Equatorial Guinea is rapidly becoming a hub for African service companies, driving a regional approach to local content based on partnerships and oil industry cooperation, Nj Ayuk, Executive Chairman at the African Energy Chamber and CEO of the Centurion Law Group has said.
Speaking ahead of an event dubbed Oil & Gas Meeting Day that will be held in Malabo, Equatorial Guinea on October 1st, 2019, Ayuk recognised the country as one of Africa’s leading investment hubs.
“The development of a strong African oil services industry is crucial if we want to get value out of our natural resources and create jobs,” Ayuk explained.
The way to build African capacities is to work together and create jobs, and we are happy Malabo is bringing everyone together,” he added.
Malabo, Equatorial Guinea’s capital, will be hosting the Oil & Gas Meeting Day in order to strengthen cooperation amongst African companies, encourage the development of a strong African content and promote joint-venture opportunities.
The summit is part of Equatorial Guinea’s ‘Year of Energy’ initiative and will focus on exploring opportunities and deals amongst services companies, which are central to the development of strong African capabilities across the oil and gas value-chain.
In a recent announcement, the African Energy Chamber said it strongly supports the National Alliance of Hydrocarbons Service Companies (NAHSCO) in the organization of this upcoming Oil & Gas Meeting Day. We invite all our partners, especially national oil companies and public and private services companies, to come to Malabo in October. The Chamber stated that this will be a key platform for dialogue and deals with international, technology and services companies.
The Chamber also noted that Oil & Gas Meeting Day will offer the opportunities for African services companies to make deals with regional and international partners and drive global transformations within the oil services industry.
“More importantly, it will provide a platform to share experiences on local content and advocate for a regionalization of local content development within African oil markets,” the organisation explained.
“With this meeting, African services companies and national oil companies have the chance to not only be part of the game, but change it to their benefits,” said Ayuk.