The news of a Canadian company, ReconAfrica securing a right to explore an oil reserve in Namibia has been met with criticism by teeming African youth. Experts revealed that the demarcated area is believed to hold one of the largest onshore oil in the world.
According to details of the deal, ReconAfrica has leased more than 13,000 square miles, or some 30,000 square kilometers of land area in Namibia and neighboring Botswana for the exploration project.
The reserve is expected to produce about 12 billion barrels of foil; Craig Steinke, co-founder of ReconAfrica stated that, “we know we have discovered a new sedimentary basin. It’s up to 35,000 feet deep and it’s a large and very expansive basin.” he added that, “every basin of this depth in the world produces commercial hydrocarbons. It just makes sense.”
To the company, it is a huge financial breakthrough worth millions of dollars; however, African youth have been leaving bad responses since the news was first reported by CNN. According to some of them, the exploration of oil and other resources in Africa has least benefited the continent.
Multinational companies that explore oil in African, especially countries like Namibia which has no refinery takes out almost every revenue they generate leaving the continent even worse than how they found it, due to pollution of water bodies and fertile lands by some of their negligent operations.
In this view, African political thinkers are asking one question: Oil exploration at what cost? And at whose expense? It is observed from the response generally that, their reaction is not only about ReconAfrica’s discovery. They were reacting to how the same issue affected the continent over the years.
Apart from these local concerns, experts equally warn of the tendency of the exploration triggering global warming in the area as it is already estimated that, the earmarked land area is already vulnerable to rising temperatures. Have you followed the news? What is your view on this?