from ALFRED SHILONGO in Windhoek, Namibia
Namibia Bureau
WINDHOEK, (CAJ News) – NAMIBIA is rapidly positioning itself as one of Africa’s most promising emerging oil and gas frontiers, with new offshore exploration activity reinforcing expectations that the country could become a major contributor to global energy supply in the coming decades.
Industry analysts estimate that Namibia’s offshore basins, particularly the Orange and Walvis Basins, may hold billions of barrels of oil equivalent, with some early geological assessments suggesting potential resources ranging between 10 billion and 15 billion barrels of oil equivalent across its deepwater structures, alongside significant natural gas deposits.
While these figures remain subject to ongoing exploration and appraisal, they have already placed Namibia among the most closely watched new energy provinces in the world.
The latest development comes as United Kingdom (UK) energy giant British Petroleum (bp) acquires a 60 percent operating interest in three offshore exploration blocks in Namibia’s Walvis Basin, marking a significant expansion of its upstream footprint on the African continent.
The blocks—PEL97, PEL99 and PEL100—were acquired from Eco Atlantic Oil & Gas, with bp now taking operatorship in an area adjacent to Namibia’s rapidly advancing Orange Basin discoveries, where multiple major finds have already been reported by global operators.
The entry of bp is widely seen as a strong vote of confidence in Namibia’s geological potential and its long-term role in global energy markets.
Energy experts say the country’s offshore discoveries could transform Namibia into a new African oil and gas powerhouse, with first production from major fields potentially emerging before the end of the decade, subject to continued successful exploration and infrastructure development.
For Namibia, the economic implications are significant.
Oil and gas development could generate billions of dollars in revenue, create thousands of skilled and semi-skilled jobs, and stimulate growth in ports, logistics, engineering services, and downstream industries.
It is also expected to expand government revenues that could be channelled into education, healthcare, housing, and national infrastructure.
At a regional level, southern African economies stand to benefit from increased energy security, improved trade flows, and the development of shared infrastructure such as pipelines, refining capacity, and maritime transport networks.
A successful Namibian energy sector could reduce reliance on imported fuels and strengthen intra-African energy trade.
Across the continent, Namibia’s emergence adds momentum to Africa’s broader upstream renaissance, as global energy markets increasingly look to new frontier basins to offset declining production in mature fields.
Some analysts also note that shifting global geopolitical tensions, including instability in key Middle Eastern energy-producing regions such as Iran, are likely to intensify demand for alternative and stable supply sources.
In this context, southern Africa could benefit from positioning itself as a reliable intra-regional supplier of hydrocarbons, ensuring that African resources are traded more competitively within the continent and not subject to external pricing pressures.
Under the new arrangement, Eco Atlantic retains a minority stake alongside Namibia’s national oil company NAMCOR, ensuring continued domestic participation in the country’s evolving energy sector.
Energy leaders say this partnership model is crucial, allowing Namibia to build technical expertise while ensuring that resource development translates into long-term national value creation.
bp’s entry is therefore more than a commercial transaction—it signals growing international confidence that Namibia is on track to become one of Africa’s most important emerging deepwater oil and gas provinces.
– CAJ News