Following two sizeable oil and gas discoveries made this year as well as the launch of a large-scale green hydrogen project, Namibia is looking at increasing investment in its burgeoning energy sector. In line with this goal, the National Petroleum Corporation of Namibia (NAMCOR) has joined Africa’s biggest energy event, the African Energy Week (AEW) (www.AECWeek.com) conference and exhibition – taking place from October 18-21, 2022, in Cape Town – as a platinum sponsor, with a delegation coming to the Cape Town event to discuss Namibian oil and gas opportunities and the intersection between oil, gas and green hydrogen in Africa’s energy future.
As both a platinum sponsor and a joint host for the Invest in Namibia side event at AEW 2022, NAMCOR will promote emerging investment opportunities across the country’s oil and gas upstream, midstream and downstream sectors while shaping key discussions around the key role hydrocarbon resources will play in addressing energy poverty both in Namibia and across the continent. While favorable fiscal terms and recent exploratory success in Namibia have positioned the country as one of the world’s fastest growing hydrocarbon markets, with some of the world’s top explorers including ExxonMobil, TotalEnergies, Qatar Energy, ReconAfrica and Africa Energy Corp boosting upstream spending in the market, more needs to be done from an investment perspective to maximize the development and exploitation of oil and gas resources to meet growing energy demand at local, regional and international level.
With less than 50% of Namibia’s population with access to power and over 600 million people across the African continent living in energy poverty, the country’s vast, untapped hydrocarbon resources present a huge opportunity to improve electrification and drive socioeconomic growth. In this regard, NAMCOR will participate in high-level panel discussions and meetings at AEW 2022, discussing the challenges and opportunities across the country’s oil and gas industry and making a case for cross-border synergies and cooperation as the country looks to establish a competitive, domestic hydrocarbons market.
Meanwhile, with Namibia’s green hydrogen industry – a particularly high potential market owing to the country’s abundant renewable energy resources as well as its strategic export location to international markets such as Europe - set to explode, a new era of infrastructure development, socioeconomic growth and energy security is in sight. As such, AEW 2022 will connect NAMCOR with technology providers, investors and trading partners, promoting the country’s market potential while providing the best platform for deals to be signed, partnerships secured and new forms of collaboration established.
As a platinum sponsor, NAMCOR will gain access to exclusive networking forums at AEW 2022 where the national oil company (NOC) will provide an update on current and future green hydrogen projects – including Hyphen’s $10 billion initiative in the Tsau //Khaeb National Park and the four €30 million pilot projects which have secured funding from Germany - whilst showcasing the country’s potential to become a global energy hub as the demand for green hydrogen increases worldwide.
“The Chamber is honored to be hosting NAMCOR as a platinum sponsor at AEW 2022 where the NOC will sign energy investment deals that will enable more oil and gas wells to be drilled and exploited to boost Namibia’s GDP and economic growth. We strongly commend efforts undertaken by NAMCOR to enhance Namibia’s entire oil and gas value chain and power sector. With some of Africa’s biggest oil discoveries made this year, and a global hydrogen hub in the making, Namibia is on track to witness accelerated industry growth, and AEW 2022 will only serve to drive progress even further,” states NJ Ayuk, the Executive Chairman of the African Energy Chamber (AEC).
Under the theme, ‘Exploring and Investing in Africa’s Energy Future while Driving an Enabling Environment,’ AEW 2022 will host NAMCOR in high-level discussions centered around local content and skills development; how Africa can boost upstream investments; and the role NOCs play in maximizing oil, gas and green hydrogen production to make energy poverty history across the continent by 2030.
Distributed by APO Group on behalf of African Energy Week (AEW).
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About AEW 2022:
AEW 2022 is the AEC’s annual conference, exhibition and networking event. AEW 2022 unites African energy stakeholders with investors and international partners to drive industry growth and development and promote Africa as the destination for energy investments. Key organizations such as the African Petroleum Producers Organization, as well as African heavyweights including Equatorial Guinea and Nigeria, have partnered with AEW, strengthening the role the event will play in Africa’s energy future.