The partnership will see both organizations expanding dialogue on energy transition, financing, oil and gas, and technology
JOHANNESBURG, South Africa, March 7, 2022/ — African Energy Week (AEW) 2022, Africa’s premier energy event, is proud to announce a new partnership with the African Petroleum Producers Organization (APPO) – a consortium of African hydrocarbon producing countries committed to Africa’s energy and economic future. Focusing on energy transition, oil and gas financing, upstream and technology, the partnership will be critical for the continent as it moves to exploit new resources, increase production, and ensure Africa is in a strong position to tackle energy poverty.
APPO was formed in 1987 to promote cooperation amongst African hydrocarbon producers and to encourage the use of petroleum to strengthen the continent’s energy mix for energy security and economic growth. APPO has expanded from seven founding member states in 1987 to over fifteen today, collaborating on technology, policy and business model research and development and the application of global best practices to establish Africa as an international energy hub. Member countries include Algeria, Angola, Benin, Cameroon, Chad, Congo, the Democratic Republic of Congo, Chad, Ivory Coast, Gabon, Libya, Niger, Nigeria and South Africa, who will all be participating at AEW 2022.
Under the terms of the partnership, all member-states of APPO will be participating at and driving critical discussions at the 2022 edition of AEW, which will take place on 18-21 October 2022 in Cape Town.
“We welcome the participation of APPO and its member states at AEW 2022. Having Africa’s leading hydrocarbon producers under one roof at AEW 2022 will be critical for Africa’s energy future, ensuring the continent’s heavyweights are both a part of and lead decision making and dialogue. At AEW 2022, the continent’s energy market challenges will be discussed, and energy transition solutions fit for Africa presented. AEW 2022 is committed to oil, gas and energy transition and look forward to seeing conversations go from ‘Cape to Cairo’, from AEW 2022 to COP27,” stated Tomás C. Gerbasio, Director of AEW.
Despite the vast hydrocarbon reserves across the continent, inadequate investment in exploration and production has limited the growth of the continent’s energy market and economy. An increasingly restrictive financial environmental due to global energy transition policies, coupled with the effects of the COVID-19 pandemic, have further limited investment for Africa to maximise its hydrocarbon potential and address energy poverty. What’s more, despite an anticipated increase in hydrocarbon production in Africa in 2022, and demand expected to increase to pre-COVID-19 levels, declining oil and gas reserves in legacy fields continue to challenge market growth. African producers are struggling to optimise oil and gas production due to limited exploration activities. AEW 2022 will host investment-specific discussions, summits and presentations on how countries can improve regulatory regimes and policies to attract much-needed investment for oil and gas exploration. AEW 2022 will highlight the role which Africa-tailored financial solutions such as the proposed African Energy Bank can play to ensure the use of hydrocarbon resources is optimised to make energy poverty history across the continent by 2030.
Moreover, civil unrest across Africa has also affected production highlighting the need for cooperation amongst regional governments, regulators and energy market players. AEW 2022 will provide a platform for collaborative discussions to be held and investment deals to be discussed and signed.
In this regard, the participation of APPO, backed by this significant partnership, will be critical, both for the success of the event and for the future of Africa’s producers. Discussions centered around financing Africa’s upstream market – particularly important considering the reduced capital expenditure environment brought about by the pandemic and energy transition -; an Africa-adapted energy transition in which gas plays a central role; and the role technology plays in both modernizing and strengthening Africa’s energy space will be held, led by APPO member states.
Leading oil and gas producers and APP0 members such as Libya, Algeria and Nigeria will discuss market growth plans, policy reforms and lessons learnt after decades of markets expansion at AEW 2022.
Distributed by APO Group on behalf of African Energy Chamber.
