NAMCOR is poised to take Namibia’s oil industry local benefit agenda to Paris in France where the parastatal will advocate for local content partnerships regarding field development and upstream opportunities in Namibia, Business Express understands.
With three significant oil and gas discoveries and the initiation of a major green hydrogen project, Namibia is poised to bolster investment in its rapidly growing energy sector, and is prioritizing local content as the country expands its nascent energy market. To align with this objective, NAMCOR will spearhead discussions at the Invest in African Energy Forum in Paris, urging investors keen on participating in the country’s field development and upstream endeavors to prioritize local content integration in their operations.
The Forum, organized by the African Energy Chamber (AEC), is scheduled for June 1 at the Westin Paris Vendôme, and aims to attract investors to capitalize on Namibia’s thriving hydrocarbon sector.
Namibia has recently implemented its National Upstream Petroleum Local Content Policy with the overarching objective of establishing an internationally competitive petroleum sector that optimizes the advantages for the country. It aims to achieve this by ensuring meaningful and sustainable involvement of Namibians and local companies throughout the entire value chain of the petroleum industry. The policy encourages oil and gas companies to prioritize the hiring and training of Namibian workers, thereby encouraging job creation and skill development within the country.
As Namibia aims to prioritize local participation and economic benefits, the private sector, particularly energy companies, play a significant role in driving this agenda forward. They are responsible for adhering to local content regulations, which require them to utilize local goods and services, employ and train local workers, and share technology and knowledge with local partners. NAMCOR also actively promotes and advocates for international oil and gas companies (IOC) to prioritize and integrate local content initiatives into their operations.
NAMCOR’s partnerships with prominent IOCs, such as Shell, TotalEnergies, and QatarEnergy, play a crucial role in implementing local content initiatives. These partnerships have yielded significant results, including discoveries such as the Graff-1X, Venus-1X, and Jonker-1X finds. These discoveries have served as catalysts, reinforcing NAMCOR’s ambitions and inspiring the development of a resilient workforce capable of navigating the dynamic landscape of the industry.
In addition to the successful exploration endeavors, these joint partnerships contribute to expanding the industry’s workforce, fostering the growth of human capital, and cultivating the necessary skills required in the sector. By placing a strong emphasis on local content, NAMCOR and its partners aim to further strengthen capacity building efforts. This commitment empowers industry workers, enabling them to meet the rapid demands of the sector and ensuring a sustainable and skilled labor force for the future.
Additionally, incorporating local content initiatives in Namibia’s oil and gas sector is driving the development of sustainable supply chains within the country. The use of local goods and services reduces the nation’s reliance on imports, thereby strengthening local industries, and promoting a self-reliant economy. This approach is anticipated to support the long-term sustainability of the industry and contribute to the overall progress of the country.
“We commend NAMCOR for its unwavering commitment to advocating local content in Namibia’s field developments and upstream sector. By prioritizing the participation of local businesses and workforce, NAMCOR is driving sustainable economic growth, job creation, and technology transfer, ensuring that the benefits of the country’s hydrocarbon sector are harnessed by its own people,” states Tomás C. Gerbasio, Strategy and Business Development Director of the African Energy Chamber (AEC), “We look forward to the discussions that will be driven by NAMCOR at the Invest in African Energy Forum in Paris in June.”
Business Express understands that NAMCOR will seize the opportunity to emphasize the importance and benefits of integrating local content initiatives within the oil and gas sector in Namibia. By showcasing the advantages of prioritizing local resources, job creation, economic growth, and technology transfer, NAMCOR aims to attract the attention and interest of investors attending the Forum. The company will highlight how incorporating local content not only contributes to the sustainable development of the sector but also aligns with Namibia’s broader goals of fostering a robust and self-sufficient economy.