Global energy major Chevron has been confirmed as a bronze sponsor of the African Energy Week (AEW) (www.AECWeek.com) 2022 conference and exhibition, Africa’s premier event for the oil and gas sector which will take place from 18 – 21 October 2022. Representing one of the world’s biggest integrated energy companies, the participation of Chevron as a bronze sponsor will be critical for shaping discussions around the continent’s energy future while reaffirming the event’s position as Africa’s premier energy event.
Since entrance into the African energy market in 1913 with the launch of exploration and production operations in Nigeria, the major has been instrumental in expanding the continent’s energy developments through massive investments across the upstream, midstream and downstream segments. Chevron’s expansion in some of Africa’s leading hydrocarbon-producing countries including Nigeria, Angola, Equatorial Guinea, Cameroon, Egypt, Ghana, Benin and the Republic of Congo has not only positioned Africa as a top hydrocarbons market but accelerated economic development through GDP growth and employment creation.
In Nigeria, the firm’s 40% interest in eight concessions across the Niger Delta and licenses for exploration and production in nine deep water blocks have been critical for boosting the west African country’s energy status over the past several decades. With Nigeria targeting an increase in E&P in 2022 and beyond, Chevron’s renewed exploration focus in the Niger Delta will be a game changer. Similarly, in Angola, the company’s developments of major gas and liquefied natural gas (LNG) projects including Mafumeira Sul and the 5.2 million-metric-ton-per-year Angola LNG plant in Soyo continues to optimize the continent’s hydrocarbon potential while addressing both domestic and international energy access, affordability, decarbonization and reliability issues.
As Africa seeks to optimize the exploitation of its 125.3 billion barrels of crude oil and 620 trillion cubic feet of gas reserves to end energy poverty and to provide access to clean cooking to some 900 million people while reducing high energy prices due to overreliance on energy imports, Chevron’s strategy to maximize production in existing assets while pursuing new opportunities across Africa’s rich basins will have a positive impact on the continent’s energy market growth.
With west Africa working towards expanding its regional gas market for energy security, Chevron, with its 36.7% stake in the West African Gas Pipeline Company Limited, is playing a huge role in this energy revolution, and with Chevron investing $10 billion in low emissions technologies including carbon capture, storage and utilization, renewable energy and LNG operations through 2028, Africa has an opportunity to maximize its partnership with the American major to maintain a low carbon footprint across the energy sector whilst accelerating the diversification of the energy mix for energy security.
“Chevron has been a major player across Africa’s oil and gas landscape for decades and with the continent targeting accelerating exploration and production in 2022 and beyond, the company has only strengthened its presence across key basins while consolidating its commitment to African energy and African people. Chevron’s support for AEW 2022 is a testimony to the importance of African oil and gas to ensure global energy security, both now and in the future,” states NJ Ayuk, the Executive Chairman of the African Energy Chamber (AEC).
At AEW 2022, a delegation from Chevron will provide an update on the company’s high-impact projects and the major’s expansion plans across Africa’s emerging, frontier and marginal markets. Under the theme ‘Exploring and Investing in Africa’s Energy Future while Driving an Enabling Environment,’ AEW 2022 will host industry executives from Chevron in high-level meetings and panels discussions on oil and gas market optimization, the energy transition, energy decarbonization as well as the company’s role in boosting Africa’s entire energy value chain.