African Energy Chamber endorses Cape VII Congress in Malabo

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Chibisi Ohakah, Abuja

The African Energy Chamber has announced its endorsement of the African Petroleum Producers Organisation [APPO] Cape VII Congress and Exhibition to be held in Malabo early in April.

The Equatorial Guinea’s Minister of Mines, Industry and Energy, Mr Gabriel Mbaga Obiang Lima, had dropped the hint of the Malabo Congress at a press conference during the just concluded Nigeria International Petroleum Summit, NIPS.

In a statement issued by the African Energy Chamber yesterday, the executive chairman, NJ Ayuk, said Africa need to speed up collaboration efforts and develop projects, and maximize across value chain. “The oil industry is proud to support African oil nations as we desperately need to speed up our collaboration efforts and develop joint projects to maximize efficiency across the value-chain. From transnational pipelines to shared gas development infrastructure, collaboration can play a considerable role in boosting hydrocarbons developments,” he stated.

According to him, APPO must do everything to improve the business climate by embracing better governance, limited government’s role in business activity, low taxes, and regulatory efficiency. He said the Malabo Congress will also be central in promoting, and advocating for, a stronger African content throughout the value chain.

He said APPO plans to achieve a 30% share of local content services provided to the African hydrocarbons industry by 2030, which requires harmonizing local content laws and regulations across oil jurisdictions. Local content is at the core of Africa’s energy industry future.

“Without increased dialogue between the oil industry and governments, the regulatory frameworks needed to build local capacities cannot be properly implemented,” NJ Ayuk said.

He congratulated APPO on making such strong commitment to the African content. According him, the oil industry is ready to share with APPO members best practices that have worked and delivered results and opportunities that improved the quality of life of everyday Africans through jobs.

Equatorial Guinea’s minister of mines, industry and Energy, Mr. Gabriel Mbaga Obiang Lima, said the event will be hosted by APPO under the auspices of President Obiang Nguema Mbasogo.  The summit will include a first-level meeting of oil ministers from all over Africa. The minister expressed delight that the congress and exhibition is coming to his country at a time when Africa is trying to boost its energy cooperation and promote infrastructural collaboration.

During the NIPS meeting in Nigeria last month, the President of APPO, who is Nigeria’s petroleum minister, Dr. Emmanuel Ibe Kachikwu, announced that the organization would mobilize up to $2 billion to promote such collaboration across African oil markets

The APPO Cape VII Congress & Exhibition is organized by Africa Oil & Power and is part of Equatorial Guinea’s Year of Energy 2019, which will also see the organization of the Gas Exporting Countries Forum’s 5th Gas Summit in Malabo next November. The African Energy Chamber is also a strategic partner of the APPO Cape VII.

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