Energy minister to promote upstream opportunities at African Energy Week

The conference and exhibition - Africa’s leading investment platform for the energy sector would take place from 18 – 21 October 2022, in Cape Town. Representing one of Africa’s fastest growing frontier upstream destinations, Hon Jobe would be going to Cape Town to make a strong play for upstream investment across The Gambia’s high potential oil and gas market; the AEC said in a statement.

“With The Gambia targeting new foreign direct investment across the oil and gas industry to accelerate exploration activities whilst fast-tracking infrastructure and project development, AEW 2022 provides an ideal platform for the minister to promote the vast opportunities present across the West African country’s expanding hydrocarbons market,” the statement states.

“To date, favorable fiscal terms, an investor-friendly climate and the presence of hydrocarbon-rich basins have driven massive investments as well as the launch of large-scale exploration campaigns by international companies including BP, PetroNor, Tullow Oil, Petronas, FAR, Woodside and Kosmos Energy – resulting in the discovery of 1.5 billion barrels of potential oil in the Panthera, Jatto and Malo prospects.”

The statement further states that the presence of massive oil and gas reserves in neighbouring basins such as in Mauritania and Senegal not only boost investor confidence in the country but positions The Gambia as an ideal exploration hub for companies seeking to make major discoveries such as those in the Greater Tortue Ahmeyim and Yakaar-Teranga developments.

Accordingly, the sector is ripe for investment and during AEW 2022, insight into such opportunities would be provided for by the minister.

Meanwhile, with only just over one third of The Gambia’s population having access to electricity and less than 3% to clean cooking, the exploitation of oil and gas resources is non-negotiable for the government to achieve its 2025 target of universal access to modern, reliable and affordable energy, the statement states.

With the demand for African oil and gas expanding globally owing to rising global demand and increases in economic and industrial activities, an ambitious energy market strategy coupled with the country’s strategic location and close proximity to international markets such as Europe present a huge opportunity for the market to evolve into a global energy hub.

In this regard, Hon Jobe will participate in high-level meetings and panel discussions at AEW 2022, making a strong case for the role of Gambian oil and gas in ensuring energy security at local, regional and international levels.

“The Chamber is honoured to have Hon Jobe participate at AEW 2022 as he moves to strengthen regional, international and public and private sector investments across The Gambia’s oil and gas sector. We plan to do a special invest in the Gambia showcase. We believe that the success of both The Gambia and Africa’s economic growth lies within the full exploitation of hydrocarbons resources,” said NJ Ayuk, the Executive Chairman of the African Energy Chamber (AEC).

At AEW 2022, Hon Jobe would participate in the Ministerial Forum as well as in high-level discussions, providing an update on policy, capacity, institutional and infrastructural developments within The Gambia’s energy sector. In addition to promoting Gambian investment opportunities, the minister would shape discussions around critical issues including energy, poverty, security and investments.