Namibia Plans $2.1B Port Expansion for Offshore Oil Production

Namibia Plans $2.1B Port Expansion for Offshore Oil Production

Namibia is seeking private investment to expand its port infrastructure worth $2.1 billion after significant oil discoveries offshore the southern African country, according to Bloomberg.

The project at Walvis Bay and Lüderitz involves the construction of new piers and quay walls to support drilling services, said Andrew Kanemi, chief executive of the Namibia Ports Authority. “We hope to start the process in the last quarter of next year, which will take about three years at most,” he said in an interview held in the capital, Windhoek.

The expansion plans also include building a second port in the town of Luderitz as well as other extensions to cater to multiple-platform vessels. Namport will provide land for the development and then invite private companies to establish operations as Kanime noted.

Namibia could reach its first crude production as early as 2029, state oil company Namcor said.

Avatar photo

Doaa Ashraf 454 Posts

Doaa is a staff writer with a Bachelor's Degree in Mass Communication, majoring Journalism from Ahram Canadian University. She has 2-3 years of experience in copywriting, and content creation.

Login

Welcome! Login in to your account

Remember me Lost your password?

Lost Password