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Rystad Launches Cape Town Office During AEW
Energy intelligence firm Rystad Energy launched its new office – it’s first African based office – in Cape Town on the sidelines of the African Energy Week (AEW): Invest in African Energies 2024 conference on Monday.
The office falls under efforts by Rystad to expand its global footprint and contribution to Africa’s energy industry.
Per Magnus Nysveen, Senior Partner and Head of Analysis at Rystad, emphasized the strategic choice of South Africa, citing the country's well-developed energy value chain, abundant natural resources and strong investor presence.
"South Africa is the economic engine of the continent," said Nysveen. "Cape Town, in particular, is a hub for industry and investors, making it an ideal location for us to establish our presence."
The Cape Town office aims to enhance data transparency by providing detailed and granular insights to support better-informed decision-making within the industry, Nysveen noted.
He said Africa needs to maximize the use of its entire natural resources - including oil, gas and renewables - and the new office will play a pivotal role in promoting resource development, oil and gas licensing rounds and renewable energy opportunities to global investors.
NJ Ayuk, Executive Chairman of the African Energy Chamber, endorsed Rystad’s expansion into Africa, stating, "Rystad’s presence underscores the continent’s importance on the global energy map."
Ayuk highlighted the continent’s commitment to oil and gas while recognizing the role of data-driven insights in fostering sustainable economic growth. He said "There is nothing more powerful than informed decisions. Africa will benefit greatly from firms like Rystad that are here to stay and contribute to our future."