Top petroleum officials to declare assets under new law

Senior officials set to run Namibia’s upstream oil and gas sector will be legally compelled to declare their assets and financial interests under proposed amendments to the Petroleum (Exploration and Production) Act, as government moves to ring-fence the emerging industry from corruption and conflicts of interest.

The Petroleum (Exploration and Production) Amendment Bill, 2025, debated in parliament yesterday, will require the director-general and deputy director-general of the proposed Upstream Petroleum Unit to disclose their assets and liabilities as a condition of holding office.

Minister of Industries, Mines and Energy Modestus Amutse said the provision is designed to safeguard the integrity of public office and strengthen transparency at a time when Namibia is on the brink of becoming an oil-producing nation.

“These measures are meant to strengthen public confidence and uphold the principles of integrity and transparency in the administration of the petroleum sector,” Amutse told parliament during the bill’s second reading.

Broad mandate for new upstream unit

Under the proposed amendments, the Upstream Petroleum Unit will be responsible for regulating, managing and coordinating all petroleum exploration, appraisal, development, production and decommissioning activities.

Its mandate includes conducting inspections and audits, managing upstream petroleum data, maintaining a national petroleum data repository, forecasting economic performance in the petroleum sector and publishing an annual public report.

Government says the unit is intended to strengthen regulatory oversight and improve coordination across the rapidly developing oil and gas value chain.

Expanded conflict-of-interest rules

To reinforce ethical governance, the Bill retains and updates conflict-of-interest provisions, barring officials and staff involved in petroleum regulation from holding shares or financial interests in companies that hold petroleum licences.

The provisions apply to senior officials as well as inspectors and other staff members of the Upstream Petroleum Unit. Contraventions will attract penalties of up to N$20 000 or imprisonment for up to five years.

Amutse said these measures are aimed at preventing regulatory capture and ensuring the independence of petroleum oversight institutions.

Law updated to reflect new governance structure

The amendments also broaden and clarify key legal definitions within the Act, formally introducing concepts such as “upstream petroleum activities”, “petroleum affairs” and “staff member”.

At the same time, the Bill removes outdated references to the commissioner, ministerial officers and legacy administrative structures that no longer reflect the current governance framework of the sector.

The bill comes amid heightened scrutiny of governance arrangements following President Netumbo Nandi-Ndaitwah’s decision to place the petroleum sector under the Office of the President.

Government maintains the move is intended to fast-track development, enhance coordination and curb corruption in the emerging industry.

Opposition warns against centralisation

However, the proposed changes sparked sharp criticism from opposition lawmakers, who warned that centralising authority in the presidency could weaken institutional independence and undermine long-term governance principles.

Official opposition leader McHenry Venaani cautioned against what he described as legislating to suit those in power rather than the country’s future needs.

“It’s very difficult when we legislate to suit individuals or personalities instead of focusing on how the country will benefit in the long run,” Venaani said.

Geingob legacy cited in debate

Venaani accused the ruling party of departing from the late President Hage Geingob’s governance philosophy, which emphasised strong institutions over direct presidential involvement in investor relations.

“President Geingob believed in systems, processes and institutions. He was very adamant that the culture of presidents directly involving themselves with investors is wrong,” Venaani said.

He warned that Namibia was now entering “uncharted waters”, arguing that legislation should reflect a national vision rather than revolve around a single leader.

Calls for public consultation

Independent Patriots for Change (IPC) leader Imms Nashinge echoed concerns about accountability and public participation, questioning whether sufficient consultation had taken place before restructuring control of the sector.

“We have a country to take care of — one we must preserve for the next generation,” Nashinge said, calling for broader engagement across all 14 regions and 121 constituencies.

Nashinge also questioned accountability mechanisms within the proposed framework, particularly regarding annual reporting by officials who are not directly accountable to the public. - [email protected]