The upcoming African Vitality Week (AEW): Spend money on African Vitality convention – Africa’s premier occasion for the vitality sector, happening from November 4-8 in Cape City – will host a technical hub, providing priceless insights into the way forward for vitality together with groundbreaking tasks and new alternatives for collaboration and funding.
Happening throughout the convention from November 5-7, the technical hub invitations business consultants, main engineers and expertise innovators to current cutting-edge options and share greatest practices to foster information change and drive the business ahead. The technical hub will characteristic high-level displays and in-depth discussions on a spread of subjects together with oil and fuel belongings, modern vitality applied sciences and the newest developments within the vitality sector.
Africa’s formidable plans for pure fuel manufacturing, financial diversification and job creation, significantly for girls and younger folks, are set to be outlined throughout the technical hub. Africa continues to carry resource-rich basins with billions of untapped confirmed oil and fuel reserves, with exploration hotspots cropping up throughout the southern, jap and western corners of the continent.
With the arrival of a FPSO vessel to the flagship Senegalese-Mauritanian Better Tortue Ahmeyim LNG venture – which boasts the deepest subsea infrastructure in Africa – in June this 12 months, part one of many improvement is anticipated to supply round 2.3 million tons of pure fuel yearly for greater than 20 years. In East Africa, vitality large TotalEnergies introduced its hopes in February to renew building on its Mozambique LNG venture by mid-2024 whereas in Ivory Coast, vitality supermajor is poised to take a position $10 billion in direction of the event of the offshore zero-emission Baleine venture. These established markets will function a blueprint to a few of the continent’s rising markets, together with Namibia and Senegal, whereas showcasing the capability to spearhead technical improvements on the again of upstream improvement.
A concentrate on carbon seize, utilization and storage (CCUS) expertise throughout the technical hubs may also showcase the important thing function it’s going to fulfill for Africa’s oil and fuel business within the years to come back. Incorporating CCUS expertise into the sport plan for the way forward for Africa’s oil and fuel business is poised to bolster the continent’s efforts to eradicate vitality poverty whereas fostering socioeconomic development throughout the continent.
Regardless of providing a wealth of sources, a scarcity of ample refining infrastructure has resulted in import-heavy economies continent-wide. This pattern, nonetheless, is ready to reverse as latest oil and fuel discoveries encourage the event of recent refining crops and the upgrading of present infrastructure. Efforts to bolster downstream infrastructure are already being seen throughout the continent. Angola is establishing three new refining services whereas upgrading its present Luanda refinery. Upon completion, these tasks will carry the nation’s refining capability to over 425,000 barrels per day (bpd). Africa’s largest refinery – the 650,000 bpd Dangote facility – began operations in 2023, and in 2024, has secured a variety of provide offers with firms akin to TotalEnergies.
On the similar time, a variety of pipeline tasks are below developments in Africa that goal to strengthen regional distribution. These embrace Nigeria’s $2.8 billion Ajaokuta–Kaduna–Kano fuel pipeline – set for completion in 2024 –; the 7,000 km Nigeria-Morocco Fuel Pipeline – which expects FID in 2024 –; and lots of extra. As such, the technical hubs will unite stakeholders throughout Africa’s downstream sector to debate the continent’s most urgent challenges in addition to the alternatives for international traders with the goal of maximizing vitality safety all through the continent.
Moreover, the technical hubs will provide perception into alternatives for service firms to help Africa’s oil and fuel industries. Actions akin to engineering and procurement, effectively building, drilling, seismic knowledge and subsea vessels, and rather more, provide significant openings for small- and medium-sized enterprises to enter the market and propel the business ahead. Service firms additionally provide an opportune probability for the sector to advertise native content material improvement, financial diversification and expertise switch, paving the way in which for industrialization, useful resource administration and the eradication of vitality poverty throughout Africa.
Africa stays one of the engaging locations for funding. With a good portion of the African inhabitants nonetheless missing entry to electrical energy, the function of worldwide oil firms and nationwide oil firms is ready to ship ripe alternatives for technical service suppliers to drive vitality safety and socioeconomic improvement.
NJ Ayuk, Government Chairman, African Vitality Chamber
