By: Big Lips
Based on an investment company called Alpha Sierra, Namibia has promises for being one of the world’s biggest oil producers.
The conclusion was based on the fact Namibia may have geology comparable to the pre-salt fields offshore Brazil, which holds 16 billion in crude reserves.
Alpha Sierra said there’s so much potential in the region that Exxon Mobil acquired seven million net acres to expand its exploration acreage in offshore Namibia through an agreement with Namcor.
An analysis done in 2014 states a 30,000-foot sedimentary basin believed to have oil-rich hydrocarbons.
One expert from Earthfield Technology, Bill Cathey, told a journal that nowhere has there been a sedimentary basin this deep that does not produce vast quantities of hydrocarbons.
The question is: Does Namibia have any oil, or are companies using Namibia to make money on the stock exchanges across the world?
Deputy Prime Minister Netumbo Nandi-Ndaitwah said Namibia should be wary of the curse of oil.
Her words: We are hoping that should the oil discovery come true, it will be exploited in a way that benefits the Namibian people.
She added: As we stand now, our peace is very fragile when you have so many young people unemployed. We are happy to have oil. We hope that it will contribute to shared prosperity”, she noted.
She further said: We need to have functional ports, we need to have railway infrastructure.
Comments