Energy – Windhoek Observer

01 Dec

Custos Energy achieves milestone in Orange Basin oil exploration

ObserverEnergy, National News

Allexer Namundjembo Custos Energy (Pty) Ltd has announced another milestone in its oil exploration and appraisal campaign on Blocks 2813A and 2814B, situated in the Orange Basin. The Orange Basin, recognised as one of the world’s most promising oil and gas frontiers, continues to unveil its vast potential. Walvis Bay-born businessman Knowledge Katti, who is the chairman and CEO of Custos, expressed the company’s enthusiasm about the findings. “The continuing progress on PEL 83, including the results from the Mopane-1A appraisal well, further unveil the potential and quality of the Mopane complex,” he said. The well was spud on October…

21 Nov

Uranium demand to increase

ObserverEnergy, Observer Money

CHAMWE KAIRA Australia-based uranium production company Deep Yellow, which has forecast that the world’s uranium requirements in the late 2030s and early 2040s will reach between 250 million pounds of uranium oxide and 300 million pounds. In 2023, global production was 150 million pounds. Deep Yellow is developing the Tumas project in the Erongo Region. Managing director John Borshoff noted that there have been no new production mines around the world, despite the spot price ranging from $78 to $106 per pound. He further pointed out that the political situation in Russia, Niger and Kazakhstan presents supply growth uncertainty. In…

07 Nov

Oil discoveries throw Namibia into spotlight

ObserverEnergy, Observer Money

CHAMWE KAIRA The recently discovered oil fields offshore Namibia could potentially be one of the last big oil and gas discoveries in the world. Laurent Ruseckas, executive director, gas industry, Europe, the Middle East and Africa at S&P Global told Observer Money that Namibia maybe the last oil and gas giant find to be discovered. Namibia has become an oil exploration hotspot after several discoveries by oil majors including Shell and Total estimated at 2.6 billion barrels. He added that large fields are economic to manage because the unit prices are low. Ruseckas is a specialist on gas markets, gas…

04 Nov

Africa Oil moves with Venus development

ObserverEnergy, Observer MoneyFarm Down, Roger Tucker, TotalEnergies EP Namibia project

Ester Mbathera Africa Oil Corp. announced the completion of a strategic farmdown by its investee company, Impact Oil & Gas, in Blocks 2912 and 2913B, known as the Farm Down to TotalEnergies EP Namibia project. The company announced last week that Impact received approximately USD 99 million and retains a 9.5% interest, benefiting from a carry loan to cover remaining costs until the first oil production. Africa Oil president and chief executive, Roger Tucker, said the Farm Down allows the company to retain a funded interest in the Venus development project that is expected to add significant reserves and production…

27 Oct

Green hydrogen revolution driven by strong partnerships

ObserverEnergy, Observer MoneyGreen Industrialisation Blueprint

Niël Terblanché Namibia’s ambition to lead Africa’s energy transition, aligning with its Green Industrialisation Blueprint has taken another step forward with the visit by Lei Zhang, founder of Envision last week. Collaboration with Envision, a global leader in renewable energy established in China, will boost Namibia on its journey towards becoming a key player in green industrialisation. Zhang met with government officials to explore opportunities to position the country as a major hub for green hydrogen production. During his visit, Zhang engaged with key figures such as Obeth Kandjoze, chair of the Green Hydrogen Council, and Lucia Iipumbu, minister of…

23 Oct

Namibia’s oil industry set for major growth by 2025

ObserverEnergy, Observer MoneyFinal Investment Decision, Graff-1X well

Oliver Diggle Since Shell's 2022 oil discovery at the Graff-1X well, the Namibia oil sector has gained significant international attention. The prospect of the new industry providing significant local content opportunities and in generating substantial government revenue has provided a degree of hope to a stumbling economy. The probability of ever reaching first oil in a market-enabling economic and judicial state has constantly been debated. However, as more information comes to light, that probably is becoming ever more likely. 2025 is expected to be pivotal for offshore drilling in Namibia, with over a dozen wells planned by companies such as…

23 Oct

Nuclear science and technology conference aims to unlock development potential

ObserverEnergy, Observer MoneyAfrican nuclear landscape, International Atomic Energy Agency (IAEA)

Niël Terblanché Namibia aims to position itself as a key player in the African nuclear landscape while exploring the potential of the latest technology to find sustainable solutions to the country’s energy needs to support industrial growth and environmental sustainability The Second Nuclear Science and Technology Conference commenced in Swakopmund on Wednesday and brought together experts, policymakers, and international stakeholders to discuss the role of nuclear science in Namibia’s development. The event has attracted international experts from the International Atomic Energy Agency (IAEA) and various African nations. The conference, themed “Unlocking the Potential of Nuclear Science and Technology for Namibia’s…

17 Oct

NASRIA eyes oil and gas sector

ObserverEnergy, Observer Money

CHAMWE KAIRA Namibia Special Risks Insurance Association Limited (NASRIA) is exploring possibilities of tailored products that the firm can offer to the emerging oil and gas sector following discoveries in the Orange Basin, chairman Adrianus Vugs has said. The company recently handed over a dividend of N$16 million for the 2024 financial year to its sole shareholder, the government. Vugs said that the dividend handover is a testament to the collective efforts of NASRIA’s dedicated team, the guidance of the Board, and the strategic direction provided by government. “This dividend is not just a financial transaction; it represents the culmination…

10 Oct

Stand-alone off-grid solar solutions needed

ObserverEnergy, Observer Money

Off-grid solar energy is emerging as a game-changer for Southern Africa's power challenges. Patrick Tonui, Head of Policy and Regional Strategy at GOGLA, is at the forefront of this revolution. In a conversation with Observer Money, he discussed how off-grid solar is helping to close energy gaps in Namibia and South Africa, providing affordable and sustainable options for millions of people. Observer Money (OM): How will off-grid solar help with the power deficit in Southern Africa, including Namibia? Patrick Tonui (PT): Off-grid solar solutions can play a key role not just as the quickest, most efficient way to provide first-time…

06 Oct

Cirrus Capital warns against investing public money in green hydrogen

ObserverEnergy, MainGH2Namibia, Rowland Brown

Ester Mbathera Cirrus Capital, a corporate advisory, capital raising, and research company, has warned against public borrowing or any use of taxpayer subsidies for the development of green hydrogen initiatives. In a commentary released last week, the company’s founder, Rowland Brown, said the warning stems from the risks surrounding green hydrogen. “We further note that Namibians should hope that the hydrogen hype delivers. However, using Namibian public funds for this is nothing short of reckless, especially given the ample other, very real, demands on the public purse. Using Namibian tax-payers funds, whether from the revenue of today or through borrowing…