Namibia is eyeing private investment for a N$40 billion ($2.1 billion) extension of port infrastructure following major offshore oil discoveries, Andrew Kanime, Namibian Ports Authority Chief Executive Officer, told the US media.
According to the official, the Walfish Bay (west-central Namibia) and Luderitz (southern part of the country) projects provide for the delivery of new wharves and quaysides to facilitate drilling operations.
Kanime expressed hope that the authorities will proceed with the projects in the last quarter of next year, which will take no longer than three years.
"As a port authority we are moving toward a landlord model," he said as quoted by the outlet. "We want private companies with both technical expertise and financial resources to invest in this space."
The expansion plans likewise include the construction of a second port in Luderitz, as well as other additions to serve multi-platform ships.
Last year, two wells, Venus-1 and Graft-1, drilled in Namibia's Orange Basin by oil giants Total Energies and Shell, discovered light oil with associated gas.
Namibia discovered its third major oil field in the Orange Basin in early March 2023, with Shell and QatarEnergy successfully drilling the Jonker-1X exploration project, leading to increased exploration and appraisal activity in the country.
The National Petroleum Corporation of Namibia (NAMCOR) said in June that it anticipates the country to commence oil production by 2029.
Namibian Minister of Mines and Energy Tom Alweendo on Thursday warned that the country's recent oil and gas discoveries alone are not a "cure" for the state's socio-economic problems. The minister added that there is need for a greater role for the country's leadership in the management of oil and gas exploration and production.