The Spend money on African Energies roadshow in Lagos – organized by the African Power Chamber (AEC) (http://www.EnergyChamber.org) on June 25 – united greater than 250 Nigerian entrepreneurs and traders interested by accessing alternatives in Africa’s oil and fuel and power sector.
Nigeria is house to the most important variety of indigenous service corporations, which meet over 75% of service demand from Nigeria’s oil and fuel business and are set to drive Nigeria’s upstream resurgence, in addition to present technical experience to different African oil and fuel markets. The Spend money on African Energies roadshow – previous the African Power Week: Spend money on African Power 2024 convention in Cape City this November – served as a strategic platform for Nigerian corporations to interact with stakeholders from different international locations and discover regional and pan-African enlargement alternatives.
“Nigerian corporations have the monetary energy and experience to reap the benefits of alternatives throughout the power sector in Africa. We on the African Power Chamber encourage this and see it as a win for all concerned,” stated AEC Senior Vice President, Verner Ayukegba.
AEW: Spend money on African Power is the platform of alternative for challenge operators, financiers, expertise suppliers and authorities, and has emerged because the official place to signal offers in African power. Go to www.AECWeek.com for extra details about this thrilling occasion.
Namibia is a key potential recipient of Nigerian oil and fuel experience, following a sequence of high-profile offshore discoveries made by Shell, TotalEnergies and Galp in its offshore Orange Basin totaling greater than 11 billion barrels of oil. Taking part within the roadshow was Africa World Logistics – a significant logistics and port operation participant just lately awarded the contract to supervise operations at Namibia’s Port of Walvis Bay, which helps oil and fuel actions like rig upkeep and restore work. Namibia is at present planning a $2.1-billion port enlargement challenge to allow oil and fuel improvement, creating additional alternatives for Nigerian and international traders.
Inside West Africa, Ivory Coast can be searching for upstream funding and technical experience from established producers like Nigeria. The nation made headlines earlier this yr with Eni’s discovery of sunshine oil and fuel on the Murene-1X exploration effectively, estimated to carry potential sources of 1.5 billion barrels of oil equal. Eni’s earlier discovery – the Baleine area – was fast-tracked into manufacturing final August and is ready to achieve 200,000 barrels per day by 2027, in addition to characterize the primary net-zero emissions challenge in Africa.
“At present, the largest investor in oil and fuel within the African subcontinent is Eni. They’re pumping about $6 billion into Ivory Coast, they usually made a discovery,” said Nosa Omorodion, SLB Govt Director, Nigeria and West Africa, on the roadshow.
Senegal and Mozambique additionally maintain vital demand for Nigerian oil and fuel providers, as two of Africa’s fastest-growing LNG markets. In Nigeria, indigenous firm BUA Group is spearheading the event of a 700-ton-per-day mini-LNG challenge, because it seeks to broaden its portfolio into the power sector and leverage its place as considered one of Africa’s largest meals, mining, manufacturing and industrial conglomerates. In the meantime, Shoreline Power Worldwide leads a diversified asset portfolio in Nigeria, Liberia, Ghana, Uganda and Angola, specializing in EPC providers for the oil and fuel business, energy technology options, development and ICT infrastructure. The corporate’s tailor-made energy options may very well be leveraged in new markets searching for power safety and sustainable power improvement.
“Seeing totally different gamers within the oil and fuel business within the room solely confirms the worth of the AEC to the sector, whereas constructing the ecosystem to assist the sector,” stated Kola Karim, CEO of Shoreline Power Worldwide.
Nigerian full-stream power exploration and manufacturing firm Adelaar Power additionally participated within the roadshow, advocating for enhanced gender inclusivity and development of girls inside Africa’s power business. Working in engineering, procurement, consultancy and providers, the female-led firm is searching for to empower feminine power professionals in each mature and rising markets via coaching and schooling, mentorship applications and training and sponsorship alternatives, amongst different gender equality initiatives.
“Seeing extra girls collaborating within the power sector and never being afraid to affix forces with the male-dominated business, sharing their distinctive views and experience to drive innovation and progress. Collectively, they’re breaking down boundaries, shattering glass ceilings, and making a extra inclusive and sustainable power future for all,” stated Grace Orife, Adelaar Power CEO and AEC Board Member.
Distributed by APO Group on behalf of African Power Chamber.