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Now is Time to Make Energy Work for Africa
By Prince Arthur Eze
It is long past time that we made energy work for Africa. It is past time that Africa’s natural resources benefited Africans; that every African had access to electricity; and that the wealth created by oil and gas would lead to the sustainable development of African economies.
Certainly, much needs to be done to make these dreams a reality, and the continent’s top leaders in the energy industry will gather in Cape Town on October 9-11 in Africa Oil & Power 2019 to drive the conversation forward and #MakeEnergyWork.
Thankfully, success stories and opportunities abound.
The incredible story of Senegal, for example, stands as a roadmap on creating a transparent government; building the needed infrastructure to support future development; creating an attractive regulatory framework to bring in much-needed FID and new investment; and for using the oil and gas sector to spur new growth. The country, led by H.E. Macky Sall, the President of the Republic of Senegal, has seen tremendous growth in the last decade, consistently ranking in the top ten fastest-growing economies in the world. Government reforms, led by Sall, have improved Senegal’s image both domestically and abroad, encouraging a string of new investment in oil and gas, electricity, roads, fisheries and tourism.
The outlook for the country’s oil and gas sector, led by Sall, is bullish, with two of the world’s most-watched projects — SNE oilfield and the Great Tortue/Ahmeyim gas project — moving forward. Both are expected to start producing export revenues in the early 2020s.
H.E. Sall, winner of the prestigious “Africa Oil Man of the Year” award during the 2019 Africa Oil & Power conference, has certainly provided Africans with a strong example of leadership and cooperation. We are honored to recognize and support H.E. Sall’s achievements and continued efforts at Africa Oil & Power.
At Atlas-Oranto, we are proud to be leading pioneers in the sustainable development of Africa’s energy sector, ensuring growth in countries like South Sudan, where we are honored to operate Block B3; in Equatorial Guinea where we operate Block I and in Nigeria, where we operate OML109. In total, Atlas-Oranto is active in 11 countries in Africa and we are committed to working with the governments and communities of these countries to ensure our operations meet the highest standards of energy development. In Equatorial Guinea, for example, we are currently investing $350 million into the country’s gas monetization and backfill project.
At Atlas-Oranto — Africa’s largest privately-held, Africa-focused exploration and production group — we have faith in Africans, and we invest heavily in frontier markets so that the continent as a whole can continue to grow. We know first-hand what it takes to get new investments off the ground and how to grow small-to-medium enterprises. It takes boots on the ground, as well as understanding and coordination with our brothers and sisters around the world.
Indeed, with new investment opportunities on the horizon and a new drive to cooperate across borders, now is the time to spur this sustainable growth in Africa with energy as the catalyst.
At Africa Oil & Power 2019, many of these opportunities will be featured, including the ongoing licensing rounds in Equatorial Guinea and Angola; the launch of the South Sudan licensing round; and more.
For three days, over 1,200 of Africa’s foremost thought leaders, industry experts, private sector executives and government officials will gather together to discuss the incredible role of technology in Africa’s energy sector; the rise of renewables; the incredible upstream opportunities from South Africa to Senegal and the need for cooperation.
Let’s get busy and #MakeEnergyWork.
*Prince Eze is chairman, Atlas-Oranto — Africa’s largest privately-held, Africa-focused exploration and production group with interests across leading oil and gas economies in the continent, sent this piece from South Africa.