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Major Developments and Strategic Insights from the Invest in Africa 2024 Forum

The Invest in Africa 2024 Forum, held in Paris, has emerged as a pivotal event for shaping the future of Africa’s energy sector. This comprehensive report delves into the transformative projects and strategic policies discussed, poised to redefine energy production and investment across the continent.

Senegal’s Ambitious Offshore Oil and Gas Projects

Senegal is on the cusp of a major transformation in its energy sector with the imminent production start at the Sangomar oilfield, the country’s first offshore oil development. According to Thierno Seydou Ly, Director General of Petrosen, the project is nearing completion with first oil expected in the coming days. “This marks a significant milestone for Senegal, set to change the industry landscape with a production capacity of 100,000 barrels per day,” Ly stated at the forum.

Beyond oil, the Greater Tortue Ahmeyim (GTA) project is another cornerstone of Senegal’s strategy to enhance its energy profile. Slated to begin output this year, the GTA project is expected to produce 2.3 million tons of liquefied natural gas (LNG) annually, with plans to increase this to 10 million tons by 2030/2032. Ly elaborated on the dual utility of the project: “The concept involves LNG production primarily for export, while also catering to domestic market needs through our gas-to-power strategy.”

These initiatives reflect Senegal’s broader ambitions to not only boost its energy output but also to set a precedent for effective resource utilization that could inspire similar developments in neighboring countries.

Nigeria’s Strategic Licensing Round and Downstream Expansion

In a significant move to attract investment and increase production, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has relaunched Nigeria’s 2024 licensing round. This round includes 12 offshore and shallow water blocks, with Dr. Kelechi Ofoegbu, NUPRC Executive Commissioner, emphasizing the government’s commitment to a “fair, competitive, and transparent process.”

Simultaneously, Nigeria is prioritizing the expansion of its downstream sector. Notable projects include the Train 7 expansion at the Nigeria LNG plant, which aims to boost LNG production capacity to 30 million tons per year by 2027, and the operational commencement of the 650,000-bpd Dangote Refinery. These projects are crucial for enhancing Nigeria’s refining capacity and establishing a more robust intra-African oil and gas industry.

Egypt and Morocco’s Integrated Energy Policies

Egypt is considering a significant restructuring by merging its petroleum and renewable energy ministries into a single Ministry of Energy. This merger aims to streamline operations and enhance the efficiency of regulatory processes. Mohamed Fouad, CEO of Egypt Oil & Gas, highlighted the strategic intent: “By integrating our energy ministries, we aim to foster a more cohesive policy environment that supports sustainable development and attracts investment.”

Morocco, already a leader in renewable energy, is further solidifying its energy strategy by balancing renewable sources with gas to ensure reliable baseload power. Adonis Pouroulis, CEO of Chariot Energy Group, noted, “While we are aggressive in our renewable energy efforts, hydrocarbons remain essential for maintaining energy stability and supporting continuous power supply.”

Additionally, Morocco is advancing significant cross-border projects such as the Nigeria-Morocco Gas Pipeline. This ambitious initiative aims to connect Nigerian gas fields to European and North African markets, traversing 11 West African countries. The project not only underscores Morocco’s commitment to regional energy cooperation but also highlights the potential for infrastructure to catalyze broader economic benefits across the continent.

Regional Collaboration and Infrastructure Development

The forum also spotlighted the importance of regional collaboration and infrastructure development in unlocking the energy sector’s potential. For instance, initiatives like the Nigeria-Morocco Gas Pipeline are pivotal in enhancing energy accessibility and market integration across West Africa, which can lead to increased economic activities and improved energy security.

Libya’s strategy to increase oil production to two million barrels per day within the next three years through greenfield and brownfield projects demonstrates another aspect of regional growth. The increased production capacity is expected to require enhanced insurance and risk management services, as noted by Zakaria Albarouni, General Manager at Al Baraka Insurance. “Our tailored energy solutions are designed to support the industry’s growth by ensuring that both onshore and offshore developments are adequately protected,” Albarouni stated.


The discussions at the Invest in Africa 2024 Forum underline a transformative period for Africa’s energy sector. With nations like Senegal and Nigeria spearheading significant offshore developments and others like Egypt and Morocco innovating through strategic policy integrations, these initiatives are transforming their respective energy landscapes and setting a dynamic pace for Africa’s collective energy future. The commitment to strategic project implementation, regulatory enhancement, and international cooperation showcased at the forum is paving the way for a sustainable and prosperous energy sector across Africa.

Shaping Africa’s Future at the Energy Transition Centre

As we embark on a critical journey towards a sustainable energy future, your involvement is crucial. The Energy Transition Centre at CLG is at the forefront of transforming Africa’s energy landscape, advocating for an energy mix, including renewable energy adoption to foster economic growth and improve quality of life. We invite you to join us in this essential mission. Whether you’re an industry expert, a policy maker, or a concerned citizen, your contribution can make a significant difference. For guidance, insights, or to share your ideas, feel free to contact the Energy Transition Centre today with questions:

Together, we can shape a brighter, more sustainable future.

Author: Memoona Tawfiq