Post #233

🇳🇦it Is Never Too Late to Pump Some dream of outer space, while others dream of digging deeper 🌍TotalEnergies and Chevron have set their sights on a $10 billion field in Namibia.This asset, the Mopane oil field, was discovered in 2024 during a series of breakthrough oil discoveries in Namibia. 🔸Namibia does not have its own oil production yet, but it desperately wants to - since the early 2020s, several large fields have been discovered in the country, including Mopane. Namibia's authorities expect the country to become one of the 15 largest oil producers by 2035. 🔸 Proven oil reserves in Namibia amount to approximately 15.1 billion barrels. Current production plans are projected at around 150,000 barrels per day, with first oil expected in 2029–2030. 🔸 The government's goal is to reach 500,000 barrels per day by the mid-2030s, which would place the country between Algeria and Qatar in terms of production levels. 🔸 Namibia's road to oil power status dates back to the middle of the 20th century. A lot off exploration work had been carried out, but to no avail. In addition, Namibia has long been a geopolitically toxic place. ⏩ Now that oil wealth has finally come to the country, will Namibians surely become rich? Perhaps, but most likely it will be the French and Americans who will get rich. 🔸 Unfortunately, it seems that Namibia has learned nothing from the experience of many other countries. The country's legislation provides for only a 10% state share in new oil projects, and oil royalties are only 5%. Devils Below