Showcasing a Frontier Market: Hon. Samou Seidou Adambi to Promote Benin Energy at African Energy Week (AEW) 2023
Benin’s Minister of Energy, Water and Mines, and the current APPO President, Hon. Samou Seidou Adambi, will showcase the country’s energy sector opportunities in hopes of attracting investment, ramping up E&P activities and fostering cooperation with other nations
The Chamber is delighted to welcome Minister Hon. Adambi and his delegation from Benin at AEW 2023
The African Energy Chamber (AEC) is proud to announce that Hon. Samou Seidou Adambi, Minister of Energy, Water and Mines of Benin and the current President of the African Petroleum Producers Organization (APPO), will lead a delegation to the upcoming African Energy Week (AEW) (www.AECWeek.com) 2023 conference and exhibition, Africa’s premier energy event. Taking place from October 16-20 in Cape Town, this significant event presents a valuable opportunity for the Minister to promote the country’s energy sector with the aim of attracting lucrative investments, bolstering exploration and production endeavors, and forging robust collaborations with fellow nations.
Representing a largely untapped oil and gas market, Hon. Adambi is tasked with attracting investments into the country’s upstream sector, building strong cooperation with neighboring countries and implementing favorable policies to drive growth and innovation. Given Benin's heavy dependence on Nigeria and Ghana for nearly half of its electricity needs, it is commendable that the nation maintains robust cooperation with these neighboring countries. However, it is equally vital for Benin's long-term interests to become self-sufficient in electricity generation—an objective strongly pursued by Hon. Adambi and the Ministry at large.
To date, Benin has successfully attracted international companies including Zenith Energy. This Canadian-based international independent oil and gas company has expressed keen interest in Benin's Sèmè oilfield, and is set to finalize a production sharing contract this year. In 2015, the discovery of Sèmè North within Block 1 (offshore Benin) revealed sizeable oil reserves – estimated at 22-28 million barrels of oil and 428 billion cubic feet of natural gas of recoverable reserves. Recognizing Benin as an attractive investment destination, the company eagerly anticipates a productive partnership with local authorities pending acceptance of their proposal.
Benin is also one of the 18 member countries of APPO, which serves as a forum for collaboration, policy synchronization, and knowledge exchange among African oil producers. APPO has made significant strides in facilitating investments and improving the regulatory and business environment to support sustainable development in the African oil and gas sector. The organization's advocacy for responsible utilization of oil and gas reflects its commitment to enhancing sector efficiency and contributing to sustainable development while reducing emissions. In this context, Hon. Adambi represents APPO locally and globally as President, fostering cooperation and maintaining diplomatic relationships with other organizations to advance African oil-producing countries and promote sustainable development in the energy sector.
Additionally, due to its location, Benin’s renewable energy resources, such as solar and wind, offer lucrative opportunities for green energy and power investors alike. The country’s geographic location and topography provide ideal conditions for the country to have substantial renewable energy projects, adding to Benin’s diversification of its energy mix and the fulfilment of national objectives to achieve universal access to electricity. Meanwhile, Benin also possesses significant mining potential, with deposits of various minerals including limestone, marble, clay, gold, and phosphates. The country's location, supportive regulations drafted by the Ministry, and efforts by the Ministry to attract investment make it an attractive destination for mining exploration and development. With the right exploration and sustainable practices, Benin has the potential to become a key player in the regional mining industry as well as global energy transition, unlocking valuable mineral reserves for economic growth.
“The Chamber is delighted to welcome Minister Hon. Adambi and his delegation from Benin at AEW 2023. His participation demonstrates Benin's unwavering dedication to attracting investments in the energy sector. By leveraging the networking opportunities available, Benin has the unique opportunity to showcase its untapped potential, forge valuable partnerships, and garner support for crucial energy projects,” states NJ Ayuk, Executive Chairman of the AEC.
During AEW 2023, Hon. Adambi, will have a prime opportunity to highlight Benin's vast energy and mining potential. Additionally, he will present upcoming plans for the energy sector, aiming to attract stakeholders and encourage investment in the development of energy infrastructure and mining projects. Hon. Adambi's crucial responsibility during AEW will be to present and emphasize the favorable policies implemented by the Benin Ministry, designed specifically to attract, and engage with these important stakeholders.
AEW is the AEC’s annual energy event, uniting regional and global stakeholders to discuss the future of Africa’s energy sector. This year’s edition takes place under the theme, ‘The African Energy Renaissance: Prioritizing energy poverty, people, the planet, industrialization and free markets.’ Visit www.AECWeek.com for more information about attendance, sponsorship and exhibition opportunities.
Distributed by APO Group on behalf of African Energy Week (AEW).