President Hage Geingob has told his South African counterpart Cyril Ramaphosa that they should profit from the recent oil discoveries in Namibia.
Geingob said this yesterday during his state visit to South Africa.
“Moreover, Shell and Total Energies together with our national oil company, Namcor and investors from Qatar have discovered hydrocarbons not far from South Africa in the Orange Basin,” he said.
Namibia has made three oil discoveries over the last year in the Orange Basin offshore southern Namibia and bordering South Africa.
“This presents us with another opportunity for collaboration between our governments and the private sector in the oil and gas sectors,” he said.
Geingob has promised Namibians that these discoveries will bring prosperity and growth after the difficult years the country’s economy has faced.
The president has previously said with an estimated production of 6,5 billion barrels of oil, the discoveries could earn Namibia between N$60 billion and N$95 billion annually…
