Namibia: Another 10 Years Before Oil Generates Returns

The Venus oil and gas project is unlikely to generate revenue for the Namibian government before 2035.

The project’s environmental and social impact assessment presented to the government on 12 January estimates that significant government revenue can only be expected five years after the first oil is produced.

The Namibian government can collect revenue from the project through taxation, levies, and other payments.

“Total government revenue may total around N$127 billion to N$229 billion…