
(3 Minutes Read)
Following significant offshore discoveries in recent years and under the leadership of a new government, Namibia is keen to learn from Guyana’s successes and challenges in managing its hydrocarbon resources. Namibia is particularly interested in how Guyana has structured its regulatory framework, managed revenue inflows, and ensured that oil wealth translates into tangible benefits for its citizens.
Namibia is turning its attention to the small but rapidly growing South American nation of Guyana as it seeks to develop its own burgeoning oil and gas sector.Following significant offshore discoveries in recent years and under the leadership of a new government, Namibia is keen to learn from Guyana’s successes and challenges in managing its hydrocarbon resources. Namibia is particularly interested in how Guyana has structured its regulatory framework, managed revenue inflows, and ensured that oil wealth translates into tangible benefits for its citizens.
In a recent exclusive interview with OilNOW, Kornelia Shilunga, Special Advisor on Oil and Gas to Namibia’s President, revealed that a high-level delegation had undertaken a benchmarking visit to Guyana to study its oil and gas governance model.
“The President, Her Excellency Dr. Netumbo Nandi-Ndaitwah, feels we need to put up a structure, and also to put up a legal framework that will govern that structure for us to be able to manage our oil and gas sector,” Shilunga explained. This move underscores Namibia’s commitment to establishing a robust and transparent system before full-scale production begins, ensuring that the sector’s development aligns with national priorities.
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The Namibian delegation engaged with key Guyanese officials, including the Minister of Natural Resources and the Minister of Finance, to gain insights into revenue management, local content policies, and broader economic transformation strategies.