7.500
%
Neutral
38
mm boe
0
%
The majority of exploration activity has been focused offshore, which is currently facing a hiatus given the series of dry holes.
May 31, 2021
Africa - South
mm bbl
bcf
Southern Africa, bordering the South Atlantic Ocean, between Angola and South Africa.
Concession
Relatively simple Concession-based fiscal regime with new terms introduced for the most recent, third and fourth licensing rounds. Royalty and Petroleum Income Tax rates are fixed and payable. There is an additional profits tax payable on a sliding scale linked to contractors rate of return, which kicks in at anything over a threshold IRR (currently 15%).
Namibia welcomes foreign investment and provides a strong foundation of stable, democratic governance and good infrastructure on which to build businesses. The Namibian government prioritises attracting more domestic and foreign investment to stimulate economic growth, combat unemployment, and diversify the economy. The Ministry of Industrialization and Trade is the governmental authority primarily responsible for carrying out the provisions of the Foreign Investment Act of 1990. In August 2016, Namibia promulgated and gazetted the Namibia Investment Promotion Act (NIPA). Despite the FIA's calls for equal treatment of foreign investors and Namibian firms, the government is increasingly calling for foreign investors to partner with Namibian-owned companies and/or have a majority of local employees in order to operate in the country.
Source: ESRI, Heritage Index, HMG Foreign & Commonwealth Office, US Department of State, International Trade Administration, International Law Review, Ernst & Young, Wood Makenzie & OGA data.
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