading energy authorities, regulators and companies. Endorsed by the Ministry of Mines and Energy and produced by Energy Capital & Power (ECP), the publication serves as the official publication on Namibia''s burgeoning energy sector, tracking its evolution into one of the most dynamic energy hotspots globally. Since the launch of the report at African Energy Week last October, Namibia has produced two more offshore discoveries at Galp’s Mopane complex in the Orange Basin; secured additional financing for the Hyphen Hydrogen Energy facility; advanced its draft National Upstream Petroleum Local Content Policy; and established a new joint development plan for the Kudu gas project, among other key developments."Against the backdrop of Namibia’s dynamic energy landscape, this publication delves into the prevailing trends, advancements and investment opportunities within the country’s burgeoning sector, offering insightful interviews and in-depth analysis," stated Kelly-Ann Mealia, ECP Chairperson.As Namibia seeks foreign investment to develop its hydrocarbon discoveries and establish requisite exploration and production infrastructure, the publication serves as an exclusive investor resource, uniting insights from Namibia''s leading energy authorities and private sector players to showcase key trade, investment and partnership opportunities. "Energy Capital & Power has been honored to operate in this market as it enters an unprecedented period of growth. We look forward to working with the Namibian government and private sector to unlock the full potential of the country''s resources and connect projects with the global investment community," concluded Mealia.Energy Capital & Power is a strategic partner of the Namibia International Energy Conference (NIEC) – taking place in Windhoek on April 23-25, 2024. The 6th annual conference unites industry leaders, business executives and policymakers to engage in dialogue, exchange ideas, create new partnerships and identify strategies to foster a prosperous energy industry in Namibia and beyond. For more information, please visit https://The MSGBC Oil, Gas & Power conference remains the only event entirely dedicated to exploring energy opportunities in Mauritania, Senegal, The Gambia, Guinea-Bissau and Guinea-Conakry.Delegates are able to access high-level insights from African policymakers and government officials, one-to-one investor matchmaking services and exclusive oil and gas market forecasts. Amid first LNG exports and revitalized oil production, the Republic of Congo will host the inaugural forum on March 25-26, 2025, hosted by the Ministry of Hydrocarbons. Achieving Africa''s energy- and climate-related goals by 2030 will require annual investments of over USD200billion through the end of this decade. This will be vital to meet the growing energy needs of a continent where the median age of the population is 20 years and average GDP per capita is just over one-fourth of the global average.Our tracking of energy spending suggests that around USD110billion is set to be invested in energy across Africa in 2024, of which nearly USD 70billion to fossil fuel supply and power, with the remainder going to a range of clean energy technologies. Spending trends vary widely across Africa, but neither the total amount nor the proportion spent on clean energy are enough to put the continent on track to reach its sustainable development goals. As they stand, energy investments are equivalent to only 1.2% of the region''s GDP and clean energy investments, while rising, account for just 2% of the global total.Debt repayments, which have increased sharply in recent years, mean that many African governments have difficulty accessing the funds required for capital-intensive clean energy projects. Moreover, low sovereign debt ratings further limit access to outside investment – in 2023, only two countries, Botswana and Mauritius, held investment-grade ratings.Of the clean energy investments that have recently been made, the majority are in renewable power generation. While these projects are vital to meet Africa''s rising electricity needs in a sustainable way, the prospects for further growth will be limited as long as the grid itself is not upgraded and expanded. With average line losses of 15%, inefficient grids and insufficient interconnections are already creating bottlenecks for new renewable energy projects in the region.Energy access is among the top priorities in Africa, where 600 million people live without electricity and roughly 1billion people lack access to clean cooking. Financing needs for energy access initiatives fall well short of the annual USD25billion that is required to achieve the 2030 objectives of full access to modern energy. Progress in this area will require concessional finance providers to mobilise grants for the most vulnerable households and support the creation of bankable projects. The provision of other derisking capital will also be critical to allow the private sector to take a more active role.A high cost of capital is a major impediment to scaling up clean energy investments in Africa. Reducing country-wide and project-specific risks will require a major effort from national policymakers, based on clear strategies and ambitious NDCs, alongside significantly more international financial and technical support.Thank you for subscribing. You can unsubscribe at any time by clicking the link at the bottom of any IEA newsletter.The Republic of Namibia – also known as the "Land of the Brave" – is a largely unexplored frontier. The recent offshore discoveries by Total Energies and Shell, as well as the confirmation of a working petroleum system onshore in the Kavango Basin by Reconnaissance Energy Namibia, has now placed Namibia in the limelight; major international and medium-sized oil companies, as well as oil field service companies, are showing an increased interest in the country.To date, 26 exploration and appraisal wells have been drilled off Namibia, 20 of which are exploration wells and six of which are appraisal wells within the Kudu Gas Field.On 24 February 2022, Total Energies, with a 40% working interest, alongside Qatar Energy (30%), Impact Oil and Gas (20%) and NAMCOR (10%), announced that they made a significant discovery of light oil with associated gas on the Venus prospect, located in block 2913B, PEL 56 in the Orange Basin, offshore southern Namibia. It is reported that the Venus 1-X well encountered approximately 84 m of net oil play in a good quality lower cretaceous reservoir. Further drilling is anticipated to start in the fourth quarter of the year. Wood Mackenzie has estimated the recoverable oil volumes to be over 3 billion barrels.On the 4 February 2022, Shell Namibia Upstream BV (Shell) with a 45% participating interest, Qatar Energy (45%) and NAMCOR (10%) in Petroleum Exploration License 39 (PEL 39), located offshore Namibia, announced that the Graff-1 deepwater exploration well has made a discovery of light oil in both primary and secondary targets. It is reported that the Graff-1 deepwater exploration well has proved a working petroleum system for light oil. In April 2022, Shell made a second Orange Basin discovery in the La Rona-1 prospect in PEL 39, where the well confirmed hydrocarbon play at multiple levels.Shell has provided indications that further drilling in PEL 39 is anticipated to start towards the end of 2022.Reconnaissance Energy Namibia (Pty) Ltd, a wholly owned subsidiary of ReconAfrica, was issued with Petroleum Exploration Licence No 73 in 2014 to undertake exploration activities. ReconAfrica holds 90% interest in the licence while the National Petroleum Corporation of Namibia (NAMCOR) holds the remaining 10%.Since no drilling activities have ever taken place on the shores of the Kavango Basin, ReconAfrica launched a tri-stratigraphic well-drilling campaign to try to fully understand the basin and determine whether there is an active petroleum system.On 15 April 2021, ReconAfrica and the Ministry of Mines and Energy released a joint statement regarding the first stratigraphic test well (6-2). The results of the first well supported an active petroleum system with multiple source intervals. On 14 July 2021, ReconAfrica and NAMCOR (the state oil company of Namibia) announced the completion of drilling operations of the second stratigraphic test well (6-1).Taking into consideration that an active petroleum system has been established, ReconAfrica initiated a 450 km low-impact 2D seismic programme, for which they have hired Polaris Seismic International. Phase 1 of the seismic programme was completed in October 2021. As per the press release, the results of the first two stratigraphic test wells and the subsequent 2D seismic data have established a significant rift basin similar to the other major petroleum provinces/rift basins including onshore Africa, and areas of the North Sea.Phase 2 of 2D seismic acquisition (approximately 600 km) is ongoing, with good progress to date. ReconAfrica is scheduled to undertake a multi-well drilling programme, beginning with three stratigraphic wells and a sidetrack of the 6-2 well in June 2022 with the objective to prove commerciality of this petroleum system.The only commercial discovery in Namibia is the Kudu Gas Field, which was discovered in 1974 by a joint venture, comprising Chevron Oil, Regent Petroleum and SOEKOR (Pty) Ltd. It lies approximately 170 km west of Oranjemund in offshore Namibia, at a water depth of 170 m. The field''s proven natural gas reserves are estimated at 1.3 trillion cubic feet and its possible reserves at nine trillion cubic feet.The initial development plan for the field was a gas-to-power project, which included Namibia Power Corporation (NAMPOWER) as the downstream partner. However, the initial development plan failed, due to the non-fulfilment of some conditions in the Project Development Plan (PDA). In terms of the project schedule set out in the annexures of the PDA, the government was supposed to provide the required project support, including economic stabilisation provisions and financial guarantees, which it failed to do.In November 2018 and January 2019, the government made it clear that it was not going to provide the required support in terms of the PDA. As a result, the downstream partner, NAMPOWER, indicated that it would withdraw from the PDA and not continue to be part of the Kudu Gas Project.This means that BW Kudu and NAMCOR will have to come up with a revised development plan. During the Namibia International Energy Conference 2022, BW Kudu highlighted that it is currently revising its development plan for the gas-to-power project. The revised integrated development plan aims to supply competitive power to a growing African market with significant upside potential.The proposed Kudu gas project has significant importance for Namibia, especially in addressing Namibia''s energy security and addressing energy poverty in the country.BW Energy signed a farm-in agreement with NAMCOR increasing the Company''s interest to 95% in the licence in 2021. Prior to this transaction, BW Kudu held a 56% operated interest, with NAMCOR holding a 44% joint venture interest.In 2015 the government commissioned the construction of a national oil storage facility and a maritime platform for fuel offloading at the port of Walvis Bay, Namibia. About Windhoek energy storage investment trends As the photovoltaic (PV) industry continues to evolve, advancements in Windhoek energy storage investment trends have become critical to optimizing the utilization of renewable energy sources. From innovative battery technologies to intelligent energy management systems, these solutions are transforming the way we store and distribute solar-generated electricity. When you're looking for the latest and most efficient Windhoek energy storage investment trends for your PV project, our website offers a comprehensive selection of cutting-edge products designed to meet your specific requirements. Whether you're a renewable energy developer, utility company, or commercial enterprise looking to reduce your carbon footprint, we have the solutions to help you harness the full potential of solar energy. By interacting with our online customer service, you'll gain a deep understanding of the various Windhoek energy storage investment trends featured in our extensive catalog, such as high-efficiency storage batteries and intelligent energy management systems, and how they work together to provide a stable and reliable power supply for your PV projects. Windhoek energy storage investment trends [PDF Free Download] Chat with us Related Contents Windhoek energy storage investment Energy storage investment trends tunisia Energy storage investment trends palikir Energy storage investment trends asmara Budapest energy storage investment trends Energy storage investment trends brussels Bissau energy storage investment trends Energy storage investment trends lusaka Paraguay energy storage investment trends Skopje energy storage investment trends Tokyo energy storage investment trends Pretoria energy storage investment trends
Home > News Articles > Energy Invest: Namibia Report Relaunches at NIEC 2024
Energy Invest: Namibia 2023 – the official investment report on Namibia''s oil, natural gas, power, mining and renewable energy sectors – was relaunched at the Namibian International Energy Conference on Wednesday, in the presence of Namibia''s leading energy authorities, regulators and companies.
Endorsed by the Ministry of Mines and Energy and produced by Energy Capital & Power (ECP), the publication serves as the official publication on Namibia''s burgeoning energy sector, tracking its evolution into one of the most dynamic energy hotspots globally. Since the launch of the report at African Energy Week last October, Namibia has produced two more offshore discoveries at Galp’s Mopane complex in the Orange Basin; secured additional financing for the Hyphen Hydrogen Energy facility; advanced its draft National Upstream Petroleum Local Content Policy; and established a new joint development plan for the Kudu gas project, among other key developments.
"Against the backdrop of Namibia’s dynamic energy landscape, this publication delves into the prevailing trends, advancements and investment opportunities within the country’s burgeoning sector, offering insightful interviews and in-depth analysis," stated Kelly-Ann Mealia, ECP Chairperson.
As Namibia seeks foreign investment to develop its hydrocarbon discoveries and establish requisite exploration and production infrastructure, the publication serves as an exclusive investor resource, uniting insights from Namibia''s leading energy authorities and private sector players to showcase key trade, investment and partnership opportunities.
"Energy Capital & Power has been honored to operate in this market as it enters an unprecedented period of growth. We look forward to working with the Namibian government and private sector to unlock the full potential of the country''s resources and connect projects with the global investment community," concluded Mealia.
Energy Capital & Power is a strategic partner of the Namibia International Energy Conference (NIEC) – taking place in Windhoek on April 23-25, 2024. The 6th annual conference unites industry leaders, business executives and policymakers to engage in dialogue, exchange ideas, create new partnerships and identify strategies to foster a prosperous energy industry in Namibia and beyond. For more information, please visit https://
The MSGBC Oil, Gas & Power conference remains the only event entirely dedicated to exploring energy opportunities in Mauritania, Senegal, The Gambia, Guinea-Bissau and Guinea-Conakry.
Delegates are able to access high-level insights from African policymakers and government officials, one-to-one investor matchmaking services and exclusive oil and gas market forecasts.
Amid first LNG exports and revitalized oil production, the Republic of Congo will host the inaugural forum on March 25-26, 2025, hosted by the Ministry of Hydrocarbons.
Achieving Africa''s energy- and climate-related goals by 2030 will require annual investments of over USD200billion through the end of this decade. This will be vital to meet the growing energy needs of a continent where the median age of the population is 20 years and average GDP per capita is just over one-fourth of the global average.
Our tracking of energy spending suggests that around USD110billion is set to be invested in energy across Africa in 2024, of which nearly USD 70billion to fossil fuel supply and power, with the remainder going to a range of clean energy technologies. Spending trends vary widely across Africa, but neither the total amount nor the proportion spent on clean energy are enough to put the continent on track to reach its sustainable development goals. As they stand, energy investments are equivalent to only 1.2% of the region''s GDP and clean energy investments, while rising, account for just 2% of the global total.
Debt repayments, which have increased sharply in recent years, mean that many African governments have difficulty accessing the funds required for capital-intensive clean energy projects. Moreover, low sovereign debt ratings further limit access to outside investment – in 2023, only two countries, Botswana and Mauritius, held investment-grade ratings.
Of the clean energy investments that have recently been made, the majority are in renewable power generation. While these projects are vital to meet Africa''s rising electricity needs in a sustainable way, the prospects for further growth will be limited as long as the grid itself is not upgraded and expanded. With average line losses of 15%, inefficient grids and insufficient interconnections are already creating bottlenecks for new renewable energy projects in the region.
Energy access is among the top priorities in Africa, where 600 million people live without electricity and roughly 1billion people lack access to clean cooking. Financing needs for energy access initiatives fall well short of the annual USD25billion that is required to achieve the 2030 objectives of full access to modern energy. Progress in this area will require concessional finance providers to mobilise grants for the most vulnerable households and support the creation of bankable projects. The provision of other derisking capital will also be critical to allow the private sector to take a more active role.
A high cost of capital is a major impediment to scaling up clean energy investments in Africa. Reducing country-wide and project-specific risks will require a major effort from national policymakers, based on clear strategies and ambitious NDCs, alongside significantly more international financial and technical support.
Thank you for subscribing. You can unsubscribe at any time by clicking the link at the bottom of any IEA newsletter.
The Republic of Namibia – also known as the "Land of the Brave" – is a largely unexplored frontier. The recent offshore discoveries by Total Energies and Shell, as well as the confirmation of a working petroleum system onshore in the Kavango Basin by Reconnaissance Energy Namibia, has now placed Namibia in the limelight; major international and medium-sized oil companies, as well as oil field service companies, are showing an increased interest in the country.
To date, 26 exploration and appraisal wells have been drilled off Namibia, 20 of which are exploration wells and six of which are appraisal wells within the Kudu Gas Field.
On 24 February 2022, Total Energies, with a 40% working interest, alongside Qatar Energy (30%), Impact Oil and Gas (20%) and NAMCOR (10%), announced that they made a significant discovery of light oil with associated gas on the Venus prospect, located in block 2913B, PEL 56 in the Orange Basin, offshore southern Namibia. It is reported that the Venus 1-X well encountered approximately 84 m of net oil play in a good quality lower cretaceous reservoir. Further drilling is anticipated to start in the fourth quarter of the year. Wood Mackenzie has estimated the recoverable oil volumes to be over 3 billion barrels.
On the 4 February 2022, Shell Namibia Upstream BV (Shell) with a 45% participating interest, Qatar Energy (45%) and NAMCOR (10%) in Petroleum Exploration License 39 (PEL 39), located offshore Namibia, announced that the Graff-1 deepwater exploration well has made a discovery of light oil in both primary and secondary targets. It is reported that the Graff-1 deepwater exploration well has proved a working petroleum system for light oil. In April 2022, Shell made a second Orange Basin discovery in the La Rona-1 prospect in PEL 39, where the well confirmed hydrocarbon play at multiple levels.
Shell has provided indications that further drilling in PEL 39 is anticipated to start towards the end of 2022.
Reconnaissance Energy Namibia (Pty) Ltd, a wholly owned subsidiary of ReconAfrica, was issued with Petroleum Exploration Licence No 73 in 2014 to undertake exploration activities. ReconAfrica holds 90% interest in the licence while the National Petroleum Corporation of Namibia (NAMCOR) holds the remaining 10%.
Since no drilling activities have ever taken place on the shores of the Kavango Basin, ReconAfrica launched a tri-stratigraphic well-drilling campaign to try to fully understand the basin and determine whether there is an active petroleum system.
On 15 April 2021, ReconAfrica and the Ministry of Mines and Energy released a joint statement regarding the first stratigraphic test well (6-2). The results of the first well supported an active petroleum system with multiple source intervals. On 14 July 2021, ReconAfrica and NAMCOR (the state oil company of Namibia) announced the completion of drilling operations of the second stratigraphic test well (6-1).
Taking into consideration that an active petroleum system has been established, ReconAfrica initiated a 450 km low-impact 2D seismic programme, for which they have hired Polaris Seismic International. Phase 1 of the seismic programme was completed in October 2021. As per the press release, the results of the first two stratigraphic test wells and the subsequent 2D seismic data have established a significant rift basin similar to the other major petroleum provinces/rift basins including onshore Africa, and areas of the North Sea.
Phase 2 of 2D seismic acquisition (approximately 600 km) is ongoing, with good progress to date. ReconAfrica is scheduled to undertake a multi-well drilling programme, beginning with three stratigraphic wells and a sidetrack of the 6-2 well in June 2022 with the objective to prove commerciality of this petroleum system.
The only commercial discovery in Namibia is the Kudu Gas Field, which was discovered in 1974 by a joint venture, comprising Chevron Oil, Regent Petroleum and SOEKOR (Pty) Ltd. It lies approximately 170 km west of Oranjemund in offshore Namibia, at a water depth of 170 m. The field''s proven natural gas reserves are estimated at 1.3 trillion cubic feet and its possible reserves at nine trillion cubic feet.
The initial development plan for the field was a gas-to-power project, which included Namibia Power Corporation (NAMPOWER) as the downstream partner. However, the initial development plan failed, due to the non-fulfilment of some conditions in the Project Development Plan (PDA). In terms of the project schedule set out in the annexures of the PDA, the government was supposed to provide the required project support, including economic stabilisation provisions and financial guarantees, which it failed to do.
In November 2018 and January 2019, the government made it clear that it was not going to provide the required support in terms of the PDA. As a result, the downstream partner, NAMPOWER, indicated that it would withdraw from the PDA and not continue to be part of the Kudu Gas Project.
This means that BW Kudu and NAMCOR will have to come up with a revised development plan. During the Namibia International Energy Conference 2022, BW Kudu highlighted that it is currently revising its development plan for the gas-to-power project. The revised integrated development plan aims to supply competitive power to a growing African market with significant upside potential.
The proposed Kudu gas project has significant importance for Namibia, especially in addressing Namibia''s energy security and addressing energy poverty in the country.
BW Energy signed a farm-in agreement with NAMCOR increasing the Company''s interest to 95% in the licence in 2021. Prior to this transaction, BW Kudu held a 56% operated interest, with NAMCOR holding a 44% joint venture interest.
In 2015 the government commissioned the construction of a national oil storage facility and a maritime platform for fuel offloading at the port of Walvis Bay, Namibia.
As the photovoltaic (PV) industry continues to evolve, advancements in Windhoek energy storage investment trends have become critical to optimizing the utilization of renewable energy sources. From innovative battery technologies to intelligent energy management systems, these solutions are transforming the way we store and distribute solar-generated electricity.
When you're looking for the latest and most efficient Windhoek energy storage investment trends for your PV project, our website offers a comprehensive selection of cutting-edge products designed to meet your specific requirements. Whether you're a renewable energy developer, utility company, or commercial enterprise looking to reduce your carbon footprint, we have the solutions to help you harness the full potential of solar energy.
By interacting with our online customer service, you'll gain a deep understanding of the various Windhoek energy storage investment trends featured in our extensive catalog, such as high-efficiency storage batteries and intelligent energy management systems, and how they work together to provide a stable and reliable power supply for your PV projects.
Enter your inquiry details, We will reply you in 24 hours.
