(MENAFN- African Press Organization)
The African petroleum Producers Organization (APPO) has reappointed Dr. Omar Farouk Ibrahim as its Secretary General during the APPO Ministerial Council Session held in Luanda, Zambia, a move that will usher in a new era of growth across the continent's hydrocarbon industry.
The African energy Chamber (AEC), as the voice of the African energy sector, congratulates Dr. Farouk for his re-appointment and strongly supports the move made by the APPO as it will catalyze the African oil and gas industry expansion.
With Dr. Farouk bullish around the development and exploitation of Africa's vast, untapped oil and gas resources to address growing energy poverty and drive socioeconomic developments since his first appointment as the Secretary General of APPO in January 2020, his reappointment is good news for the African continent as energy-producing countries seek reliable pan-African institutions and partners such as the APPO in maximizing oil and gas developments for energy security.
Under the leadership of Dr, Farouk, the APPO has led a series of positive developments across the continent's entire oil and gas value chain.
With energy transition-related policies disturbing the flow of investments to boost African oil and gas developments, APPO, under the leadership of Dr. Farouk, has remained a reliable solution with the institution continuing to provide the much-needed funding through the Africa Energy Investment Corporation. And now, with Africa seeking to maximize the use of local financial solutions to make energy poverty history, APPO, in partnership with the Africa Export-Import Bank (Afreximbank) are creating the African Energy Transition Bank to address financing challenges of oil and gas projects in partnership with the private sector.
In addition, with the continent expanding its oil and gas reserves to address declines in production due to natural diminishes in legacy projects, Dr Farouk has led APPO member countries including the Democratic Republic of Congo, Algeria and Angola in launching a series of licensing rounds aimed at attracting more upstream companies and investments.
Furthermore, whilst limitations in regional oil and gas infrastructure have restrained energy trading by and amongst African producing countries and APPO members, APPO, under the leadership of Dr. Farouk has vowed to change this with the organization strongly supporting the development of massive projects such as the Central African Pipeline Construction Project and the Trans-Saharan Gas Pipeline.
Moreover, with Africa pushing ahead the local content agenda as oil and gas industry expands, APPO, under the direction of Dr. Farouk is spearheading various initiatives aimed at maximizing skills development and knowledge and expertise sharing between African National Oil and Gas Companies as well as Energy and Hydrocarbon Ministries.
“The Chamber congratulates Dr. Farouk for his reappointment as Secretary General of the APPO. We believe as Africa seeks to take ownership of its oil and gas industry, forces like Dr. Farouk are critical to ensure Africa's voice and concerns are heard. We commend Dr. Farouk for his extensive commitment to helping Africa embrace energy transition opportunities and address related challenges,” stated NJ Ayuk, the Executive Chairman of the AEC.
As the energy transition takes center stage, the reappointment of Dr. Farouk as Secretary General of APPO will drive in a new era of opportunities across Africa's oil and gas industry and will help ensure the transition in Africa is just, inclusive and drives the continent's socioeconomic developments.
Distributed by APO Group on behalf of African Energy Chamber.
Media files