By: Hertha Ekandjo
Namibia is yet to determine the cumulative volume of oil it will produce, despite announcing three major discoveries in recent years.
Economist Abednego Katuushii Ekandjo who works for the Ministry of Mines and Energy explained that estimating volumes is challenging as the industry is far from achieving commercial production.
He added that predicting the volume and value of oil production is premature due to various ongoing factors that could influence the production process.
“We can not really put specific numbers on it at this point in time. Production will also be affected by many factors, future factors. Also looking at how the market will perform at that point in time and certain production targets of government and companies,” he explained.
He made these comments in the wake of yet another announcement that Portuguese mining firm Galp Energia has discovered a “significant column of light oil in reservoir-bearing sands of high quality” on its Mopane-1X exploratory well in the Orange Basin, offshore Namibia.
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