The Energy Republic February Edition 2022

TOP STORY
Farouk said the African government needs to
put in place energy infrastructures that cut
across the continent such as pipelines for oil
and gas, refineries, and petrochemicals to
serve sub-regions or a cluster of countries.
Speaking on technology, he said, "Our oil and
gas industry is unarguably the most dependent
on foreign technology. We have generally
bought into the misleading belief of technology
transfer, that the developed world will transfer
technology to us. While it is possible to have
technology transferred, it is always the archaic
technology that is transferred while the latest
is kept by those who developed it, until a better
one is developed.
“
Africa has some of the
best scientists, technologists,
and innovators in Europe
and the United States.
Dr. Omar Farouk Ibrahim, APPO's Secretary-General
investment decision (FID), declining
production, regulatory risks stands as a major
challenge and contributes to lack of investor’s
confidence in the region.
Given the challenges, he said, innovative
inventions and investments will help translate
Africa’s abundant resources into shared wealth
and sustain its economic development.
They excel when they go there. But when they
are here, they are unable to excel.
"The challenge is to create the enabling
environment for these people to excel in Africa.
We also need to create the enabling
environment for Europeans and Americans to
come and do their innovations here.
"The third challenge is the financing of energy
projects. God has endowed us with natural
resources and human resources. We need to
create an enabling environment that will
support the growth of knowledge, technology,
and investment," Farouk added.
Nicolas Odinuwe, Chairman of Petroleum
Technology Association of Nigeria
Highlighting the challenges hindering the
growth opportunities in Africa’s oil and gas
industry, The Chairman of Petroleum
Technology Association of Nigeria, Nicolas
Odinuwe said that the issues of insecurity,
political instability, aging, insufficient
infrastructure, and know-how, declining
international investment leading to a small
number of new projects, and lack of final
Odinuwe, stated that creating an enabling
environment for the private sector is pivotal in
unlocking new opportunities in the African oil
and gas industry.
He called on governments across Africa,
especially the African oil and gas producing
countries to provide necessary incentives to
attract private-sector investments across the
entire value chain.
He said, "This will trigger a massive economic
revolution, human capital development and
deepen local content across Africa.
“The value chain in the oil, gas and energy
industry is such that if properly harnessed, will
transform the economy of the entire
continent".
Odinuwe pointed out that the key enabler is to
create a collaborative ecosystem between the
local industry stakeholders within the Subregion
alongside the Africa continental free
trade Area (AfCFTA).
PETAN C h airman said that the f u ll
implementation of the AfCFTA will increase
local content development, expand economic
activities across Africa, and enhance crosscontinental
trade in a single market for people,
goods, and services.
However, he noted that the African Continental
Free Trade Area Agreement (AfCFTA) will boost
Africa’s industrialization and productivity in
manufacturing, capacity building.
He explained, “African market presents huge
opportunities in a range of sectors, including
the oil and gas and there are still several
underutilized assets in West Africa.
“Improved financial and ICT services will
increase digitization, productivity, and ease of
transacting business across wider markets,
encouraging the integration of supply chains,
business sustainability, and entrepreneurship.
“It’s a good time to invest in Africa, especially in
our transition fuel, the natural gas, which
reduces emissions and we need to be exploring
strategic collaboration with local and
international companies to help us achieve
more desired results.
“We are glad about some of the discoveries
made over the past decade in Africa and even
more proud that Nigeria is leading in key oil and
natural gas projects in the sub-region despite
the challenges. There are similar scenarios in
Mozambique, Equatorial Guinea, Mauritania,
Tanzania.
"PETAN has positioned itself to lead Africa in
local content development and explore
opportunities under the African Continental
Free Trade Area Agreement.”
According to him,
“
PETAN’s investment
interest in Africa is in
technical training and
human capacity
development.
“We are exploring strategic collaboration with
local and international companies to help us
achieve more desired results.
“We are made up of dedicated and patriotic
entrepreneurs, who reside in a difficult business
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