Stability Is Key For Supermajor Investment In Africa

Although it may appear that much of the exploration activity in Africa is driven by smaller independents, the supermajors still have a significant role to play. In recognition of the importance of the market these supermajors were all well represented by senior executives at this year’s Africa Oil Week.

The key message they delivered was that they were ready to invest further in the region but were looking for investment opportunities that could offer them assurance in terms of fiscal and political stability.

Searching for stable fiscal regimes

When it comes to success in Africa, Pam Darwin, vice president Africa Exxon Mobil admits that there is no silver bullet, but one thing that is crucial going forwards is access to capital. “Our industry must continue to strive to meet energy demand for reducing environmental impact,” she said. “To do that we face competition for capital. All our efforts take capital and the competition is greater than ever.”

The key she explains is stable and attractive fiscal regimes; where these are present investments are occurring. “There's a clear message from the United States where investment in the shale industry or the shale revolution as they call it has increased dramatically since 2005,” she adds.

“As a consequence, US liquid production has more than doubled over ten years, generating billions of dollars. In contrast, over the last ten years, African liquid production has steadily decreased. In order to tap Africa's immense reserves, commercial terms must be in place to draw those investments.

“Investment also needs to focus on making communities strong, this is really important for us as a company. We fund programmes and training, education, and women's empowerment along with health issues such as malaria. We've invested nearly $4 billion since 2000 in these kinds of programmes, over a billion just in education, and 120 million in women's economic empowerment.”

BP growing on a rich heritage

According to Jasper Peijs, exploration vice president Africa, BP, Africa has been very important to BP and perhaps BP is important to Africa as well. He explains that BP’s current activity and presence is right across the continent of Africa. “We have a strong multi decade positions in Angola, Egypt and Algeria, where we are currently producing 400,000 barrels a day.”

When it comes to a positive environment for investment, Peijs points to Angola as a case in point. “I'm happy to recognise the positive changes the Angolan Government has made,” he says. “They are now incentivising investment again and we as BP have taken notice.

We've extended the licencing for block 15 and 18 and created a joint venture to develop gas fields. But Angola is not alone, you see lots of positive changes across the continent and that is why our investment in Africa is growing. Since 2016, we have delivered seven major projects and eight scheduled to come online by the end of the year.

These are in Algeria, Angola, and Egypt, and the next tranche of major projects have already been sanctioned with the final investment decisions expected soon, one of which is Greater Tortue Ahmeyim in Mauritania and Senegal.”

So why is BP focusing so strongly in Africa? “First, is that Africa provides opportunity for growth,” Peijs adds. “Demand for energy in Africa is well ahead of the world average, populations are growing, economies are advancing, the production of energy is growing even more strongly. Looking ahead the forecast for energy production in Africa is likely to grow by around 60% by 2040, almost twice the global rate.

“The second reason companies invest in Africa is that it provides opportunities for competitive partnerships. Since the oil price crash in 2014, our industry has become much more efficient, much more disciplined, more selective on invested capital. We are all competing on a global scale but in Africa we have found several countries providing conditions for investments.

“And then thirdly, is that Africa provides opportunities for long term; as well as having a growing energy consumption and production, economic development is driving up levels of skills and capabilities across the continents. These are human resources coming together. So, the great untapped potential of Africa in every sense.”

Building on success in Angola

One man new to the challenges of the continent is Mike Sangster, MD Total E&P Nigeria, who has recently taken over the leadership of Total exploration and production in Nigeria. “There are four main technologies that we need to be strong in to succeed – deepwater, LNG, petrochemicals, and lubricants.

Here in Africa, we are very much present with three of those four technologies with deepwater and energy as well as retailer and lubricants on the downstream side. We are the leading integrated major in Africa, we are present in 43 countries across the continent, all the way across the value chain from the upstream, the midstream and downstream

“Almost 20% of our production last year came from it came from Africa, and 16% of our reserves are still in Africa. We are currently investing more than one third of our exploration budget in Africa. We operate 11 FPSOs across the continent. The downstream also is going to come in Africa. We have almost four and a half thousand service stations across all the different countries, and about 18% of market share.”

One of the recent projects that Total sanctioned was the Kaombo Project in Angola, which features two FPSOs each with a capacity of 115,000 barrels a day, one of which started producing in the middle of last year, and the second one began earlier this year. “We are producing close to capacity of 230,000 barrels a day, so it is a major achievement for the company in the country.

“In Angola there are a new wave of developments coming along as well, supported by attractive fiscal terms. In Angola recently we have seen some good initiatives from the government for the industry. And you can see that industry is responding by investing in low-cost, short-cycle projects such as subsea tie backs to existing facilities, and infill drilling.”

Unlocking Africa’s potential

So, what does it take to unlock Africans countries’ economic potential? Colette Hirstius, vice president exploration Middle East & Africa, Shell explains that the industry faces unique challenges and opportunities. “These are often driven by geology, the maturity of the industries and in the case of customer facing businesses, the size and structure of the market,” she explains. “Some of these challenges include the lack of infrastructure, security issues, unstable fiscal and regulatory environments and limited access to energy.”

The answer to this is a long-term vision for each country, and long-term partnerships between the industry and government built on trust and commitment.

“These will be critical elements for success,” she adds. “Shell believes strongly in partnerships and that everyone has their role to play, the role of government is all about creating an enabling environment that encourages the industry to invest. This includes developing and communicating a clear energy strategy.

As well as creating strong, effective, and predictable, regulatory and fiscal regimes along with respecting the sanctity of governance and contracts and providing a secure operating environment. And lastly, embedding transparent and clean business practices. For industry to deliver its part by conducting activities in a sustainable manner, which means being safe and environmentally and socially responsible.

“Companies should build local capabilities and capacity, develop local value chains to maximise competitive opportunities for local economies and, of course, promote innovation and technology. Shell strongly believes that building local capacity and capability is key for helping Africa to achieve its full potential. And it's one of our clear focus areas.”

Oil & Gas: South Sudan, Egypt Sign Landmark Cooperation Agreement

South Sudan and Egypt signed a Memorandum of Understanding regarding cooperation in the field of downstream oil and gas, during the 2019 South Sudan Oil & Power Conference.

As a testimony to South Sudan’s growing attractiveness as an investment destination, South Sudan Oil & Power (SSOP) 2019 was host to delegations and officials from Kenya, Ethiopia, Egypt, Somalia, Norway, United States and South Africa.

During his opening keynote, H.E. Minister of Petroleum of South Sudan, Daniel Awow Chuang, expressed the country’s vision in the oil and gas sector, amid increased production numbers: “The oil production in South Sudan has reached 178 000 barrels per day.

We hope to reach 250 000 barrels per day in the near future. We are successfully reaching target thanks to extensive support from our partners and neighbouring countries”. Minister Chuang emphasized on the importance of its cooperation with Sudan, with whom a historic peace agreement was signed last September.

Several initiatives were highlighted by H.E. Chuang as well as H.E. First Vice President of South Sudan, Taban Deng Gai, showing the country’s efforts to significantly increase oil production.

Last week, Sudd Petroleum Operating Company announced it would resume oil production at the end of the year. With a capacity of 80,000 barrels per day, the oilfields have been shut down since 2016.

South Africa’s Strategic Fuel Fund, which signed an exploration and production sharing agreement in May 2019, announced it would launch an aerial surveying campaign of its block B2 in December.

SSOP 2019 saw the signing of a Memorandum of Understanding between the South Sudanese government and Egypt’s state oil company Egyptian National Petroleum Corporation (EGPC) regarding regional cooperation in the field of downstream oil and gas.

This comes a few weeks after Egyptian President Al-Sisi called upon Egyptian exploration and production companies to increase participation in African countries and urged service companies to invest in South Sudan.

Egypt boasted strong participation at the event, with several companies and delegations present including the EGPC, Petrojet, Petrogas, Al Khorayef, Drexel Oilfield Equipment, among others.

South Sudan announced it would launch its first-ever licensing round in the first quarter of 2020, putting up 13 onshore blocks for tender. Numerous international exploration and production companies have already demonstrated their interest in South Sudan’s oil and gas potential.

SPOC Prepares To Ramp Up Production In South Sudan's Concession

South Sudan is preparing to restart production in various oil fields, including Block 5A operated by Sudd Petroleum Operating Company. A new discovery in the Dar Petroleum Operating Company-operated Adar field will drive investment into the country.

Juba will host the third edition of South Sudan Oil & Power (SSOP) 2019, produced by Africa Oil & Power and in partnership with the Ministry of Petroleum of South Sudan on October 29-30, 2019 and South Sudan will launch its first ever bidding and licensing round 2020 at SSOP 2019.


Sudd Petroleum Oil Company (SPOC) has proactively started corporate social responsibility activities for local communities surrounding Block 5A in the Tharjath field, which it operates.

The activities precede production resumption, which is expected to restart by the end of the year.

Work includes the provision of treated water supply, as well as the provision of medical supplies, which currently benefits an estimated 5,000 people in the area.

The South Sudanese government has been in talks with SPOC to re-open the block since 2016 by consulting with companies and deploying extra security at the Tharjath field.
The Block – which had a 10% production cap enforced by Sudan – has the potential to produce up to 15,000 barrels per day (bpd), according to an agreement signed between Sudan and South Sudan in 2018.

Block 5A is located in the Muglad-Sudd Rift Basin on the same geological trend as the Greater Nile Oil Project in Sudan. It has a production capacity of 80,000 bpd of high-quality Nile blend.
Production in Block 5A began in 2006 at 40,000 bpd and peaked at 54,000 bpd in 2009. By 2014, however, production was reduced significantly to 4,500 bpd, eventually ceasing entirely.

"SPOC community outreach activities will be further increased moving forward," President of SPOC Eruwan Gerry says.

The potential resumption of Block 5A comes during a time of peace in the country, as H.E. the Minister of Petroleum Awow Daniel Chuang strives to create a conducive environment for investors.

To further attract investment into the country's energy sector, Juba will host the third edition of South Sudan Oil & Power 2019, produced by Africa Oil & Power and in partnership and with the endorsement of the Ministry of Petroleum of South Sudan on October 29-30, 2019 at the Crown Hotel.

South Sudan's petroleum ministry will launch the country's first oil and gas bidding round 2020 at the event, as well as a comprehensive environmental audit, which will be done through an international tender – in line with the country's goal of promoting transparency.

"As we work towards replenishing our [oil] reserves, we want to invite investors to participate in the bidding and licensing round 2020. We [also] intend to announce the tendering round for a comprehensive environmental audit – the first of its kind in South Sudan," H.E. Minister Awow Daniel Chuang stated, adding that South Sudan is focused on addressing environmental challenges – a major concern of its citizens.

"We are going to have a comprehensive environmental audit, which needs to be done through an international tender – in line with our policy of promoting transparency," he said.

The country, meanwhile, made a new oil discovery at the Adar oilfield in Block 3 in August, containing more than 37 million barrels of recoverable oil.

The discovery was made by the Dar Petroleum Operating Company consortium, which is led by China National Petroleum Corporation – a major investor in South Sudan's oil sector.

"The new discovery in the Adar oil field is going to be a game changer because this is the first discovery that we have made since independence, giving hope to investors interested in South Sudan's energy sector. There is still more oil to be discovered," the Minister said.

The Minister also said he believes that the discovery will increase the appetite of international oil investors to enter the country's oil and gas space.

"Whether they can see discoveries today, big or small, it will gear up oil exploration and encourage more investment," he said, adding that the country – which currently transports oil to the Red Sea through Khartoum in Sudan – is also looking for new export opportunities.

"We welcome all international oil players to come to South Sudan and join SSOP 2019 in Juba. The business environment is very conducive as we continue to implement the peace agreement, because peace is going to add a lot of energy to the economic sector of South Sudan. We want to use this forum to teach investors about the business opportunities in oil and gas in South Sudan."

Juba Committed To OPEC & Non-OPEC Declaration Of Cooperation

South Sudan’s Minister of Petroleum, Awow Daniel Chuang, has reaffirmed the country’s continued support of the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC Declaration of Cooperation.

In a bid to accelerate the stabilization of the global oil market, the Declaration of Cooperation, initially agreed December 2016 and subsequently extended, stipulates that OPEC-member states, together with 11 non-OPEC oil producing countries, have agreed to voluntary production adjustments of 1.8 million barrels per day (bpd) in the interests of producers, consumers, investors and the global economy at large.

“We are committed to upholding the OPEC and non-OPEC Declaration of Cooperation to show solidarity with our oil producing partners, friends and counterparts globally,” the Minister says.

South Sudan’s pre-conflict oil production was 330,000 bpd. Current resumption efforts target 250,000 bpd, an output figure that continues to support the global cuts and stabilize the market. The most recent oil discovery, in the Adar oilfield in Block 3, contains 37 million barrels of recoverable oil.

To further attract investment, the Minister will announce the details of its inaugural licensing round in Juba, in October. The Ministry intends to officially launch the round by the last quarter of 2019 or the first quarter of 2020.

Increased Production Sees Ghana Raise Its Hydrocarbon Profile

When you think of the top oil and gas nations in Africa, Ghana is not one that traditionally comes to mind, but it is one of the rising stars. In the past, Ghana has been one of the smaller oil and gas producers on the continent but that production is expected to grow rapidly over the next five years.

The organisation charged with developing the West African nations' hydrocarbon assets is the national oil company, Ghana National Petroleum Corporation (GNPC). The rise in Ghana's production is expected to come from the growth of existing offshore fields such as Twenboa-Enyenra-Ntomme (TEN) and Offshore Cape Three Points (OCTP).

First oil flowed from the Tullow operated TEN fields offshore Ghana to the FPSO Professor John Evans Atta Mills in August 2016. OCTP is an integrated deepwater project in Ghana split into two stages: the development of first oil, then gas deposits operated by Eni Ghana. OCTP is around 60km from Ghana's western coast and boasts approximately 40bn m3 of non-associated gas reserves and 500m barrels of oil.

Mohammed Amin Adam, Ghana's Deputy Minister of Energy in charge of petroleum, is confident that the country's energy sector is on the brink of something big. He says the country can expand oil production from 180,000–-200,000bl/d now to 500,000bl/d within six years, and is targeting up to 1mn bl/d beyond that. "If we want to sustain or increase production, we will have to be very aggressive in exploration," he said.

The average production for TEN field in 2017 was 56,000 b/d whilst production for the OCTP field is expected to peak this year at 45,000 b/d. In addition to the two established fields there are other developments that are moving ahead rapidly such as the Teak, Akasa and Mahogany East discoveries where test wells have indicated sizeable reserves.

Another major scheme is the Ghana 1000, a multi-phase greenfield gas-to-power project located near Takoradi in the western regions of Ghana. This will consist of approximately 1,300MW of combined cycle power generation technology once fully built and will support Ghana's burgeoning domestic natural gas industry by purchasing natural gas from the Sankofa gas field, part of the OCTP field. A subsea pipeline will link a Floating Storage and Regasification Unit (FSRU) to onshore facilities which will then supply the project. It's expected that the FSRU will start up sometime in 2020.
 

Ghana completed its first oil and gas licencing round earlier this year with two of the five blocks on offer being awarded. First Exploration and Petroleum Development, in partnership with Elandel Energy (Ghana) emerged as winners of block WB02 while Eni Ghana and Vitol Upstream Tano claimed block WB03. Block WB03 is located in the medium deep waters of the prolific Tano Basin, offshore Ghana. Following the success of this round, a second licensing round is being planned.

Sharing the talent

Throughout the oil and gas industry, collaboration is the name of the game and that is no different in Ghana. GNPC recently signed a memorandum of understanding (MoU) to share expertise with three of its neighbours, Sierra Leone, Gambia and Liberia. "We believe that we need to share experience from other countries as a way of improving what we do," chief executive of the GNPC, Dr Kofi Kodua Sarpong, said.

"Our organization has been there for nearly four decades and we have the expertise, we can export talent, so we are looking at all these opportunities. In fact, I can say that our brothers and sisters in other countries are knocking on our doors for advice and that is precisely what we want."

Ensuring local benefit from oil boom

The development of these assets means that it is important that Ghana, in common with many other African nations, ensures that local workers and industry benefit from increased oil and gas activity.

"There is a recognised need to develop local capacity in all aspects of the oil and gas value chain through education, skills and expertise development, transfer of technology and know-how and promote an active research and development regime through collaborative efforts locally and internationally," Dr Kofi Koduah Sarpong, said.

 In Ghana in recent years, attention has been focused on the need to have a portion of locally produced materials, personnel, financing, goods and services rendered to the oil and gas industry with measurable monetary impact.

"In tandem with this goal is the pursuit of local content participation, which refers to the level of Ghanaian equity ownership in the oil and gas industry," Sarpong added. "Ghanaian-owned businesses in the energy sector must be encouraged to increase their participation in this emerging and growing sector.

This, surely, will be a more sustainable way of realigning the sector to the needs of the country in terms of employment creation and economic growth whilst reducing the impact of capital flight on the economy."

Ghana's oil and gas industry continues to attract key global industry players on the back of sustained investor interest, due largely to the favourable investment climate and stable democracy. "The potential of the sector to be a driver for Ghana's desired economic growth is evident," Sarpong concluded.

"But I hold the view that true benefits of the oil and gas sector and ultimately economic growth can be obtained only when Ghanaians capture a respectable level of value from the sector.  For a country pushing for self-dependency; a Ghana beyond aid, this noble call is not misplaced, and the time to act is now."

Ghana at Africa Oil Week

Reflecting its growing importance, Ghana will be well represented at Africa Oil Week with a triumvirate of high-profile speakers in Benjamin Kwame Asante, director of petroleum at the Ministry of Energy, Egbert Isaac Faibille, petroleum commissioner at Ghana Petroleum Commission and the Hon John Peter Amewu, minister for energy.

Empowering Africa to Make Energy Work

Minister of Mineral Resources and Energy of South Africa, Gwede Mantashe, launched the Africa Energy Series: South Africa 2019 report at the Africa Oil & Power conference; Under the second day’s theme of “Energy in Powering Growth”.

Panel discussions and talk sessions unpacked the challenges and opportunities in Africa’s power sector; Program highlights included topics such as the energy transition, Africa’s renewable energy sector, financing the power sector and energy security.

Following the successful conclusion of the first day of the three-day African Oil &Power conference and exhibition, the second day commenced today with a focus on the future of Africa’s power sector.

The day began with a keynote address from Kholly Zono, Acting CEO of CEF Group, who introduced Hon. Gwede Mantashe, Minister of Mineral Resources and Energy of South Africa.

In his introduction, Zono outlined CEF Group’ energy s strategies and shared that the CEF group is, in line with the conference theme, motivated by the goal of making energy work and, is driven by the agenda of addressing inequality, unemployment, and poverty.

He said, at the core of its strategy, the group is built on the fundamental principles of empowering people and innovation.

“The theme of the conference #MakeEnergyWork resonates very well with the CEF Group of companies, taking into account the global challenges in terms of energy requirements,” Zono said. “Making energy work is challenging us to move beyond strategies and focus on innovative approaches.”

In his keynote address, Minister Mantashe spoke about the role the energy sector plays in driving economic growth.

“South Africa recognises the energy and mineral resources sectors as catalysts to economic growth. We have witnessed how an adverse impact of high costs and unreliable supply of energy have on the productive sectors of the economy,” Mantashe stated.

He further added that the government is also promoting the Integrated Resource Plan and the Amendment to the Gas Act of 2001 to encourage investment in the energy sector and to increase energy security in the continent.

Minister Mantashe also launched the Africa Energy Series: South Africa 2019 report compiled by Africa Oil & Power and dedicated it to the late Deputy Minister, Bavelile Hlongwe.

In a renewable energy panel discussion moderated by Esther Lediga, Managing Director of Intra-Afrika Advisory, CEOs of companies operating in the sector from across the continent agreed that the clean, reliable and sustainable energy has a big role to play in lighting up Africa.

“Renewables have moved at a very fast pace. Many governments are still getting their heads around how to implement it in the best possible way. The benefits of renewable is multi-fold,” said David Masureik, CEO of New Southern Energy.

On building a sustainable renewable energy future, Maduna Ngobeni, Head of Regional Programmes at IPPO, said: “We shouldn’t compete with each other. We need to strive for a common goal – we need to understand where we want to be and how we get there.

How exactly do we make the environment conducive? What kind of project do you want? The private sector needs clear framework that will show: ‘for the next five to ten years, this is how we will roll it out’.”

In tune with this, the CSIR’s Energy Centre Head, Dr Clinton Carter-Brown, in an AOP talk session addressed South Africa’s energy transition to decarbonisation based on mostly renewable energy and highlighted that the transition presents more opportunities than challenges for the country.

“South Africa is well-positioned to be among regional and global leaders transitioning the energy system. Therefore strategic investment in research and development initiatives that speak to technology innovation and industrialization are paramount.”

In a utility of the future panel discussion joined by Sustain Power, Matleng Energy Solutions, USAID/Power Africa and more, the panel agreed on a customer-focused and sustainable strategies as the way forward. Rather than seeing the difficulties facing Africa as obstacles, the panel believes that these challenges hold the potential for Africa to get ahead of trend.

“Everyone wants to get off the grid. It’s a chance to leapfrog. If there’s an opportunity to leapfrog into new technology in Africa … [we] can become a leader in this worldwide.”

In the latter part of the day, the conference saw a panel discussions on financing the power sector. Participants on the panel included DMWA Resources, Afreximbank and others.

Noble Energy delivered a presentation on the Alen Gas Monetization, followed by Sasol and South Africa’s Independent Power Producer’s Office (IPPO) which highlighted how South Africa’s transition into renewable energy needs to factor in the human reliance on the coal industry.

“Our transformation is also very much a process that needs to consider the impact on the economy and the impact on the people who are deployed in the sectors that are affected,” said Sandra Coetzee, Acting Head of the IPPO.


15 Licenses On Offer As Somalia Opens Up For Business

Rich in hydrocarbons and possessing a favorable geological structure, Somalia holds huge opportunities for investors looking to enter the East African market, said the country's Minister of Petroleum and Mineral Resources, Hon. Abdirashid Mohamed Ahmed at the Africa Oil & Power conference.

"Nowhere is the contribution that the energy industry can make to civil society and economic development greater than in Somalia," he said. Noting that the sector has the potential to greatly enhance stability and economic development.

On its path to transforming its petroleum industry and attract the attention of new investors, Somalia has made significant progress in recent years. This year, the country passed a new petroleum law which enabled it to make progress in exploration and development and attract interest from oil and gas majors ExxonMobil and Shell.

"My ministry worked successfully with the six federal member states to develop an equitable and transparent framework for development, focused on the greater good of Somalia and all its people, whilst ensuring that we are highly competitive internationally to attract investment by delivering returns that are consistent with the risks and rewards of developing our off-shore industry," said the minister

Eager to demonstrate to the world that Somalia is open for business, the minister said the country is currently on an international roadshow which will showcase the exploration opportunities available in its hydrocarbons sector.

"This includes seismic data recently shot by Spectrum covering 20,185 km. The current licensing round is in respect of up to 15 blocks, covering a total area of approximately 7,500 square miles.  The bid round will follow shortly after to ensure that the world knows: Somalia is open for business."

Minister Ahmed also spoke on the attractiveness of the country's production sharing agreement (PSA) model for offshore oil exploration and development – regarding it as being amongst the most attractive to investors in the frontier basins. The PSA provides a highly attractive regulatory fiscal framework that is both competitive and equitable for both the people of Somalia and international oil companies (IOC).

"By equitably linking of royalties and share of revenue closely to the price of oil, the Somalia PSA ensures that IOCs can recover their up-front development costs and earn a fair share profit even if oil prices fall, whilst maximizing the profit going to the Somalian people," the minister explained.

Key Oil & Gas Territories To Make Big Announcements At Africa Oil Week

As ever, Africa Oil Week will be the place for major national roadshows in the oil & gas sphere. 30 ministries are taking part this year, with over 20 presenting.

This is the best chance to get insider knowledge on key opportunities, legislation changes, bidding rounds and more – direct from the companies and government intimately involved in leading them.

Here are some highlights of the National Roadshows and Bidding Rounds happening this year.

National Roadshows at Africa Oil Week 2019

Sierra Leone

Sierra Leone will be announcing details of a new bidding round at Africa Oil Week 2019.

Led by the Minister of Mineral Resources Hon. Foday Rado Yokie and Timothy Kabba, Director General of the Petroleum Commission of Sierra Leone, and supported by Jonathan Copus, CEO of Getech, the nation's delegation will be announcing the opening of a fresh round of exploration rights.

Only eight wells have been drilled there since 1982, with the latest coming from Lukoil in 2013, following three wells drilled by Anadarko (now Occidental) in 2009, 2010 and 2012.

Cameroon

The world of African oil & gas legislation requires closer scrutiny as new changes emerge. Cameroon is one nation that has recently made changes to its Petroleum Code.

Jean-Jacques KOUM, Advisor for SNH will present on how these changes will provide greater scope for operators, investors and the wider finance community to find new ground in Cameroon.

One of the key changes is tax holiday for oil and condensate development, and a further seven years for gas development. What's more, production sharing contracts (PSCs), can be modified to allow companies to recuperate "exploration expenses" from production based on Cameroonian on or offshore acreages.

Somalia

The Horn of Africa is open for business. Somalia's Petroleum Law and Revenue Sharing Agreement entered force in May 2019. The nation also unveiled its inaugural offshore licensing round.

Keynote speaker Hon. Abdirashid Mohamed Ahmed, Somali Minister of Petroleum and Mineral Resources, will lay out the future of Somali oil & gas for an international audience of financiers and operators this November.

"This year is a landmark year in the development of Somalia's natural resources," Minister Ahmed said. "The Ministry has worked successfully with the federal member states to create and equitable and transparent framework to develop natural resources for the greater good of Somalia."

Nigeria

No continental hydrocarbons summit would be complete without representatives from Africa's largest oil producer. Hon. Timipre Marlin Sylva and Melee Kolo Kyari, GMD, NNPC will be leading the Nigerian delegation, and Bala Wunti, Group General Manager, Corporate Planning and Strategy, NNPC, is on hand to give the latest updates and opportunities from Nigeria.

Nigeria continues to attract significant international attention. According to the NNPC, China is emerging as one of its key partners. Data from the NOC reveals that Chinese investments in Nigeria's oil sector have reached $16bn.

Even so, the nation is aiming at 70% indigenous participation in oil & gas projects by 2027, so there's a lot of interest in how Nigeria's hydrocarbons sector will develop in the coming years.

Mozambique

Mozambique represents 23% of all future African capEx, making it the second largest recipient of investment anywhere in the continent going forward. In particular, natural gas projects are set to receive a major boost – up to a potential $50bn in capital expenditure.

Following on the from the success of significant large-scale projects like Anadarko's $20bn Mozambique LNG project, players from across the globe are turning towards Mozambique with great interest. A proposed $5bn EXIM bank loan to fuel further development is only making the nation more attractive for investors.

Forming part of the Africa Oil Week 2019 National Roadshow programme is a look at Mozambique and the promise it holds for international players. Two of the key individuals helping transform Mozambique's oil & gas industry into something truly world class are speaking at Africa Oil Week this year.

Chairman of the INP, the National Petroleum Institute, Carlos Zacharias will be there to discuss his country's ongoing development, alongside NOC ENH's CEO Omar Mithá.

 

Media Contact:
Joanna Kotyrba
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Africa Oil Week: At the heart of African Oil & Gas
For over 25 years, Africa Oil Week (www.Africa-OilWeek.com) has been the meeting place for Africa's most senior E&P stakeholders.

It attracts the entire value chain, including Governments, NOCs, international oil companies, independents, investors and service providers. They come to set out the future direction of the continent's upstream oil and gas sector, secure major deals and lucrative new partnerships and take part in bidding rounds.

It is the best place to discover investment opportunities throughout one of the most promising regions on Earth for oil & gas development.

Africa Oil & Power To Launch Investment Reports For 3 African Countries

Africa Oil & Power's (AOP) Africa Energy Series (AES) investment reports are set to launch at the Africa Oil & Power conference and exhibition at the CTICC 1 in Cape Town, South Africa. All delegates attending the conference will receive a copy of the AES reports.

Providing a broad outlook on the energy sectors of South Africa, Angola, Senegal and Equatorial Guinea, the AES investment reports are a compilation of resources, articles and interviews with key industry players examining the potential and challenges in each country's petroleum industry.

The investment reports are a vital resource for investors entering or expanding their presence in the continent's energy sector. Covering both macro and micro-dynamics, the AES reports are one of the few holistic and informed resources available for an otherwise information scarce industry.

H.E. Gwede Mantashe, South Africa's Minister of Mineral Resources and Energy, will launch the South Africa report on the first day of the AOP conference, followed by H.E. Mouhamadou Makhtar Cisse, Senegal's Minister of Petroleum and Energy who will present the report on Senegal, which has been endorsed by H.E Macky Sall, President of Senegal as "the official publication documenting the immense investment opportunities within our oil and gas sector and within our country."

Showcasing the country's energy industry, the AES: Angola report will be launched on the second day of the three-day conference.

Endorsing the report, the country's President H.E. João Manuel Gonçalves Lourenço said: "At a time when our country stands resolute in its efforts to attract investment and promote partnership in all segments of the energy value chain, it has never been more critical to showcase the vision that our country has for its petroleum and gas industry to the rest of the world,"

Adding that, "I am honored to present the Africa Energy Series: Angola 2019 report as an official publication exploring the past achievements, future endeavors and untold investment opportunities present in our ever-growing oil and gas industry."

H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea will present the AES: Equatorial Guinea 2019 report, which has been embraced by the country’s President, H.E. Teodoro Obiang Nguema Mbasogo as a means to honor the contributions of individuals, organizations, government and the private sector who have remained committed to the country’s development.

“I am delighted to present the Africa Energy Series: Equatorial Guinea 2019 report as the official publication documenting the Year Of Energy and detailing the oil and gas achievements of this country,” said President Mbasogo, while endorsing the country’s second AES investment report.

Under the theme #MakeEnergyWork, Africa Oil & Power will facilitate discussions on new technology disrupting the energy sector, the potential of renewable energy, the state of the oil and gas industry, local content development, and more.

On October 9-11, over 1000 delegates will attend AOP 2019.

The conference will be opened by keynote speakers H.E. Macky Sall, President of Senegal; Minister of Mineral Resources and Energy of South Africa, H.E. Gwede Mantashe, Minister of Mines and Hydrocarbons of Equatorial Guinea, H.E. Gabriel Mbaga Obiang Lima, and NJ Ayuk, Executive Chairman of the African Energy Chamber.

At the exclusive gala dinner, AOP will present the Big Five Energy awards. The recipients of the 2018 Big Five Energy Awards are:

  • Nelisiwe Magubane, Chairman, Matleng Energy Solutions
  • Power Africa Increasing Electricity Access
  • Gas Mega Hub Equatorial Guinea
  • Standard Bank Mozambique LNG FID
  • Adewale Fayemi, Managing Director, Total E&P South Africa

Equatorial Guinea's Bioko Island Malaria Elimination Program will receive the Outstanding Contribution to the Community Award. Senegal's President Macky Sall will be honored with the Africa Oil Man of the Year award.

African Energy Chamber Invites Applications For 2020 Africa Energy Fellowship Program

In order to provide young energy professionals with the tools and experience to become future leaders across the industry, the African Energy Chamber is launching its first Fellowship Program in 2020.

Applications are open throughout October 2019, for a one-year program that will start in January 2020.

In line with its growing international cooperation, the African Energy Chamber will be welcoming young professionals from across Africa, North and South America, Asia and the Middle East to join its office in Johannesburg for 12 months.

The Fellows will be provided with an opportunity to apply analytical skills on concrete challenges and problems across the energy sector, and an opportunity to specialize in upstream oil & gas and local content development.

They will be working in collaboration with the Chamber’s dedicated oil and gas sector advisors and experts located around sub-Saharan Africa, and help deliver research and consulting projects that address on-the-ground challenges faced by Africa’s oil & gas sector.

“Our range of partners from across government agencies, national and international oil companies, Oil service companies, investment banks and institutional investors offer the perfect network and ecosystem for a young professional to develop herself or himself and grow as a leader,” declared NJ Ayuk, Executive Chairman at the African Energy Chamber and CEO at the Centurion Law Group.

“We are truly excited to get this fellowship program started and see it grow over the coming years. Ultimately, our goal is to contribute to training and nurturing the next generation of energy leaders by bringing on board any young people willing to grow and contribute to the development of Africa’s energy industry”

Selected fellows will be joining the African Energy Chamber for 12 to 16 months and join a team that provides comprehensive and thought-provoking research on the African oil & gas industry and energy sector at large, along with critical support to local content development programs across the continent.

A large part of the roles will focus on sharing and presenting data and informed views to the Chamber’s partners and the industry, and developing the right capacity building programs to institutional and private parties across the continent.

The 2020 Fellowship Program will be focusing on the following key aspects of the value-chain: upstream oil & gas, midstream, downstream and local content. Interested applicants should send their resume at the soonest to This email address is being protected from spambots. You need JavaScript enabled to view it. and highlight the contribution they wish to bring to the work of the African Energy Chamber.

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