The African Energy Week (AEW) (www.AECWeek.com) 2022 conference and exhibition – Africa’s premier event for the oil and gas sector which will be taking place from October 18-21 this year in Cape Town – will serve to drive long-term energy investment in Africa with the aim of ushering in a new era of socioeconomic growth. In line with this objective, and as a facilitator of improved local and foreign direct investment in Namibia, the Namibian Investment Promotion Development Board (NIPDB) will be participating as a diamond sponsor at this year’s edition of the AEW conference.
Representing one of Africa’s fastest growing energy markets, the NIPDB’s presence and participation as a diamond sponsor at Africa’s biggest event for the energy sector will be crucial for shaping dialogue around current investment trends as well as the challenges and opportunities present across both Namibia’s and the continent’s energy sector.
The discovery of sizable oil and gas reserves by TotalEnergies at the Venus 1-X well; and Shell and Qatar Energy at the Graff-1 well in early 2022 – as part of a massive exploration campaign launched by the Namibian government to maximize the exploitation of local energy resources to meet local and regional energy needs – has opened up significant opportunities across the entire energy value chain in Namibia. In addition to realizing the potential of the country’s oil and gas prospects, the discoveries, along with the country’s favorable investment climate, have positioned Namibia as lucrative investment destination in 2022 and beyond.
Moreover, with major players expanding upstream investments across Namibia’s untapped hydrocarbons-rich basins – in search of similar discoveries made at Venus and Graff-1 – massive investment opportunities remain across exploration and production landscapes. By shaping critical conversations in keynote addresses and networking forums, NIPDB will highlight these opportunities to regional, continental and international energy stakeholders and investors whilst promoting the role the country’s oil and gas will play in making energy poverty history across the continent by 2030. For Namibia, the discoveries promise a new era of economic growth on the back of oil and gas while for Africa, new supply streams at a time when the continent desperately requires new sources of energy.