Oil and gas summit urges economic participation
As Namibia advances towards final investment decisions on its offshore discoveries, the central message emerging from the industry is that the country’s energy future will be measured not only by barrels of oil produced, but by the extent to which locals acquire the skills, businesses and capital needed to participate in one of the largest... The post Oil and gas summit urges economic participation appeared first on New Era .
As Namibia advances towards final investment decisions on its offshore discoveries, the central message emerging from the industry is that the country’s energy future will be measured not only by barrels of oil produced, but by the extent to which locals acquire the skills, businesses and capital needed to participate in one of the largest industrial investments in the nation’s history.
For policymakers and industry alike, the race towards first oil has become equally a race to ensure Namibia’s workforce is ready when opportunity arrives.
In this regard, a convergence of more than 700 delegates in Walvis Bay last week underscored a growing reality for Namibia’s emerging oil and gas industry: that the country’s greatest challenge is no longer finding hydrocarbons, but ensuring its people are equipped to benefit from the billions of dollars expected to flow into the sector.
The third Youth in Oil & Gas Summit (YIOGS) concluded last weekend after three days of discussions focused on skills development, entrepreneurship, financing and local content, reflecting a significant shift in the national conversation from exploration success to economic participation.
With the country edging closer to the development phase of major offshore discoveries, summit organisers argued that the country cannot afford to allow local businesses and workers to watch from the sidelines while international companies reap the rewards.
