Niger currently produces 20,000 barrels of oil per day. However, this is expected to rise to 120,000 by 2023 upon the completion of an over 2000km, US$4.5 billion crude oil pipeline linking the highly prospective Agadem Rift Basin in Niger to the Beninese Coast. The completion of the pipeline is expected to trigger further investments in the development of existing discoveries, taking production to close to 300,000 barrels per day by 2030. The oil and gas sector will make up close to 50% of Niger’s GDP by 2030. Major players in the industry currently include China’s CNPC, gas giant SONATRACH and British Savannah Energy which has caught the attention of investors lately with a string of discoveries. The minister reiterated Niger’s willingness to attract other operators, pointing to their strong track record in maintaining the sanctity of energy contracts, a competitive fiscal regime, stability in the country and their ability to work collaboratively with investors.
In order to service this expected growth in the energy industry, especially its oil and gas industry, the Minister committed to working together with the African Energy Chamber, to build partnerships between Niger based companies and experienced service providers globally.
According to Mr NJ Ayuk, Executive Chairman of the African Energy Chamber who led the Chamber team during the meeting, the Chamber is committed to working with Niger to develop a strong services sector that is able to provide good paying jobs to the citizens of Niger, enable the transfer of technology to the country, develop skills and seasoned energy entrepreneurs, as well as provide beyond market returns for foreign investors.
“We look forward to welcoming HE the minister, his delegation and the entire oil and gas sector of Niger to Cape Town, at this year’s edition of African Energy Week” Said NJ Ayuk. “Niger’s oil and natural gas potential – estimated billions of barrels at 18.6 billion cubic meters – remains significantly unexploited and thus presents a valuable investment opportunity for international stakeholders” Ayuk continued.
AEW 2021 represents the most suitable platform in which emerging sectors such as Niger can secure critical capital. Already, the event has received support and endorsements by both regional and international financiers, and with networking-focus the top of the agenda, AEW 2021 represents the premier energy event whereby deals and decisions regarding Africa’s energy future will be made.
Distributed by APO Group on behalf of African Energy Chamber.For more information about Africa’s premier energy event, please visit www.AEW2021.com or www.EnergyChamber.org and/or reach out directly to Amina Williams at amina.williams@energychamber.org
For registration related enquiries, please contact registration@aew2021.com
For sales-related enquiries, please contact sales@aew2021.com
For media-related enquiries, please contact media@aew2021.com
For speaker opportunity-related enquiries, please contact speakers@aew2021.com
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
