Focused on attracting foreign investment in their upstream markets, African NOCs are taking full advantage of AEW 2021. UNOC CEO Proscovia Nabbanja and Sudapet Director General Aiman Aboujoukh have confirmed their attendance and participation at AEW 2021 in Cape Town.
East African producers are coming to African Energy Week (AEW) 2021 in Cape Town, focused on promoting the region as a premier investment destination for upstream exploration. Among these East African representatives are Uganda and Sudan, with Uganda National Oil Company (UNOC) CEO, Proscovia Nabbanja; and Sudapet Director General Aiman Aboujoukh both confirming their participation at AEW 2021 on the 9th-12th of November in Cape Town.
As the National Oil Company (NOC) of Uganda, the UNOC is tasked with managing the commercial interests in the petroleum sector, ensuring that resource exploitation translates into tangible benefits for the Ugandan population. Under the leadership of Nabbanja, the organization has been a driving force of the country’s hydrocarbon success, not only managing state participation in production licenses, but investigating, incentivizing, and proposing new petroleum exploration ventures. With the discovery of significant oil and gas resources – estimated at over 6.5 billion barrels of oil reserves, and 0.5 trillion cubic feet of natural gas – the country is aggressively pursuing enhanced upstream investment and development, and the UNOC is driving it.
At AEW 2021 in Cape Town, Nabbanja is expected to engage with stakeholders, promoting Ugandan upstream opportunities, and emphasizing key projects in the country. Projects such as the 230,000 barrels per day Lake Albert development and the East African Crude Oil Pipeline (EACOP) indicate the potential of the market, and Nabbanja is focused on promoting Uganda in Cape Town.
“Uganda is keen on making a major play for investment at AEW 2021 in November and beyond and with Nabbanja both representing and leading the UNOC in Cape Town, the country’s upstream opportunities will be on show for both African and global investors. Projects such as the EACOP will not only be significant for Uganda, but the entire East African region, and AEW 2021 is committed to promoting lucrative opportunities such as these,” stated Tomás Gerbasio, Conference Director for AEW 2021.
Another promising frontier is Sudan. There is a sense of renewed optimism in the country’s oil sector, that historical successes in exploration that were abandoned due to sanctions will be revisited by international players as the country emerges from years of international sanctions. The General Director of Sudapet, the Sudan National Petroleum Corporation, Mr Aboujoukh is expected to highlight upstream opportunities in Sudan. There has been a renewed push by the government to attract foreign investment in Sudan’s upstream sector, with frontier exploration at the forefront of the national agenda.
What makes Sudan a unique destination, is that the country has adequate refining and export infrastructure, and is targeting upstream development to significantly increase domestic production and reduce crude oil imports. Accordingly, Aboujoukh will engage with a range of stakeholders at AEW 2021 in Cape Town, providing insight into upcoming upstream opportunities in a move to rapidly increase investment.
“Sudan is well positioned to be an even bigger hydrocarbon producer and exporter, and with enhanced investment directed into the emerging upstream market, the country is well on its way to be an African oil major. Sudapet is focused on attracting significant levels of foreign capital into the sector, and with the recent lifting of sanctions by the international community, Sudan is poised to catch the eye of frontier explorers as a go-to destination for investment. AEW 2021 will be the ideal platform during which foreign investors will be introduced to African opportunities, and by participating in Cape Town, Aboujoukh will place Sudan at the center of investment dialogue,” stated Verner Ayukegba, Senior Vice President at the African Energy Chamber (AEC).
AEW 2021, in partnership with South Africa’s Department of Mineral Resources and Energy DMRE, is the AEC’s annual conference, exhibition and networking event. AEW 2021 unites African energy stakeholders with investors and international partners to drive industry growth and development and promote Africa as the destination for energy investments.
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