WINDHOEK, Aug. 21 (Xinhua) -- Namibia is on track to become one of Africa's leading oil producers by 2035, potentially producing more than half a million barrels of oil per day, an official said on Wednesday.
This development could see the country displace Egypt from the top five oil producers on the continent, Ebson Uanguta, interim managing director of the National Petroleum Corporation of Namibia (NAMCOR), said while speaking at the Namibia Oil and Gas Conference in Windhoek, the country's capital.
Uanguta revealed that recent discoveries in the Orange Basin have positioned Namibia as a significant new player in Africa's energy sector.
"With four floating production storage and offloading units deployed by 2035, we could be producing more than half a million barrels per day of oil equivalent," he said.
This level of production would place Namibia among Africa's top oil producers, alongside countries such as Nigeria, Angola, and Libya, he added.
Currently, Egypt produces about 500,000 barrels per day, a figure Namibia could surpass if all planned projects reach their production peaks.
The potential increase in output is driven by accelerated exploration and development activities and supported by advanced deep-water technologies, Uanguta said. These efforts are expected to boost Namibia's oil output and contribute to the country's economic growth.
Uanguta added that NAMCOR remains optimistic about the sector's future, with more exploration and appraisal activities scheduled for 2024 and 2025. ■
