The Namibia Oil & Gas Conference (NOGC), an eagerly awaited event in the oil and gas industry calendar, will be returning to the capital city, Windhoek from August 20-22. Hosting distinguished industry leaders, the conference aims to serve as an essential platform for the advancement of Namibia’s oil and gas sector, fostering discussions and collaborations among stakeholders that can propel the industry towards a bright future.

Under the theme “The Next Step Towards a Prosperous Oil and Gas Industry to Power Namibia’s Sustainable Future”, the 2024 Namibia Oil & Gas Conference is set to offer unprecedented opportunities for investors, both local and international, to cultivate valuable connections, create strategic partnerships, and solidify agreements.

Attracting more than 700 attendees, the conference programme boasts a lineup of over 60 preeminent speakers from both Namibia and beyond, promising to deliver a highly engaging and informative experience.

At the conference, the expert speakers will discuss the critical issues facing Namibia’s oil and gas sector, providing comprehensive analysis and valuable insights on topics like the current state of the upstream and downstream sectors, local content development, infrastructure and logistics, Namibia’s position in the global oil and gas market, procurement transparency, and human capital development.

This year’s conference is set to raise the bar with the addition of pre-conference workshop sessions that are designed to build the skills and knowledge of participants in the oil, gas, and energy sectors. 

Adding to the conference’s illustrious lineup of speakers is Ejike Egbuagu, the group chief executive officer of Moneda Invest Africa. The financial and investment expert’s vast experience and expertise in project financing will provide attendees with valuable insights on the intricacies of project financing within the oil and gas industry.

Egbuagu emphasised the critical importance of attending the NOGC, stating, “Attending the Namibia Oil and Gas Conference is instrumental in contributing to the success of the nascent oil and gas industry in Namibia. It is imperative to engage in discussions that not only ensure value creation but also its retention. The conference will address essential topics such as local content participation, funding mechanisms, technical upskilling, and their collective impact on Namibia’s sustainable future.”

Egbuagu further elaborated on best practices in oil sector financing, advocating for a multi-faceted approach. He outlined several key principles including:

Inclusivity: The growth of the industry and the nation’s economy hinges on broad-based participation. Securing funding for SMEs, locally owned enterprises, and women-led businesses is vital to fostering widespread involvement and economic development.

Unrestricted funding: Oil and gas projects are inherently capital-intensive. Traditional collateral-based financing models can inhibit the participation of entrepreneurs, particularly SMEs. To enable effective involvement in this critical sector, it is essential to adopt financing models that do not constrain growth potential.

Flexible financing: Each project possesses unique characteristics and requirements. Financiers must develop a profound understanding of the industry and its technical aspects to tailor financing solutions that address specific project needs, mitigate risks, and optimise returns.

Drawing on his experience in Nigeria, Egbuagu highlighted the potential for cross-border projects to attract increased investor interest, despite regulatory complexities.  He expressed optimism regarding the Africa Trade Agreement’s capacity to streamline such projects, citing the recent successful initiation of a project commercialising aluminium in Cameroon, facilitated by the African Continental Free Trade Area (AFCFTA).

He explained, “This endeavour involved transporting aluminium produced by Alucam in Cameroon to Algeria for the manufacture of electrical cables. I hope that similar projects will emerge, fostering a more integrated and conducive business environment across Africa.”

Source: Business AM Live