By Ntombi Mhlongo
African energy decision-makers and stakeholders will meet with the United Arab Emirates (UAE) businesses and investors from the Middle East.
Dubbed the Dubai leg of the Invest in African Energy event is scheduled for March 30, 2023, and is aimed at boosting Africa’s energy sector growth by facilitating optimal investment and industry cooperation between UAE and Africa.
The gathering, which will be hosted by the African Energy Chamber (AEC), is premised on that Middle Eastern investment in African oil and petrol projects are critical in assisting the continent in meeting its increasing energy demands.
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The meeting will highlight capital and partnership opportunities across Africa’s expanding energy sector and will leverage optimal investment and industry know-how cooperation between both the UAE and African stakeholders, Further Africa News reported. There would be, high-level panel meetings and discussions, exclusive networking, and deal signings.
Furthermore, the online media platform highlighted that Africa aims to maximise the advancement and commercialization of its projected 125.3 billion crude oil barrels and 620 trillion cubic feet of petrol reserves in a bid to combat poverty and drive socio-economic growth.
“The UAE, as one of the largest global petroleum producers and shareholders, serves as a perfect partner for the continent. UAE firms such as the Abu Dhabi National Oil Company (ADNOC), Petrofac, and the Emirates National Oil Company Group (ENOC) have been critical in stabilising Africa’s entire oil and gas value chain,” it was mentioned.
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It was also highlighted that the most significant constraints to Africa’s hydrocarbon industry are a lack of sufficient funding and infrastructure.
“Middle Eastern investment opportunities in African oil and petrol projects are critical in assisting the continent in meeting its increasing energy demands. On the renewable power front, Middle Eastern public and private establishments remain at the frontline of pushing investment opportunities and project delivery across Africa,” it was mentioned.
Furthermore, it was mentioned that the Middle East and the UAE have established themselves as a global leader by leveraging oil and gas exploration while also incorporating renewable sources into the energy mix.
“Energy sector players are optimistic that investments and technological know-how from the Middle East in oil and gas exploration, production, asset development, maintenance, and monetization can drive Africa’s industries and economies to new heights,” Further Africa News highlighted.
