Namibia is gearing up for oil exploration within its territory, with significant discoveries by TotalEnergies and Shell estimated at 2.6 billion barrels. These discoveries pave the way for Namibia to plan oil production by around 2030.
The OPEC+ oil producers group is eyeing Namibia for potential membership as it prepares to become Africa’s fourth-largest oil producer by the next decade. Initial steps may involve Namibia joining the Charter of Cooperation, which engages in long-term dialogue about energy markets.
Brazil joined the charter in January, and eventually, OPEC hopes to see Namibia become a full member, according to NJ Ayuk, executive chairman of the African Energy Chamber, who has been involved in facilitating talks between the two sides. Ayuk noted that OPEC has begun its “charm offensive,” although the outcome of the talks remains unclear at this stage.
OPEC has not immediately responded to requests for comment. In February, OPEC Secretary-General Haitham Al Ghais indicated the organization was holding talks with several nations on joining the charter, though he did not specify which countries.
In a tweet, OPEC mentioned a meeting between Al Ghais and Namibian Minister of Mines and Energy Tom Alweendo at a conference in Nigeria, where the prospect of OPEC and Namibia working together under the charter was discussed.
In 2023, Namibian Petroleum Commissioner Maggy Shino expressed interest in joining the OPEC “family,” according to a report by S&P Commodity Insights (Platts). However, in March, Minister Alweendo told Reuters that OPEC membership was not currently being considered, as Namibia had not yet been approached about joining.
Talks between OPEC and the Namibian government may continue in late April, when OPEC’s Al Ghais is scheduled to speak at a Namibian energy conference. Ayuk, who will also speak at the event, expects the discussions to progress.
Pranav Joshi of energy consultancy Rystad Energy told Reuters that Namibia has discovered about 2.6 billion barrels of oil in this decade.
