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Namibia shapes up for growth with drilling plans and licencing updates
Namibia’s offshore oil and gas industry is set for significant growth in 2025 driven by new licensing opportunities and an uptick in drilling activities, according to data from the African Energy Chamber, Wood Mackenzie and Namibia’s Ministry of Mines and Energy.
Global oil and gas contract value remains stable
The global oil and gas industry experienced a 15 percent quarter-on-quarter decrease in the total number of contracts, from 1,596 in Q3 2024 to 1,353 in Q4 2024, said industry analyst GlobalData. Despite the dip in volume, the overall contract value remained stable, driven by the announcement of some major contracts in Africa.