President Nangolo Mbumba has called for stronger collaboration between Namibia and Ghana to harness Ghana’s expertise in the oil and gas industry. This appeal comes as Namibia faces challenges in developing its recently discovered offshore oil resources.
During a two-day visit to Accra for the inauguration of Ghana’s newly elected President, John Dramani Mahama, President Mbumba emphasized the need for Namibia to learn from Ghana's experience in managing its oil and gas sector. The two leaders engaged in bilateral talks focused on strengthening economic ties and exploring opportunities in energy and agriculture.
“The Namibian people would count on Ghana for expertise and would greatly benefit from the experiences of Ghana in the oil and gas sectors, including mining as a whole,” President Mbumba stated. He further highlighted the need to deepen commercial relations, noting progress in bilateral trade, particularly in commercial agriculture and the beef industry.
President Mahama echoed the sentiment, stressing the importance of African nations asserting greater ownership and control over their natural resources. He also encouraged stronger cooperation in agriculture to drive economic growth across the continent.
This diplomatic engagement comes in the wake of Shell's announcement to write down approximately $400 million on its oil discovery offshore Namibia. The energy giant deemed its find in block PEL39 commercially unviable due to technical and geological challenges. Shell, alongside partners QatarEnergy and Namibia’s national oil company, had initially discovered hydrocarbons in the block in 2022. This discovery, along with a nearby find by TotalEnergies, had sparked global interest in Namibia as an emerging oil player.
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| Shell discovered oil in Namibia |
Despite the setback, Shell remains cautiously optimistic. In a statement, the company acknowledged the challenges but emphasized that "the extensive data collected shows that there remain opportunities." Shell added that it is working with its partners to explore potential commercial development pathways and seeking further exploration opportunities in Namibia.
Adding to the mixed outlook, Portuguese oil company Galp also recently reported a significant offshore discovery in Namibia. However, the broader development of Namibia’s oil sector remains uncertain as companies grapple with the complexities of offshore resource extraction.
As Namibia navigates these challenges, President Mbumba’s outreach to Ghana signals a strategic move to learn from countries with established oil industries. Strengthening ties with Ghana could provide Namibia with valuable insights to overcome hurdles and unlock the potential of its natural resources.