Representing one of Africa's emerging international independents fast-tracking project developments, Norway-based multinational oil and gas exploration company BW Energy, will attend and participate at this year's edition of the African Energy Week (AEW) (www.AECWeek.com) conference and exhibition, which will take place from October 18 – 21 in Cape Town, as a cocktail sponsor for the Invest in Namibia side event. Spearheaded by Namibia's Ministry of Mines and Energy alongside the Namibia Investment Promotion and Development Board and the National Petroleum Company of Namibia, in partnership with the African Energy Chamber (AEC), the Invest in Namibia side event at AEW 2022 aims to promote investment opportunities across Namibia's rapidly expanding energy sector.
As one of the companies driving Namibia's hydrocarbon market success, the participation of BW Energy as a cocktail sponsor for the Invest in Namibia side event will help to highlight the country's massive oil and gas potential. Since its entrance in Namibia's hydrocarbon-rich market in 2017 through the company's acquisition of a 56% stake in the Kudu Gas project offshore Namibia, BW Energy has committed to expanding Namibia's energy mix as well as local value creation through the monetization of stranded gas.
Furthermore, by increasing its interest in the large-scale gas project to 95% in 2021, BW Energy has emerged as one of Namibia's key energy players and investment drivers, and now, with the company having revised the development concept of the Kudu Gas Project to meet offtake needs while ensuring robust financial project returns, the Invest in Namibia side event at AEW 2022 presents the best platform for the company to promote the Kudu Gas Project to regional, continental and international energy companies, investors and potential partners, securing the long-term financing required for the upstream Kudu Development.
With Namibia currently relying on electricity imports to meet its domestic needs, works being undertaken by BW Energy at Kudu will help ensure the reliability of the country's grid network, drive industrial growth and job creation while positioning Namibia as a regional energy hub. As a cocktail sponsor for the Invest in Namibia side event, BW Energy will have access to exclusive AEW 2022 networking sessions where the company will provide an update on the development of Kudu as well as future projects and plans currently in the pipeline.
With BW Energy seeking to launch a massive exploration drive to expand Kudu's reserves, the project, coupled with recent massive discoveries made by TotalEnergies in the Venus prospect and by Shell in the Graff prospect, will inspire increased exploration in the southern African country. In this regard, AEW 2022 – Africa's premier event for the oil and gas sector – represents the best platform for companies like BW Energy to shape discussions around the solutions regarding investment, regulatory, environmental and technical challenges disrupting upstream operations across the Namibian landscape.
"The Chamber commends the operations being conducted by BW Energy to revamp the Kudu project. Africa needs more exploration, the rapid development of gas reserves and improved exploitation to meet local demand. Through companies such as BW Energy, the future of Namibia's energy sector is positive. We are proud to host BW Energy at AEW 2022 where investment deals will be signed to fast-track the success of Namibia's oil and gas industry," states NJ Ayuk, the Executive Chairman of the AEC.
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About African Energy Week (AEW) 2022:
AEW 2022 is the AEC's annual conference, exhibition and networking event. AEW 2022 unites African energy stakeholders with investors and international partners to drive industry growth and development and promote Africa as the destination for energy investments. Key organizations such as the African Petroleum Producers Organization, as well as African heavyweights including Equatorial Guinea and Nigeria, have partnered with AEW, strengthening the role the event will play in Africa's energy future.