PETAN is excited about Shell’s $5.5 billion Bonga North deepwater project, other FIDs in Africa

By ENGR. WOLE OGUNSANYA

On behalf of the Petroleum Technology Association of Nigeria (PETAN), it is my honor to welcome you to the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) 2025.

We are delighted to host this premier event which brings together the best minds and expertise in the oil and gas industry from around the world.

As we gather here today for the 9th edition, we recognize the critical role that the oil and gas sector plays in driving economic growth, energy security, and sustainable development in our region.

Over the next few days, we will engage in thought-provoking discussions, share knowledge, and explore innovative solutions to the challenges facing our industry.

PETAN, as a think-tank organization, has been keenly following industry trends, and have carefully selected the theme and sub-themes of this conference to help shape an even more positive energy outlook for Africa in tandem with our vision to deepen collaborations with governments and critical stakeholders in navigating the next phases of the oil and gas sector that holds the key to the growth and development of our national and regional economies.

This is why we shall be hearing from critical industry stakeholders, amongst which is the African Petroleum Producers Organization (APPO), to give insights on what is seen to be the most pressing issue facing the continent’s energy sector, – financing and other challenges. We are excited that international investors, development banks and private equity firms have shown a steadfast interest in the African energy market and the launch of the Africa Energy Bank by the African Export-Import Bank and APPO, was a key milestone that marked the creation of a first-of-its-kind institution designed to fund and facilitate energy initiatives across the continent with head office in Nigeria. I thank the Honorable Ministers of State and the Government for this laudable milestone.

As technical and professional service providers that have just marked three decades of excellence in the oil and gas industry, PETAN is excited about several final investment decisions that have been successfully closed, including Shell’s $5.5 billion Bonga North deepwater project as well as back home, the recent award of construction license to Nigeria’s UTM FLNG as well as the awarding of ten licenses for gas distribution across clusters by the NMDPRA. We also acknowledge notable developments in natural gas exploration and LNG exports with Senegal’s Greater Tortue Ahmeyim LNG reaching its first gas production, and the Republic of Congo’s first LNG exports to Italy from the Congo LNG project.

We applaud South Africa, Egypt, and Morocco who are at the forefront of wind and solar energy development, the African continent has what it takes in – human and resources – capacity to exploit the huge abundance of energy sources that we are naturally endowed with.

We are encouraged by the strategic partnershipsthat we are forging, including new PSCs signed by Panoro Energy in Equatorial Guinea and BW Energy in Gabon, highlighting how international collaborations are accelerating energy development and creating new opportunities for exploration and production – the driving force behind this ever expanding conference that we are so proud of hosting for the past nine years.

Our continued and increased engagements are key to addressing the gaps that have long hindered the growth of Africa’s energy sector.

I would like to express my gratitude to our sponsors, exhibitors, and speakers for their support and contributions to this event in our continued quest for sustainable energy solutions by Africans, in Africa, for Africans.

To our international guests, we extend a warm welcome to Nigeria and to the SAIPEC community. We look forward to learning from your experiences and sharing our own perspectives with you. Let us continue to work together to shape the future of the oil and gas industry in Sub-Saharan Africa.