Business

Many African countries are harnessing gas and other cleaner and greener energies to drive their industrialisation journey. African countries including Ghana and Nigeria are investing in gas infrastructure and promoting its utilisation, and by extension are addressing energy poverty and environmental challenges. The Honourable Minister of Energy for Ghana, H.E. Dr. Matthew Opoku Prempeh, who recently confirmed his participation in the NOG Energy Week, taking place from 30 June to 4 July at the ICC, Abuja, amplified the need for competitive financing to propel natural gas projects.   Nigeria, boasting gas reserves of over 200TCF, recently announced plans to execute a gas strategy that will trigger the nations industrialisation and economic growth. NNPC Limited’s Executive Vice President for Upstream, Oritsemeyiwa Eyesan, shared the organisation’s plans to deepen domestic gas utilisation for power generation in a bid to support the manufacturing sector.  To transform the energy sector in West Africa, leveraging natural gas to drive economic growth and development is key. Gas for industrialisation contributes to increasing energy transition progress across the region. From revitalising key industries to fostering innovation, the strategic focus on gas underscores a commitment to propel West Africa towards a future built on energy security and economic resilience. Through the Decade of Gas Initiative by the Nigerian government, industry leaders have continually conveyed a collaborative approach aimed at unlocking the country’s energy resources. To drive progress in Sub-Saharan Africa’s energy market, energy stakeholders, government officials, regulators, and key industry players are convening at NOG Energy Week 2024 to deliberate on policies aimed at meeting West Africa’s energy demand. The event, themed “Showcasing Opportunities. Driving Investment. Meeting Energy Demand.”, is scheduled to take place from 30 June – 4 July at the International Conference Centre (ICC), Abuja.  Speaking on what stakeholders should expect at NOG Energy Week 2024, the Country Director – Nigeria & Portfolio Director – Africa for dmg events, Wemimo Oyelana, said, “Our commitment for almost 25 years has been to provide a platform where industry leaders can have frank conversations that proffer solutions to the different challenges the industry is facing. NOG Energy Week has contributed significantly to key policy development & implementation over the years. We look forward to having industry stakeholders discuss pertinent issues including; Attracting International and Regional Funding Into Nigeria’s Energy Sector, Optimising the Significance of Natural Gas as the Fuel Of Choice, and Driving Industrialisation as a Catalyst for Economic Growth.  Expected government officials and industry leaders at NOG Energy Week 2024 are; H.E. Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), H.E. Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas), Dr. Matthew Opoku Prempeh, Minister of Energy, Ghana, Engr. Gbenga Komolafe, Commission Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Farouk Ahmed, Authority Chief Executive, Nigerian Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), Mele Kolo Kyari, Group Chief Executive Officer,  NNPC Limited, Elohor Aiboni, Managing Director, Shell Nigeria’s Exploration and Production Company Limited, Dr. Philip Mshelbila, Managing Director & Chief Executive Officer, Nigeria LNG, Eberechukwu Oji, Managing Director and Chief Executive Officer, ND Western, Dr Ernest Azudialu – Obiejesi OFR, Chairman, Nestoil Limited, Adewale Tinubu, Group Chief Executive, Oando PLC, Julius Rone OFR, Group Managing Director, UTM FLNG Limited, Daere Akobo. F.IoD, F.IMC, CMC, Group Chief Executive Officer, PANA Holdings, among others.

Earlier this week, the Cameroon Civil Aviation Authority (CCAA)’s Training School validated the training of 14 new students with the issuance of Certificates of Competence in Aircraft Maintenance and Recycling (CAMRA 2024). The programme is delivered jointly by the National School of Engineering of Yaounde and was supported by Caverton Helicopter who provided 3-month internship opportunities  to four trainees at its facility in Ikeja. Caverton also fully sponsored two trainees, who will now be hired by the company. The CAMRA training provides Cameroonians graduates with the tools and knowledge to meet industry and authorities’ demand for aviation managers in aircraft maintenance, continuing airworthiness management and aircraft recycling. The certificate issuance ceremony that took place this week was attended by the Honourable Minister of Transport, Mr. Jean Ernest NGALLE NOBEHE as well as the Director General of CCAA, Mrs. Assoumou Koki and various public and private stakeholders of Cameroon’s aviation sector. Caverton was represented by its Group CEO, Mr. Olabode Makanjuola in and its Group COO, Mr. Rotimi Makanjuola.

The African Petroleum Producers Organisation (APPO) held the 5th Meeting of the CEOs of national oil companies (NOCs) today in Brazzaville. The presidence of the Meeting was handed over from Algeria’s Sonatrach to SNPC with a mandate of growing collaboration and partnerships between African state-owned energy companies. With the attendance of CEOs and representatives from the NOCs of Algeria, Angola, Benin, Gabon, Republic of Congo, D.R. Congo, Libya, Nigeria, Equatorial Guinea, Niger, and Côte d’Ivoire, the Meeting focused on addressing Africa’s main energy challenges. Access to capital and the need to develop sustainable operational practices featured high on the agenda. The Meeting notably welcomed an intervention of Dr. Sultan Al-Jaber, CEO of the Abu Dhabi National Oil Company (ADNOC) and President of COP 28. With the UN Climate Change Conference only two weeks away, African NOCs discussed a common position on climate change and Africa’s approach to the energy transition. They notably considered signing into the Global Decarbonization Accelerator (GDA), an initiative to be launched in COP 28 and for which nearly 20 NOCs/IOCs have joined already across the world. The day ended with a recommendation to consider signing the Global Charter on Decarbonisation and pushed African NOCs to ensure that Africa has a voice in the global discourse on energy transition, and agenda setting. The establishment of the African Energy Bank, a joint project of APPO and the Afreximbank, was also part of the agenda. Participants were briefed on all potential avenues to raise the $5bn required for the bank, including the need to raise capital from sovereign wealth funds and African institutional investors. More importantly, the Meeting urged NOCs to consider subscribing to the share capital of the bank to fast-track its establishment. Last but not least, several cooperation frameworks and agreements were sealed, especially when it comes to training and skills development. SONATRACH of Algeria entered into collaboration agreements on training with SNPC, GNPC (Ghana), SONAHYDROC (D.R. Congo), and SNG-Benin. On its side, SNPC and SONIDEP of Niger also entered into a cooperation agreement on the sharing of experience and expertise as well as capacity building. In order to grow cooperation between African NOCs, participants decided to establish the NOC Technical Experts Committee, while GEPetrol agreed to host the next NOCs Meeting in Malabo in September 2024.

Congo’s national oil company SNPC is hosting this week in Brazzaville the 5th Meeting of the CEOs of national oil companies (NOCs) of the African Petroleum Producers Organisation (APPO). The summit confirmed the growing commitment of African energy companies to work together and address Africa’s persistent energy crisis. “African NOCs are finding themselves at a crossroad with the dual responsibility of ensuring energy security for their respective markets while finding new sustainable models to develop their natural resources and fossil fuels,” said Rachid Hachichi, CEO of Algeria’s SONATRACH. “SONATRACH is determined to work with African state-owned oil companies to boost our industries and meet common development challenges,” he added. Echoing his comments, SNPC Director General Raoul Maixent Ominga called for a strong South-South energy cooperation between African NOCs to unlock investments into oil & gas, which remain the main engine of several economies on the continent. As the Republic of Congo and SNPC host the summit, Minister of Hydrocarbons Bruno Jean-Richard Itoua called for the establishment of a permanent secretariat of the NOCs forum to structure partnerships and cooperation around key APPO initiatives such as the creation of an African Energy Bank. To grow cooperation between companies, several MoUs were signed this morning between SONATRACH and Société Nationale des Hydrocarbures du Bénin  (SNH Benin), SNPC, Société Nationale Pétrolière de la République Démocratique du Congo (SONAHYDROC SA) and Ghana National Petroleum Corporation (GNPC), and between Société nigérienne de Pétrole (SONIDEP) and SNPC. The MoUs cover several key areas of cooperation, including onshore exploration & production, training and human capital development, and the sharing of best industry and operational practices.

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.

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

With the global energy transition underway, the 6th edition of the Egypt Petroleum Show (EGYPS) returns to Cairo from 13-15 February 2023 at the Egypt International Exhibition Center to propel the dialogue on energy security and climate action through collaborative industry efforts. Taking place under the patronage of His Excellency Abdel Fattah El Sisi, President of the Arab Republic of Egypt and with support of the Ministry of Petroleum and Mineral Resources, EGYPS 2023 brings an expanded agenda across its conferences with focused programmes covering Strategic, Technical, Finance and Investment in Energy, Equality in Energy, and Sustainability in Energy topics. More than 65-panel discussions, two thousand delegates, and over 260 speakers will convene, engage in dialogue, and identify solutions and strategies that will support the reshaping of global energy markets across the entire oil, gas and energy value chain. The two-day Strategic Conference features ministers, C-suite executives, and CEOs of the largest energy companies to share industry insights within the framework of 3 pillars: geopolitical and global economies, energy transition and energy solutions, and the next generation of oil, gas and energy ecosystems. The conference will address the growing importance of North Africa and the Mediterranean in supporting sustainable global energy supply and demand. Ministerial-led discussions include the participation of His Excellency Tarek El Molla, Minister of Petroleum and Mineral Resources, Arab Republic of Egypt;  Commissioner for Energy at the European Union, Kadri Simson; Chairman of the Palestinian Energy & Natural Resources Authority, Zafer Milhem; Equatorial Guinea’s Minister of Mines and Hydrocarbons and incoming OPEC 2023 President, Gabriel Mbaga Obiang Lima; OPEC Secretary General, Haitham Al Ghais; OAPEC Secretary General, Ali Sabt BenSabt; General Director of Observatoire Méditerranéen de l’Energie (OME), Dr. Houda Ben Jannet Allal; Chairman and CEO of Baker Hughes, Lorenzo Simonelli; CEO of Wintershall Dea, Mario Mehren; President and CEO of Axens, Jean Sentenac; CEO of AspenTech, Antonio Pietri; CEO of DESFA, Maria, Rita Galli; CEO of Saipem, Alessandro Puliti; CEO of Energean, Mathios Rigas; CEO of Capricorn Energy, Simon Thomson; CEO of Methanex, Rich Sumner; CEO of HELLENiQ ENERGY, Andreas Shiamishis; CEO of ThyssenKrupp, Dr. Cord Landsmann; Executive President, UEG and CEO of Kuwait Energy, Song Yu; Vice President of Global Exploration at ExxonMobil, John Ardill; Minister of Energy and Natural Resources of Republic of Djibouti, His Excellency Honourable Yonis Ali Guedi; Minister of Petroleum and Energies, Senegal, Her Excellency Dr Aissatou Sophie Gladima; CEO of Sonatrach, Toufik Hakkar; Secretary General of Union for the Mediterranean (UfM), Nasser Kamel; and President, Energy of Bechtel, Paul Marsden. The Finance and Investment in Energy Conference returns, bringing global investors, industry leaders, and financial and economic experts. The conference will address stimulating industry growth and transformation.  Panelists will examine forward-looking partnership models for the new energy investment landscape, balancing ESG with energy security and net-zero targets.  Plus, a look at the implications of the Russia-Ukraine conflict on oil and gas investment markets.  To date, confirmed speakers include President of MEDREG, Abdellatif Bardach; CEO and Head of E&P Business Unit at Hellenic Petroleum Upstream, Anastasios Vlassopoulos; CFO of Dragon Oil, Ahmad Ali BinObood; Executive Director and Chief Investment Officer of Africa Finance Corporation, Sameh Shenouda; Vice President and Group Chief Financial Officer of Elsewedy Electric Group, Sherif El Zeiny; Managing Director – Africa Energy Investments Corporation, African Petroleum Producers’ Organization (APPO), Zakaria Dosso; and Director of Exploration and Research Innovations, National Authority of Petroleum and Minerals (ANPM), Mateus da Costa. The Equality in Energy Conference hosts a full day of sessions defining the workforce and workplace of the future, championing equality, diversity and inclusion.  Organisational change management and inclusion and diversity specialists to lead the conversation on how the industry is creating equal, diverse and inclusive workforces and workplaces of the future to deliver sustainable low-carbon business models. To date, confirmed speakers include Chief Human Resources Officer of Thyssenkrupp Industrial Solutions AG, Walter Schön; Chief Sustainability Officer of Elsewedy Electric, Manal Hassan; Group Director of Energy Policy and International Affairs, Hellenic Petroleum, Liana Gouta; Executive Vice President, People, Communications & Transformation at Baker Hughes, Deanna Jones; Senior Vice President Oman, UAE, Iraq and North Africa at Worley, Amru Alabidi; Vice President, Human Resources of Apache, Brandy Jones; President, Automation Solutions, Middle East & Africa (MEA) at Emerson, Vidya Ramnath; and Vice President, Customer Satisfaction & Quality of Schneider Electric, Manal Messiha. With an ever-increasing focus on sustainability, EGYPS 2023 hosts its Sustainability in Energy Conference with an agenda set to address the rise of CSR, ESG and HSE across the industry.  Bringing together global energy leaders, sustainability and HSE experts to explore how oil and gas operators are integrating sustainability practices into their business models and workplaces ensuring a positive impact on the planet, their employees, and the communities in which they operate.  To date, confirmed speakers include Chief Sustainability Officer of Baker Hughes Allyson Book; Vice President of Environment, Health and Safety at Apache, Jessica Jackson; COO of Capricorn Energy, Paul Mayland; Group Senior Vice President Sector Lead Upstream, Midstream, LNG at Worley, Jim Lenton; and Vice President Socioeconomic Development at TotalEnergies, Laila Chemane-Chilemba. Spanning the entire oil, gas and energy value chain, the EGYPS Technical Conference has been created from a global industry-wide call for papers campaign featuring 19 technical categories and a thorough two-stage Technical Committee review, comprising over 80 industry specialists.  Across the three days of EGYPS, over 180 technical experts will be speaking in 45 sessions, delivering insights on the latest technical excellence across the world. Driving excellence across the industry, EGYPS 2023 will host two Awards Ceremonies.  Having received an exceptional mix of global and regional entries across eight categories, the Awards Juries selected 30 finalists through a two-stage evaluation process.  In celebrating both winners and finalists, the Sustainability in Energy Awards Ceremony will take place on Tuesday 14 February and the Equality in Energy Awards Ceremony on Wednesday 15 February 2023.  See the category finalists on www.egyps.com

As Nigeria’s economy is recovering at a faster-than-expected pace in 2021, the World Bank has revised its growth projects for the country upward. While the Bretton Woods institution initially predicted a GDP growth of 1.8% in 2021 and 2.1% in 2022, it now predicts it at 2.7% this year and 2.8% next year. The World Bank justifies this more optimistic forecast on the back of recent growth in services and manufacturing. “The growth of services was largely organic, albeit uneven: telecoms expanded robustly during the pandemic, while trade, transportation, and financial services also recovered,” it said in its Nigeria Development Update this month. However, the World Bank does note that the momentum of Nigeria’s reform agenda has waned and is currently undermining the country’s long-term growth prospects. As a result, its economy continues to grow at a slower pace than that of its neighbours. The report, titled “Time for Business Unusual,” notably says that the insufficient supply of foreign exchange (FX) issues, the unsustainable subsidy on premium motor spirit (PMS), burdensome trade restrictions, and the sizeable fiscal deficit financing by the Central Bank of Nigeria (CBN) are undermining the business environment, compounding underlying constraints on domestic revenue mobilization, foreign investment, human capital development, and the delivery of public services. Source: NBS The PMS subsidy remains a major challenge for the Nigerian economy, especially at a time when the country struggles to increase oil production. While oil prices are high, Nigeria has not fully benefited from them because of lower output, at the same time when PMS subsidies are soaring. The World Bank’s Development Update highlights urgent policy priorities that can be implemented over the next three to six months in four key areas: (1) eliminating the PMS subsidy while protecting poor and vulnerable households from any inflationary impact; (2) reducing inflation through a coordinated mix of exchange rate, trade, monetary and fiscal policies; (3) catalyzing private investment by enhancing foreign exchange management, easing trade restrictions, and fostering a better business environment; and (4) addressing fiscal pressures through enhanced domestic revenue mobilization and reducing the reliance on CBN deficit financing.

Fugro has been awarded a monitoring contract by Saipem that will see it deploying its InclinoCam® vision technology for the Greater Tortue-Ahmeyim gas project offshore Senegal and Mauritania. The project involves the development of 15 trillion cubic feet (Tcf) of gas discovered on the maritime border between Senegal and Mauritania via a 2.45 million tonnes per annum (mtpa) floating LNG (FLNG) unit in Phase 1 where first gas is expected in Q3 2023. Fugro will start executing its contract with Saipem from December this year and will install more than 190 piles over 6 months from a jack-up barge. “Fugro’s rapid precise positioning will provide actionable Geo-data on the monopile inclination to accelerate the project schedule and a touchless solution that is much safer than conventional monitoring,” the company said in a statement today. Full details on the Greater Tortue Ahmeyim (GTA) LNG project are available in the “Projects” section within your Hawilti+ research terminal.

Maersk Supply Service has just been awarded a contract by the Cameroon Oil Transportation Company (COTCO) for Phase 2 of the mooring system maintenance project on the Kome-Kribi 1 FSO (Kome-Kribi 1 Marine Terminal) offshore Douala. The marine terminal forms the last part of the 1,070km Chad-Cameroon Oil Export Pipeline that evacuates Chad’s oil to global markets.  Under the project, Maersk Supply Service will replace two link arms on a yoke mooring system on the Kome-Kribi 1 Marine Termina. This notably follows Phase 1 of the project, during which Maersk Supply Service had already carried out the design, engineering, procurement and installation of a temporary redundancy system. The contract comprises of the full project management and engineering and the two-month offshore operations, which are scheduled to commence in Q4 2022. They will require an I-class Subsea Support Vessel (SSV) from the Maersk Supply Service fleet, as well as two Anchor Handling Tug Supply (AHTS) vessels, which will also be employed for station keeping of the FSO. Despite being under-utilised, the Chad-Cameroon Pipeline continues to generate revenue for the State of Cameroon with transit fees standing at FCFA 11.59bn ($21m) between January and April 2021. Details on the Chad-Cameroon Petroleum Development and Pipeline Project are available in the “Projects” section within your Hawilti+ research terminal.

BOURBON has announced that it has been selected by Shell to provide fully integrated logistics solutions to support its upcoming deepwater offshore exploration campaigns in Namibia and Sao Tomé. Last month, Shell had selected the Valaris DS-10 drillship to drill in PEL 39 offshore Namibia and Block 6 in Sao Tomé. BOURBON’s package contract includes international freight forwarding, integrated logistics services and PSV (Platform Supply Vessel) services to support the drilling of both exploratory wells. The scope of work notably includes the international shipment and clearance of Shell’s and its subcontractors’ equipment from Houston to Walvis Bay; the management of the logistics base and associated services; and the provision of three Platform Supply Vessels: two PX105 and one P105. BOURBON will provide Integrated Logistics services through its local branch “Bourbon Logistics Namibia” with its strong and well-established local partner “Logistics Support Services” (LSS), the company explained in a statement this week.