Obongemem Ekperikpe Ekpo
Nigeria’s Minister of State for Petroleum Resources (Gas) Obongemem Ekperikpe Ekpo is one of the high-profile personalities billed to speak at the African Energy Week (AEW): Invest in African Energy conference this November, the African Energy Chamber has said.
The release said Ekpo would outline opportunities for foreign investments in the country’s gas value chain.
With plans to increase production to 5.5 billion cubic feet per day by 2030, Nigeria is inviting investors to invest in the country’s 200 trillion cubic feet of proven gas resources.
“AEW 2024 will facilitate this engagement while providing insight into ongoing projects, planned developments and strategies for scaling-up regional energy security through Nigerian natural gas,” said the release.
Various developments have taken off in Nigeria in line with 2030 production targets. Supermajor TotalEnergies started production at the Akpo West field in February 2024. The project added 14,000 barrels of condensate per day and is expected to produce an additional four million cubic meters of gas by 2028.
A shareholder’s agreement was signed for the development of a 1.8 billion tons per annum FLNG project – the country’s first floating facility – in December 2023, with FID expected this year while energy major Shell plans to start production at the H1 and HA shallow-water development by 2027 and 2029. Shell is also planning to extend the life of the Bonga FPSO by 15 years to handle increased production.
Upstream investments are integral for production increases, and Nigeria is being bullish in its efforts to attract foreign investment towards burgeoning gas projects. The country plans to launch a licensing round in 2024 to bolster investment in upstream gas and has also issued a called for investments in this area.
Meanwhile, the government is set to introduce incentives to attract oil and gas investments, including replacing signature bonuses; addressing the issuing of licenses; low contract costs and eliminating obstacles in relation to production agreements.
AEW is the platform of choice for project operators, financiers, technology providers and governments, and has emerged as the official place to sign deals in African energy.
AEW 2024 takes place under a mandate to make energy poverty history by 2030, and promotes investment across the entire African energy value chain.
The conference offers a diverse lineup of panel discussions, presentations, investor-briefings and project profiles, all of which aim to connect capital and technology with African projects.
Visit www.AECWeek.com to secure your place at the largest energy event to take place on the continent.