Ebson Uanguta, the Interim Managing Director of Namcor, has stated that Namibia could be a top five African oil and gas producer within a decade, and is confident of more discoveries. The country could be producing more than 500,000 barrels of oil equivalent per day from four floating production, storage and offloading vessels, he said.
This development could see the country displace Egypt from the top five oil producers on the continent, Ebson Uanguta, interim managing director of the National Petroleum Corporation of Namibia (NAMCOR), said while speaking at the Namibia Oil and Gas Conference in Windhoek, the country’s capital.
” With four floating production storage and offloading units deployed by 2035, we could be producing more than half a million barrels per day of oil equivalent,” he said.
With this level of production, Namibia will be rubbing shoulders with Africa’s top oil producers, Nigeria, Angola and Libya, he added.
Currently, Egypt produces about 500,000 barrels per day, a figure Namibia could surpass if all planned projects reach their production peaks.
The accelerated exploration activities supported by deep-water technologies, Uanguta said, areefforts that are expected to boost Namibia’s oil output and contribute to the country’s economic growth.
Uanguta added that NAMCOR remains optimistic about the sector’s future, with more exploration and appraisal activities scheduled for 2024 and 2025.
