The African Energy Chamber (AEC), the voice of the African energy sector, has announced the participation of Dr Matthew Opoku Prempeh, the Minister of Energy, at the Invest in African Energy event scheduled for 30 March at the Ritz-Carlton in Dubai.
Aimed at unlocking next-generation energy sector growth for Africa through improved cooperation on investment and industry know-how between United Arab Emirates (UAE) and African energy stakeholders, the Invest in African Energy Dubai edition will unite African energy policymakers, investors and companies with their UAE counterparts to discuss market challenges and opportunities while signing industry changing deals.
Representing one of Africa’s hydrocarbon giants – with proven reserves in excess of 1.035 billion barrels of oil and 1.72 trillion cubic feet of gas – the participation of Dr Opoku Prempeh at the event is crucial for showcasing gas projects, electrification initiatives and the massive opportunities present for UAE energy investors across the West African country’s entire energy value chain.
While Ghana ranks among Africa’s top countries with the highest energy access rate at over 90%, efforts by the government to achieve universal energy access for all by 2025, as part of the National Electrification Program, has opened up new opportunities for global investors across the power industry.
On the gas front, Ghana is speeding up the development of infrastructure and resources to secure energy supply with the Ghana National Gas Company signing a deal for the construction of a second gas processing plant with a capacity of 150 million standard cubic feet per day in early February 2023.
In the oil sector, the government is working with various stakeholders including Tullow Oil to maximize exploration and production as part of efforts to enhance resource exploitation and monetization to meet local, regional and global energy needs while driving economic growth.
With three offshore basins and one onshore basin currently hosting exploration and production activities, 12 operators present with 14 petroleum agreements, 30 discoveries having being made since 2007 – the latest of which was in 2022 – and approximately 70 oil blocks available for licensing, Ghana’s oil and gas industry is well positioned for growth and guarantees massive return on investment for global investors. In addition, a simple and attractive energy regulatory framework makes Ghana a secure investment destination for global investors.
Stepping into this picture, the Invest in African Energy event in Dubai represents the ideal platform for Hon. Dr Prempeh to network with UAE oil and gas firms and investors to discuss partnership opportunities crucial to enhancing Ghana’s oil and gas investments and development. By directing both capital and expertise to Ghana’s growing energy value chain, the UAE will play a key role in unlocking a new era of oil and gas development.
Meanwhile, Ghana is fast-tracking the deployment of wind and solar to accelerate the diversification of the energy mix for energy reliability and environmental sustainability as part of the country’s National Energy Transition Framework. With UAE firms and government institutions representing some of Africa’s most reliable and leading project developers and investors, and Ghana seeking investments to maximize its just energy transition agenda – ensuring renewables account for 10% of the energy mix by 2030 and 20% by 2070 – the Invest in African Energy event in Dubai presents an opportunity for Hon. Dr Prempeh to secure reliable UAE partners and investment to boost Ghana’s renewables penetration.
“The Chamber is pleased to host Hon. Dr Matthew Opoku Prempeh at the Invest in African Energy Dubai event where the minister will showcase Ghana’s massive yet largely untapped oil, gas and renewable energy potential to UAE and global energy investors.
“Both the UAE and Ghana have proved their commitment to driving energy security and industrialization on the back of optimal hydrocarbons exploitation while accelerating renewables deployment.
“As such, it makes sense for the two to improve cooperation regarding expertise sharing as well as energy investments and project implementation. This is what the Invest in African Energy event in Dubai will focus on,” stated NJ Ayuk, the Executive Chairman of the AEC.
At the Invest in African Energy Event in Dubai, Dr Matthew Opoku Prempeh will participate in high-level discussions and exclusive networking forums to promote opportunities within Ghana’s energy environment for UAE companies.