Race to get slice of oil and gas cake kicks off as Petrofund hosts workshop for MSMEs
Race to get slice of oil and gas cake kicks off as Petrofund hosts workshop for MSMEs
Business Reporter KNOWN to use drilling technologies that reach depths of 3,000 metres on the Namibian ocean floor—the abyssal zone, where light ceases to be—the technologies used in Namibia’s Orange Basin are capital-intensive and are said to be more advanced than those used to reach the moon. Whilst the Namibian government has promoted the local content strategy, which aims to maximise the participation of Namibian businesses and personnel in the oil and gas sector by prioritising local hiring, goods, services, and skills transfer, policy alone cannot ensure participation. In an effort to help Namibian Micro, Small, and Medium Enterprises (MSMEs) understand the opportunities available and the global standards required by International Oil Companies (IOCs), Petrofund, Namibia’s Petroleum Training and Education Fund, has commenced a two-day workshop at the Hilton Hotel in the capital.
PICTURED: Some scenes from the workshop. Source: Petrofund. Speaking at the event, the Minister of Industries, Mines and Energy, Modestus Amutse, explained that the workshop initiative directly aligns with the Government of the Republic of Namibia’s strategy to increase the contribution of the MSME sector to the national economy from 16% to steady growth, as set out under the Sixth National Development Plan (NDP6).
“This workshop is particularly significant because Namibia is building this industry from the ground up. It is crucial that our local businesses gain a clear understanding of the upstream petroleum lifecycle, investment decision processes, and procurement frameworks utilised by operators. A strong understanding of tendering procedures, qualification criteria, health and safety expectations, standards compliance, and operational requirements will enable MSMEs to position themselves competitively,” Amutse said.
He added that insights from financial institutions on available funding mechanisms will help local enterprises access capital and prepare for procurement contracts. “I, therefore, urge our entrepreneurs, managers, and technical teams to fully embrace this learning opportunity. Now is the moment to grasp how to secure the certifications, partnerships, systems, and financial readiness required to participate meaningfully in the upstream oil and gas sector.
The role of MSMEs is indispensable; they are the backbone of inclusive growth, job creation, and national capability development,” Amutse said. He further noted that as Namibia progresses towards its first Final Investment Decision (FID), this marks a critical milestone and brings the prospect of first oil closer to reality. “This trajectory places a collective responsibility on us to accelerate local capacity development.” “Her Excellency, the President of the Republic of Namibia, has directed that the fortunes of Namibia’s oil and gas industry must translate into economic opportunities and thereby uplift Namibians through opportunities such as jobs and business operations.”