|Congo’s participation in the Oil & Gas Meeting Day happens on the backdrop of strong recovery within Central Africa’s services industry|
|JOHANNESBURG, South Africa, September 26, 2019/ — Congo’s oil sector is answering to Equatorial Guinea’s call to cooperation and will be participating in the Oil & Gas Meeting Day in Malabo on October 1st and 2nd, 2019. The delegation will be led by Minister of Hydrocarbons Jean-Marc Thystère-Tchicaya.|
Congo’s participation in the Oil & Gas Meeting Day happens on the backdrop of strong recovery within Central Africa’s services industry. This is especially supported by strong drilling activity in key markets such as Chad and Gabon, and exceptional exploration prospects being drilled across the region, including onshore Congo-Brazzaville.
Such growth within Africa’s oil & gas sector presents the continent’s services companies with tremendous opportunities for partnerships and regional expansion. As an energy and oil & gas hub, Central Africa is home to several indigenous services companies from across the EPC, drilling support services and logistics industries whose growth prospects can be unlocked by further opening up to best international partnerships and joint-ventures.
Recent regulatory reforms in Congo-Brazzaville, Gabon or Cameroon are sending strong signals that local content will be the driver of oil & gas growth in Central Africa and the rest of the continent in the future. In addition, recent exploration successes and production increases across the region, especially in Equatorial Guinea, are providing the right opportunities for local services companies to better participate in the development of the industry. The presence of Congo-Brazzaville, sub-Saharan Africa’s third largest oil producer, at the Oil & Gas Meeting Day shows that African companies are open for business and seeking deals that will support the growth of our industry and create jobs.
“Under the leadership of H.E. Jean-Marc Thystère-Tchicaya, Congo has been successfully raising its international profile and engaging with global energy markets,” declared Nj Ayuk, Executive Chairman at the African Energy Chamber and CEO at the Centurion Law Group. “From the joining of OPEC and the installation of the new Noumbi FPSO in 2018 to the recent granting of new PSCs to majors such as Total and Lukoil, Congo is making its voice heard, increasing its production and boosting exploration. The country’s industry leadership will also see Brazzaville hosting the APPO Heads of State Summit in February 2020. This brings opportunities not only for Congolese companies but for the entire region,” added Mr. Ayuk.
The African Energy Chamber strongly supports the Oil & Gas Meeting Day, a Year of Energy event organised by Equatorial Guinea’s National Alliance of Hydrocarbons Service Companies (NAHSCO). Malabo has positioned itself as the hub for services companies to engage in meaningful conversations on how to build the next-generation of African oil & gas leaders and companies. The services industry is a massive job creator and a strong pillar of the global oil & gas industry. As cooperation amongst African oil markets increases, the need for services companies to step up their game and pursue an aggressive outreach has become a necessity.