Despite shared borders and an uptick in offshore interest, neighboring countries South Africa and Namibia look to be going in opposite directions in the oil and gas industry.
Namibia is emerging as a potential powerhouse within the oil and gas industry, while South Africa, which has had recent large discoveries, is focusing more on renewable energy sources. Recent discoveries in both countries (Namibia’s Venus and Graff wells and South Africa’s Brulpadda and Luiperd wells) are driving interest in a region that is not normally associated with oil and gas.
“We have already seen Chevron getting into, or trying to get into, a block adjacent to the block where the Venus discovery happened. We are also seeing a couple companies looking to acquire funds to drill sort of exploration wells in the region,” Siva Prasad, an analyst on Africa at Rystad Energy, said of the February 2022 discovery of light oil with associated gas on the Venus prospect, located in block 2913B in the Orange Basin, offshore southern Namibia.