Image credit: African Energy Chamber
Image: TotalEnergies
With Namibia set to start oil production by 2029, the country is witnessing a surge in global investments across its E&P landscape, African Energy Chamber announced. From global energy majors to leading independents to regional energy companies and financiers, energy firms are ramping up their investments in what is poised to become the next major African producer. As international investors navigate Namibia’s evolving energy and mining industries, the newly-launched Alvenco Advisory will support companies as they expand their presence across the southern African country.
Namibia’s former-Minister of Mines and Energy, Tom Alweendo, is spearheading the launch of Alvenco Advisory, a new strategic advisory firm that represents the partner of choice for global companies seeking to make forays into Namibia. The firm will work closely with government stakeholders and global companies, aligning closely with the country’s energy goals by offering policy and regulatory support, strong alignment with national priorities, local stakeholder engagement and ESG focus as well as strategies for shared value and long-term returns.
Orange Basin developments
The launch of Alvenco Advisory comes as Namibia accelerates the development of offshore oil and gas discoveries made in the Orange Basin. TotalEnergies targets a final investment decision for its Venus discovery in 2026, with first oil expected in 2029. Galp is making progress with the development of the Mopane field following a string of positive results at exploration wells drilled in 2024 and 2025. The latest of these – the Mopane 3S well – revealed the presence of light oil and gas condensate. On the exploration front, Rhino Resources is making strides towards field development following a discovery at the Capricornus-1X well in April 2025 and the confirmation of a hydrocarbon reservoir at the Sagittarius-1X well in February 2025. Halliburton is set to drill two exploration wells at Block 2914 in PEL 85 while Stamper Oil & Gas Corp is also pursuing exploration projects in the Orange and Lüderitz Basins. Chevron is spearheading exploration in the Walvis Basin following its acquisition of an 80% stake in Blocks 2112B and 2212A. These investments seek to unlock a new hydrocarbon province in southern Africa.
“Namibia is on the cusp of extraordinary change,” stated Tom Alweendo. “With major oil discoveries and bold steps into green hydrogen, we have a unique opportunity and responsibility to ensure that our natural resources uplift all Namibians. Alvenco Advisory will not only support global investors in Namibia, but ensure their investments unlock tangible opportunities for the people of Namibia. We are here to align the goals of governments and investing companies.”
Alweendo has held various positions in Namibia, including Governor of the Bank of Namibia, Director General of the National Planning Commission and Minister in Charge of the National Planning Commission. In 2018, he was appointed Minister of Mines and Energy. His term ended in 2025. In this role, he oversaw all of the country’s major oil discoveries, and since these milestones, has maintained investor confidence through competitive policies, engagement with international operators and flexible investment structures. This laid the foundation for future growth across the market, setting the country up for continued success in the oil, gas and broader energy sectors.
Distributed by APO Group on behalf of African Energy Chamber.
