Namibians must manage Recon, says CEO

26 July 2021 | Energy

OGONE TLHAGE

WINDHOEK

Oil exploration company Recon Africa says Namibians stand to benefit significantly if they take ownership of the oil exploration project, and not just from a shareholding perspective.

Its CEO, Scot Evans, made the remark when asked about the potential for increased local ownership in the project while appearing on the ‘Evening Review’.

The Canadian company is currently engaged in oil exploration in the Kavango East Region.

Strong laws

Evans said Namibia’s petroleum laws allow locals the opportunity to benefit significantly from any potential oil riches in future, adding that Recon intended to honour local laws.

“There’s a very strong set of petroleum laws in Namibia; they are world class. There are several phases to this project; there’s the exploration phase where we are right now and there’s the production phase and so those phases are all defined in the petroleum laws and we plan on honouring those laws,” Evans said.

According to Evans, great benefits would be derived if Namibians were involved in the company at various levels.

Namibianisation is key

“From the country’s perspective, my experience has been that the sooner we have a local organisation, nothing run by expats, an organisation that is run 100% by Namibians, and that we hire and train others, if that is on the ground from the very beginning and that has been our goal and that is where we are today, that is how the country benefits and that’s how best things move going forward, making sure that Namibia’s people run this company and their making good decisions (sic),” Evans said.

Optimism

Despite environmental concerns over the oil and gas exploration conducted by Recon Africa at Kawe village in the Kavango East Region, the recent announcement of an early discovery of a working conventional petroleum system has been welcomed as a sign of good fortune for the poor region.

Rundu Rural constituency councillor Paulus Mbangu had previously told Namibian Sun that the possibility of oil and gas reserves was great news for the country as oil is one of the commodities that have a great impact on the economy of some countries.

“In a nutshell, it would help the economy of the country and that of the region, as well as provide employment to the locals. Given the fact that our region is one of the poorest, the discovery is a welcomed move,” Mbangu said.

Similar News

 

N$14m budgeted for Ohangwena rural electrification

1 month - 22 December 2021 | Energy

TUYEIMO HAIDULAOSHAKATIOhangwena, one of the country’s poorest regions, is next in line to benefit from Nampower’s rural electrification project to the tune of N$14 million.The...

Namibian oil should not be discriminated against - Kandjoze

1 month - 15 December 2021 | Energy

NAMPAWINDHOEKWhile the global commitment is to cut emissions, Namibia should not be discriminated against for new oil discovery projects, such as the Canadian oil company...

Namibia’s fuel price rose 30% since January

2 months ago - 17 November 2021 | Energy

OGONE TLHAGEWINDHOEKThe year 2021 has been marked by several fuel price hikes, with information provided by the ministry of mines showing that prices have risen...

Hyphen preferred bidder for Nam’s hydrogen project

2 months ago - 05 November 2021 | Energy

Namibia has announced Hyphen Hydrogen Energy as the preferred bidder to develop a green hydrogen project in //Kharas, presidential economic advisor and hydrogen commissioner James...

Safety is paramount...

2 months ago - 29 October 2021 | Energy

Vivo Energy Namibia, the retailer and marketer of Shell-branded fuels and lubricants, has held its annual Safety Day, reinforcing the importance of Health, Safety, Security,...

Councillors slam Nored’s dividend payments

5 months ago - 20 August 2021 | Energy

KENYA KAMBOWERUNDULocal and regional authority leaders in Kavango East are demanding more from Nored, saying that the dividends and surcharges they get are a mere...

Mbangu welcomes ReconAfrica oil find

9 months ago - 23 April 2021 | Energy

KENYA KAMBOWERUNDUDespite environmental concerns over the oil and gas exploration activities being undertaken by ReconAfrica at Kawe village in the Kavango East Region, the recent...

Pay more for more extractive stakes: Mulunga

9 months ago - 16 April 2021 | Energy

MATHIAS HAUFIKUWINDHOEKNamcor boss Immanuel Mulunga says concerns over the government's minimal shareholding in mining and oil exploration projects across the country is due to the...

Nored sinks into the red

9 months ago - 25 March 2021 | Energy

OGONE TLHAGE WINDHOEKNorthern regional energy distributor Nored – which has not produced audited financial reports for over six years – is struggling...

Vivo Energy revitalised by new headquarters

10 months ago - 19 March 2021 | Energy

Yochanaan CoetzeeVivo Energy Namibia, the local licensee for Shell, yesterday celebrated the completion of their move into their towering new headquarters, aptly named “Vivo House”,...

Latest News

N$8.8 billion gained in export...

1 day - 21 January 2022 | Economics

PHILLEPUS UUSIKUNamibia gained about N$8.8 billion in exports earnings in November 2021, an increase of 1.3% when compared to N$8.7 billion recorded in October 2021....

NISS records settlement value...

1 day - 21 January 2022 | Economics

PHILLEPUS UUSIKUDue to high volumes of the new domestic electronic funds transfer (EFT) system streams, utilisation of the lending facilities, the purchase and resell of...

In the jaws of justice

1 day - 21 January 2022 | Justice

ELLANIE SMIT, JANA-MARI SMITH, MATHIAS HAUFIKU AND OGONE TLHAGE · Esau spent N$900k from undeclared account while...

Working with high standards of...

1 day - 21 January 2022 | People

Wetumwene Shikage Not expecting to find a smooth and easy way of work, Romario Arnat describes his working experience as an eye-opener as to how...

Taking steady growing curves

1 day - 21 January 2022 | People

Wetumwene Shikage Timothy Olivier’s passion and dedication has been a key driver in his success not only within Old Mutual, but throughout his...

US sanctions strangling Zim economy...

1 day - 21 January 2022 | Economics

FANUEL JONGWECallisto Jokonya stands in the cavernous factory of Imperial Refrigeration and recalls the halcyon days. In the 1990s, his factory, located in the Zimbabwean...

UK inflation pushes cost of...

1 day - 21 January 2022 | Economics

ROLAND JACKSONThe annual rate of inflation in Britain rose to a near 30-year high in December, official data showed Wednesday, stoking fears about a cost-of-living...

Malpass urges Microsoft to help...

1 day - 21 January 2022 | Economics

After Microsoft announced it would spend tens of billions of dollars to buy a video game company, World Bank President David Malpass on Wednesday drew...

I’m not politicking with housing...

1 day - 21 January 2022 | Politics

NAMPA WINDHOEKThe housing crisis in Namibia is beyond politics and could lead to a civil war if not addressed in an...

Load More