Namibia’s state-owned Namibian Ports Authority (Namport) has announced plans for a $2.1 billion port infrastructure expansion project to support the southern African country’s burgeoning energy industry.
The expansion project will involve the construction of new berths and quay walls at the country’s major port of Walvis Bay as well as the construction of a new port in the town of Lüderitz.
Under the plan, Namport will set aside roughly 350 hectares of land for development and will collaborate with the private sector through public-private partnership agreements, allowing companies to establish operations under a landlord port model.
“We are hoping to commence with the operation in the last quarter of next year, which will take about three years at most,” stated Namport CEO, Andrew Kanime, adding, “We are seeking private companies with technical expertise and financial resources to invest in this space.”
With offshore activity in Namibia accounting for approximately 13% of rigs working on African waters, the project will be designed to support drilling services at the country’s primary port of Walvis Bay. Meanwhile, a port at Lüderitz is poised to provide market access for the mineral rich Northern Cape Province of South Africa.
The announcement comes after significant oil discoveries were made by supermajors, TotalEnergies and Shell, in Namibia’s offshore Orange Basin in 2022 and 2023, resulting in an estimated resource base of 7 million barrels of oil equivalent for the country. Namibia is expected to reach first crude production by 2029 and is poised to become Africa’s fifth largest oil producer by 2030.
Source: Energy Capital Power