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Johannesburg – January 14, 2019: The African Energy Chamber welcomes the improvement of Equatorial Guinea’s business environment via the establishment of a one-stop shop for setting up businesses in the country.

“The implementation of Equatorial Guinea’s one-stop shop allows companies to set up a business in Equatorial Guinea in only one week, putting the country at par with global standards, said NJ Ayuk, the Chamber’s Executive Chairman. For the African Energy Chamber and the oil industry, it is important to encourage men and women who find opportunities, have ideas of innovative services and unavailable products, those who have the courage to deploy capital, accept risk, and make it happen.”

While Equatorial Guinea benefits from a reasonably good infrastructure, investors have traditionally been timid to set up shop in the country given its excessive bureaucracy and regulations sometimes seen as unfavorable to business.

The government does recognize it has an enormous task of fostering an environment where investors and small and medium enterprises can succeed. The government continuous move to implement sound and efficient business regulations will be critical for entrepreneurship and a thriving private sector.

President Obiang Nguema Mbasogo had been personally advocating for stronger reforms to the country’s business environment over the past few years, especially under the National Economic Development Plan: Horizon 2020.

The Chamber sends its heartfelt congratulations to Equatorial Guinea’s Ministry of Finance, Economy and Planning, on taking positive steps towards reforming its business environment as it enters into its Year of Energy, which will see a series of global roadshows and international summits being hosted by Malabo, and excepted to attract billions of investments into the country. In addition, the 3rd National Economic Conference is also set to be held this year in Equatorial Guinea.

Under the Year of Energy programme, Equatorial Guinea will be hosting the APPO Cape VII Congress & Exhibition between April 1-5, organised by Africa Oil & Power, and the Gas Exporting Countries Forum 5th Gas Summit in November, the first to be held on the African continent.

Johannesburg – December 11th, 2018: The African Energy Chamber proudly endorses the Nigeria International Petroleum Summit (NIPS), to be held in Abuja’s International Conference Centre on January 27-30, 2019.

Our members, which include the majority of the international oil companies (IOCs), services companies and many African players will be in Nigeria to participate in the summit. The attending investor groups among the chamber’s members represent billions of dollar worth of inbound investments to the Nigerian oil & gas sector.

Our members want to invest and NIPS is one of the best platforms to expand the intra-Africa energy cooperation, promote investments and generate new joint-venture and cooperation opportunities in Africa’s biggest oil producing market.

“Foreign investment into Nigeria’s oil & gas sector is a game changer for Nigerian and African businesses and the economy. We continue to be excited by this opportunity because many investors will gain a better understanding of today’s most critical issues, challenges and opportunities facing the Nigerian oil & gas sector at this industry-driven conference. While there is a focus on oil, Nigeria is more of a gas economy and stands to do more with gas” declared Executive Chairman of the Chamber NJ Ayuk. “Nigeria has come out of its recession stronger and with a continuous push towards reforming its business environment and remains Africa’s biggest hydrocarbons market. Its ongoing reforms have strengthened its position as Africa’s prime oil & gas investment destination, and the NIPS will be the perfect platform to advance the country and its investors’ business agenda,” he added.

“The NIPS 2019 is designed to be Africa’s largest and most important industry platform,” said Nigeria’s Minister of State for Petroleum Resources Dr. Emmanuel Ibe Kachikwu in a message addressed to all participants. “It will provide linkage to the world for engineering and technological breakthroughs, major contract sign offs and side events.”

With an upcoming gas flare commercialization bid round, the Chamber notably invites stakeholders within the gas value chain to actively participate in the summit and seek opportunities within Nigeria’s untapped gas value chain. From exploration & production to gas infrastructure, commercialization and distribution, Nigeria is the next gas frontier in Africa and offers tremendous potential for investment.

Further details on the event can be obtained from the event’s website, www.nigeriapetroleumsummit.com or by contact the event organizer Brevity Anderson at info@brevityanderson.com.

Johannesburg — The African Energy Chamber urges the Organization of the Petroleum Exporting Countries and other key global oil producers, including Russia, to continue with the historic production cuts at the December 6, 2018 OPEC meeting to stabilize the oil price.
Oil prices have dropped by about 20 percent in November, and the month is likely to record the biggest one-month decline in oil prices since the crash of 2014. This is not good for producers in Africa and African economies.
The Chamber urges African producing nations, both those that are OPEC members and Non-OPEC members to speak up with one voice in support of OPEC’s policy on stabilizing the market.
“This new drop in oil prices clearly shows the world that the global supply cut has not been eliminated. The future of the petroleum sector — and indeed the future of global energy security — depends on a continuation of the OPEC-led production cuts,” said NJ Ayuk, chairman of the African Energy Chamber.”
Oil producing nations, many of which are within Africa, are at particular risk of economic hardship if the supply glut continues and prices spiral. Such countries include Nigeria and Angola, two of Sub-Saharan Africa’s largest economies, as well as Equatorial Guinea, Cameroon, Congo, Gabon, South Sudan, Algeria, Libya and Ghana. Other key countries that are investing in upcoming mega projects, like Mozambique, Uganda and Senegal, could face project delays in the face of low oil prices.
The historic Declaration of Cooperation, moderated by OPEC’s Secretary General and Africa’s own son, H.E. Mohammed Sanusi Barkindo which was signed in 2016 by OPEC countries and 10 non-OPEC countries and saw several extensions, is set to expire at the end of 2018.
“The historic Declaration of Cooperation is largely credited with rescuing the oil industry from collapse, and returning economic security to oil-dependent nations, many of which are in Africa. Abandoning this extraordinary deal now would only see production increase and the supply glut worsen — effectively making any progress achieved in the last two years null and void,” stated Ayuk.
“When the oil market is in crisis, the path to dignity and prosperity is closed off to many African families. It leaves many Africans, particularly those without advanced degrees on their own to chart their own course where clear and attainable paths to a meaningful and prosperous life once existed.” Ayuk continued

The opinion of many Africans on OPEC and the energy sector has taken a measurable, positive jump as people acknowledge the strong connection between the oil and gas sector, the African economies and the African entrepreneurial dream.

The Africa Energy Chamber stands by OPEC and Consumers and we will continue work with our members to educate the public of the need for lasting stability in the oil industry.

It is our firm belief that the 2016 Declaration of Cooperation rescued the oil and gas industry and many African economies from imminent collapse. This should be continued next week in Vienna Austria.


Juba, November 22nd, 2018 – The African Energy Chamber is encouraged by the progress made in South Sudan’s oil sector after the peace agreement. The success of the South Sudan Oil & Power 2018 conference, which was attended by over 750 participants representing upstream, midstream and downstream sectors of the oil sector from Africa, Europe, North America and the Middle East is a step in the right direction.

We are also encouraged by the Ministerial delegations from many countries like Equatorial Guinea, Sudan, Somalia, Saudi Arabia, Nigeria, Russia, Uganda, etc. The success is an indication of South Sudan’s increased attractiveness for African and international investors, as the East African nation works to ensure a stable peace and has doubled efforts to ramp up production and drill more wells.

“The presence of several international oil companies in Juba this week is very encouraging and shows that South Sudan is doing its best to restore the trust of the international investment community and should be encouraged by all parties,” declared Executive Chairman NJ Ayuk form Juba.

The Chamber supported South Sudan’s efforts to build a lasting peace, which resulted in a new peace agreement signed last month between rival factions. “The local and international oil community has an obligation to support both peace talks and the South Sudanese leadership to promote peace and reconciliation. We also call on the government to continue its efforts in encouraging an enabling environment, promoting local content and prioritizing the role of women in the oil sector” said NJ Ayuk.

We commend H.E. President Salva Kiir for meeting with H.E. Azhari Abdel-Gadir Abdalla, Minister of Petroleum and Minerals of the Republic of Sudan; H.E. Gabriel Obiang Lima, Minister of Mines and Hydrocarbons of the Republic of Equatorial Guinea; Hon. Lokeris Peter, Minister of State for Energy and Minerals Development, Republic of Uganda; and H.E. Mahaman Gaya, Secretary General of the African Petroleum Producers’ Organization (APPO) to encourage collaboration on oil and gas matters.

H.E. President Kiir and the Minister of Petroleum of South Sudan, H.E. Ezekiel Lol Gatkuoth’s continuous efforts to work with other Africans, OPEC and Non-OPEC nations in balancing and stabilizing the oil market is very encouraging to our members as we all work to prevent another supply glut in the oil sector. The Chamber continues to support all efforts to do balance the oil markets including trimming supplies as it is good for African producers, its citizens and the investors.

South Sudan remains under-explored, despite being East Africa’s oldest and biggest oil producing nation. Although, production is being ramped up, South Sudan’s latest oil & gas entrant, Oranto Petroleum, started exploration on Block B3 a year ago.

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.