The Dubai edition aims to strengthen collaboration among African energy decision makers and stakeholders with the UAE and businesses and investors in the Middle East
- The African Energy Dubai event’s Venture Capital will boost Africa’s energy sector growth by facilitating optimal investment and industry cooperation between UAE and African stakeholders
- Middle Eastern investment opportunities in African oil and petrol projects are critical in assisting the continent in meeting its increasing energy demands
The Dubai leg of the Invest in African Energy event will highlight capital and partnership opportunities across Africa’s expanding energy sector, will be hosted by the African Energy Chamber (AEC) on March 30 2023.
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Following the success of the London (U.K.), Oslo (Norway), and Frankfurt (Germany) editions of the Invest in African Energy receptions in 2023, the Dubai edition aims to strengthen collaboration among African energy decision makers and stakeholders with the UAE and businesses and investors in the Middle East.
The Venture capital in African Energy Dubai event will leverage optimal investment and industry know-how cooperation between both the UAE and African stakeholders through the high-level panel meetings and discussions, exclusive networking, and deal signings.
Africa aims to maximise the advancement and commercialization of its projected 125.3 billion crude oil barrels and 620 trillion cubic feet of petrol reserves in a bid to combat poverty and drive socio-economic growth. The UAE, as one of the largest global petroleum producers and shareholders, serves as a perfect partner for the continent.
UAE firms Stabilizing Africa’s oil and gas value chain
UAE firms such as the Abu Dhabi National Oil Company (ADNOC), Petrofac, and the Emirates National Oil Company Group (ENOC) have been critical in stabilising Africa’s entire oil and gas value chain.
ADNOC, for instance, is expanding Africa’s downstream activities with the initial release of supertankers to increase fuel storage capacity in Angola and the DR Congo. In addition, the company recently obtained a 50% stake in TotalEnergies’ retail business in Egypt, and ENOC is building petroleum receiving and stockpiling infrastructure in Tanzania in an effort to establish the nation as a petroleum hub for East and Central Africa.
Petrofac is also working extensively for Tullow Oil in Mauritania’s Banda and Tiof Fields, while a variety of UAE investments have fueled African upstream activities.
Africa Energy Opportunities 2023
The African Energy Dubai Reception will highlight the opportunities in the energy sectors, maximise existing partnerships, and pave the way for new collaborations to improve Africa’s oil and gas exploration, production, exploitation, and monetization capabilities.
Meanwhile, the most significant constraints to Africa’s hydrocarbons industry are a lack of sufficient funding and infrastructure. Middle Eastern investment opportunities in African oil and petrol projects are critical in assisting the continent in meeting its increasing energy demands.
On the renewable power front, Middle Eastern public and private establishments remain at the frontline of pushing investment opportunities and project delivery across Africa.
Companies like AMEA Power, Masdar, the Abu Dhabi Fund for Development, and the International Renewable Energy Agency (IRA) continue to play a key role in accelerating the adoption of solar, wind, and green hydrogen across Africa.
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In this respect, the Venture capital in African Energy Dubai occasion is the best platform for highlighting, discussing, and negotiating and signing investment but also partnership deals in Africa. When it comes to maximising Africa’s entire energy base in pursuit of a fair and comprehensive transition to renewable energy, Dubai is the best spot for African nations to learn best practises.
The Middle East and the UAE have established themselves as a global leader by leveraging oil and gas exploration while also incorporating renewable sources into the energy mix. Energy sector players are optimistic that investments and technological know-how from the Middle East in oil and gas exploration, production, asset development, maintenance, and monetization can drive Africa’s industries and economies to new heights.