Oil and Gas investors engage with President Bazoum of Niger in Houston, Texas
The African Energy Chamber and EnerGeo Alliance played host to the President of the Republic of Niger, H.E. Mohamed Bazoum, at an oil and gas investment summit in Houston, featuring U.S.-based energy executives
We continue to see great progress in Niger, when it comes to the investment climate in their oil and gas sector, especially the fiscal terms that investors are being offered
Building on years of increased engagement between Africa and the U.S., The African Energy Chamber (AEC) (www.EnergyChamber.org) and EnerGeo Alliance, the global trade alliance for the energy geoscience industry hosted the President of the Republic of Niger, H.E. Mohamed Bazoum, for an investment promotion session in Houston, serving to deepen cooperation between Niger and American based companies.
Taking place on 23 September, the event was part of a wider summit featuring African Heads of State, Ministers, and Houston-based executives, during which, participants discussed opportunities, developments, and challenges with regards to the future of African energy.
“The goal of this event, in line with the priorities consistently voiced by President Bazoum to invite and engage with credible investors who can partner with the government and our private sector to exploit the resources of Niger for the benefit of both the investors as well as for the people of Niger” stated Mahamane Sani Mahamadou, Niger Republic's Minister of Petroleum who was also present at the event. “Niger currently has over 35 exploration blocks on offer with great potential and we invite interested parties to put in bids for them” he continued.
The government of Niger has committed itself towards bringing reliable and sustainable energy to the entire country. With the country’s stated goal of attaining universal electricity access by 2035, the West African country has set a blueprint for rural electrification by developing the Nigerien Agency for the Promotion of Rural Electrification, which launched a nationwide feasibility study for the development of a market for mini grids throughout the country. The development of its massive gas reserves will definitely play a major role in attaining this goal.
Additionally, the Government of the Republic of Niger, in March 2022, signed an agreement with independent energy company, Savannah Energy, for the construction and operation of the country’s first wind farm. Expected to become one of the largest wind farms on the continent, the Parc Eolien de la Tarka wind farm will have an installed generation capacity of 250 MW.
Since his election, President Bazoum has redirected focus on the country’s burgeoning oil sector, prioritizing infrastructure developments such as the 2000km, US$4.5 billion crude oil pipeline linking the highly prospective Agadem Rift Basin in Niger to the Beninese Coast. With an expected capacity of 90,000 barrels per day upon completion in 2023, the pipeline is expected to increase domestic production five times over, establishing the country as a major regional oil producer and global competitor.
The pipeline will provide a direct link between Niger’s abundant resources and international markets, increasing export opportunities and driving domestic production. It will also prove the viability of the sahel region as a major oil and gas producing frontier. Already, with two major oil producers active in the country, namely, the China National Petroleum Corporation (CNPC) – currently the main operator of the Niger-Benin pipeline – and Savannah Energy, Niger is driving frontier exploration and associated production.
These producers have been instrumental in establishing Niger’s oil sector, leading drilling prospects which have led to significant discoveries. Coupled with an added focus on local content, Niger’s oil sector, under the leadership of Minister Mahamadou, has driven job creation, increasing energy access and socioeconomic growth in the process.
“We continue to see great progress in Niger, when it comes to the investment climate in their oil and gas sector, especially the fiscal terms that investors are being offered, as well as the sensible local content regulations in place that make it easy for investors to invest their capital and reap great benefits whilst still contributing immensely to the development of the country.” Said NJ Ayuk, Executive Chairman of the African Energy Chamber. “this will no doubt unlock additional billions of dollars of investments into Niger’s oil and gas sector and ultimately lead to energy security in the country and the region” Ayuk continued.
Distributed by APO Group on behalf of African Energy Chamber.