Nigeria’s Nigerian Content Development & Monitoring Board (NCDMB) Confirms as Platinum Sponsor of African Energy Week 2022 (AEW 2022)
The Nigerian Content Development & Monitoring Board will be participating at AEW 2022 as a platinum sponsor, thereby shaping discussions around local content development across the African oil and gas industry
Trends across the oil and gas market continue to highlight the vital need for Africa to prioritize local content development
The African Energy Chamber (AEC) is proud to announce that the Nigerian Content Development & Monitoring Board (NCDMB) will participate as a platinum sponsor at this year’s edition of the African Energy Week (AEW) (www.AECWeek.com) conference and exhibition, Africa’s premier event for the oil and gas sector, which will take place from October 18-21, 2022, in Cape Town. During the event, the NCDMB will drive critical dialogue around local content and capacity building while networking with high-level delegates from across the regional and international energy landscapes.
Since its establishment in 2010 under the Nigerian Oil and Gas Industry Content Development Act, the NCDMB has been instrumental in shaping positive developments regarding local capacity building within the West African country’s oil and gas industry through partnerships with academia and operators on infrastructure rollout, content development plans and Sciences, Technology, Engineering and Mathematics (STEM) education initiatives.
With challenges such as the lack of funding; unproductive regulatory frameworks; and inadequate workforce development programs restricting the continent from building a next-generation, competitive and world-class oil and gas workforce, Africa has and continues to heavily rely on expatriates to meet its oil and gas market needs. However, this trend is set to be reversed. While countries such as Nigeria, Angola and Equatorial Guinea are leading in local content development with the implementation of regulatory frameworks, and an increasing number of African producing countries such as Ghana, Namibia, The Gambia, Ivory Coast and South Sudan are in the process of developing their own local content policies, a lot more needs to be done.
As such, with its AEW 2022 sponsorship, the NCDMB aims to address this, participating in keynote sessions and panel discussions at AEW 2022 and driving discussions around local content development in Africa. As the African energy sector expands at an accelerated pace, and stakeholders progress with the maximization of the continent’s 125.3 billion barrels of proven oil reserves and over 620 trillion cubic feet of gas, organizations such as the NCDMB are key for ensuring that Africa’s population benefits from development.
Meanwhile, in 2022, as majors exit some of Africa’s hydrocarbon-rich basins, prioritizing local content development will ensure that the continent is well equipped to optimize the management of its oil and gas resources whilst ensuring exploration, production and infrastructure development is maintained over the long term. In addition, with the energy transition disrupting operations across the entire oil and gas sector, prioritizing local content development will enable Africa to upgrade its energy workforce in line with global standards and climate mitigation trends. Skills transfer and capacity building, therefore, will ensure the African workforce is equipped with modern skills and technologies that will accelerate Africa’s energy growth.
In this regard, placing local content development high on the agenda both at AEW 2022 and across the continent’s oil and gas sector will enable Africa to fast track the buildup of infrastructure across the upstream, midstream and downstream sectors.
“Trends across the oil and gas market continue to highlight the vital need for Africa to prioritize local content development and accelerate investment, exploration, production and infrastructure rollout using a combination of domestic and international solutions. One of the areas NCDMB will focus on during the upcoming AEW 2022 is the need for Africa to increase the participation of women in STEM programs; youth in energy; and local content in large-scale oil and gas projects,” states NJ Ayuk, Executive Chairman of the AEC.
Under the theme, ‘Exploring and Investing in Africa’s Energy Future while Driving an Enabling Environment,’ AEW 2022 will host a delegation from NCDMB in various summits and networking forums to discuss local content development.
Distributed by APO Group on behalf of African Energy Week (AEW).
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About African Energy Week (AEW):
AEW 2022 is the AEC’s annual conference, exhibition and networking event. AEW 2022 unites African energy stakeholders with investors and international partners to drive industry growth and development and promote Africa as the destination for energy investments. Key organizations such as the African Petroleum Producers Organization, as well as African heavyweights including Equatorial Guinea and Nigeria, have partnered with AEW, strengthening the role the event will play in Africa’s energy future.