NJ Ayuk Advocates for Increased Oil Production in Africa

NJ Ayuk, the Executive Chairman of the African Energy Chamber (AEC), called on African governments to accelerate oil and gas exploration and expand energy infrastructure to combat energy poverty and enhance economic development. Speaking at the African Energy Week, he advocated for an “all-of-the-above” energy strategy that includes oil, gas, and renewable sources to meet the continent's energy needs.

Ayuk stressed the importance of resisting external pressures to leave hydrocarbon resources undeveloped, noting that millions lack reliable electricity. He projected Africa's hydrocarbon production to reach 11 million barrels of oil equivalent per day in 2026, increasing to 12.5 million barrels by 2030.

Major contributors identified include Nigeria, Algeria, Angola, Libya, and Egypt. Ayuk highlighted the need for Nigeria to reform deepwater fiscal and contractual terms to attract investment.

He also urged South Africa to address regulatory obstacles in the Orange Basin and emphasized the potential in frontier basins like Sierra Leone, Liberia, and The Gambia.