The African Energy Chamber (AEC), the voice of the African energy sector, has announced the attendance and participation of Ghana’s National Petroleum Authority Chief Executive, Dr. Mustapha Abdul-Hamid, in the African Energy Week (AEW) conference and exhibition, which will be held in Cape Town from October 18 to 21, 2022.
Dr. Abdul-Hamid will lead a delegation from NPA at Africa’s premier oil and gas industry event, driving critical discussions around boosting investment across the downstream sector, strategies for improving energy security, making energy poverty history, and driving socioeconomic development on the back of oil and gas.
Established with the aim of regulating the petroleum downstream industry in Ghana, the NPA governs commercial activities across the sector including the importation and refining of crude oil as well as the sale, marketing, and distribution of refined petroleum products. Since its establishment in 2005, the NPA has prioritized efficiency and productivity regarding Ghana’s downstream sector, paving the way for increased investment as well as the participation of the private sector, resulting in the growth of the market into a $2 billion industry, which represents about 6% of the country’s GDP.
Under the leadership of Dr. Abdul-Hamid, the NPA continues to optimize operations across the oil and gas downstream sector through supervising the acceleration of storage and transportation infrastructure whilst ensuring fair energy trading as the country seeks to become a regional energy hub. With energy poverty increasing across the African continent due to various issues including limited investment in the hydrocarbons sector, the COVID-19 pandemic and global geopolitical tensions, Ghana is one of the African countries at the forefront of maximizing the exploitation of hydrocarbons to address energy access, affordability and reliability constraints.
Ghana’s 0.8 trillion cubic feet (tcf) of gas reserves and 660 million barrels of oil reserves provide an opportunity for the country to address its energy problems and achieve its 2030 target of 100% universal access to electricity. While efforts to maximize the exploitation of local energy resources are underway, the NPA has managed to leverage Ghana’s strategic location, positioning the country as a reliable regional point for energy exportation whilst additionally taking advantage of petroleum imports to secure energy supply and drive economic growth.
At AEW 2022, Dr. Abdul-Hamid will promote investment opportunities across Ghana’s downstream sector, discussing the vital role Africa’s 600 tcf of gas reserves and 125.3 billion barrels of crude oil reserves will play in diversifying the energy mix, securing energy supply and lifting the over 600 million Africans out of energy poverty whilst driving industrialization and positioning the continent ahead of the energy transition.
With African countries optimizing gas production to drive these socioeconomic benefits, Ghana is leading the race, with the country implementing a series of market-driven policy reforms, driving massive oil and gas infrastructure projects. With the NPA overseeing these energy optimization projects including the development of gas processing, storage, transmission and distribution, at AEW 2022, Dr. Abdul-Hamid will provide an update on experiences and innovations from within Ghana that can be replicated continent-wide.
“The Chamber is honored to host Dr. Mustapha Abdul-Hamid at AEW 2022 as we expand on the discussion around how Africa can accelerate investment as well as the exploitation of oil and gas to enhance energy security. The strengthening of Africa’s downstream industry is key to ending energy poverty and for enhancing bilateral trade relations and boosting economic development in Africa,” states NJ Ayuk, Executive Chairman of the AEC, adding that, “We are very impressed with Dr. Abdul-Hamid’s leadership at the NPA in facilitating a resilient downstream sector. This is what Africa needs to achieve energy independence and reliability.”
As the global focus shifts towards cleaner and sustainable energy, the NPA firmly believes in the need to strengthen energy security in Africa, specifically through the maximization of the continent’s oil and gas, so that self-reliance is achieved, and economic development ensured, while at the same time providing capacity to prospect and develop future alternatives. At AEW 2022, Dr. Abdul-Hamid will participate in high-level meetings and panel discussions to drive dialogue around boosting the oil and gas downstream industry for energy security whilst promoting investment opportunities within Ghana’s hydrocarbons sector.