Oil must benefit Namibians – Witbooi
Adolf Kaure Vice President Lucia Witbooi said the success of Namibia’s oil discoveries will be measured on how many Namibian lives they improve. She was speaking at the official opening of the fourth edition of the Namibia Oil and Gas Conference and Exhibition yesterday. Witbooi called on Namibians to actively participate in the development of... The post Oil must benefit Namibians – Witbooi appeared first on New Era .
Vice President Lucia Witbooi said the success of Namibia’s oil discoveries will be measured on how many Namibian lives they improve.
She was speaking at the official opening of the fourth edition of the Namibia Oil and Gas Conference and Exhibition yesterday.
Witbooi called on Namibians to actively participate in the development of the country’s emerging oil and gas industry.
“Discovery is not the destination.
A resource beneath our waters becomes a national success only when it is responsibly developed and translated into tangible improvements in the lives of our people. It must become employment for Namibians, opportunities for our enterprises, skills for our young people, technology for our institutions, infrastructure for our economy, revenues for national development and savings for future generations,” Witbooi said.
She also highlighted the importance of maintaining a stable investment environment and aligning the development of the oil and gas industry with Namibia’s national development priorities.
“The government will continue to provide a stable and credible investment environment. Our political stability, constitutional democracy, independent judiciary and commitment to the rule of law remain important foundations for investment. We must demonstrate that Namibia can be both investment-friendly and institutionally firm, both commercially competitive and protective of the public interest,” Witbooi added.
Additionally, within the oil and gas focus area, NDP6 envisages the development of an oil and gas industry that contributes to Namibia’s socio-economic development and sets 2030 outcomes for the emergence of domestic oil production.
The plan also identifies stronger legal and policy frameworks, sustainable field development, infrastructure and investment growth, and skills development and innovation as important strategies.
Petroleum discoveries have been made in the Orange Basin, and they have transformed the country’s global energy profile, attracting some of the world’s leading energy companies and investors. Exploration and appraisal activity continue to expand our understanding of the basin, while major discoveries such as Venus and Mopane are moving the national conversation from exploration toward development and production.
Also speaking at the opening, the special advisor and head of the Upstream Petroleum Unit in the Office of the President, Kornelia Shilunga, said the real dividends of oil and gas discoveries need to lead to the commercial development of the country.
“They must be reflected in jobs that are created, strong and viable businesses, improved infrastructure, technology transfer, skills development, increased government revenues, industrial growth and improved opportunities for future generations. We must also ensure that petroleum revenues are managed prudently and transparently. This requires strong institutions, sound governance, environmental responsibility, accountability and long-term planning,” she remarked.
In his ministerial address, mines and energy minister Modestus Amutse highlighted the importance of policy for Namibia’s preparations to transition from oil and gas exploration to production.
“Fiscal certainty is a stable and transparent framework for petroleum revenues.
Namibia does not move the goalposts. To our international partners: local content, properly done, is not a tax on your investment. An industry surrounded by capable Namibian suppliers, skilled Namibian workers and invested Namibian communities is an industry with social licence, political stability and a future measured in generations,” Amutse said.
He added: “That is what the policy builds, and my ministry will implement it with you, not against you.
I am happy to state that our local banks have informed me that they are ready to receive bankable proposals from the oil and gas sector for their consideration”.
–akaure@nepc.com.na
