Namibia’s offshore oil and gas industry is poised for a major expansion in 2025, with the government announcing new licensing opportunities and plans to drill seven wells throughout the year.
Petroleum Commissioner Maggy Shino shared the update during a webinar co-hosted by the African Energy Chamber, Wood Mackenzie, and Namibia’s Ministry of Mines and Energy.
The new licensing opportunities span across deepwater, ultra-deepwater and shallow-water environments, aiming to attract fresh investment to a sector described as one of the world’s most promising oil frontiers.
With 220,000 square kilometres of offshore license acreage available, Namibia’s vast potential remains largely underexplored – only 20 exploration and appraisal wells have been drilled to date, according to Ian Thom, research director for Sub-Saharan Africa Upstream at Wood Mackenzie.
“With just over 20 exploration and appraisal wells drilled, this area is still hugely underexplored.”
Development is progressing on key discoveries, including TotalEnergies’ Venus project in Block 2913B, which is on track for a final investment decision (FID) in 2026.
Meanwhile, Galp’s Mopane discovery recently underwent a 3,500km² high-density seismic data acquisition to refine volume estimates, moving closer to an FID.
Shell, analysing data from nine wells drilled within its PEL 39 discovery, continues to search for a pathway to development.
Drilling activity will ramp up in 2025, with BW Energy planning two wells at the Kharas prospect within the Kudu license.
Additionally, Rhino Resources is awaiting results from high-impact wells in PEL 85, while neighbouring South Africa’s Orange Basin may see TotalEnergies and Shell drilling ultra-deepwater blocks.
As Namibia advances toward first oil production, the government has pledged to channel petroleum revenues into long-term economic benefits for the country.
“We are offering a sustainable operating environment, ensuring all discoveries are in a race to first oil while making a lasting impact on the local economy,” Shino said.
The nation’s focus on exploration and development will also headline discussions at African Energy Week 2025, offering investors and stakeholders the opportunity to engage directly with decision-makers shaping Namibia’s energy future.
JN/APA