Namibian oil and gas fires up slowly

Predictions that Namibia will be “another Norway” thanks to the discovery of oil and gas offshore fail to take into account the challenges that have to be overcome before the first rigs start producing, says Paul Wolff, a member of the Manica Oil and Gas team. “The logistics of getting everything in place is immense. Even before the actual drilling starts, seismic readings and other exploration work has to be carried out, and it is very expensive. Oil companies often have to find investors, rigs and suitable personnel before they can start with operations,” he explains. Referring to comments by media columnists that Namibia’s new found natural riches could either see the country become a second Norway (where the oil boom led to prosperity) or a second Nigeria (where the oil boom led to corruption), Wolff cautions that Namibia cannot be compared to other oil producing nations in such stark terms. “It’s still early to say how Namibia’s oil and gas industry will affect the country’s economy, as many of the prospective oil companies are foreign. “What we can say is that Namibians will benefit from the industry as it will create job opportunities and generate revenue in various other sectors - not only in logistics. From our side we ensure that we use only Namibian suppliers as far as we can,” he added.