Moçamedes - The Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, announced Monday that the drilling of the first well of Block 30 located at Namibe Basin is expected to kick off in 2024.
Speaking at the opening of the workshop on "Mineral Resources, Oil and Gas", the minister said the Namibe Basin will be more attractive and should attract more investment for hydrocarbon exploration and production, as well as opportunities for local companies and service providers.
According to the minister, the emergence of oil activity in Namibe has raised some concerns about the cohabitation between fishing and oil activities, adding that the oil industry operates with the most modern exploration and production tools, providing high levels of efficiency and safety, reducing impacts on the environment.
The minister revealed that more than 80% of the country's oil production comes from mature oil fields underlining the need to invest in the sector to increase exploration with the aim of replenishing the reserves produced and mitigating the decline in production.
Diamantino Azevedo said Namibe province has strategic infrastructures such as the Port of Namibe, the Saco Mar Mineral Port and the Moçâmedes Railway (CFM), which play an important role in carrying out activities linked to the local and national economy, including mineral activities and support for the oil and gas industry.
The minister added that the jointly held workshop by the Ministry of Mineral Resources, Oil and Gas and the Namibe government is in line with strategy to promote the potential of mineral, oil and gas resources of the province to attract investors and foster the economic development and well-being of the population.
Run under the slogan "Sustainable exploitation of mineral resources, oil and gas", the participants in the workshop are discussing environmental legislation, mineral resources, oil and gas, the ecological and mineral potential of the province, business opportunities and the facilities for setting up small industries in the mineral sector.
FA/AC/MRA/AMP
