Congo: AEC signs historic memorandum of understanding with the Organization of African Petroleum Producers

In Brazzaville, the African Energy Chamber (AEC) has signed a historic Memorandum of Understanding with the African Petroleum Producers Organization (APPO). Under the terms of the agreement, the two parties pledge to work together to improve Africa's energy security, promote local content and ensure that African companies develop the capabilities to become world-class operators undertaking increasingly important projects in Africa's oil, gas and energy sector.

Barely half of Africa's population has access to electricity. Very often, this access is unreliable and unaffordable. The remaining 600 million people have no access to electricity, and an even greater number, estimated at 900 million, have no access to clean cooking fuels.

The AEC and APPO jointly recognize that Africa's demand for energy continues to grow and, ultimately, that attempts to meet this demand adequately will have to involve the development of local and regional capacities. African private-sector companies will need to increase their capacity to generate the necessary investment, as well as acquire the technologies and know-how required to bring major oil, gas and energy projects to fruition on the continent. Ultimately, energy production in Africa should not be left to international and national oil companies alone.

The agreement enables the AEC to work with APPO to improve Africa's energy industry by promoting local and African content development, intra-African energy trade, technology-driven investment and partnership opportunities across the oil and gas sector.

The African Energy Chamber firmly believes in the potential of the private sector to mobilize the resources needed to meet the challenges of the oil, gas and energy sector that we see in Africa. However, the continent's governments must redouble their efforts to offer the private sector, international and local investors, a favorable environment.

The African Petroleum Producers Organization (APPO), chaired by His Excellency Dr. Omar Farouk Ibrahim, was founded in 1987 with the principal aim of fostering cooperation in the field of hydrocarbons between its 18 member countries and other global institutions in order to promote the use of oil for energy security and sustainable development.

"The Chamber is honored to partner with APPO, an African organization that serves as a vital platform for cooperation, harmonization and collaboration to advance the oil, gas and energy industry in Africa. We are committed to driving new agreements, projects and partnerships that put local content and energy security at the top of the agenda, as well as ensuring that African policymakers, explorers, service providers and financial institutions lead the dialogue at African Energy Week 2024 (AEW 2024) and beyond," said NJ Ayuk, Executive Chairman of the AEC.

AEW is the AEC's annual energy event, bringing together African decision-makers and stakeholders with global investors and project developers.