Image: thenerveafrica.com

The direct total foreign investment expected in Equatorial Guinea for 2019 is over USD $2.4 billion, with 11 new wells expected to be drilled during the year.

In addition, five platforms have been contracted to carry out drilling operations in the country, according to the technical meetings and evaluations of the work programs and budgets of the country’s operating companies conducted by the Ministry of Mines and Hydrocarbons of Equatorial Guinea.

The ramp up in drilling activity in Equatorial Guinea comes after several years of a downturn following the crash of oil prices in 2014, and during the country’s Year of Energy.

The Year of Energy is led by the Ministry of Mines and Hydrocarbons, and will include the African Petroleum Producers’ Organization Cape VII, April 1-5, 2019 in Malabo and The Gas Exporting Countries Forum 5th Gas Summit, also to be held in Malabo in November.

The government of Equatorial Guinea has designated Africa Oil & Power, the premier energy and investment platform on the continent, as the official organizer of the event programs for the Year of Energy, together with a special organizing committee designated by the Ministry of Mines and Hydrocarbons.

The African Energy Chamber congratulates Angola on becoming the sixth African country to join the Gas Exporting Countries Forum (GECF), after Nigeria and Equatorial Guinea

Johannesburg – November 15th, 2018 – The GECF has been at the forefront of promoting the use of natural gas as an affordable and sustainable fuel of choice for sustainable development. African countries rallying around the drive of Equatorial Guinea’s Mines and Hydrocarbon Minister, Gabriel Mbaga Obiang Lima’s drive to monetize gas and engage with OPEC and GECF is a step in the right direction.

“Angola has vast untapped gas reserves that have not yet been monetized.” said AEC Executive Chairman NJ Ayuk. “Joining the GECF is a step in the right direction and in line with H.E. President João Lourenço blueprint for transformation, growth and boosting economic diversification by the monetization gas.”

Angola’s focus on gas is being backed by new legislation promoting the monetization of the country’s gas reserves. In May 2018, Angola passed Presidential Decree No. 7/18 (PD 7/18), indicating President Lourenço strong commitment to reform the country’s hydrocarbons sector and provide a boost to the gas industry. Presidential Decree No. 7/18 is the first law aimed at specifically regulating the prospection, research, evaluation, development, production and sale of natural gas in Angola.

“The Chamber welcomes the reforms in Angola and its commitment towards diversification and a market driven local content. This requires that government provides the necessary infrastructure and incentives that will enhance the productivity of labor and capital in the economy.” Ayuk continued. “The private sector has a role to play and there must be a change in its mindset, from commerce to industry”

The Chamber (EnergyChamber.org) welcomes these developments and salutes Angola on its efforts towards reforming its gas industry and deepening its engagement with international gas markets through Gas Exporting Countries Forum.

The Chamber and its members look forward to joining Angola’s leadership at the Angola Oil & Gas 2019 Conference & Exhibition to be held June 3-7, 2019 in Luanda under the patronage of H.E. President João Lourenço.

Image: oilandgaspeople.com

Record membership and fundraising for the African Energy Chamber in 2018

Johannesburg – September 24th, 2018 – As the leading and most influential advocacy group for the majority of the companies and workers in the continent’s oil and gas sector, the African Energy Chamber (AEC) has announced that the African oil industry continues to be strong and is rebounding well.

The rebound in global commodity prices has translated in renewed optimism and investment across the continent’s energy value chain, leading to improved policy dialogue and increased international investments across Africa’s energy markets.

The AEC has capitalized on the market’s dynamism to multiply networking activities, advocate for reformed policy frameworks and further encourage investment in the continent’s energy industry.

Having become the most successful energy industry’s advocacy and trade association for Africa, the Chamber notably partnered for the first time with Africa Oil & Power, whose 3rd conference and exhibition was held in Cape Town on September 5-7 2018.

The event attracted over 500 delegates and investors from North America, Europe, Asia, the Middle East and Africa, and saw the participation of leading figures such as OPEC Secretary General Mohammed Barkindo, Minister of Energy in South Africa Jeff Radebe, Minister of Hydrocarbons in Congo Jean-Marc Thystère-Tchicaya, Minister of Mines and Hydrocarbons in Equatorial Guinea Gabriel Mbaga Obiang Lima, Minister of Petroleum in South Sudan Ezekiel Lol Gatkuoth, Minister of Petroleum and Mineral Resources in Somalia Abdirashid Mohamed Ahmed, and former Zambian President Rupiah Banda.

As a relentless advocate of a strong African content, the Chamber has multiplied endeavors towards the development of local content policies and regulations in the continent, especially across its emerging frontiers. To assist Senegal in the development of a business-friendly and robust regulatory framework, the Chamber hosted a local content forum in Dakar on September 13th, during which Senegalese Prime Minister Mahammed Dionne reiterated Senegal’s commitment to both welcome foreign investors and implement a 50% quota of Senegalese content by 2030.

In encouraging investment and improving networking for the sector, the Chamber has also worked on resolving disputes with government and positioned itself as a leading mediator for Africa’s energy stakeholders. It has also multiplied international partnerships, the latest one being with the Houston-based International Association of Geophysical Contractors (IAGC) in order to further promote exploration across Africa’s sedimentary basins.

“The last two months have been record-breaking for the African oil and gas sector and the Energy Chamber,” declared the chamber’s executive chairman NJ Ayuk. “We saw a tremendous uptick in membership registration over the past two months alone from NOCs, IOCs and service companies and raised more than $500,000 over that period. I am personally happy that the majority of our historic fundraising and support comes from African companies. This ensures that we are going to have the resources to share their unique stories and push for more value for them to compete around Africa for deals that they have been traditionally excluded from.”

The African Energy Chamber now intends to focus on the international exposure of Africa’s oil sector by taking its community and network across geographies, notably Russia and China. At the invitation of Alexander Novak, Russian Minister of Energy, and Anton Kobyakov, Advisor to President Vladimir Putin, the African Energy Chamber will be leading a strong delegation of African government and private sector officials to the Russian Energy Week next month to discuss Russian investment in Africa. Another such dialogue is being planned in Beijing in the first half of 2019 so that the chamber’s members benefit from an open discussion with Chinese investors and stakeholders.

 

Dakar, September 14, 2018 – Senegal is determined to become the new frontrunner of Africa’s local content development. This is the conclusion of a local content forum held in Dakar on Thursday, organized by Les Conférences du Quotidien and hosted by the African Energy Chamber and Centurion.

Presided by Prime Minister Mahammed Boun Abdallah Dionne, the forum highlighted the potential for Senegal to redefine African standards for domestic capacity building and governance in the continent’s hydrocarbons sector. “Local content is a necessity,” declared the Senegalese Prime Minister during the event. “Encouraging the development of local SMEs throughout the value chain is of prime importance, as is the formation and training of Senegalese to boost national capacity and employability.”

The history of Senegal’s hydrocarbons sector is that of a toddler stepping into a giant’s shoe. The discovered gas reserves in the Turtle field alone are such that they could propel Senegal into a major LNG hub for Africa and the rest of the world. But for a country which has so far produced only limited gas quantity from onshore fields, taking such a big leap is not without its fears and challenges.

As Senegal expands its oil and gas exploration and development efforts, putting in place the right regulatory and governance frameworks will ensure the sustainability and social responsibility of its nascent hydrocarbons industry. The time to forge these is now, and a local content development framework must be the priority.

The development of robust and transparent regulations, which put local capacity building at the heart of policy-making, would provide Senegal with a very efficient framework to attract investments and boost local socio-economic development. “By being the latest entrant into Africa’s hydrocarbons history, Senegal has the opportunity to learn from the successes and failures of its neighbors,” explained NJ Ayuk, executive chairman of the African Energy Chamber and CEO of Centurion. “Local content is not corporate social responsibility. While the government must create an enabling environment, it is up to Senegalese people and companies to seize the opportunities offered by the country’s nascent oil & gas industry.”


As it embarks on this journey, Senegal has assets and qualities to build on. It has lessons to draw from its neighbors and African peers, and very strong institutions that can increase the chances of avoiding inefficiencies and corruption witnessed in other African jurisdictions. It is also a very stable country, whose economy has posted robust growth rates for years, and currently led by a President who understands the industry and is a former head of the country’s national oil company.

If its economy remains diversified and its oil wealth is used to further develop social infrastructure and support other growing industries, Senegal stands a great chance to be one of Africa’s best oil and gas economies.

 

 

Johannesburg– The African Energy Chamber (AEC) and the Houston-based International Association of Geophysical Contractors (IAGC) have signed a Memorandum of Understanding (MoU) aimed at supporting Africa’s exploration efforts and raising awareness on global HSSE standards across Africa.

As Africa tries to boost onshore and offshore exploration across its sedimentary basins and new frontiers open up for exploration and production, the MoU will be facilitating access for Africa to the latest geophysical technologies and best industry practices. “The IAGC is very proud to partner with AEC to optimize the business and regulatory climate in Africa,” said IAGC President Nikki Martin. “We look forward to working with AEC on key issues such as achieving step-change improvement in HSSE performance in African hydrocarbons exploration and development,” she added.

“Our association with the IAGC is of strategic importance to us,” said AEC Executive Chairman NJ Ayuk. “As we advocate for better regulatory frameworks and promote investments into Africa’s sedimentary basins, our engagement with the IAGC members is set to strengthen the dialogue between international explorers and African regulators, and enhance technology transfers with local African companies.”

Both organizations will be promoting the sharing of information on Africa’s exploration landscape and regulatory frameworks, and seeking co-operation and co-development between their members.

To facilitate such a dialogue, members of both institutions will be given access to the Africa Oil & Power Summit in Cape Town on September 5-7, 2018, and to the IAGC’s Annual Conference in Houston in February 2019.

About the African Energy Chamber: the African Energy Chamber is a pan-African chamber of commerce and industry which seeks to promote investments, local content development and international partnerships across Africa’s energy industries, along with advocating for transparency, accountability and the adoption of best international business practices across the continent.

About the International Association of Geophysical Contractors: the International Association of Geophysical Contractors is the global trade association representing all segments of the geophysical and exploration industry, engaging governments and stakeholders worldwide on issues central to geophysical operations and exploration access.

Contacts:

AEC
Mickael Vogel, Director of Strategy,
mickael@energychamber.org

IAGC
Gail Adams, Vice President, Communications & External Affairs, gail.adams@iagc.org
 

 

Image: Quantum Productions

Johannesburg – The African Energy Chamber is organizing a forum on local content development in Senegal on September 13th, 2018, in Dakar’s Radisson Blu Hotel. Organized in partnership with Les Conférences du Quotidien, the forum will be presided by Prime Minister Mahammed Dionne and will gather the key stakeholders of Senegal’s hydrocarbons value chain, including the heads of COS-Petrogaz and Petrosen.

Under the guidance of pan-African energy legal and advisory firm Centurion, the forum will be formulating recommendations on the best strategies to regulate and support the development of a strong Senegalese content.

“As Senegal gets closer to its first flow of oil and gas by 2021, it is important to look at local content experiences in Africa and internationally and draw the necessary lessons for Senegal to be the new frontrunner of African content,” said NJ Ayuk, CEO of Centurion and current Executive Chairman of the African Energy Chamber.

Hydrocarbons discoveries in Senegal are giving the west African nation an opportunity to position itself as a competitive oil & gas frontier on the continent and set new standards for hydrocarbons governance in Africa and globally.
Given the country’s limited experience in hydrocarbons however, the development of Senegal’s oil and gas value chain will need to rely on foreign capital and technology. Making sure that such inflow translates into local job and growth opportunities becomes then a major issue to ensure the sustainability of the industry and the social responsibility of its projects.

The development of robust and transparent regulations, which put local capacity building at the heart of policy-making, would provide Senegal with a very efficient framework to prevent external negativities associated with the exploitation of fossil fuels and the threat of the oil curse.

Having spearheaded the development of a strong African content across most of Africa’s hydrocarbons market, the African Energy Chamber looks forward to supporting and guiding Senegal while it implements the necessary frameworks for the development of its own local content.
 

 

Africa Oil & Power, the continent’s premier platform for energy investment and policy, and the African Energy Chamber (AEC)  have signed a strategic partnership in Johannesburg on Monday. Both organizations will be sharing capacities to facilitate investments and deal-making in Africa across their networks.

Under the agreement, the AEC will also become an official partner of the Africa Oil & Power 2018 conference taking place September 5-7, 2018 in Cape Town. As part of the partnership, the Africa Energy Chamber is extending to all its members and partners across its network an exclusive discount of 15% to attend the summit in Cape Town from September 5-7, 2018.

“As the AEC, we always encourage all our members to seek new partners and investors and expand their horizons to support their growth across the continent. We believe Africa Oil & Power is a perfect platform for them to do that,” explained NJ Ayuk, the chamber’s chairman.

As a prestigious international forum to take place in Cape Town this fall, Africa Oil & Power is an ideal place to strike business deals and meet investors. For its third edition, Africa Oil & Power has put together a prestigious program with 15 African petroleum and power ministers confirmed to date, 600 C-level delegates and 75+ speakers from across the continent, Europe, Asia and the Americas spanning the entire value chain, from upstream to power generation.

As Africa’s energy sector enters a new phase of growth and oil prices stabilize around $70, AOP and the AEC have expressed their excitement over this new collaboration which capitalizes on renewed optimism across Africa’s investment community.

Guillaume Doane, the CEO of Africa Oil & Power, said: “The vision of Africa Oil & Power and the Africa Energy Chamber are one and the same –– to combine a pro-African attitude with a pan-African influence. We are excited to have access to their extensive African energy network.”

About the African Energy Chamber

Headquartered in Johannesburg, the African Energy Chamber (AEC) is a progressive business network that promotes business and investment opportunities within the continent by connecting local corporations, foreign investors and ministerial parties. The AEC unites African interests and aspirations under one voice that advocates for Africa’s companies and citizens and gives the continent a conscience on the global energy stage. From local content development to universal electricity access, the AEC’s engagement aims at placing Africa at the forefront of global energy investment and transformations.

Visit the Africa Energy Chamber at www.energychamber.org
Follow us on Twitter: www.twitter.com/energy_african
Follow us on Linkedin: www.linkedin.com/company/african-energy-chamber/

MEDIA CONTACT
Mickael Vogel
mickael@energychamber.org
+27 78 558 7045

 

The AEC welcomes OPEC’s agreement and recognizes the strong participation of Africans states in the OPEC’s 7th International Seminar and the 4th OPEC and non-OPEC Ministerial Meeting

Vienna – June 23rd, 2018: The AEC welcomes the agreement of the Organization of Oil Exporting Countries (OPEC) by which its members, and the members of the Declaration of Cooperation (DOC), will strive to adhere to the overall production adjustment conformity level agreed upon in November 2016, targeting a conformity level of 100% as of July 1st, 2018. As of May 2018, conformity levels were at 152% for OPEC member countries and 147% for the members of the DOC.

The AEC acknowledges the role played by OPEC in bringing back stability to global commodity prices and rebalancing the market, and recognizes that such efforts and engagement by OPEC have been central to improving market conditions and investment sentiment across Africa’s hydrocarbons value chain.

Finally, the AEC also recognizes the strong participation of African states in OPEC’s 7th International Seminar and the 4th OPEC and non-OPEC Ministerial Meeting, which saw the attendance of ministerial delegations and representatives from Nigeria, Algeria, Egypt, Angola, Gabon, Equatorial Guinea, South Africa, Republic of Congo, Uganda, Sudan and Chad.

 

VIENNA – The African Energy Chamber (AEC) would like to congratulate the Republic of Congo on becoming Africa’s 7th country to join the Organisation of Petroleum Exporting Countries (OPEC).

Congo is one of Africa’s mature oil producers, with production first coming online in the 1960s and reserves totaling about three billion barrels. It is also one of very few countries in Africa bucking a trend of declining oil production, with oil output increasing by 25% to reach 350,000 barrels of oil per day in 2018. This makes Congo the third biggest oil producer in sub-Saharan Africa after Nigeria and Angola. New developments in progress are expected to further boost production to 400,000 bopd by 2020.

In addition to oil, Congo also offers tremendous gas valorization and monetization opportunities in areas such as gas-to-power, urea, gas-to-liquids and methanol, with 300 to 400 billion standard cubic meters of gas reserves for the coming 20 years.

The AEC hopes that Congo’s entry into OPEC will allow the central African nation to develop stronger bilateral relations with other hydrocarbons producing nations, and facilitate the flow of investments into Congo as the country implements its new Hydrocarbons Code and is preparing a Gas Code to structure its gas value chain.