Guinea-Conakry’s Minister to present opportunities within the country’s oil and gas upstream sector and hydropower segment as the west African country seeks to address energy security and access at AEW 2022.
Mr. Aly Seydouba Soumah, Guinea-Conakry’s Ministry of energy, hydropower and hydrocarbons, has confirmed his attendance and participation at African Energy Week (AEW), Africa’s premier event for energy sector, which takes place from 18 – 21 October, 2022 in Cape Town.
Representing one of Africa’s most promising oil and gas markets, Mr. Aly Seydouba Soumah will promote investment opportunities across the country’s upstream, midstream and downstream oil and gas sectors.
With the west African country prioritizing revamping exploration activities to unlock its hydrocarbons potential, AEW 2022 provides the best platform for the minister to discuss, negotiate and sign upstream investment deals with regional, continental and international energy companies and investors. While Guinea-Conakry fine-tunes its oil and gas fiscal terms and bidding policies, the anticipated launch of the country’s first major licensing round in 2022 – which will comprise 22 blocks available for exploration – is already promising a bright future across the country’s upstream sector.
Furthermore, the establishment of national oil company Société Nationale de Petroles (SONAP) in November 2021 is a huge testimony to Guinea-Conakry’s commitment to streamline policies and operations of domestic institutions for optimal collaboration with external companies and investors to boost the oil and gas sector. Backed by neighboring Senegal and Mauritania’s recent oil and gas discoveries, the overall MSGBC region’s gas and oil market expansion and previous local exploration campaigns with majors TotalEnergies and Kosmos Energy, Guinea-Conakry’s exploration and production future promises to be huge.
In addition, with the Ministry under the leadership of Mr. Aly Seydouba Soumahseeking to prioritize the development of oil and gas infrastructure, such as the planned $300 million liquefied natural gas import terminal in Kamsar, to boost regional cooperation on energy, accelerating infrastructure rollout across the country’s entire hydrocarbons sector presents an opportunity to address domestic energy access, affordability and reliability. With Guinea-Conakry’s energy access rate standing at 66% of the population and the government targeting to improve access to clean cooking to 50% of its population by 2025, the hydrocarbons sector has a huge role to play.
AEW 2022 will provide the perfect platform for Guinea-Conakry to learn and replicate best oil and gas market best practices from both leading African hydrocarbon markets such as Nigeria, Equatorial Guinea and Angola, and emerging markets such as Mozambique and Namibia.
“The African Energy Chamber is honored to be hosting Mr. Aly Seydouba Soumah at African Energy Week this October in discussions centered around how both the country and Africa can attract investments across the oil and gas upstream sector to address energy poverty. The Chamber commends efforts by Guinea-Conakry on regulatory, institutional and infrastructure fronts to prepare the country for an oil and gas market boom,” states NJ Ayuk, the Executive Chairman of the African Energy Chamber (AEC).
At AEW 2022, Mr. Aly Seydouba Soumah will participate in ministerial and investment forums where he will make a strong case on boosting upstream activities and investments.
The Minister will participate in high-level meetings and panel discussions focusing on the role of oil, gas and renewables in fast-tracking the diversification of the country’s energy mix for security and reliability.
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.