The deputy minister stresses importance of good governance and inclusive growth as the country navigates opportunities and challenges in its emerging energy sector.

The second edition of the Namibia Oil and Gas Conference (NOGC) commenced on Wednesday (21 August) in Windhoek, drawing industry leaders from across the globe to explore the country’s burgeoning oil and gas sector.

Themed “The Next Step Towards Prosperous Oil and Gas Industry,” the international conference aims to uncover opportunities within Namibia’s energy landscape and facilitate the exchange of insights among global industry players.

In her keynote address, Namibia’s deputy minister of mines and energy, Kornelia Shilunga, who represented Energy Minister Tom Alweendo, emphasised the critical role of Namibia’s oil and gas discoveries in driving industrialisation, economic diversification, and job creation.

She emphasised the need for inclusive participation in these developments.

“Good governance of our upstream petroleum sector is imperative to ensure that potential economic benefits related to the exploitation of Namibia’s oil and gas resources are shared fairly and equitably,” Shilunga stated.

She also highlighted the importance of learning from international examples, acknowledging that while Namibia’s emerging petroleum industry offers significant opportunities, it also presents challenges.

“We are fully aware that the emerging petroleum industry will bring not only transformational opportunities but also challenges,” Shilunga warned.

“There are many examples around the world whereby oil and gas exploitation have negative socio-economic and political impacts. Therefore, we should not take the resources curse lightly and we must learn from others’ experiences.”

Source: Asaase Radio