The announcement of large oil & gas deposits in Namibia by #totalenergies and #shell , takes #Namibia from an “emerging” to a fully “developing basin”.
Early estimates suggest up to 3 billion barrels of light crude in place, with a potential revenue of $3.5 billion annually in royalties and taxes to the Namibian state.
To be successful in maximising these resources, the #AfricanEnergyCouncil believes Namibian authorities must closely understudy the successes and challenges from mature oil & gas players like #nigeria , #angola and more recently Ghana.
Crafting policies that return benefit to the Namibian state (and citizens) as opposed to large corporations will be critical to success. #energy #namibia #namibiaoil #gas #oil #success #taxes #nigeria #corporations #africanenergycouncil #africaenergy #africaoil
