Africa Oil Week sees the strongest presence of Ministers and Government officials
CAPE TOWN, South Africa, Septembr 22, 2022 — H.E. Abdifatah Abdulkadir Adow Hirshabelle, the Minister of Petroleum & Mineral Resources of the State of Somalia, is officially attending Africa Oil Week 2022 on 3-7 October.
Mr. Hirshabelle will be joining over 30 ministers at the event held in the heart of South Africa’s Cape Town. Organised by Hyve Group Plc., Africa Oil Week is the leading Oil and Gas event that promises to bring together leading energy stakeholders to celebrate this year’s theme: Sustainable Growth in a Low Carbon World.
“Africa Oil Week warmly welcomes H.E. Abdifatah Abdulkadir Adow Hirshabelle of the State of Somalia, to this year’s event. Somalia has long been one of the most important partners of the Oil Week and we will continue to support the Federal Government in achieving its goals,” said Paul Sinclair, VP of Energy and Director of Government Relations for Africa Oil Week.
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The government of Somalia is determined to sustainably extract and commercialize its vast deposits of oil and gas. Petroleum Law 2020 has passed through the Parliament of the Federal Government of Somalia both Upper and Lower houses and was signed by the president of the Federal Republic of Somalia.
The new licensing round for seven blocks has the potential to generate much greater revenue for Somalia and its regions. Exploration of an estimated 30 billion barrels of oils and gas reserves may take three to five years, and only afterwards can production begin.
At Africa Oil Week 2022, Somalia will present some of the most compelling data to investors and operators in years. The Somalia government will be at Africa Oil Week to exclusively unveil the true extent of the opportunity in Somalia.
All operators are encouraged to meet the newly formed government at this exciting and exclusive engagement. Some opportunities that may be announced by the Minister of Petroleum & Mineral Resources of the State of Somalia may include lucrative commercial signing bonuses, royalties, revenue share, and a variety of opportunities.
Other countries expected to be in attendance includes Côte d’Ivoire, the Democratic Republic of Congo, and many more.
“Africa Oil Week is dedicated to getting each country’s challenges and needs to be heard on a global stage, as well as giving leaders the chance to network with major energy players to discuss investment and even entering a new market. Global demand for African oil and gas has increased over the last 12 months, which is exactly what we aim to support at AOW,” said Sinclair.