- Africa Oil Week will serve as a platform to fuel future collaborations and partnerships between UAE and Africa.
- This collaborations and partnerships are set to result in additional high-value deals in the energy sector.
- The event has witnessed attendance from more than 35 heads of government departments from the African continent and the Middle East
With the United Arab Emirates’ investments in Africa reaching $5.64 billion in recent years, Africa Oil Week (AOW) will serve as a platform to fuel future collaborations and partnerships between UAE and Africa.
This collaborations and partnerships are set to result in additional high-value deals in the energy sector.
The 2021 AOW has taken beyond the borders of the African continent and hosted in Dubai for the first time since its inception.
The four-day event will conclude on 11th November. AOW will be held in its original destination of Cape Town next year.
The event has witnessed attendance from more than 35 heads of government departments from the African continent and the Middle East and high-level delegations, including executives from some of the biggest global oil and gas companies.
Also Read: What to expect as much-awaited Africa Oil Week (AOW) kicks off in Dubai
In a keynote address on the event’s second day, H.E. Suhail Al Mazrouei, Minister of Energy and Infrastructure in the UAE, emphasised the UAE’s long-standing ties with African nations and highlighted the country’s position as an emerging global financial hub.
Energy transition
Over the next couple of days, AOW will include a power-packed agenda with discussions on key topics like energy transition and energy access, policies and regulations in the market, green economy, ESG practices in the sector, onshore exploration, the role of digitalisation and technology in Africa’s future energy mix, opportunities, and challenges in the sector in the post-pandemic world, achieving a clean and competitive energy future for the continent, among others.
Also speaking on the event’s day two, Wamkele Keabetswe Mene who is the Secretary-General, Africa Continental Free Trade Area (AfCFTA) said Dubai has gained a global financial and economic hub with a rich oil and gas history.
He noted that Africa needs to utilise the nation’s expertise to help her in united drive to eradicate energy poverty as part of the African Union 2063 and boost trade in the energy sector.
“We are certain that our talks with heads of governments from Africa and the UAE will facilitate the development of the local market and improve Africa’s competitiveness both in its markets and globally, while also attracting quality foreign direct investment,” said Keabetswe.
Nicolas Terraz, President Exploration and Production and member of the Executive Committee of TotalEnergies, who attended the event with a delegation of 40 officials, said Total Energies which is one of Africa’s biggest oil producers remains committed to exploration in Africa.
Besides discussing the impact of digitalisation in the oil and gas sector, the event serves as an ideal platform for experts to design an economic blueprint for developing the African energy sector.
It will also help governments and key organisations formulate their approach towards achieving a clean energy future for the continent, thus enabling the transition to a green economy.
Platform for exchange and investments
Several National Energy Showcases were held as part of the event’s agenda to attract investments into the African energy sector, where countries like Uganda, Kenya, Gabon, Mozambique, Djibouti, Eritrea, Mauritania, Senegal, and The Gambia showcased investment opportunities in their respective countries, represented by their governments.
Over 24 National Energy Showcases will be hosted throughout the week, providing a dedicated investment platform for Ministers, NOCs, Utilities and Regulators to broker deals and meet new partners, where government stakeholders will present an in-depth analysis of their national energy strategies, including prospective asset and investment opportunities, geological data and analysis, bidding rounds and open tenders, fiscal and operating policies.
