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Establishment of National Energy Companies: Role of National Oil Companies (NOCs) Highlighted at African Energy Week NOC Summit

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The NOC Summit will offer a genuine discussion on the challenges, solutions and key opportunities for NOCs in Africa, led by some of the continent’s most esteemed organizations.

JOHANNESBURG, South Africa, October 5, 2021 / APO Group / –

Africa’s premier energy event, Africa Energy Week (AEW) 2021, features an interactive networking conference and four-day exhibition where African and global stakeholders come together to discuss the future of the African energy industry. On the second day of AEW 2021, to be held in Cape Town from November 9-12, organizers will host a National Oil Company (NOC) Collaborative Summit, during which top African NOCs from across the continent will come together to discuss the role of the NOCs. in Africa’s energy future.

Led by NOCs including SFF of South Africa, Gabon Oil Company, NNPC of Nigeria, Sonangol of Angola, Ghana National Petroleum Corporation, Petrosen of Senegal, NAMCOR of Namibia, UNOC from Uganda, SUDAPET from Sudan and the Société Nationale des Pétroles du Congo, the CNO summit will be crucial. to meet both the challenges and the opportunities encountered by the NOCs in the energy sector in Africa.

One of the main topics that will be addressed at the NOC Summit will be how the NOCs have come and can continue to reform themselves in order to strengthen their capacities and ensure that they play an active role in leading the transition. energy of Africa. The reforms will not only ensure that the NOCs become catalysts for the growth of the energy sector, but will also help them transform into national energy companies, with key factors of diversification and improvement of the portfolio.

Already, some NOCs have made significant progress in reform, the most notable being the NNPC. Nigeria’s new Petroleum Industry Bill has divided the NOC into three separate entities – the Nigeria Petroleum Assets Management Company, the National Petroleum Company and the Nigeria Petroleum Liability Management Company, which will be supported by a regulator and a funds to oversee the distribution of capital. Likewise, the Senegalese company Petrosen underwent a restructuring in 2019 during which the NOC was split into three distinct entities: Petrosen Holding, Petrosen Aval and Petrosen E&P. During AEW 2021, the NOCs will engage in a dialogue on the success of the reforms, proposing key solutions and ideas.

The NOC summit also aims to address the role of NOCs in acquiring assets in the upstream sector as CIOs divest from major African assets. The NOCs have a role to play in seizing the opportunities created by the exits of the CIOs. With the aim of creating stronger and more resilient African NOCs, the NOC Summit will focus on strengthening intra-NOC collaboration.

“With many IOCs moving away from hydrocarbon assets, a unique opportunity has presented itself to NOCs to rise to the challenge by diversifying their portfolios, expanding exploration and production, and playing a role that is both proactive and leader in the advancement of the energy sector. African NOCs are becoming increasingly important in the continent’s energy future, and the NOCs summit at AEW 2021 in Cape Town will highlight the role they play in attracting investment, boosting frontier exploration and increasing capacity in order to create a competitive, sustainable, and highly qualified energy sector environment. The NOC Summit will provide a genuine discussion on the challenges, solutions and key opportunities for NOCs in Africa, led by some of the continent’s most esteemed organizations, ”said Leoncio Amada Nze Nlang, President of the African Chamber of the United Nations. energy (AEC) in the CEMAC region.

Finally, as many countries step up their natural gas developments following significant discoveries and energy transition, the summit will lead to an in-depth discussion on the role of NOCs in accelerating gas monetization, highlighting the emphasis on capacity building and private sector collaboration. NOCs are a bridge between government and the private sector and have a role to play in improving collaboration at both national and regional level. By creating an enabling environment for private sector participants and providing partnership opportunities across the energy sector value chain, NOCs can accelerate the growth of the energy sector, the transition to more energy sources. clean and large-scale socio-economic development.

AEW 2021, in partnership with the South African Department of Mineral Resources and Energy DMRE, is the AEC’s annual conference, exhibition and networking event. AEW 2021 brings together African energy players with international investors and partners to drive industry growth and development and promote Africa as a destination for energy investments.

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