Africa-Press – Angola. Angola joins a group of African hydrocarbon producers that, in mid-May, will meet in Luanda, at the 8th African Oil Exhibition Congress, to adopt a common approach on how to take advantage of the continent’s moment of supply shortages in the international market.
The Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, leads the discussion, alongside his counterparts in the hydrocarbon sector from South Africa, Côte d’Ivoire, Ghana and Niger, respectively, Samson Gwede Mantashe, Thomas Camara, Matthew Prempeh and Samson Manta-she, as well as the secretary general of the African Oil Producers Association (OAPP), Omar Ibrahim.
Debates revolve around the search for ways to unlock Africa’s oil and gas potential, as an imperative against the backdrop of the conflict in Ukraine and the oil, gas and gas supply crisis.
These developments, African producers consider, make Europe’s dependence on Russian energy unsustainable, creating a great opportunity for Africa to position itself as a crucial option to increase supply to global energy markets, despite the persistence of challenges linked to the difficulty of increasing production suddenly, due to the deficit in infrastructure, finance and technology.
Countries with large natural gas resources, such as Angola, Algeria, Libya and Nigeria, have limited networks of pipelines, refineries, jetties, terminals and ports, and encouraging foreign investment is often hampered by risk factors, including instability politics, local insecurity, and financial institutions that shift investments from fossil fuels to renewables.
Also, securing the latest technology to facilitate the development of local content has proven to be cost prohibitive, given the reliance on foreign intellectual property and the ongoing brain drain of local human capital.
The congress, organized by the OAPP and the Angolan Government, has the participation of specialists from the hydrocarbon industry, including representatives of national oil companies, in addition to Angola, Cameroon, Chad, Ivory Coast, DRC, Nigeria and Equatorial Guinea.
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