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
 

 

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.