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OPEC thrilled about Namibia partnership, uses assistance

The Organization of the Petroleum Exporting Countries (OPEC) is thrilled about a. prospective partnership with Namibia and ready to support the. southern African country in its oil journey, OPEC Secretary. General Haitham Al Ghais stated on Wednesday.

The OPEC+ oil producers' group, having lost Angola and other. players over the last few years, is looking at Namibia for possible. membership as it aims to begin pumping oil by the next years. following a string of huge discoveries.

We are thrilled about the potential of the Namibian OPEC. collaboration and stand all set to use support at this important. point, Al Ghais said in a pre-recorded message at an. international energy conference in Namibia.

We are enthused by the discoveries in Namibia. Namibian oil. and energy will be essential to satisfying future demand.

TotalEnergies and Shell in the last few years. have made discoveries approximated at 2.6 billion barrels, setting. the stage for the southern African nation to plan production. from about 2030.

Sources told previously this month the initial focus. for OPEC+ - the broader grouping that consists of Russia - would be. to see Namibia join its Charter of Cooperation, a group that. participates in longer-term dialogue about energy markets and does. not choose output policy. OPEC did not comment at the time.

In addition to Overall and Shell, firms including Chevron. , Rhino Resources, Eco Atlantic Oil & & Gas and Galp. Energia are carrying out expedition and appraisal. activities.

We motivate prospective financiers to look at Namibia and the. abundance of possibilities here, OPEC's Al Ghais said.

Based upon the existing discoveries, Namibia is looking at. 700,000 barrels per day (bpd) of peak production capacity by the. next decade, according to energy consultancy Rystad Energy.

That is smaller than Angola's output of about 1.1 million. bpd, although Rystad kept in mind Namibia's number could rise with more. successful expedition. Angola gave up OPEC in December in 2015. in a dispute over output quotas.

(source: Reuters)