Namibia’s 11 Billion Barrel Oil Reserves Could Last the Country About 1,235 Years
With an estimated 11 billion barrels of oil reserves, Namibia could theoretically supply its entire domestic demand for around 1,235 years at current consumption levels.
The country currently consumes roughly 24,000 barrels of oil per day, which equals about 8.9 million barrels per year. At that rate, Namibia’s offshore discoveries…mainly in the Orange Basin…could sustain the nation’s internal energy needs for more than a millennium.
However, once production begins, most of the oil will likely be exported to global markets.
The strategic discovery is already drawing intense international attention. Washington maintains one of its largest diplomatic missions in Africa in Windhoek, and United States currently has one of the only fully appointed ambassadors in Sub-Saharan Africa stationed in Namibia…a sign that global powers are watching the country’s emerging energy wealth closely.