- The OPEC+ oil producers group is proposing a possible membership to Namibia.
- Based on the existing discoveries, Namibia’s peak production capacity will reach 700,000 barrels per day (bpd) by the next decade.
The OPEC+ oil producers group is proposing a possible membership to Namibia as it sets up what could be Africa’s fourth-largest output by the next decade.
Also, in recent years, TotalEnergies and Shell have made discoveries estimated at 2.6 billion barrels, setting the stage for the southern African country to plan production starting in 2030.
In addition to Total and Shell, firms including Chevron, Rhino Resources, Eco Atlantic Oil & Gas and Galp Energia are conducting exploration and appraisal activities.
Based on the existing discoveries, Namibia’s peak production capacity will reach 700,000 barrels per day (bpd) by the next decade.
The sources said OPEC+’s initial focus was on seeing Namibia join its Charter of Cooperation, a grouping that engages in longer-term dialogue about energy markets. Brazil joined the charter in January.
NJ Ayuk, executive chairman of the African Energy Chamber, who had facilitated talks between the two sides, said that OPEC, the core oil exporters group that, with Russia and others, forms OPEC+, would like to see Namibia become a full member.
Furthermore, talks between OPEC and the Namibian government will likely continue in late April, when OPEC’s Al Ghais is scheduled to deliver an address to a Namibian energy conference, said Ayuk, a speaker at the event.
Moreover, based on the existing discoveries, Namibia’s peak production capacity will reach 700,000 barrels per day (bpd) by the next decade.