July 19, 2024
GEPetrol MD Teresa Isabel Nnang Avomo to Lead Investment Dialogue During AEW 2023
– By Godswill Odiong

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African National Oil Companies (NOC) are playing a much larger role in Africa’s energy sector, representing competitive operators and partners in their own right. Companies to the likes of GEPetrol, Equatorial Guinea’s NOC, continue to be instrumental in unlocking the true potential of both on- and offshore energy markets, and are gradually positioning themselves as the energy companies of the future in Africa. This year’s African Energy Week (AEW) conference – scheduled for October 16-20 in Cape Town – is proud to host GEPetrol Managing Director Teresa Isabel Nnang Avomo as a keynote speaker, where she will drive discussions around Equatorial Guinea’s market potential, investment opportunities, the role NOCs play in Africa’s future and strategies for advancing the participation and contribution of women in Africa’s oil and gas industry.

Representing the first female to be appointed Managing Director of GEPetrol, Avomo brings to the position a wealth of experience in the oil and gas industry. Prior to her role as Managing Director, Avomo served as Deputy Director of Operations at the NOC, a role in which she was instrumental in directing and optimizing the company’s upstream operations and business across the entire hydrocarbons value chain. Under her leadership, GEPetrol is well positioned to amplify upstream developments, with the NOC working closely with a series of international energy companies and independents to expand both the domestic and regional energy sector.

Avomo’s appointment at GEPetrol could not come at a better time, both for the company and the country at large. With Equatorial Guinea’s Gas Mega Hub (GMH) – a multi-faceted initiative that aims to monetize regional gas resources, connecting offshore basins to the country’s onshore Punta Europa facility – making progress, the country is consolidating its position as a regional processing hub and major global exporter. Recent agreements under the GMH include a Heads of Agreement signed with Marathon Oil Corporation for the second and third phases of the initiative as well as a cooperation deal inked with neighboring Cameroon for the joint development of shared offshore basins. GEPetrol, alongside its project partners, are also progressing with drilling at both existing and new oilfields with the aim of unlocking new finds and addressing natural declines in legacy fields.

Notwithstanding upstream progress, GEPetrol continues to be an advocate for local content and regional collaboration. The NOC serves as a benchmark for how other NOCs in Africa can both up-skill and re-skill the local workforce in line with industry demands and social impact. Equatorial Guinea has cooperation agreements in place with Namibia, Nigeria, Cameroon and others, and works closely with its regional neighbors to advance local content and capacity building.

In addition to local content, GEPetrol works to enhance the contributions of women in the oil and gas industry. Avomo’s appointment is both a testament to her skillset and leadership in the industry and to the company’s commitment to improve inclusivity in the oil and gas workforce. As an advocate for women in oil and gas, and a mentor herself, Avomo is bound to play an instrumental part in narrowing the gender gap and ushering in a wave of innovation on the back of gender diversity.

“The AEC is proud to host Teresa Isabel Nnang Avomo at this year’s AEW 2023 conference. We were excited to witness her appointment as Managing Director of GEPetrol and look forward to the work she will continue to do in Equatorial Guinea. Avomo is a true example of the role and need for more women in leadership positions across the African energy sector. Her contributions to both the NOC and the wider market have been invaluable. Equatorial Guinea is on the precipice of realizing its goals of becoming a regional hub and global exporter. With Avomo at the head of the NOC, we are confident that the country will witness one industry success after another,” states NJ Ayuk, Executive Chairman of the AEC.

During AEW 2023, Avomo will lead dialogue around upstream investments, natural gas in Africa, as well as local content and women in energy. Her contributions towards panel discussions, NOC forums and investor summits will not only improve an understanding of the progress and opportunities in Equatorial Guinea’s energy sector but will advance dialogue and decisions around Africa’s energy future.

AEW is the AEC’s annual energy event that unites African policymakers and NOCs with global investors and project developers, under the theme, ‘The African Energy Renaissance: Prioritizing Energy Poverty, People, the Planet, Industrialization and Free Market.’ AEW 2023 takes place in Cape Town and is proud to represent the biggest gathering of African energy and petroleum ministers, NOCs and energy companies in Africa.

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