Ibrahim will address investors, energy companies, and African nations at AEW, promoting investment in African oil and gas resources while advocating for their sustainable development.
APPO, a group of 18 African oil-producing countries, has a long history of supporting responsible oil and gas exploration and production. The organization sees this sector as a key driver of economic growth and energy security for Africa.
APPO recently published a study on the future of the African oil and gas industry in light of the global shift towards renewable energy. The study identified challenges in financing, technology, and markets.
In response, APPO partnered with Afreximbank to establish the Africa Energy Bank (AEB). This new bank, expected to begin operations in July 2024, will provide much-needed financing for African oil and gas projects, reducing reliance on foreign investment.
APPO also works to empower African companies to play a larger role in oil and gas development. The organization signed a memorandum of understanding (MoU) with the African Energy Chamber (AEC) in January 2024. This partnership aims to boost intra-African energy trade, attract technology investment, and create a more attractive environment for investors.
Ibrahim’s participation in AEW signals continued support for exploration and production of African oil and gas resources. Several major projects are nearing completion, including the Greater Tortue Ahmeyim (GTA) LNG hub in Mauritania and Senegal, and the Sangomar Offshore Oil Project in Senegal. These developments will help meet Africa’s growing energy needs and contribute to economic growth.
NJ Ayuk, Executive Chairman of the AEC, welcomed APPO’s involvement in AEW, stating that “APPO is a necessary player in Africa’s energy sector.” He praised the organization’s “commitment to harnessing Africa’s oil and gas resources in a just and sustainable manner.”
ABJ/APA