Press

Energy is “the Economic Engine of the African Continent”


  • The fourth annual Africa Oil & Power (AOP) conference commenced in Cape Town, South Africa today.
  • Industry elites gathered to discuss the future of Africa's energy sector and engage in a dialogue that will see the sector empower greater economic growth.
  • Guillaume Doane, CEO of Africa Oil & Power, NJ Ayuk, Executive Chairman of the African Energy, H.E. Mouhamadou Makhtar Cissé, Senegal's Minister of Petroleum and Energy and H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea kick off the three-day program.
  • The AOP conference and exhibition continues until October 11 at the CTICC 1, in Cape Town, South Africa. Learn more at www.aop2019.com.

Cape Town, South Africa, October 9 — Congregating to discuss the future of Africa's energy industry, petroleum ministers from across the African continent landed at the CTICC today for the fourth annual Africa Oil & Power (AOP) conference and exhibition which continues until October 11, 2019.

Through its theme #MakeEnergyWork, the 2019 AOP conference has set out to be a catalyst for greater economic growth and development through facilitating key conversations on the substantial role the energy sector has in empowering other sectors and building thriving and competitive economies.

Kicking off the powerful three-day program, the day began with keynote addresses from Guillaume Doane, CEO of Africa Oil & Power; NJ Ayuk, Executive Chairman of the African Energy Chamber and H.E. Mouhamadou Makhtar Cissé, Senegal's Minister of Petroleum; Energy and H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea.

“The energy industry is the economic engine of the African continent. We must and we can do more to attract more investment,” said Guillaume Doane, who also challenged industry decision-makers with important questions that are necessary in Africa achieving prosperity.

“Investors, are you ready to make Africa a bigger priority of your spending agenda? African governments, are you prepared to do what it takes to create a better environment for investors to come in. The time is now for Africa to be the leading destination for global energy investment. We must and we can do more,” he said.

H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea also delivered a keynote address in which he noted the role the oil and gas sector plays in Africa's development and, championed the energy sector as critical in Africa's growth. Putting it clearly, he said: “Oil and gas is good for Africa. I will repeat it again, oil and gas is good for Africa.” Adding that, “The future of resources in Africa is going to be gas.”

Representing H.E. Macky Sall, President of the Republic of Senegal, Minister Cissé spoke of the West African nations' hydrocarbon potential and outline the government's plans in leveraging this potential to see through greater economic growth: “Senegal's presidential vision in the oil and gas space is driven by one key, goal: local content,” he said.

“Local content is not only an outstanding component of social inclusion and job creation, it also makes sense from an economic standpoint.”

On the importance of new investment relationships and especially, intra-Africa cooperation in making energy work for greater economic growth, NJ Ayuk encouraged delegates to engage in the dynamic presentations and gain first-hand knowledge of a wealth of investment opportunities in countries like Senegal, Equatorial Guinea, South Sudan and South Africa.

“We need to see African nations engage each other more, as the intra-African energy dialogue has remained too low given the natural resources potential of our continent,” he said.

The keynote addresses were followed by the minister's panel which featured H.E. Mouhamadou Makhtar Cissé, Minister of Petroleum and Energy of Senegal; Hon. Fafa Sanyang, Minister of Energy and Petroleum, Gambia; H.E. Abdirashid Mohamed Ahmed, Minister of Petroleum and Mineral Resources, Somalia and H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons of Equatorial.

In the ministers' panel, Challenging the Status Quo – Making Energy Work for Africa, moderated by CNN's Africa Editor Eleni Giokos, Minister Obiang Lima expressed his optimism that investors would return to Africa citing Africa's hydrocarbon potential as a massive draw card for global investors. With this however, he noted the lack of necessary infrastructure in Africa's energy sector as one of the major factors that have held back progress particularly in the LNG industry.

With the country concluding its licensing round, Minister Obiang Lima, also shared that the results of the EG Ronda would be available on 1 November 2019. And said while his ministry focused on “drill or drop” in 2019, 2020 would be anchored by “invest or drop”

During his AOP Talk, Guillaume Doane addressed key challenges and opportunities in Africa's oil, gas and power sectors. He reminded the room that, “Africa continues to be amongst the top regions for making large oil and gas discoveries. In 2016, five of the 10 largest oil discoveries were in Africa. Whether it's Mozambique, Angola, Senegal, or the Republic of Congo when companies drill, they tend to find oil more frequently than the world average.”

On the power sector, he provided that, “Solving South Africa's and the rest of the continent's power problem will require more market liberalization, more privatization, more public-private partnerships. Making that possible will demand that we change our mindset just as much as we change our policies.”

The AOP conference continues until October 11, program highlights include the launch of the Africa Energy Series investment reports on Angola, Senegal, South Africa

Learn more and get conference updates at www.aop2019.com.



New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.

Visit source site

https://africaoilandpower.com/2019/10/09/energy-is...

Equatorial GuineaSenegalSomaliaGambiaSouth SudanAngolaMakeEnergyWorkAfricanEnergyChamberAfrica Oil & Power

More items from aydanur


CNN’s Eleni Giokos to moderate discussion on German-African business relations with Chancellor Merkel’s Africa Envoy

Find the German version  here The discussion will be centred on the topic: Investment and Trade for Africa's Economic Development. Co-moderated by the Germany Africa Business Forum and spearheaded by H.E Günter Nooke, Africa Envoy to  Chancellor Merkel,  the discussion also includes NJ Ayu ...

Aydanur Akkurt - Africa Oil & Power


Posted 6 days agoPress > AfricaAfrica EnergyAOP +19

African Energy Chamber to Outline Post-COVID-19 African Energy Roadmap in New Book

The African Energy Chamber will launch the book “African Energy Road to Recovery:  How the African energy industry can reshape itself for a post-COVID comeback” in December. The book will contain data, insight, analysis and interviews, and will assess risks, opportunities and what is ahead ...

Aydanur Akkurt - Africa Oil & Power


Posted 10 days agoPress > African Energy ChamberAfricaAfrican Energy +30

Angola: Supporting Cross-Border Cooperation

*This article will be published in the upcoming AES: Angola COVID-19 Impact ReportAs a response to the reduction in oil demand amid global lockdowns, the Organization of Petroleum Exporting Countries (OPEC) and the G20 met in March, seeking to reduce the global supply of petroleum among top produc ...

Aydanur Akkurt - Africa Oil & Power


Posted 11 days agoLink > AngolaLuandaAngola Oil & Gas +27

Nigeria: Africa’s Leading Producer

Producing 2.1 million barrels per day (bpd), Nigeria serves as Africa's largest oil and gas producer, although production is currently limited to 1.4 million bpd by OPEC-led quotas. In a bid to develop untapped resources and monetize existing resources, 2020 has seen the launch of a marginal fiel ...

Aydanur Akkurt - Africa Oil & Power


Posted 11 days agoLink > NigeriaNigeria Oil Gas & Power 2021NOGP2021 +29

Webinar: EXPLORATION FRONTIERS: OPPORTUNITIES FOR AMERICAN E&P AND SERVICE COMPANIES IN AFRICA’S UPSTREAM

Africa remains one of the last exploration frontiers, accounting for many of the world's most prolific oil and gas discoveries of the last decade. Opportunities in exploration abound, from traditional onshore exploration in South Sudan to shale plays in South Africa and deep offshore acreage in Ang ...

Aydanur Akkurt - Africa Oil & Power


    US 12 Nov 2020


Posted 12 days agoEvent > AOPAOP Webinarwebinar +25
All posts from aydanur