Namibian officials are overhauling petroleum regulations to draw foreign capital and protect state priorities as the country responds to major hydrocarbon finds off its coast. Kornelia Shilunga, who leads the Upstream Petroleum Unit and advises the president, said on Friday that the 1991 legislation governing exploration and production is being updated. Authorities plan to create an autonomous regulatory body and draft measures placing the petroleum unit directly under presidential oversight.
The revisions aim to keep investment conditions attractive while ensuring laws match current industry practices both domestically and worldwide, Shilunga explained. Officials visited Angola, Guyana, and Norway to study how those nations structured their regulatory agencies. Shilunga noted that even international regulators initially operated under government control before gaining independence.
Recent exploration successes include discoveries by Rhino Resources at PEL 85, TotalEnergies at PEL 56 Venus, and Galp at PEL 83 Mopane. The petroleum unit has launched field development workshops with companies like TotalEnergies to shape final investment choices. TotalEnergies leadership indicated in September that development of Venus would wait until fiscal and operational details are settled with authorities. The company delayed its investment decision originally planned for 2025 through 2026.
The revisions aim to keep investment conditions attractive while ensuring laws match current industry practices both domestically and worldwide, Shilunga explained. Officials visited Angola, Guyana, and Norway to study how those nations structured their regulatory agencies. Shilunga noted that even international regulators initially operated under government control before gaining independence.
Recent exploration successes include discoveries by Rhino Resources at PEL 85, TotalEnergies at PEL 56 Venus, and Galp at PEL 83 Mopane. The petroleum unit has launched field development workshops with companies like TotalEnergies to shape final investment choices. TotalEnergies leadership indicated in September that development of Venus would wait until fiscal and operational details are settled with authorities. The company delayed its investment decision originally planned for 2025 through 2026.
