OPEC seeks partnership with Namibia as country gears up for oil production by 2030

The OPEC+ oil producers group is setting its sights on Namibia for possible membership as the African nation gears up to become a major player in the oil industry by the next decade. With recent discoveries by TotalEnergies and Shell estimated at 2.6 billion barrels, Namibia is on track to start production around 2030.

The initial step for Namibia would be to join OPEC+’s Charter of Cooperation, a platform for dialogue on energy markets. Eventually, OPEC would like to see Namibia become a full member, according to NJ Ayuk, executive chairman of the African Energy Chamber.

OPEC has been engaging in talks with Namibia, with OPEC Secretary-General Haitham Al Ghais meeting with Namibian Minister of Mines and Energy Tom Alweendo to discuss potential collaboration. While Namibian Petroleum Commissioner Maggy Shino has expressed interest in joining OPEC, Minister Alweendo stated that OPEC membership is not currently being considered until Namibia begins oil production.

With talks set to continue in late April, Namibia could potentially reach a peak production capacity of 700,000 barrels per day by the next decade, according to energy consultancy Rystad Energy. While this is smaller than Angola’s output, further successful exploration could boost Namibia’s numbers.

As Angola recently left OPEC over disagreements on production levels, Namibia’s potential membership could bring a new dynamic to the organization and solidify its position as a key player in Africa’s oil industry.