As TotalEnergies advances plans to develop the offshore Venus Field 320km from Lüderitz, Namibia faces a critical leadership crisis that could jeopardize potential oil wealth. Despite progress on environmental clearance studies, uncertainty clouds government oversight after President Netumbo Nandi-Ndaitwah created an oil and gas portfolio within her office without clarifying operational details. The leadership vacuum has persisted for a month, leaving oil companies and stakeholders in limbo about reporting structures. Internal discord has further complicated matters, with Deputy Prime Minister Natangwe Ithete previously demanding Namibians should own “at least 50%” of resources or investors “must pack up and go” – contrasting sharply with former President Hage Geingob’s controversial “the oil is not ours” comment. The situation raises concerns about Namibia’s investment attractiveness at a critical juncture when TotalEnergies CEO Patrick Pouyanné has publicly cited policy stability as the decisive factor in their $6 billion Angola investment over Nigeria. Without clear leadership and expertise from successful oil nations like Norway, Namibia risks following Guyana’s path, where hindsight suggests government negotiation failures shortchanged citizens’ benefits from major discoveries.
Source: namibian.com.na
