Qatar and UAE nations now eye investment in Africa’s energy sector

Qatar and UAE nations now eye investment in Africa’s energy sector

doha – Qatar and other UAE countries are now eyeing investment in Africa’s energy sector. This was revealed ahead of an Invest Africa Energy Dubai event scheduled for next month.

Backed by the best collaborations between UAE and African stakeholders in terms of investment and industry knowledge, the expo is expected to usher in a new era of growth in Africa’s energy sector.

As Africa maximizes its development and exploitation of its estimated 125.3 billion barrels of crude oil and 620 trillion cubic feet of natural gas reserves to address energy poverty and drive socioeconomic development, the UAE, one of the world’s largest producers and investors in hydrocarbons One, is an ideal partner for maximizing industrial growth on the African continent.

Emirati companies – including the Abu Dhabi National Oil Company (ADNOC), Petrofac and the Emirates National Oil Company Group (ENOC) – have played a vital role in stabilizing the entire oil and gas value chain in Africa.

For example, ADNOC is strengthening its downstream operations in Africa, recently launching supertankers to boost fuel storage capacity in Angola and the Democratic Republic of Congo.

The company also recently acquired a 50% stake in TotalEnergies’ retail business in Egypt, while ENOC is building oil receiving and storage infrastructure for Tanzania to position the country as an oil hub for East and Central Africa.

Petrofac is also doing extensive work for Tullow Oil at the Banda and Tiof fields in Mauritania, while extensive investment in the UAE has boosted upstream activity in Africa.

Africa offers enormous opportunities for Middle Eastern companies seeking to expand in the continent’s burgeoning oil and gas industry. Invest in Africa Energy The Dubai reception will showcase these opportunities, maximizing existing partnerships while contributing to the strengthening of African oil and gas. New partnerships pave the way for exploration, production, development and monetization capabilities.

At the same time, a lack of adequate funding and infrastructure is the biggest constraint facing the African hydrocarbons industry. Middle Eastern investment in African oil and gas projects is significant in helping the continent meet its growing energy needs.

When it comes to renewable energy, private and public sector institutions in the Middle East are also at the forefront of driving investment and project implementation across Africa.

Companies such as AMEA Power, Masdar, the Abu Dhabi Development Foundation and the International Renewable Energy Agency continue to play a leading role in accelerating the adoption of solar, wind and green hydrogen in Africa.

In this regard, Africa Energy Investment Event in Dubai is the best platform to highlight, discuss Africa’s renewable energy potential, and negotiate and sign investment and cooperation agreements.

As Africa seeks to maximize its entire energy base for a just and inclusive energy transition, Dubai is the best place for African countries to learn from best practices.

“The African Energy Chamber is proud to expand the Africa Energy Investing Event 2023 to Dubai. We believe Africa can learn a lot from Dubai on how the continent can best use its oil and gas resources to make energy poverty history and economic Aspiration for growth. The UAE and the Middle East have emerged as global powerhouses on the back of optimizing oil and gas extraction while diversifying their energy mix through renewables. We believe the Middle East has a strong role in oil and gas exploration, production, asset development and maintenance, and currency Investment and technological expertise in globalization can take African industries and economies to higher levels,” said AEC Executive Chairman NJ Ayuk.

Galloway Online