According to S&P Global forecasts, Namibia will see first oil in 2029 from Venus and 2030 from Graff, while BW Energy’s Kudu gas field will come online in 2028. The trio will take Namibia’s production to 381,360 b/d by 2035, higher than OPEC members Republic of Congo and Gabon. Other projects, including Jonker, would boost that number further.
Can Namibia become a top 15 oil-producing country by 2035?
“If proven together with the Graff, Yonker, and Kudu discoveries, has the potential to position Namibia in the top 15 oil-producing countries by 2035, which has the potential for an upward transformation of the Namibian economy.”
Which oil companies are playing a pivotal role in Namibia?
We have identified three major oil companies, namely Chevron CVX, ExxonMobil XOM and Shell, that are strategically positioning themselves to seize opportunities in this emerging frontier, thus playing a pivotal role in Namibia’s ascent within the global oil industry.
Why are oil companies flocking to Namibia?
Our Standards: The Thomson Reuters Trust Principles. Oil companies are flocking to Namibia, excited by the country’s plans to open up a major new frontier basin with recent offshore finds ranking among the largest this century.