The optimal production and utilization of the estimated 125.5 billion barrels of crude oil and 620 trillion cubic feet of gas reserves on the continent is essential for ensuring that everyone has access to energy. Africa’s national oil corporations (NOCs) have a crucial role to play in this process.
In this regard, the African Energy Chamber (AEC) is pleased to announce that the Central Energy Fund (CEF), a state-owned energy company in South Africa, will be attending and participating at the African Energy Week (AEW) conference and exhibition, which will be held from October 18 to 21 in Cape Town. The Central Energy Fund is the conference’s host NOC and a platinum sponsor. As the host NOC and a platinum sponsor of AEW 2022, CEF and its affiliates will extend a warm welcome to attendees, ministers, and other NOCs during the largest energy conference on the continent.
As the host NOC and platinum sponsor of AEW 2022, Africa’s premier event for the oil and gas sector, CEF, representing Africa’s second-largest and most industrialised economy, will be essential for fostering thoughtful discussions about how Africa can improve investments and developments across the entire energy value chain to be able to provide access to energy to the over 600 million people who do not currently have it while also igniting long-term and sustainable growth.
Through its various arms, including PetroSA, the Strategic Fuel Fund, oil and gas exploration and production company, iGas Energy, and the Petroleum Agency of South Africa, the state-owned enterprise, which is working to provide secure, dependable, and affordable energy solutions for South Africa by 2030, has and will continue to be crucial in fostering the growth of the energy sector throughout the southern African region.
CEF has become a driving force behind oil and natural gas initiatives in South Africa as well as across the entire African continent as a result of insufficient investment across the entire oil and gas value chain, which has led to the continent’s ongoing energy shortages and high gasoline costs. Notably, CEF is one of the primary actors supporting regional integrated energy sector growth by creating, owning, and operating the 865km gas transmission pipeline connecting the two nations as Mozambique and South Africa both boost their domestic gas economies.
The CEF Group has also committed to lowering energy imports and ensuring long-term energy security in South Africa through increasing production and utilisation of the nation’s gas resources in conjunction with integrated energy and chemical business Sasol.
“The Chamber is pleased to have the CEF Group serve as the host NOC for AEW 2022 this year. The NOC’s participation in the largest energy event in Africa is a clear indication of the efforts being made by the AEC in collaboration with African NOCs and energy market participants to provide a just energy transition for Africa through the use of the continent’s oil and gas resources. If Africa drills additional oil and gas wells and uses these resources to meet its energy demands, we think it will prosper. At AEW 2022, the CEF and other NOCs will be talking about this,” according to NJ Ayuk, the AEC’s executive chairman.
In light of the CEF’s efforts to diversify South Africa’s energy mix and find suitable energy solutions, AEW 2022 offers the finest venue for the host NOC to promote chances for collaboration with local, continental, and international energy firms and investors. Top executives from the CEF will have access to exclusive panel discussions and networking forums as the host NOC and platinum sponsor of AEW 2022, where information on the NOC’s ongoing initiatives and future plans for South Africa and the region will be presented.