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EGYPES introduces CLIMATECH Challenge for its upcoming 7th edition

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Demonstrating a firm commitment to Egypt’s Nationally Determined Contributions and its ambitious target of reducing greenhouse gas emissions by 65% by 2030, the Egyptian Ministry of Petroleum and Mineral Resources announces the launch of the region’s first CLIMATECH Challenge at the seventh edition of the Egypt Energy Show (EGYPES), taking place in Cairo from 19-21 February 2024.

The CLIMATECH Challenge serves as a global platform for start-ups to pitch their technological solutions and business models before a panel of influential selection committee members, spotlighting pioneering start-ups with cutting-edge solutions to expedite the energy transition and amplify the role of undiscovered energy innovators in advancing global net-zero targets.

Featuring a rich programme of keynote speeches, motivational talks, and panel discussions, the CLIMATECH Challenge will gather global energy industry visionaries, investors, change-makers, and emerging start-ups to showcase their critical innovations and groundbreaking climate technologies.

HE Tarek El Molla, Egyptian Minister of Petroleum and Mineral Resources, commented on the launch of the initiative, stating, “Egypt is accelerating its energy diversification and decarbonisation endeavours in line with Egypt Vision 2030. The world is currently witnessing unparalleled innovation paving the way for a low-carbon future, and we believe start-ups are the trailblazers leading this charge. Through the EGYPES 2024 CLIMATECH Challenge, we aspire to amplify the role of undiscovered energy innovators and shine the spotlight on their contributions in our shared journey towards a more sustainable, net-zero future.”

No doubt that,  entries from start-ups worldwide are welcomed , serving the energy transition with modern technologies that are addressing climate change and supporting the shift to clean and sustainable energy sources, including but not limited to decarbonisation, CCUS, hydrogen, circular economy, energy storage and energy efficiency.

The application deadline is set for Friday 24th November 2023. For more information about the CLIMATECH Challenge or to submit your entry as a participating start-up, visit www.egypes.com/climatech-challenge.

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Senegal: 33% up for grab into new Yakaar-Teranga gas project says PETROSEN

The development of the world-class Yakaar-Teranga gas fields offshore Senegal will welcome a new partner alongside Kosmos Energy and PETROSEN, the national oil company said today. Earlier this week, Kosmos Energy announced it was increasing its working interest in the Cayar Profond Block from 30% to 90% and assuming operatorship after the exit of bp. Both fields were discovered in 2016 and 2017 and hold some 25 Tcf of low carbon, high quality gas, making their development attractive for transportation and liquefaction. Kosmos Energy said it was working on a 550 MMscf/d development concept that would provide gas to the domestic market to replace heavy fuel oil in power plant, and export the rest via a new floating LNG (FLNG) unit. PETROSEN clarified that it would increase its interest to 35% once the fields start producing. Long-term, the view is for Kosmos Energy and PETROSEN to both farm down their interests to a new partner so that the partnership includes PETROSEN (34%), Kosmos Energy (33%) and a new partner that would hold the remaining 33%. “This structure marks a turning point in the growing influence of the national company who will play a growing role in the ventures in charge of developing the country’s hydrocarbon resources,” PETROSEN said in a statement.

NCDMB signs 5-year MoU with dmg Nigeria events to produce the annual PNC Forum

dmg Nigeria events and the Nigerian Content Development and Monitoring Board (NCDMB) have signed a 5-year extended Memorandum of Understanding (MoU) to further strengthen their collaboration on the Practical Nigerian Content (PNC) Forum. The Executive Secretary of NCDMB, Engr. Simbi Kesiye Wabote and Country Director of dmg Nigeria events, Wemimo Oyelana signed the MOU on the sideline of the just concluded 22nd NOG Energy Week in Abuja. This partnership, in conjunction with Levmora Services, aims to enhance the value delivered to Nigeria’s energy sector through the PNC Forum. According to the Executive Secretary, “PNC is one of NCDMB’s flagship projects and we have consistently maintained it for about 10 years. It is an industry event that has been growing from strength to strength and we hope to continue to improve on the programme. dmg Nigeria eventshas been a good partner so far and we will continue to keep that relationship.” Since its inception in 2011, the PNC Forum has been operating under the Nigerian Oil & Gas Industry Content Development (NOGICD) Act, passed in July 2010, when the Nigerian Content level stood at 5%. Through collaboration with the NCDMB, the Executive Secretary has deployed the PNC Forum as the platform to consistently reveal yearly strategies to enhance Nigerian Content, which has now reached an impressive level of 54% as of 2022. According to Wemimo Oyelana, Country Director of dmg Nigeria events, “We are honored to extend our partnership with NCDMB for an additional 5 years to elevate the Practical Nigerian Content Forum to new heights. This partnership signifies our shared vision of empowering local content development and promoting Nigeria’s energy capabilities on a global stage. Together, we will continue to deliver a dynamic and impactful event that connects industry leaders, fosters innovation, and propels sustainable growth.” The 12th edition of the annual PNC Forum is scheduled to be held in Yenagoa, Bayelsa State from the 4 – 7 December 2023. The event will create an avenue for industry stakeholders to gather and discuss strategies that will further Nigerian Content implementation and investment. The NCDMB presents its scorecard and plan for the next 12-18 months, while industry players are able to devise strategies for sustainable growth and provide feedback to the regulator. Participants also have the opportunity to showcase their capabilities and expertise to potential partners and investors, witnessing Nigerian Content achievements firsthand at the Site Visit. The partnership between NCDMB and dmg Nigeria events will ensure that the Forum continues to be a success as the PNC Forum is a core part of the NOGICD Act to ensure the effective implementation of the Act. dmg Nigeria events reaffirms its dedication to providing platforms to facilitate collaboration between the private and public sectors to unlock the full local potential of the Nigerian Oil & Gas industry. For more information about the upcoming PNC Forum, visit www.pncnigeria.com, or email info@pncnigeria.com