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OPEC President and Congolese Oil Minister Bruno Itoua to Lead Investment Discussions at MSGBC Oil, Gas & Power 2022 in Senegal

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  Energy Capital amp Power ECP https EnergyCapitalPower com is proud to announce that HE Bruno Itoua Minister of Hydrocarbons of the Republic of Congo and President of the Organization of Petroleum Exporting Countries OPEC has been confirmed as a speaker at MSGBC Oil Gas amp Power Conference amp Exhibition 2022 https bit ly 3a4fuRb now less than three weeks away HE Minister Itoua will join the respective ministers of Senegal HE Sophia Gladima Mauritania HE Abdessalam Ould Mohamed Salah Gambia Hon Abdoulie Jobe Guinea Bissau HE Dionisio Cabi and Equatorial Guinea HE Gabriel Mbaga Obiang Lima together with the Director General of the Sierra Leone Petroleum Directorate in the Office of the President Foday Mansaray addressing the delegates gathered at the ministerial forum that followed President HE Macky Sall s speech on September 1 in Dakar Since assuming the OPEC presidency in January from neighboring Angola HE Minister Itoua has led the Congo through a robust oil led economic recovery achieving solid 5 GDP growth while mitigating production declines to stabilize the country s production at 275 000 barrels per day Thanks to HE Minister Itoua s vision the 13 oil rich nations that make up OPEC which control 40 of the world s oil supply have been able to return demand to pre COVID 19 levels removing restrictions of 10 million barrels per day imposed during the 2020 recession and seeing global commodity prices hit a high of over 100 a barrel in April which represents a seven year high HE Minister Itoua s leadership role as Minister of Hydrocarbons of the Democratic Republic of the Congo gives him a wealth of experience to share with the emerging energy mega players of the MSGBC basin With a mature extractive sector dating back decades Congo Brazzaville has 2 9 billion barrels of crude oil and 10 trillion cubic feet tcf of natural gas reserves lauded for its private sector involvement by companies like Perenco Eni and TotalEnergies with upstream oil representing 50 of national GDP 70 of government revenues and 80 of net exports By contrast the MSGBC nations boast 50 tcf of natural gas 9 billion barrels of oil equivalent between them but remain at the start of world class production levels 9 billion in oil projects and gas that will come into operation next year MSGBC Oil Gas amp Power 2022 host nation Senegal has 500 000 barrels of oil in Sangomar and Gambia has potentially triple that with discoveries by Australian mega company FAR All MSGBC nations are ramping up exploration similarly to the Congo with license rounds ranging from five to 27 blocks hitting the market this year In short HE Minister Itoua s presence at the MSGBC ministerial forum could be a game changer contributing unprecedented strategic insights to forge strong public private partnerships and ties with a new slate of multinationals to join a set of companies international oil companies IOCs and investors who diversify rapidly to the region from Africa Europe Asia America Australia and the Middle East Currently active in the basin are companies such as bp Woodside Kosmos FAR Petronas PetroNor and Tullow Oil however the Congo triad of Perenco Eni and TotalEnergies represent some of the largest IOC investors operating in Africa responsible for many of the largest hydrocarbon developments in West Africa in recent years The Director of the ECP International Conference Sandra Sheikh states that HE Bruno Itoua brings to the table unique global and national policy experiences in shaping sustainable hydrocarbon sectors for social and economic benefit driving development His insights at the MSGBC Oil Gas amp Power 2022 Ministerial Panel this September are particularly welcome and appreciated recognizing the basin s nascent but thriving industry with billions of dollars of investment already underway expected to be double in the decade For more information on MSGBC Oil Gas amp Power 2022 which takes place in less than a month in the Senegalese capital Dakar please visit https MSGBCPOilGasAndPower com
OPEC President and Congolese Oil Minister Bruno Itoua to Lead Investment Discussions at MSGBC Oil, Gas & Power 2022 in Senegal

1 Energy Capital & Power (ECP) (https://EnergyCapitalPower.com) is proud to announce that HE Bruno Itoua, Minister of Hydrocarbons of the Republic of Congo and President of the Organization of Petroleum Exporting Countries (OPEC), has been confirmed as a speaker at MSGBC Oil, Gas & Power Conference & Exhibition 2022 (https://bit.ly/3a4fuRb), now less than three weeks away.

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2 HE Minister Itoua will join the respective ministers of Senegal (HE Sophia Gladima), Mauritania (HE Abdessalam Ould Mohamed Salah), Gambia (Hon. Abdoulie Jobe), Guinea-Bissau (HE Dionisio Cabi) and Equatorial Guinea (HE Gabriel Mbaga Obiang Lima) together with the Director General of the Sierra Leone Petroleum Directorate in the Office of the President, Foday Mansaray, addressing the delegates gathered at the ministerial forum that followed President HE Macky Sall’s speech on September 1 in Dakar.

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3 Since assuming the OPEC presidency in January from neighboring Angola, HE Minister Itoua has led the Congo through a robust oil-led economic recovery, achieving solid 5% GDP growth while mitigating production declines.

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4 to stabilize the country’s production at 275,000 barrels per day.

5 Thanks to HE Minister Itoua’s vision, the 13 oil-rich nations that make up OPEC, which control 40% of the world’s oil supply, have been able to return demand to pre-COVID-19 levels, removing restrictions of 10 million barrels per day imposed.

6 during the 2020 recession and seeing global commodity prices hit a high of over $100 a barrel in April, which represents a seven-year high.

7 HE Minister Itoua’s leadership role as Minister of Hydrocarbons of the Democratic Republic of the Congo gives him a wealth of experience to share with the emerging energy mega-players of the MSGBC basin.

8 With a mature extractive sector dating back decades, Congo-Brazzaville has 2.9 billion barrels of crude oil and 10 trillion cubic feet (tcf) of natural gas reserves, lauded for its private-sector involvement by companies like Perenco.

9 , Eni and TotalEnergies, with upstream oil representing 50% of national GDP, 70% of government revenues and 80% of net exports.

10 By contrast, the MSGBC nations boast 50 tcf of natural gas, 9 billion barrels of oil equivalent between them, but remain at the start of world-class production levels, $9 billion in oil projects, and gas that will come into operation next year.

11 MSGBC Oil, Gas & Power 2022 host nation Senegal has 500,000 barrels of oil in Sangomar and Gambia has potentially triple that with discoveries by Australian mega-company FAR.

12 All MSGBC nations are ramping up exploration similarly to the Congo with license rounds ranging from five to 27 blocks hitting the market this year.

13 In short, HE Minister Itoua’s presence at the MSGBC ministerial forum could be a game changer, contributing unprecedented strategic insights to forge strong public-private partnerships and ties with a new slate of multinationals to join a set of companies.

14 international oil companies (IOCs) and investors who diversify rapidly.

15 to the region from Africa, Europe, Asia, America, Australia and the Middle East. Currently active in the basin are companies such as bp, Woodside, Kosmos, FAR, Petronas, PetroNor and Tullow Oil, however the Congo triad of Perenco, Eni and TotalEnergies represent some of the largest IOC investors operating in Africa, responsible for many of the largest hydrocarbon developments in West Africa in recent years.

16 The Director of the ECP International Conference, Sandra Sheikh, states that, “HE Bruno Itoua brings to the table unique global and national policy experiences in shaping sustainable hydrocarbon sectors for social and economic benefit, driving development.

17 His insights at the MSGBC Oil, Gas & Power 2022 Ministerial Panel this September are particularly welcome and appreciated, recognizing the basin’s nascent but thriving industry with billions of dollars of investment already underway, expected to be double in the decade.” For more information on MSGBC Oil, Gas & Power 2022, which takes place in less than a month in the Senegalese capital Dakar, please visit https://MSGBCPOilGasAndPower.com.

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