Namibia is rapidly advancing the development of its Namibian content policy, with the draft National Upstream Petroleum Local Content Policy expected to be ready for approval soon. The inter-governmental committee working on Namibian Content have met and made a commitment to accelerating local content development in the country.
Following a string of commercial hydrocarbon discoveries made since 2022, Namibia has prioritized the inclusion of local content in its oil and gas development agenda. With the National Upstream Petroleum Local Content Policy – currently undergoing stakeholder consultation – the government is prioritizing the participation of Namibians in its oil and gas industry by facilitating market access and financing for Namibians. The policy aims to create a competitive and globally-recognized supply chain in Namibia while maximizing the development of oil and gas resources.
According to Namibia’s Minister of Energy and Mines Tom Alweendo, “The draft policy outlines a pathway for Namibian citizens and companies to benefit from our natural resources by increasing their participation in the oil and gas industry, from exploration and production and throughout the entire industry’s value chain.”
In addition to business opportunities, the Policy promotes sustainable resource development, energy independence and economic diversification and the transfer of technology and expertise. The policy ensures in-country resource wealth retention and adherence to global environmental standards, while establishes a stable and transparent regulatory framework for local content. With the policy, Namibia is well-positioned to not only drive oil and gas development but broader economic growth.
“We at the Ministry are striving to enact the framework to create an internationally competitive petroleum sector that maximizes the benefits for our people and leverages our natural resources for broader national development. We are laser-focused on achieving a balance between increasing local participation and attracting foreign investment,” added Minister Alweendo.
