Namibia reassures oil and gas investors amid policy changes and project delays

Speaking at the Namibia Oil and Gas Conference, mines and energy minister Modestus Amutse emphasized Namibia's reliability as a partner, addressing concerns as the industry awaits a final investment decision from TotalEnergies on its Venus oilfield project. Amutse highlighted institutional, policy, and fiscal certainty, stating that a new petroleum bill, which shifts control of the upstream petroleum sector to the Office of the Presidency, is a deliberate realignment to protect a sensitive sector, not a disruption. He affirmed the state's continued regulatory powers and oversight through annual reporting to the National Assembly.

The recent approval of the upstream petroleum local content policy also aims to provide additional policy clarity for investors. Head of the Upstream Petroleum Unit Kornelia Shilunga reiterated the government's commitment to balancing policy predictability with national interests, working collaboratively with operators on major projects, including the Venus oil project's final investment decision. She also mentioned ongoing efforts to strengthen the licensing framework and review the petroleum legal and fiscal regime.

Industry experts, including RMB's head of oil and gas strategy Angelique Peake and economist Almandro Jansen, noted that the government's statements were crucial for investor con