Plans to explore oil and gas resources in an African country are helping to establish it as a global energy hub. US energy company Chevron announced this week that it is considering drilling a well in Namibia's Walvis Basin area in a bid to capitalise on the country's growing status as an energy hotspot. The programme, which won't begin until 2026 or 2027, will be just the latest in a series of discoveries in the desert region, with other industry titans including Shell and TotalEnergies planning to launch production of up to 2.6 billion barrels of oil from 2030.

Expeditions have uncovered other lucrative sites near Namibia's Orange Basin, which lies adjacent to Chevron's planned well in the Walvis Basin. "With this programme, Chevron continues to activate its strong and growing exploration portfolio," a company spokesperson told Reuters. The country has enticed major international firms away from traditional producers including Nigeria and Angola in recent years with its promise of offshore oil production - with a rush kicking off in 2022, when Shell made an "encouraging" discovery off its coast.

"Namibia's recent oil and gas discoveries mark a transformational shift in the country's economic landscape, energy security and global investment potential," according to IBN Immigration Solutions.

"These developments position Namibia as one of Africa's most promising new energy frontiers, with far-reaching implications for economic growth, job creation and long-term industry sustainability."

Investment from global players including Chevron and Shell could boost its status as "a key supplier to international energy markets" and attract further exploration and infrastructure development, the agency added.

Chevron signed a deal last year that handed it an 80% operating working interest in an offshore block in the Walvis Basin, Reuters reported, and already operates another offshore deepwater block in the Orange Basin.

It's no wonder that the African Energy Chamber has estimated that Namibia will experience sizeable growth in 2025, with officials focused on the impact new investments will have on the local economy.

"We are offering a sustainable operating environment, ensuring all discoveries are in a race to first oil while making a lasting impact on the local economy," Petroleum Commissioner Maggy Shino said, as per Offshore Energy.

"The scale is enormous," Ian Thom, Research Director for Sub-Saharan Africa Upstream at Wood Mackenzie, added. "There's 220,000-square kilometres of offshore license acrage. With just over 20 exploration and appraisal wells drilled, this area is still hugely underexplored."