Namibia Accelerates Oil Production Timeline with 2029 Target as Investment Surge Continues
Namibia is witnessing unprecedented investment momentum across its exploration and production landscape as the country prepares for oil production by 2029. The surge spans from global energy majors to leading independents and regional companies, positioning Namibia as southern Africa’s next major oil producer.
Former Minister of Mines and Energy Tom Alweendo has launched Alvenco Advisory, a strategic advisory firm designed to facilitate global company entry into Namibia’s evolving energy sector. The firm focuses on policy and regulatory support, stakeholder engagement, and ESG compliance while ensuring investments create tangible benefits for Namibians.
The Orange Basin continues to drive activity, with TotalEnergies targeting a final investment decision for its Venus discovery in 2026, maintaining the 2029 first oil timeline. Galp is advancing the Mopane field development following successful exploration results, with the recent Mopane 3S well revealing light oil and gas condensate presence.
Exploration momentum remains strong with Rhino Resources progressing toward field development after discoveries at the Capricornus-1X well in April 2025 and hydrocarbon confirmation at Sagittarius-1X in February. Halliburton plans two exploration wells at Block 2914 in PEL 85, while Stamper Oil & Gas pursues projects in the Orange and Lüderitz Basins. Chevron is exploring the Walvis Basin following its 80% acquisition in Blocks 2112B and 2212A.
Alweendo emphasized the transformative potential ahead: “With major oil discoveries and bold steps into green hydrogen, we have a unique opportunity to ensure our natural resources uplift all Namibians.” His extensive experience includes roles as Bank of Namibia Governor, National Planning Commission Director General, and Minister of Mines and Energy through 2025, overseeing the country’s major oil discoveries.
Source: worldoil.com
