WINDHOEK, April 15 (Xinhua) -- Namibia is advancing reforms to strengthen governance and attract investment in its oil and gas sector as it moves closer to first oil production, President Netumbo Nandi-Ndaitwah said Wednesday.
Speaking at the eighth Namibia International Energy Conference in Windhoek, Nandi-Ndaitwah said the country is entering a critical phase as it moves toward first oil production, with investment, policy certainty, and collaboration seen as key to unlocking long-term economic growth.
"The road to first oil and beyond requires partnership, investment, and efficiency," she said, noting that Namibia must ensure its resources translate into inclusive and sustainable development.
She highlighted ongoing efforts to modernize the country's petroleum legal and regulatory framework to align with evolving industry practices and national ambitions.
Central to these reforms is the Petroleum Exploration and Production Amendment Bill currently before parliament, aimed at strengthening governance, improving transparency, and providing clarity to investors, Nandi-Ndaitwah said.
She added that placing the upstream petroleum unit under the presidency reflects the strategic importance of the sector and is expected to improve coordination, decision-making, and accountability.
Namibia has attracted growing global interest following a series of major offshore discoveries in the Orange Basin, including finds by international energy companies such as TotalEnergies, Shell, and Galp Energia. Additional discoveries by other operators have further reinforced the country's potential as a competitive petroleum province.
According to Nandi-Ndaitwah, these discoveries present an opportunity to drive economic transformation through increased revenues, infrastructure development, industrialization, and job creation.
The president also underscored the importance of a recently approved upstream local content policy, which seeks to ensure meaningful participation of Namibians in the sector through skills development, employment, and business opportunities.
While first oil will mark a significant milestone, Nandi-Ndaitwah said it is not the ultimate objective. "The goal is structural transformation, inclusive growth, and long-term prosperity for all Namibians," she said.
She underscored Namibia's commitment to maintaining a stable, transparent, and predictable investment environment, anchored in good governance and accountability. ■
