Namibia’s offshore oil and gas industry is set for significant growth in 2025, driven by new licensing opportunities and an uptick in drilling activities, Petroleum Commissioner Maggy Shino announced during a webinar hosted by the African Energy Chamber (https://EnergyChamber.org), Wood Mackenzie and Namibia’s Ministry of Mines and Energy. The move is set to attract fresh investment as the country cements its status as one of the world’s most promising oil frontiers.

“We are operating in an open licensing regime and will be receiving applications shortly,” Shino stated, noting that available acreage spans deepwater, ultra-deepwater and shallow-water environments.

Meanwhile, development is accelerating on two of Namibia’s most significant discoveries. TotalEnergies’ Venus project in Block 2913B remains on track for a final investment decision (FID) in 2026, with new data confirming better density and permeability compared to surrounding blocks. On Galp’s Mopane discovery, Shino revealed that 3,500Km² of high-density seismic data were collected this week to refine volume estimates and advance the project toward FID.

On Shell’s PEL 39 discovery – where the company recently wrote down $400 million – the Commissioner said Shell and its partners are analyzing data from the nine wells drilled so far to “ensure we have designed a pathway to development” and to determine the next steps.

Namibia’s offshore basin remains vastly underexplored, despite its enormous scale. “The scale is enormous – there’s 220,000 square kilometers of offshore license acreage,” said Ian Thom, Research Director for Sub-Saharan Africa Upstream at Wood Mackenzie. “With just over 20 exploration and appraisal wells drilled, this area is still hugely underexplored.”

“The resources are definitely there,” said Verner Ayukegba, Senior Vice President of the African Energy Chamber. “The big questions now revolve around sub-surface conditions, gas content and how best to commercialize these discoveries.”

Drilling activity in Namibia is set to ramp up in 2025, with seven wells expected this year alone. BW Energy plans to drill at the Kharas prospect within the Kudu license, while Rhino Resources awaits results from two high-impact wells in PEL 85. In South Africa’s Orange Basin, TotalEnergies is expected to drill in Block 3B/4B, and Shell may drill in an ultra-deepwater block near the maritime boundary with Namibia.

On the Kudu license, Shino stated that BW Energy has “identified new targets with upside potential – not only for gas, but also for oil within the main area,” with two wells planned by year-end.

As Namibia advances toward first oil production, the government is committed to ensuring that petroleum discoveries translate into long-term economic benefits for the nation. “We are offering a sustainable operating environment, ensuring all discoveries are in a race to first oil while making a lasting impact on the local economy,” said Shino. Namibia's stable economy, industry alignment, respect for contract sanctity, expansive basins available for exploration and commitment to delivering sustainable energy resources position it as an attractive destination for investment.

Namibia’s exploration boom and available licensing opportunities will take center stage at African Energy Week (AEW): Invest in African Energies 2025, where government leaders, industry executives and investors will discuss the latest developments firsthand. With major discoveries advancing toward production and new blocks opening for investment, AEW offers unparalleled access to key decision-makers shaping Namibia’s energy future.