Namibia, Angola to work together on oil & gas matters



Namibia and Angola have agreed to cooperate in the petroleum and natural gas sectors and on other economic and social matters of mutual interest.

The two countries signed a memorandum of understanding on 29 November 2022 during the ongoing Angola Oil and Gas 2022 Conference in Luanda.

The Angola Oil and Gas 2022 Conference's theme is Promoting an Inclusive, Attractive, and Innovative Oil and Gas Industry in Angola.

Mines minister Tom Alweendo signed on behalf of Namibia while minister of mineral resources, petroleum and gas Diamantino Azevedo represented Angola.

Under the bilateral agreement, the two countries will establish an institutional framework for information exchange, data management and project partnerships.

The agreement will also look into energy transition and capacity building between Namibia and Angola. 

Alweendo said Angolans and Namibians could share knowledge and expertise. 

"We can learn a lot from Angola's successes in the industry. It is important for Namibia to partner with Angolan companies to drive up local content so that Namibians are ready for their jobs, contracts and the empowerment of everyone in the sector," Alweendo said.

Diamantino said the agreement gives Angola a chance to share its skills.

"This is an amazing opportunity for us to work hand in hand with Namibia. This will allow Angola to share its skills and lessons and help Namibia have a successful oil and gas sector," Diamantino.

International Trade Administration (ITA) says Angola's oil and the upstream gas market could grow more than 1.5% from 2022 to 2027. 

ITA also says Angola holds abundant untapped oil and gas resources estimated at 9 billion barrels of proven crude oil reserves and 11 trillion cubic feet of proven natural gas reserves. 

The country currently produces approximately 1.16 million barrels of oil per day (bpd) but hit as high as 2 million barrels per day (bpd) by 2010 during prosperous oil production years. 

The petroleum industry is critical and accounts for almost 75%of the country's revenues. It records an estimated 17,9 billion cubic feet of natural gas production from associated oil.

Namibia is counting on Shell, and TotalEnergies reported oil discoveries in early 2022. Shell has the Graff-1 well, while TotalEnergies has been working on the Venus well.

*Photo Energy Capital & Power


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