The country’s oversight of the upstream sector has been consolidated within a dedicated unit in the Office of the President, with responsibility for technical review of development plans, coordination of fiscal and regulatory matters, and petroleum governance, including local content considerations.
In addition, government communications indicate ongoing consultation on petroleum legislation and a national local content framework, with an emphasis on skills development, domestic supplier participation, and institutional capacity ahead of any future production.
The Namibian Ports Authority has also outlined phased expansion plans for Lüderitz and Walvis Bay to support offshore energy activities, including oil and gas supply base capacity, quay wall expansions, and the interim use of existing facilities during early project phases.
“ Disclosures by both the operator and government consistently frame Venus as a potential catalyst for establishing Namibia as a new deepwater oil producer. While typical execution risks remain for a frontier offshore development, ongoing regulatory engagement, a finalized FEED package and firmed capital cost estimates support continued progress towards FID ,” highlighted Meren.
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