African Energy Chamber, CNDES join to boost oil and gas in Equatorial Guinea
The African Energy Chamber (AEC) recently met with Equatorial Guinea’s National Council for Economic and Social Development (CNDES) to explore strategic cooperation aimed at maximizing the country’s oil and gas sector development.
The discussions focused on local content development, energy financing, oil and gas production optimization and capacity building. As part of this collaboration, the AEC committed to equipping CNDES staff with modern skills and expertise across the oil and gas value chain.
Through its collaboration with CNDES, the AEC remains committed to supporting the country’s ambitious agenda to maximize the growth of its hydrocarbons sector
The AEC reaffirmed its commitment to helping Equatorial Guinea attract new oil and gas investments from international partners. The Chamber is a strong supporter of African markets, including Equatorial Guinea, leveraging oil and gas resources to ensure electricity access and drive industrialization and employment creation.
During the meeting, the AEC and CNDES agreed to work together on policy revitalization and financial strategies necessary to attract new capital into Equatorial Guinea’s oil and gas industry. Given CNDES’ role as the government’s official advisor on socio-economic principles and the AEC’s position as the voice of the African energy industry, the partnership will help create a conducive investment environment, increase private sector participation and boost oil and gas production.
The AEC also commended Equatorial Guinea’s efforts to strengthen its position as a key player in both African and global energy markets, during the meeting. A member of the Organization of the Petroleum Exporting Countries (OPEC), Equatorial Guinea plays a key role in the stability of the regional and global oil market, with several international oil and gas firms, including Chevron, Marathon Oil, Trident Energy and VAALCO Energy, launching new projects. Ongoing major projects such as the Gas Mega Hub and the Zafiro Field Expansion will be crucial in driving the continued growth of Equatorial Guinea’s oil and gas industry.
“Equatorial Guinea represents one of Africa’s most well-established and rapidly growing oil and gas markets. Through our collaboration with CNDES, the AEC remains committed to supporting the country’s ambitious agenda to maximize the growth of its hydrocarbons sector,” stated NJ Ayuk, the Executive Chairman of the AEC.
