Why Africa Oil Week is the place for major national roadshows in the oil & gas sphere

30 ministries are taking part this year, with over 20 presenting. This is the best chance to get insider knowledge on key opportunities, legislation changes, bidding rounds and more – direct from the companies and government intimately involved in leading them.

Here are some highlights of the National Roadshows and Bidding Rounds happening this year at Africa Oil Week:

Sierra Leone

Sierra Leone will be announcing details of a new bidding round at Africa Oil Week 2019.

Led by the Minister of Mineral Resources Hon. Foday Rado Yokie and Timothy Kabba, Director General of the Petroleum Commission of Sierra Leone, and supported by Jonathan Copus, CEO of Getech, the nation’s delegation will be announcing the opening of a fresh round of exploration rights.

Only eight wells have been drilled there since 1982, with the latest coming from Lukoil in 2013, following three wells drilled by Anadarko (now Occidental) in 2009, 2010 and 2012.

Cameroon

The world of African oil & gas legislation requires closer scrutiny as new changes emerge. Cameroon is one nation that has recently made changes to its Petroleum Code.

Jean-Jacques Koum, Advisor for SNH will present on how these changes will provide greater scope for operators, investors and the wider finance community to find new ground in Cameroon.

One of the key changes is tax holiday for oil and condensate development, and a further seven years for gas development. What’s more, production sharing contracts (PSCs), can be modified to allow companies to recuperate “exploration expenses” from production based on Cameroonian on or offshore acreages.

Somalia

The Horn of Africa is open for business. Somalia’s Petroleum Law and Revenue Sharing Agreement entered force in May 2019. The nation also unveiled its inaugural offshore licensing round.

Keynote speaker Hon. Abdirashid Mohamed Ahmed, Somali Minister of Petroleum and Mineral Resources, will lay out the future of Somali oil & gas for an international audience of financiers and operators this November.

“This year is a landmark year in the development of Somalia’s natural resources,” Minister Ahmed said. “The Ministry has worked successfully with the federal member states to create and equitable and transparent framework to develop natural resources for the greater good of Somalia.”

Nigeria

No continental hydrocarbons summit would be complete without representatives from Africa’s largest oil producer. Hon. Timipre Marlin Sylva and Melee Kolo Kyari, GMD, NNPC will be leading the Nigerian delegation, and Bala Wunti, Group General Manager, Corporate Planning and Strategy, NNPC, is on hand to give the latest updates and opportunities from Nigeria.

Nigeria continues to attract significant international attention. According to the NNPC, China is emerging as one of its key partners. Data from the NOC reveals that Chinese investments in Nigeria’s oil sector have reached $16bn.

Even so, the nation is aiming at 70% indigenous participation in oil & gas projects by 2027, so there’s a lot of interest in how Nigeria’s hydrocarbons sector will develop in the coming years.

Mozambique

Mozambique represents 23% of all future African capEx, making it the second largest recipient of investment anywhere in the continent going forward. In particular, natural gas projects are set to receive a major boost – up to a potential $50bn in capital expenditure.

Following on the from the success of significant large-scale projects like Anadarko’s $20bn Mozambique LNG project, players from across the globe are turning towards Mozambique with great interest. A proposed $5bn EXIM bank loan to fuel further development is only making the nation more attractive for investors.

Forming part of the Africa Oil Week 2019 National Roadshow programme is a look at Mozambique and the promise it holds for international players.

Two of the key players helping transform Mozambique’s oil & gas industry into something truly world class are speaking at Africa Oil Week this year. Chairman of the INP, the National Petroleum Institute, Carlos Zacharias will be there to discuss his country’s ongoing development, alongside NOC ENH’s CEO Omar Mithá.

23 nations presenting at Africa Oil Week

This is just a handful of the African countries showcasing their latest news, investment opportunities, and more at the continent’s leading summit.

Be sure to check out the Prospect Forum, which features additional governmental presentations, as well as our Ministerial Panels on the Tuesday and Wednesday on our Main Plenary Stage. To find out more, see the full Africa Oil Week agenda.

Content provided by Africa Oil Week

Related Content

Senegal: A West African Leader on the Rise (By Thomas Hedley, Field Editor)

By Thomas Hedley, Field Editor Although they are located 1,800Km from each other, Côte d'Ivoire and Senegal vie for the place of economic leader in West Africa, with a slight advantage for the former which, thanks to its leading economic capital Abidjan, was able to attract many investors, particularly French speaking. The population of Senegal reached 15.85 million people in 2018 compared to 25 million in Côte d'Ivoire. The same difference can be observed when loo

Apex Industries joins Equal by 30 Campaign and Commits to Equal Pay, Leadership and Opportunities for Women in the Energy Sector

The Equal by 30 Campaign aims to advance gender equality and ensure women have the same opportunities as men in the energy industry. The Equal by 30 campaign is a joint initiative of the Clean Energy, Education and Empowerment Initiative (C3E), which works to advance the participation of women in the clean energy transition and close the gender gap, and the International Energy Agency (IEA). The Equal by 30 campaign aims to have public and private sector commitments to work towards equal

Industry Downturn in Angola Presents Opportunities for Local Content and Marginal Players

With an economic recession expected at -1.4% by the International Monetary Fund (IMF) this year, Angola is expected to be less hit than its immediate neighbours or than the rest of African oil-producing countries. However, the crisis arrives at a time when sub-Saharan Africa’s second biggest oil producer was renewing with economic growth and betting on robust oil revenues to fund economic diversification efforts. To boost investment in oil & gas, the administration of President Jo&ati

Opportunity for Local Content in Angola’s Energy Sector

Africa Oil & Power (www.AfricaOilandPower.com), together with the African Energy Chamber, hosted a public webinar where industry leaders unpacked strategies to set Angola on its 2021 growth trajectory; The webinar was comprised of a brief presentation and 70-minute moderated panel discussion featuring upstream-, downstream- and service-related topics, followed by a Q&A session with members of the audience and press; As Africa’s second largest producer of oil, standing at 1,4 million barrel

Subscribe to our newsletter

Sign up for free newsletters and get more CNBC AFRICA delivered to your inbox

More from CNBC Africa

Central Bank of Nigeria cuts benchmark lending rate to 12.5%

Nigeria’s central bank cut its benchmark lending rate to 12.5% from 13.5%, the central bank governor said on Thursday.

How COVID-19 impacts access to sustainable energy in SSA

The World Bank says despite accelerated progress over the past decade, the world is expected to fall short of the SDG 7 target. In its just-released 2020 edition of the Energy Progress Report, the World Bank says under current policies, an estimated 8 per cent of the global population will not have access to electricity by 2030, and 90 per cent of them will be in sub-Saharan Africa. Makhtar Diop, the Vice President for Infrastructure at the World Bank joins CNBC Africa to discuss the findings of this report.

How Africa is hooking up the wilderness with the universe to help NASA in the space race.

Work at the Deep Earth Station is likely to see the biggest influx of people and equipment into Majtiesfontein since the Anglo-Boer War when it was home to British 12,000 troops.

Nigeria’s MPC cuts benchmark rate to 12.5%

In a surprise move, Nigeria Monetary Policy Committee cut its main policy rate by 100 basis points to 12.5 per cent and maintained other parameters constant in its third meeting of the year. Bismarck Rewane, CEO of Financial Derivatives and Muda Yusuf, Director-General of the Lagos Chamber of Commerce and Industry joined CNBC Africa’s Wole Famurewa for a post-analysis of this decision....

Partner Content

VIVO CEO IS A DYNAMIC LEADER FOR THIS INNOVATIVE GLOBAL BRAND

May 2020 -- Six months ago the vision for vivo in South Africa was just beginning to...

Building Africa’s Biggest Digital Classroom

An enduring lesson learnt throughout our 175-year existence is that, while things rapidly change around us, the things that truly matter don’t!...

Trending Now

VIVO CEO IS A DYNAMIC LEADER FOR THIS INNOVATIVE GLOBAL BRAND

May 2020 -- Six months ago the vision for vivo in South Africa was just beginning to...

Dubai gives the green light to reopen gyms, movie theaters and other non-essential businesses as lockdown lifting continues

Key Points: The Dubai government announced new measures to lift restrictions on businesses, allowing gyms, movie theaters, leisure...

India is set to report a sharp slowdown as the pandemic hits its economy — and things could get even worse

Key Points India is set to report growth numbers for the first three months of this year, and...

Zuckerberg defends Facebook from Trump’s crackdown and everything else you missed: CNBC After Hours

CNBC.com’s MacKenzie Sigalos brings you the day’s top business news headlines, and what to watch as the coronavirus pandemic continues to keep most of America on lockdown. On today’s show, Mark Zuckerberg tells CNBC why Facebook is not an “ar
- Advertisement -