Energy major Chevron is committed to developing Namibia’s oil and gas resources and will be in the country “for the long-run,” the company’s General Manager of Corporate Affairs, Mamadou Marcel Blondin Beye, announced. Speaking during the Namibia International Energy Conference (NIEC) – taking place April 23-26 – Beye stated that “the government has done a fantastic job at implementing policies,” effectively leading to major discoveries in the country.
The energy major plans to drill up to ten exploration and appraisal wells in the country’s Orange Basin in 2024, having farmed-in to Block 2813B in 2023. With nine oil and gas discoveries made since 2022, Namibia’s Orange Basin offers strategic opportunities for companies to make sizeable finds.
Energy Capital & Power is a strategic partner of the Namibia International Energy Conference – taking place in Windhoek on April 23-25, 2024. The 6th annual conference unites industry leaders, business executives and policymakers to engage in dialogue, exchange ideas, create new partnerships and identify strategies to foster a prosperous energy industry in Namibia and beyond. For more information, please visit https://www.nieconference.com/.
Beye drew insight into the paradox of natural resource wealth and lack of electricity in Africa, promoting the development of natural gas as a catalyst for achieving energy security. Africa has approximately 620 trillion cubic feet of proven natural gas resources, and with much of these undeveloped, has a unique opportunity to develop projects for both export and domestic utilization.
“Our strategy is two-fold: to continue looking at opportunities for LNG to export to global markets while also looking at opportunities domestically,” added Beye.
As a relatively clean energy resource, natural gas stands to play a role as both a catalyst for the energy transition as a vital tool for achieving energy security. In Africa, a just transition – whereby gas plays an integral role – would serve to drive industrialization and energy access while bolstering economic growth.
“It is very important for the energy transition to be just. This is why we have never stopped producing oil and gas. We are supplying the market and there is a demand. If we have the right policies, companies can work together to tackle these problems of lack of electricity,” he said.
In addition to Namibia, Chevron has been operating in Angola for more than 60 years. The company is part of a joint venture that manages the Angola LNG project, a 5.2 million tons project that exports LNG to international markets.
“For the first time, companies joined together with the government to have an energy plant to capture associated gas – the first in the world. Today, 80% of that gas is going to Europe. We have minimum flaring, with everything else captured to generate revenue. Angola used to import Butane, and today, we are supplying 100% of the market. This way, you can supply the market while driving a just transition,” Beye explained.
Chevron also has interests in Block 0 and the deepwater Block 14 in Angola. Beye stated that Chevron is also committed to Angola for the long-term. “We have renewed our interests in Block 0 for another 20 years,” he remarked.