The Minister of Industries, Mines, and Energy has highlighted that placing upstream petroleum under the Presidency's Upstream Petroleum Unit is a strategic move aimed at safeguarding Namibia's emerging oil and gas sector.

Modestus Amutse made the remarks at the official opening of the Namibia Oil and Gas Conference in Windhoek today.

Amutse explained that the placement of upstream petroleum under the upstream petroleum unit in the ffice of the President is a deliberate realignment to protect a sensitive and strategic sector drawn from the experience of producing nations.

“It comes with full accountability, including our reporting to the National Assembly. The regulatory powers of the state remain clear and unchanged, and my ministry continues to carry the mandates of industrialisation, mining, energy, and downstream petroleum.”

As Namibia's oil and gas continue to evolve, the Special Advisor and Head of the Upstream Petroleum Unit, Kornelia Shilunga, assured that the government will continue to assess and strengthen its petroleum licensing framework to ensure that it remains competitive, transparent, and fit for purpose.

“The experiences gained from recent exploration activities, the scale of the discoveries made, and the complexity of future developments require us to continuously assess whether our laws remain adequate. The objective of these reforms is to strengthen the regulatory framework, improve clarity where necessary, and ensure that our legislation supports responsible petroleum development.”

Vice President Lucia Witbooi noted that Namibia's ambition is not to become an oil-producing country but to become a country that uses the petroleum opportunity intelligently to accelerate economic transformation.

“Petroleum revenue must not be treated as an invitation to consume more today at the expense of tomorrow. We must use a portion of resource income to strengthen public finances, support productive investment, and preserve wealth for future generations. Fiscal discipline will be as important as fiscal revenue. Government will continue to strengthen institutions, systems, and reporting mechanisms that support accountability and public confidence.”

This year's Namibia Oil and Gas Conference marks the fourth edition of the conference.

It attracted more than 1,500 delegates, 70 exhibitors, and 40 sponsors.