Namibia: Namibia's potential oil reserves could triple its economy and position it among the world's top 10 oil producers, former Minister of Mines and Energy Obeth Kandjoze has said.

According to Namibia Press Agency, Kandjoze, a geologist with over 10 years in the energy sector, has held various leadership positions including Chief Executive Officer of the National Petroleum Corporation of Namibia. Speaking to Nampa on the sidelines of the eighth Namibia International Energy Conference, which recently concluded in the capital, he said the emerging oil and gas sector in Namibia is seen as a catalyst for economic growth and the creation of meaningful job opportunities for young people.

Kandjoze asserted that while exploration continues, these discoveries could position Namibia as a global energy hub, provided the country effectively addresses the associated technical and economic challenges. "We are trying to get to what's in there for the benefit of Namibians, Africa as a continent, and the world as an integrated human existence," he said.

Kandjoze emphasised the importance of transforming this effort into a substantial initiative that harnesses the earth's resources for the benefit of the country, the African continent, and the youth. "It's significant, it's nationally significant, it's continentally important, and it's globally putting us on the map. For many years, in efforts to get the industry to pay attention, Namibia attended external conferences of this very nature. So, we must congratulate those who initiated that we have a foothold that will attract not just the dollars, but also bring people to physically participate. It's a great achievement," he said.

Kandjoze further asserted that, despite ongoing technical and commercialisation challenges, the nation is committed to using this success for broad domestic benefits, ensuring political stability, and avoiding dependence on a single industry. He warned that an oil and gas boom could detract from vital sectors like agriculture and manufacturing, stressing the need to maintain attention on these areas, despite the oil sector's high revenue potential.

While the discovery is significant, Kandjoze emphasised that the real work is just beginning, noting that the focus must now shift from finding oil to responsibly commercialising it to prevent economic pitfalls and empower the African continent.