Home » Namibia, Senegal join African Petroleum Producers’ Organization
Africa Business Economy Featured News Oil and Gas

Namibia, Senegal join African Petroleum Producers’ Organization

WINDHOEK, Nov. 8 (Xinhua) — Oil-rich Namibia and Senegal have become the latest members to join the African Petroleum Producers’ Organization (APPO), an official said on Monday.

Andreas Simon, Namibia’s Ministry of Mines and Energy spokesperson, told Xinhua that Namibia had joined the African Petroleum Producers Organization (APPO) at a Council of Ministers Ordinary Session held in Luanda, Angola, on Nov. 4.

The meeting also admitted Senegal, while Venezuela joined as an observer member.

The 18-member organization was formed 15 years ago in Lagos, Nigeria. It is a platform for cooperation and harmonization of efforts, collaboration, and sharing of knowledge and expertise among oil-producing African states.

This photo taken on Sept. 29, 2022, shows a gas station of TotalEnergies in Nakuru County, Kenya. (Photo by Sheikh Maina/Xinhua)

Oil majors, Total Energies and Shell, together with joint venture partners QatarEnergy and Impact Oil and Gas, announced significant oil discoveries off the Namibian coast earlier this year, estimated by the Ministry of Mines and Energy to be likely in billions of barrels.

QatarEnergy, which holds a 30 percent stake in the Venus X1 well and a 45 percent stake in the Graff-1 well, said in October that it wanted to speed up the development of the two oil wells.

Namibia recently announced that it would consider joining the Organization of Petroleum Exporting Countries if the oil fields are found to be large enough for commercial development.

Source : English News