Total's 2nd Discovery In South Africa Promises Regional Gas-led Recovery

While anticipated, Total's second significant gas condensate discovery announced today in South Africa is nonetheless reason to rejoice after a year of deep uncertainty and struggles for the African energy sector. With partners Qatar Petroleum, CNR International and Africa Energy Corp, Total was able to start its multi-well exploration programme on Block 11B/12B only two months behind schedule, delivering what remains until now the year's only discovery across sub-Saharan Africa.

The Luiperd-1X well was drilled to a total depth of 3,400 meters and encountered 73 meters of net gas condensate pay within the Paddavissie Fairway, which already includes the 2019 Brulpadda discovery. This second find confirms the tremendous gas potential in South Africa and is expected to be followed by the drilling of a third, a potential fourth, exploration wells on the same block.

More importantly, the discovery further positions Africa as a global and competitive gas frontier that continues to offer very attractive exploration and gas commercialisation opportunities. The upcoming Africa Energy Outlook 2021 of the African Energy Chamber identifies several such high-impact wells for 2021 and 2022 that could yield similar discoveries in South Africa and Namibia. The outlook notably identifies the southwestern coast of Africa as being home to perhaps the most anticipated wildcats globally. The prospects, if successful, could open new basins for development and trigger big new investments towards the latter half of the 2020s.

Under its 2021 projections to be released in November, the Chamber notably sees gas production and consumption increasing on the continent. More specifically, new frontiers such as South Africa are expected to increasingly consume natural gas for industrial purposes and power generation.  Such developments could be a pillar for economic recovery post Covid-19, but would require the promotion of an enabling environment providing investors with sound and attractive policy and contractual frameworks.

"The African Energy Chamber has always seen Africa as a true frontier for exploration and promoted a much bigger use of gas across our economies to create jobs and support industrialisation. The gradual opening of a new domestic gas hub in South Africa is a very welcoming development that needs to be supported with efficient and transparent policies, and quick approvals of all necessary permits and licenses for gas to be commercialised and create value for South Africans," declared Nj Ayuk, Executive Chairman at the African Energy Chamber.

GE Awarded Substation Contract In Benin, West Africa

Contract totaling US$47 million awarded to GE Renewable Energy's Grid Solutions business through the Millennium Challenge Corporation (MCC); Installation of four substations and seven extensions strengthens electricity supply security in Benin, while additional energy capacity helps foster economic development and growth; Project builds on Grid's commitment to the continent to help drive local economies.

GE Renewable Energy's Grid Solutions business (NYSE:GE) has been awarded a contract of US$47 million for a substation project in Benin.

The nation's biggest high-voltage substation contract has been awarded through the Millennium Challenge Corporation (MCC) - a United States foreign assistance agency established by the US Congress. This is a critical grid project as only one-third of Benin's population has access to electricity, and total per-capita consumption is low due to limited access and availability. At the same time, rapidly growing demand for power, inadequate maintenance, and insufficient investment has stressed Benin's national electrical grid, creating power outages that hurt businesses and hinder social services.

Under the contract, GE will supply four substations, including gas-insulated switchgear (GIS) and seven substation extensions. The scope covers the most important high-voltage substation in the country, Vedoko, and is strategically placed to help strengthen the country's transmission backbone. GE will also work on upgrading the substations in Maria-Gleta, Berecingou, Djougou, Bohicon, Natitingou and Parakou.

"In recent years in Benin, there has been a lot of attention and investment in the country's energy arena. The distribution of electricity to its citizens is a critical enabler to helping make dreams come true, to supporting their aspirations as they take on the challenges of daily modern life," said Gabriel Degbegni, National Coordinator at the Millennium Challenge Corporation (MCC).

This is the second contract GE's Grid Solutions has received through MCC's $375 million power-sector focused agreement, or compact, with Benin. The first contract, a turnkey distribution management system project involving telecommunication infrastructure and substation adaptations, was awarded in 2018 and is currently being executed.

That project was designed to strengthen the country's grid and manage electricity losses that result during energy transmission, since Benin imports some of its electricity from neighboring countries. The new substations that GE will install as part of the latest project will be integrated into the distribution management system.

Both GE projects improve grid reliability, allowing additional energy capacity supply to support growth, boost productivity and generate more economic opportunities.

GE will provide a turnkey solution with design supply, civil work, local transportation and installation commissioning as part of the latest project. The supply includes all balance-of-plant and high-voltage substation equipment, GIS, power transformers, circuit breakers, disconnectors and earthing switches, instrument transformers, capacitors, and control and protection services. The entire project is expected to be completed in early 2022.

"Energy is a key component for on-going development in Africa," said Eric Amoussouga, CEO GE SSA Francophone at GE's Grid Solutions. "We are honored to be awarded this critical grid project in Benin, supporting the country's modernization efforts around its power sector. Moreover, additional energy capacity will help foster economic development and boost local area growth."

Helping to build African economies

GE's Grid Solutions will set up an office in Benin to provide training and skills through a local team. The local team will be hired via subcontractors to directly impact the economy.

The project builds on Grid's continued commitment to Africa, where the business is also upgrading three 225 kV substations in Cote d'Ivoire. Announced last year, that project aligns with GE's commitment to provide scalable power solutions in partnership with governments and utilities to meet West Africa's growing energy needs.

German Investors Target Mozambique LNG, Gas Projects

Germany's economic commitment to Mozambique will further be strengthened as the Germany Africa Business Forum embarks on a three-day trade mission to encourage, promote, and facilitate trade and investment between German businesses and a growing Mozambican economy.

German investors will visit Mozambique during the Mozambique Gas & Power (MGP) 2021 Conference & Exhibition taking place on March 8-9, 2021, an incredible opportunity organised by Africa Oil & Power (AOP) in partnership with Mozambique's Ministry of Mineral Resources and Energy (MIREME) and the Government of Mozambique.

The GABF further congratulates H.E. Filipe Nyusi, President of Mozambique for his selection as Africa "Person of the Year" for 2020. "Thanks to the leadership of His Excellency President Nyusi, Mozambique is on the verge of becoming an international player in the global energy market, and the GABF calls on German investment and technology to play a part in this transformation", stated Sebastian Wagner, Executive Chair of the GABF.

The investor mission provides German investors an opportunity to engage with key Mozambican businesses and political stakeholders. The goal of the investment roadshow is to deepen German-Mozambican relationships in light of Mozambique's recent discovery of substantial natural gas fields, largely considered a game-changer for the country and its people. Natural gas in its liquefied form (LNG) is a clean and safe fuel that is growing in global significance, as world energy demand increases in a lower-carbon context.

The German energy sector continues to be among the most innovative sectors of the European economy. German businesses understand that they need to play a strong and competitive role in Africa to ensure a cleaner and stronger Germany.

"Mozambique is a great opportunity for German businesses to invest in gas monetization projects, petrochemicals, power projects, industrialization and immediate diversification of the economy that leads to jobs for the people of Mozambique and Germans alike", added Wagner.

Mozambique offers German companies many untapped opportunities to adapt and create new business models that are inclusive of and responsive to the tremendous opportunities and potential that exists in Mozambique.

The platform, created by the government of H.E. Filipe Nyusi and the Africa Oil and Power team to bring investment into Mozambique, is a step in the right direction. The GABF will be hosting the Germany-Mozambique roundtable and related discussions during the event, and will announce several investment agreements.

Mozambique is going to play a strong role in driving energy security and global peace, and will empower young people. When Germany exports goods and services to Mozambique or invests in its booming LNG markets, Germany must see this as a long-term engagement with Mozambique.

"Germany has had strong relations with Mozambique since independence. Many Mozambicans studied and lived in Germany, and Germany has provided wide-ranging support to support peace and reconciliation in Mozambique. Economic empowerment has to be our next goal, and now is the time," concluded Wagner.

Russia, Equatorial Guinea Tee Off Geological Mapping Project

Last week marked an important step in the energy cooperation between Equatorial Guinea and Russia, as the first team of Russia's state-owned joint stock company Rosgeo arrived in Equatorial Guinea to kick off a historic geological mapping project.

The initiative has been in the making for some time, and follows the signing of Memorandum of Understanding during the Russia-Africa Summit in Sochi in 2019 between Rosgeo and the Ministry of Mines and Hydrocarbons (MMH). It was followed by the signing of two firm services contracts in May 2020 with JSC Zarubezhgeologia and JSC Yuzhmorgeologia, internationally operating subsidiaries of Rosgeo, for the initial phase of seismic acquisition in transit zone and state geological mapping in the Rio Muni area in mainland Equatorial Guinea.

As a result, JSC Zarubezhgeologia will be performing scouting works for state geological mapping, and JSC Yuzhmorgeologia will be performing scouting works for complex seismic acquisition in the transit zone of Rio Muni. The activities are notably aimed at analyzing landscape conditions for geological surveying and prospecting, determining the scope of mapping drilling, researching the possibility of mineralogical sampling of channel deposits, analyzing technical conditions for the arrangement of geological camp in Rio Muni, and other scouting necessary to prepare for next phases of exploration works. 

Equally important, the program marks the re-entry of Rosgeo into Equatorial Guinea following successful operations of its subsidiary JSC Zarubezhgeologia back in the 1970s. when its activities formed the basis for Equatorial Guinea's geological exploration industry.

"This is a historic momen for Equatorial Guinea as we welcome once again long-standing partners of our country to explore onshore Río Muni. We expect this region of Equatorial Guinea to become a new natural resources hub both for onshore oil & gas operations but also for mining and minerals. Upcoming exploration activities will provide the foundation for this next phase of growth in our industry, and having Rosgeo on the ground gives us confidence and faith for a successful exploration campaign," declared H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons.

The Rio Muni area is believed to be one of the most promising exploration frontiers in Equatorial Guinea, which could turn the country once again into a hotspot for natural resources exploration. Increased exploration is expected not only to help in sustaining and increasing domestic output of oil and gas, but also in proving additional reserves in key minerals to help Equatorial Guinea further diversify its economy.

Data Emerges As Crucial Component Of Post-COVID-19 Oil Industry Recovery

The 'Leveraging the Power of Technology for Oilfield Optimization' webinar was organized by Microsoft in partnership with Africa Oil & Power and the African Energy Chamber; Lower production costs are paramount to a revamped global oil sector with technology to spearhead cost reductions; The COVID-19 pandemic has accelerated technology adoption as an integral component of oil and gas projects.

During a webinar organized by Microsoft and Africa Oil & Power under the theme 'Leveraging the Power of Technology for Oilfield Optimization' on Tuesday, panelists examined how digital applications are capable of uniting real-time data with advanced analytics to improve decision-making and boost efficiency and sustainability. As oil and gas companies continue to face threats to efficiency, sustainability and profitability, digitalization and optimization of oilfield assets have emerged as principal cost-cutting mechanisms in the wake of the COVID-19 era.

According to Vaseem Khan, Global VP Digital, Analytics and Innovation and Chief Innovation Officer, McDermott, Africa has the opportunity to leapfrog traditional oil and gas operations thanks to technology.

"Technology is an enabler for sub-Saharan Africa to become more competitive and become one of the most prominent producing area globally," he said.

Multi Cloud Specialist at Microsoft, Dizando Norton, presented to the large virtual audience Microsoft's initiatives to boost technology adoption in the oil and gas industry while lowering carbon emissions footprint in line with Paris Climate Agreement. "By 2030, Microsoft will be carbon negative, reducing emissions by more than half. By 2050, Microsoft will remove all the carbon the company has produced since its founding in 1975," he noted.

Microsoft is collaborating with Chevron and Schlumberger to deploy optimized technology-based processes looking to accelerate data analyzing, thus triggering new exploration opportunities and speed up time to first oil.

According to Norton, there are a number of transformative projects currently taking place in the eastern and southern Africa energy space. "These projects are supported namely by Microsoft's enabling cloud services allowing customers to increase efficiency while reducing operational costs."

Looking at the perceived high cost of entry to technology, Dr Babajide Agunbiade, Business Development Director at National Oilwell Varco believes the long-term vision is a crucial aspect of technology deployment. "Customers need to move away from the short-term financial aspect and look at the entire lifecycle of the project which can have up to a 30-year lifespan."

Vaseem Khan further stated that "technology is becoming cheaper and more accessible. The cost of deploying technology is now a minor expenditure in the project. Technology is the most efficient when looked at as an integral part of the project. Implementing a holistic vision will allow decision-makers to implement technology in a stable and rational way, with immense rewards down the way."

Osama Hanna, WW Energy Industry Core Team / Industry Digital Strategist at Microsoft gave the example of a project he led with an industry stakeholder regarding well corrosion. Following a government regulation regarding well maintenance, Microsoft implemented a real-time monitoring solution to proactively detect corrosion, ultimately reducing corrosion by up to 46%, thus avoiding a potential "plug & abandon" down the road.

Finally, the panel touched upon the role of technology in a post-COVID environment. According to Vaseem Khan, "COVID-19 has acted as a technology accelerator. Technology adoption has dramatically increased during the pandemic. It has allowed many projects to continue or resume faster and has shown many operators than remote work is an efficient way to maintain operations while lowering costs. The new normal is to use technology in order to deliver projects efficiently, in a cheaper manner. Technology is not an option for the future, it's necessary at the present."

Dr. Agunbiade stressed the importance of lowering costs thanks to technology in a context of long-term lower demand for oil: "COVID-19 has brought peak oil closer. Demand for oil is set to decrease continuously from here. This situation stresses the importance of lower costs in all aspects of the petroleum business: material selection, improved research and development, remote work. All these crucial topics can and must be supported by technology."

On a final note, Osama Hanna highlighted efficiency as the central topic for the post-COVID era. "Looking forward, efficiency will be a key challenge for all operators in the petroleum space. The price of a barrel is decided by the market, but companies can have an impact of their operational expenditure by optimizing efficiency across the value chain, whether we speak about human resources, equipment, technology and so on."

International Geophysical & Dilling Contractors Eye Africa Exploration Opportunities

The oil and gas industry globally is currently going through a period of transition, during which the industry is re-adjusting itself to operate in a post COVID-19 environment with oil prices likely to stabilise between USD 35-50 Barrels per day. Despite these challenges, drilling activity in Africa according to African Energy Chamber projections is expected to drop in 2021 only slightly from projected 2020 levels.

A total number of 800 wells are expected to be drilled this year, with that number expected to drop only slightly below 800 in 2021. These numbers, however, represent a drop of over 25 percent compared to 2019.

Similarly, capital expenditure is also expected to reduce by over 25% between 2019 and 2021. An estimated USD 28 Billion is expected to be spent on upstream capital expenditure projects in 2021, with over USD 10 billion of that dedicated to field development projects. This continues to present significant opportunities for companies involved in the upstream value chain like drilling and geophysical contractors.

"Those service providers, that are able to adapt to the new market conditions by implementing effective cost control solutions and streamlining processes, especially with the help of technology will thrive and grow at the expense of those companies that are slow to adapt to the new market realities," said Verner Ayukegba SVP at the African Energy Chamber.

"The AEC position in Angola has not changed: we continue to see opportunities in Angola and believe it's important to shine a light on these and bring industry players from across the globe to exploit these as we face this challenging situation together, and overcome. Angola's oil and gas industry is a well-developed one, but it's absolutely clear that we will need to always innovate and collaborate in order to remain relevant for the years to come.

Our key role at the African Energy Chamber is to be the voice of the African energy industry and this is a prime example of how we do that. It's a unique chance to make connections and hear more about the landscape of the African energy sector." Concluded Sergio Pugliese, Angola President for the African Energy Chamber

The International Association of Geophysical Contractors (IAGC) and the International Association of Drilling Contractors (IADC) representatives on the panel will talk about emerging industry trends, technological developments in the industry, new standards and regulations that affect their members and possible changes in legislation that are likely to affect their members and the industry.

The panel also contains experienced professionals who will enrich the discussions with on the ground experiences on how they are steering their companies to take advantage of existing opportunities in the African oil and gas sector and what plans they have going forward.

As many African countries continue to bend over backwards to encourage exploration and drilling, especially of new licenses, what other concessions are companies looking for, to take up new exploration activity? Nigeria for example is currently going through a marginal field bidding round, which will lead to the award of numerous licenses in 2021. What incentives need to be availed, to the new license holders, to enable them to deploy exploration capital in the quickest and most effective manner possible?

Finally, the webinar will also examine how Africa currently compares to other oil and gas producing regions and what African countries need to do to develop and grow their competitive edge vis-a-vis other oil and gas producing regions globally.

Republic Of Congo Scores Meaningful Implementation Of EITI Standards

The Republic of Congo has made meaningful progress in implementing the EITI Standard, with significant improvements in transparency of state-owned enterprises, oil sales and license information. Validation, the EITI’s quality assurance process, found that the Republic of Congo’s performance in implementing EITI Requirements has improved markedly since the country’s first Validation in 2018.

Spurred both by a new International Monetary Fund programme in 2019 and by EITI implementation, the Republic of Congo has published data for the first time on its national oil company. Information now entering the public domain includes oil sales by the state and international oil companies and the management of oil revenues not transferred to the Treasury. Publication of this data, previously considered sensitive, has led to more open public debate.   

“We welcome the Republic of Congo’s efforts to expand extractive industry disclosures beyond minimum requirements to areas of high public interest, including oil sales, production costs and the national oil company’s financial statements,” said EITI Board Chair Helen Clark. “The challenge is for all stakeholders to sustain progress and ensure that the EITI is contributing to evidence-based public debate.”

Consolidating oil sector transparency

The past two years have seen a series of firsts in the Republic of Congo’s disclosures on the upstream oil and gas sector. Building on the disclosure of oil and gas contracts, the Republic of Congo launched a publicly-accessible oil and gas cadastre system in 2018. The 2016 and 2017 EITI Reports break down data on oil and gas production, production costs and oil sales to an unprecedented level of detail, including information on individual oil fields. SYSCORE, a new online reporting system under development, will bring timelier disclosures of extractive company payments to government. This new transparency provides a strong basis for greater public use of extractive data, including in areas such as open financial modelling and revenue forecasting.

“The government’s oil sector reforms in the past two years have led to unprecedented transparency in the governance of the country’s extractive industries,” said EITI Congo Permanent Secretary Michel Okoko. “EITI implementation is a governmental priority and our core strategy is to regularly improve all governance policies.”

Strengthening oil revenue traceability

New disclosures have extended to the national oil company, the Société nationale des pétroles du Congo (SNPC), a central player representing the state in the oil and gas sector. In the past two years, the Ministry of Finance and Budget published SNPC’s audited financial statements for 2012-2018 for the first time, although consolidated financial statements for the SNPC Group have yet to be disclosed. Combined with the Republic of Congo’s EITI reporting, these documents have opened up the management of the state’s oil revenues and highlighted the deductions made to fulfil state commitments.

Since mid-2018, the government has gradually reflected these various deductions from state oil revenues in its fiscal reporting. Successive fiscal reports for 2018 and 2019 present the value of deductions from state oil revenues, while the national budget reflects related expenditures in the government budgets for 2019 and 2020.

Key to improving the accountability of these deductions, the government has pledged to disclose more information on the agreements underpinning the various deductions, including the framework agreement with the Chinese government on the reimbursement of infrastructure projects and pre-financing agreements with commodity traders.

Opening space for debate

Accounting for a third of government revenues and 80% of exports in 2017, the extractive industries are of national importance in the Republic of Congo. Public debate around the management of the forestry, mining, oil and gas sectors is crucial for improving the accountability of public finance management. The EITI Board’s decision on the Republic of Congo’s second Validation acknowledged improvements related to freedom of expression on oil and gas issues previously considered too sensitive for public debate. While more work is needed to address remaining administrative bottlenecks related to civil society’s engagement in the EITI, the emergence of robust debate on the basis of EITI findings and recommendations is a welcome development.

The Republic of Congo will have 18 months to address nine gaps in its implementation of the EITI Standard before its third Validation.

Local Content To Fire Up Africa's Economic Recovery

The African Energy Chamber held its first meeting with its Local Content Committee recently, placing local content development at the core of its activities. 

With several established markets like Nigeria or Angola and frontier energy markets such as Senegal or Uganda, the oil sector supports several of Africa's economies. As a result, the African local content has become a key priority for government, regulators and industry stakeholders.

Issues around the perceptions and understanding of local content dynamics were major topics of discussion. Key points put forward included the need for African governments and companies to develop better implementation of local content policies and come up with new approaches putting entrepreneurship and capacity building as priorities.

From financing African starts ups, SMEs and companies to promoting an enabling business environment, it was agreed that African governments and regulators need to rise up to the task and provide for better conditions and environments for African entrepreneurs to thrive.

Established African energy markets such as Congo Brazzaville, Equatorial Guinea or Gabon are still missing a pool of strong local companies across the value-chain, and especially in upstream. Despite producing oil and gas for decades, their environment has remained until now unfavorable to the nurturing of entrepreneurs in oil & gas, especially because of a lack of domestic financing.

The regionalization of the African content was identified as a key trend for the short and medium-term. With the roll out of the African Continental Free Trade Area (AfCTFA) and upcoming first oil and gas in many African markets, the potential to have local content move away from a pure international-local perspective is real.

This is especially an opportunity for local companies within established markets, be it Nigerian companies regionalizing the oil & gas content or South African and Kenyan companies regionalizing content within the renewable energy space. African companies have the means and opportunities to create regional ventures and partnerships taking the African content development to a new level, and must be seizing them.

Finally, inclusion in the workforce is set to become a major focus for the Chamber and its Committee, especially when it comes to promoting youth and women inclusion in the extractive industries. A sustainable African energy industry will only be as strong as it is inclusive, and better mechanisms and policies need to be put in place to ensure African women and youth can build successful careers in the sector.

In that regard, upcoming producers such as Senegal, Mozambique or Uganda have a unique opportunity to truly innovate as they develop their own approach to capacity building and local content development.

As the COVID-19 pandemic further increases the need for localizing value chains in Africa, local content development is set to become even more important for all industry stakeholders. Its success will ultimately depend on the nurturing of capable and patient African entrepreneurs able to raise capital and engage regionally with the right partners to build successful ventures. In such a journey, cooperation with international companies, but especially amongst African entities, will be crucial.

Kariya Energy Set To Acquire Oil And Gas Assets In Various African Jurisdictions

Kariya Energy has announced that it will enter into various definitive agreement to acquire upstream and midstream oil and gas assets in African countries.

Kariya Energy's technical and financial strength puts it in a position to bring Canadian and American ingenuity into the growing oil and natural gas market in Africa.

Kariya Energy and its management team's engagements and experience with various deep and shallow water projects in Mozambique, Nigeria, Senegal, Congo DRC, Congo Republic and Gabon makes these countries great investment possibilities.

After spending 16 months reviewing data from various IOC's, Kariya Energy will be pursuing acquisitions of various exploration and development plays either through Farm-in deals or operatorship through risk service contracts, or direct negotiations with sovereign governments.

Kariya Energy will continue with its current and ongoing support by providing technical, financial, and operational support for oil and gas companies currently operating in Nigeria, Congo and Gabon.

Kariya Energy's strategy has focused on the innovation and evaluation of new opportunities for resource extraction with great technology that has produced results.

Kariya Energy will pursue profitable small-scale LNG projects across Africa, a niche that its leadership has been skilful in building and making it profitable and scalable, boasting significant potential across the African market.

With its technology, Kariya can turn around African small-scale LNG and work with partners in addressing off-grid power generation for industrial and residential needs in remote locations and deal with issues around energy poverty.

DR Congo Expresses Strong Political Will For Gas Monetization Projects

Surrounded by major African oil & gas producers Republic of Congo and Angola, the Democratic Republic of Congo (DRC) has so far remained relatively absent of Africa’s league of hydrocarbons producers. In 2019, only French independent Perenco produced from the DRC, at an average rate of 25,000 boepd from 11 onshore fields.

In this context, the administration of President Félix Antoine Tshisekedi has made energy security and investment its top priority, seeking to get massive hydropower projects off the ground but also to diversify the country’s energy basket and create jobs in the process.

In yet another decision supporting the development of the DRC’s hydrocarbons industry, President Félix Antoine Tshisekedi requested its Minister of Hydrocarbons, Hydraulic Resources and Power and its Minister of Finance to fast-track legal processes and permits pertaining to the valorization of the natural gas produced onshore by Perenco. The decision was taken at the latest Council of Ministers last week in Kinshasa.

The move is expected to result in the monetization of natural gas through power generation, especially to address the DRC’s energy deficit and provide stable supply of power to its booming mining industry.

“We are extremely optimistic about the future of oil & gas in the DRC given current political support for the industry. While market-driven policies are needed to ensure investments in gas monetization, an enabling environment is key to unleashing the massive potential of the DRC and the energy industry is open to supporting the DRC,” stated NJ Ayuk, Executive Chairman at the African Energy Chamber.

“The DRC also offers 100GW of hydropower potential, and its upcoming hydroelectric stations are expected to require billions of dollars. It is a chance for investor and local players to participate and support the ambitious growth plans of President Felix Tshisekedi fighting energy poverty and boosting energy for industrial development that will create jobs and transform the economy with a post covid-19 recovery strategy,” concluded Ayuk.

The African Energy Chamber is encouraged by the governments decision as we believe locally available natural gas offers the perfect opportunity to build power capacity in the short-term and ensure a stable and cheaper power to DRC’s industries and mining companies.

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