Having lost Angola and other players in recent years, the OPEC+ oil producers’ group is considering Namibia for membership, an African industry official told Reuters.

Production in Namibia could begin in 2030, and the country could be Africa’s fourth-largest producer of oil, with French company TotalEnergies making discoveries estimated at 2.6 billion barrels in recent years.

Initially, OPEC+ will have to ensure Namibia joins its Charter of Cooperation, a grouping that engages in longer-term dialogue on possible membership and energy markets. Brazil joined the charter in January.

NJ Ayuk, executive chairman of the African Energy Chamber, told Reuters that OPEC would like to see Namibia become a full member, adding that the organisation had begun its “charm offensive”, although the outcome of the talks is unclear at this stage. In February, OPEC secretary-general Haitham Al Ghais was quoted saying that OPEC was holding talks with several nations on joining the charter, without naming them.

Last year, Namibian petroleum commissioner Maggy Shino referred to the OPEC “family”, indicating a desire to join the bloc, but in March, Minister of Mines and Energy Tom Alweendo said that membership was not on the cards.

“We haven't been approached by anyone to join OPEC. OPEC members are petroleum-exporting countries and we are not there yet. That is a consideration only after we have started to produce,” he said.

Nevertheless, talks between OPEC and the Namibian Government are likely to continue in late April, when Al Ghais is scheduled to deliver an address to a Namibian energy conference.

Companies exploring the oil reserves in Namibia include Chevron, Eco Atlantic Oil & Gas, Galp Energia, Rhino Resources, Shell and TotalEnergies.

Pranav Joshi, analyst at Rystad Energy, told Reuters that Namibia could produce 700,000 barrels per day at peak production, based on existing discoveries.