Namibia Sees Final Investment Decision on Oil Find by End 2024.

PETROLEUM; SOVEREIGN wealth funds

Namibia is planning to invest a significant portion of potential revenue from a major oil discovery into a sovereign wealth fund. The country expects to determine the commercial viability of the find later this year and reach a final investment decision by the end of the year. The discovery, made by TotalEnergies SE and Shell Plc, is estimated to contain 11 billion barrels of crude oil and has the potential to greatly impact Namibia's economy. The government is drafting legislation to govern the allocation and investment of oil revenue in the sovereign wealth fund, with the aim of ensuring the windfall benefits future generations. [Extracted from the article]

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