Namibia seeks oil and gas investors

Oct 04, 2005 02:00 AM

Mines and Energy Minister Erkki Nghimtina has invited investors to exploit Namibia's oil and gas resources.
Speaking at the end of a four-day World Petroleum Congress in Johannesburg, South Africa, Nghimtina said that the Namibian government was offering easy procedures for international oil companies wanting to explore for oil and gas onshore and offshore.
"We like to invite investors to try their luck. It is very easy to apply for a licence for exploration," he said.

It takes about three months to award a licence to explore for oil and gas in Namibia. Current projects include the Kudu Gas Field and the Block 1711 exploration area.
Five basins have been identified for exploration -- the Orange, Luederitz, Walvis Bay, Kavango and the Namib basins, according to the minister.

However, Government was cautious not to repeat the mistakes of other countries in allowing investors to exploit its natural resources. Nghimtina said strict rules applied and every investor had to complete an environmental assessment.
He said Government was aware of concerns about the possible impact of oil spills on the marine environment and had stepped up its efforts with Angola, South Africa and Mozambique to protect the ecosystem.

Source: The Free Press Of Namibia
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