Namibia is at a critical stage in its emerging oil and gas sector, with billions of dollars in potential investment and job creation opportunities at stake.

This was the view of officials at the inaugural National Upstream Oil and Gas Local Suppliers Workshop hosted by Petrofund.

The workshop, convened under the National Upstream Local Suppliers initiative, brought together government officials, industry players, and local businesses to prepare Namibians to participate meaningfully in the country's rapidly developing upstream petroleum sector.

Delivering remarks on behalf of Mines and Energy Minister Modestus Amutse, Executive Director Erasmus Shivolo said the government recognises upstream oil and gas as a transformative economic opportunity for the country. 

"The Government of the Republic of Namibia recognises that the emerging upstream oil and gas industry represents a transformative economic opportunity for Namibia. For this reason, I commend the Petrofund for its foresight. Namibia is demonstrating to our citizens through the Petrofund that it is possible to provide structured capacity development, including local suppliers' development opportunities, before the first production of oil. These efforts are timely, strategic, and commendable."

Special Advisor in the Office of the President and Deputy Head of the Upstream Petroleum Unit, Carlo McLeod, said recent offshore discoveries positioned Namibia as a leading global exploration frontier, with a final investment decision set to determine the scale of development.

"Namibia stands at a defining crossroads. The decisions we make in the next three to five years – how we develop our people, structure procurement and build local supply bases – will determine whether the oil and gas sector becomes a transformative force for broad-based prosperity or another extractive industry that leaves too little behind. History is watching us."

Both officials stressed that the next three to five years will be decisive in determining whether Namibia's oil and gas resources translate into broad-based economic growth or limited gains.

The workshop aims to prepare local entrepreneurs to access opportunities in the oil and gas industry as the government pushes for inclusive growth in one of Namibia's most promising economic sectors.