OGAFIC 2011 will gather the major players in Africa's oil, gas & finance industries
OGAFIC,the 1st Oil and Gas Africa Finance & Investment Conference, will take place from 15th-16th November 2011 in Abuja, Federal Republic of Nigeria under the auspices of the Ministry of Petroleum Resources, Federal Republic of Nigeria. The event will be organised by the Ministry of Petroleum Resources, Federal Republic of Nigeria, and the African Petroleum Producers Association (APPA) Fund for technical Co-operation in cooperation with AME Trade Ltd, UK.
According to the 2010 BP Statistical Energy Review, Africa had proven oil reserves of 127.7tn barrels at the end of 2009 or 9.6 per cent of the world's reserves and in 2009 the region produced an average of about 9.7mn bpd of crude oil, 12 per cent of the world total. According to 2009 figures also, African proven Petroleum gas is estimated at 14.76 tcm, 7.9 per cent of the world total with gas production of 203.8 bcm, and 6.8 per cent of the world total.
Opportunities for investment
These developments have thrown up tremendous opportunities for investment and financing in the areas of exploration, production, refining, and infrastructure, in the oil and gas sector to further enhance its contribution to the socioeconomic development of Africa. For this to happen, it requires the mobilisation of resources amounting to several trillions of US dollars. According to the International Energy Agency, not less than US$17tn (of which US$8tn are in the emerging and developing countries), should be mobilised to meet investment needs at global level in the sector of energy as a whole during the next 25 years.
Realising the vast opportunities for investment in the oil and gas industry in Africa, it was necessary to organise this first Oil and Gas Africa Financing and Investment Conference to sensitise the investing community about the huge resources that would have to be mobilised to finance required investment in the upstream, midstream, downstream and ancillary projects in the oil and gas industry in Africa.
The 1st Oil and Gas Africa Financing and Investment Conference is a unique high level strategic conference designed to act as a platform for increasing oil and gas investments in the African region, by bringing together all stakeholders in the industry. These will include representatives from international and national oil and gas companies, representatives from several national, regional, international bilateral and multilateral financial and investment institutions, government agencies and the private sector. The main theme of the conference is "The Role of Financial Institutions in Financing Oil and Gas Investment Projects in Africa".
OGAFIC include delegations of the highest rank, from the Africa's seventeen petroleum producing countries namely: Algeria, Angola, Benin, Cameroon, Congo, Congo DRC, Cote D'Ivoire, Egypt, Equatorial Guinea, Gabon, Ghana, Libya, Mauritania, Nigeria, South Africa, Sudan and Chad and key private sector companies operating in Africa in addition to distinguished participants from international key energy firms and financial entities.
What are the main objectives of OGAFIC?
• Identifying the various sources and types of finance available for the development of the oil and gas industry in Africa
• Providing update on the different views of the challenges associated with current developments in the global oil and gas market
• Identifying strategic investment vehicles and mechanisms for managing oil and gas revenues for the maximum advantage of oil and gas producing countries in Africa.
• Assessing the role of national, regional and international financial institutions and capital market in the financing of investment projects in the oil and gas industry in Africa
• Seizing opportunities provided for interaction with other stakeholders to undertake strategic networking throughout the Conference.
For further information
AME Trade Ltd - Africa and Middle East Trade Ltd Unit 204, Omnibus Business Centre, 39 - 41 North Rd, London, UK, N7 9DP