By Adedapo Adesanya
Africa Oil & Power (AOP) is set to host African government delegations and European financiers at the first AOP Investor Forum slated for Paris from June 16-18.
The event, which will be dedicated to linking European investors and African companies and governments, will promote continued synergy between petroleum and renewables actors and drive a new positive narrative aimed to balance African development needs, climate goals and economic growth in Africa.
The two-day event will see African energy contracts on the table at the Paris Forum for European investors to participate in deals that will drive Africa’s growth post-COVID.
The participants include Nigeria, Ghana, Senegal, Mozambique, Niger, Côte d’Ivoire, Angola, Equatorial Guinea, Gabon, South Sudan, and Uganda.
For Nigeria, opportunities are available for European investors to partner with local firms and build critical energy infrastructure in the continent’s largest market.
Ghana is considered a stable environment and strong track record will promote interest in Ghana’s electricity, gas-to-power and oil projects in 2021.
Senegal is home to West African renewables and gas megaprojects, and recipient of a record $983 million in FDI in 2019; Côte d’Ivoire is the leading economy in Francophone West Africa, looking to oil and gas for further growth while Niger, under a new government in place and a pipeline planned to Benin is emerging as a Sahelian energy hub.
Mozambique, has been touted as Africa’s future natural gas megaproducer, with the $20 billion Mozambique LNG project FID approved and projects moving ahead fast with a reformed sector and political will are driving Angola’s post-COVID recovery. It is home to Africa’s largest offshore projects and is holding a series of licensing rounds.
For Equatorial Guinea, the Ministry of Mines and Hydrocarbons seeks investors for its ambitious gas mega hub and continued gas development projects while the Central African oil producer, Gabon has reformed its sector in recent years, with a new petroleum code in 2019 and a licensing round ongoing from 2018 to 2020.
Uganda is likely to become East Africa’s next oil producer, it’s Lake Albert region has attracted great attention and the country will complete its national elections this month while South Sudan has invested in power projects and is open to new entrants in renewables and petroleum. A licensing round is set to be held soon.
Speaking on this, AOP’s Managing Director, Mrs Renée Montez-Avinir, said, “Energy, in all its forms including oil and gas, is the cornerstone of Africa’s re-emergence from COVID. We believe that now is the time for African companies and governments to look again at their European partnerships and to push forward with deals that power their economies.”
“The energy transition, and the future funding of African oil and gas projects, plus Europe’s role in African investment going forward, will be at the heart of our discussions at the Paris investor forum. Oil and gas will continue to play an important part in Africa’s energy mix and economic expansion,” she continued.
Africa Oil & Power looks forward to welcoming major international oil companies, institutional investors and private equity firms to take part in the forum. AOP will make details of projects and deals available to its network in advance of the conference, and expects multiple agreements to be signed at the event itself.
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