MSGBC Oil, Gas & Power 2021 Officially Opens
MSGBC Oil, Gas & Power 2021 (https://bit.ly/3INTEOO) has officially started, with opening keynote addresses delivered by H.E. Macky Sall, President of the Republic of Senegal; Dr. Omar Farouk Ibrahim, Secretary General of the African Petroleum Producers Organization (APPO); H.E. Mohammad Sanusi Barkindo, Secretary General of the Organization of Petroleum Exporting Countries (OPEC); and NJ Ayuk, Executive Chairman of the African Energy Chamber.
Representing the region’s premier energy event, MSGBC Oil, Gas & Power 2021 united energy leaders and private sector executives from not only the entire MSGBC region, but across Africa and the world. Built against a backdrop of sizable oil and gas discoveries and associated large-scale project developments, the event aims to further enhance investment in the region while emphasizing the region’s success regarding cross-border cooperation and integration.
Speaking during his opening keynote address, H.E. Macky Sall provided a strong case for Senegalese oil and gas, emphasizing the role the country’s joint resources play in fast tracking regional economic growth. H.E. President Macky Sall promoted cooperation and partnerships, making a strong case for investment and development across the entire region, while highlighting human resources as a key opportunity for socioeconomic growth.
“We need to bring in more reliable technical and financial partners using clear legislation, a legislation that protects the investor while also protecting the interests of our nations,” H.E. President Sall stated, adding that, “The onus is on us as countries to make the required efforts towards involvement in oil and gas partnerships so as to make the most of it instead of simply contending ourselves with royalties.”
Additionally, as a member of OPEC and APPO, Senegal is committed to ensuring energy sector developments reap tangible rewards for the local population. By directing investment towards key oil and gas projects, the country aims to enhance domestic production capacity, improve intra-regional petroleum trade, and position the region as a both a competitive and attractive destination for foreign capital.
“We anticipate a bright future for Africa’s oil industry, with substantial opportunities for growth. The continent is home to five of the top 30 oil-producing countries in the world and several top gas-producing countries, including Senegal. The world will continue to rely on Africa’s precious resources in the long-term in order to meet the rapidly rising global demand for oil and gas,” H.E. Barkindo said.
Speaking virtually from Congo-Brazzaville, Dr. Ibrahim discussed Africa’s commitments to the energy transition and the role that oil and gas will play towards the future industrialization of Africa. He noted that in order to industrialize and spur socioeconomic growth, African countries will need to maximize the potential of their respective natural resources.
“I would like to emphasize that for APPO, and for Africa, we support measures aimed at protecting the environment for this and future generations. But such measures must conform with the principles of equity and common responsibilities, of respective capabilities, in the light of different circumstances as enshrined in the Paris climate agreement,” Dr. Ibrahim stated.
Finally, the opening welcome address by NJ Ayuk provided insight into the role of oil and gas in the MSGBC region’s energy and economic future. Significant hydrocarbon finds in recent years have created critical opportunities not just for energy sector advancement, but regional socio-economic growth.
“The future of this basin relies on you driving your oil and gas industry, don’t back up and never back down, on utilizing your oil and gas to serve your people. Your time is now,” he said.
As the MSGBC Oil, Gas & power 2021 conference and exhibition commences, regional and international stakeholders can look forward to two days of critical networking opportunities, insightful panel discussions and presentations, and transformative deal signing opportunities that will further the region's energy sector success.
Distributed by APO Group on behalf of Energy Capital & Power.