The Namibia Economist

Oil and gas opportunities

An Oil and Gas conference later this year will focus on the sector’s development potential once a significant hydrocarbon resource is pinpointed either on land or offshore.
Rich Africa, a strategic advisory company specialising in natural resources law, policy and investment this week launched their international oil and gas conference that will take place for the first time in Namibia. The conference aims to explore the opportunities and challenges associated with the discovery of oil and gas. Themed “The Road to Discovery and Beyond”, the Namibia International Oil and Gas Conference and Exhibition is slated to take place at the Windhoek Country Club and Resort from 6 to 7 September 2012.
Delegates will range from government officials to investors, international oil and gas industry executives and most importantly, the local business community. The two-day conference will not only focus on discussion, debate and networking but will also include an exhibition featuring oil and gas companies and service providers. The exhibition is intended to allow a better understanding of the various elementsof petroleum operations and to identify possible business opportunities in this sector.
Speaking at the launch, Rich Africa Executive Director, Selma Shimutwikeni said that as a proudly Namibian company, Rich Africa Consultancy is organising this conference for the benefit of the country. “We are grateful to government and sponsors for making this important event possible” she said.
Rich Africa has confirmed the presence of international and national experts on diverse areas such as economics, finance, tax, geology, petroleum operations and specialized upstream legal matters. Complementing this spectrum of topics, are several industry players with international experience who will interact with stakeholders in the Namibian downstream petroleum industry. Invited speakers include Leon Muller, a local oil and gas expert, and economist Dr John Steytler.
Robert Mwanachilenga, the Country Manager and senior drilling engineer of Chariot Oil and Gas, believes that there is huge potential for growth of the oil and gas industry in the country and said the timing for the oil and gas conference is spot on.
He says that despite the oil and gas industry being a highly specialized industry, his company’s aim was to encourage maximum participation of local companies and experts in all its activities. “ We believe that the maximization of local content is the best way to create a sustainable industry,” Mwanachilenga emphasised.
The inaugural conference is endorsed by the Ministry of Mines and Energy, as the regulatory authority for the petroleum industry, as well as the Ministry of Trade and Industry, as the investment promotion ministry. The current sponsors of the conference are BP as the first and biggest supporter, Chariot Oil and Gas as co-sponsor. PricewaterhouseCoopers is a sponsor as business advisory partner.
At least 30 companies are expected to exhibit at the conference which is hoped to attract more than 4000 participants. No oil has yet been discovered in Namibia despite more than a decade of intense exploration. The Kudu gas field is the only known hydrocarbon source but at only 3 trillion cubic feet estimated size, is too small for viable extraction.

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