Windhoek: Speakers at the Eighth Namibia International Energy Conference on Wednesday called for stronger investment frameworks and regulatory certainty as Namibia advances towards future oil production and deeper integration into global energy markets. The Chief Executive Officer of Rhino Resources, Travis Smithard, emphasized the importance of learning from other emerging energy producers to develop Namibia's petroleum sector effectively.

According to Namibia Press Agency, Smithard highlighted Egypt's gas sector reforms as an exemplary case of attracting investment by allowing third-party access to infrastructure and creating an open market. He also mentioned Guyana's production-sharing framework as a model for balancing investor interests with national revenue management. Smithard remarked, "We can look to our friends and partners in other jurisdictions for lessons and guidance. What truly marks mastery is learning from their mistakes as well."

Meanwhile, Executive Chairperson of the African Energy Chamber, NJ Ayuk, stressed the need for Namibia to position itself as a competitive destination for global energy investment. "We're not competing for capital between Namibia, South Africa or Mozambique. We're competing with Guyana, Suriname, Qatar and Singapore," Ayuk stated.

International oil companies operating in Namibia, including TotalEnergies, have reaffirmed their commitment to offshore developments in the Orange Basin. The company has highlighted the technical complexity of Namibia's deepwater prospects, such as the Venus discovery, which is regarded as one of the largest recent offshore oil discoveries globally.

The four-day conference, themed 'The Road to First Oil and Beyond: Partnership, Investment, Growth,' has attracted more than 1,000 delegates from government, industry, and international energy companies.