The African Energy Chamber and the World Petroleum Council, Canada have signed a memorandum of understanding which will see the parties jointly conduct industry white papers and webinars as well as support one another’s energy conferences

The African Energy Chamber (AEC) is proud to announce that it has signed a Memorandum of Understanding (MoU) with the World Petroleum Council (WPC), Canada - the Canadian Association of the WPC – which will see both parties cooperate on maximizing the sustainable development, exploitation and monetization of oil and gas resources to ensure energy security and economic growth across both Africa and Canada.

The MoU, signed by Denis Painchaud, President and CEO of the WPC Canada, and NJ Ayuk, the Executive Chairman of the AEC, on behalf of the two non-governmental organizations during the 2022 edition of the African Energy Week (AEW) conference and exhibition – Africa’s biggest gathering for energy policymakers, companies and investors which ran from October 18 – 21 in Cape Town – allows the two parties to collaborate on information dissemination as well as in developing and implementing best practices for energy stakeholders to optimize hydrocarbon market developments.

Under the terms of the MoU, the AEC and WPC Canada will support and promote each other’s conferences, exhibitions and forums including AEW 2023 and the World Petroleum Congress 2023 to their members and via various platforms such as websites, social media channels and other discussions. The two will identify potential delegates, exhibitors and partners for their various forums and conferences with the aim of uniting industry stakeholders for the development of innovative solutions, policies and business cases to address critical market challenges, including a lack of adequate investments, global energy transition-related policies, the increasing infrastructure rollout gap and continued declines in exploration and production activities which continue to disrupt industry expansion.

What’s more, the MoU will see both the AEC and WPC Canada collaborate on papers and webinars to promote their respective conferences as well as any other areas of collaboration the parties agree upon.

With both Canada and Africa seeking to maximize the development and exploitation of vast, untapped hydrocarbon reserves - including Africa’s estimated 125.3 billion barrels of crude oil and 620 trillion cubic feet of gas reserves - to drive socioeconomic development, gross domestic product growth, global energy security and industrialization, partnerships such as the MoU between the AEC and WPC Canada will be crucial for helping the industry embrace and maximize market opportunities.

The MoU, signed by Denis Painchaud, President and CEO of the WPC Canada, and NJ Ayuk, the Executive Chairman of the AEC, on behalf of the two non-governmental organizations during the 2022 edition of the African Energy Week (AEW) conference and exhibition – Africa’s biggest gathering for energy policymakers, companies and investors which ran from October 18 – 21 in Cape Town – allows the two parties to collaborate on information dissemination as well as in developing and implementing best practices for energy stakeholders to optimize hydrocarbon market developments.

Under the terms of the MoU, the AEC and WPC Canada will support and promote each other’s conferences, exhibitions and forums including AEW 2023 and the World Petroleum Congress 2023 to their members and via various platforms such as websites, social media channels and other discussions. The two will identify potential delegates, exhibitors and partners for their various forums and conferences with the aim of uniting industry stakeholders for the development of innovative solutions, policies and business cases to address critical market challenges, including a lack of adequate investments, global energy transition-related policies, the increasing infrastructure rollout gap and continued declines in exploration and production activities which continue to disrupt industry expansion.

What’s more, the MoU will see both the AEC and WPC Canada collaborate on papers and webinars to promote their respective conferences as well as any other areas of collaboration the parties agree upon.

With both Canada and Africa seeking to maximize the development and exploitation of vast, untapped hydrocarbon reserves - including Africa’s estimated 125.3 billion barrels of crude oil and 620 trillion cubic feet of gas reserves - to drive socioeconomic development, gross domestic product growth, global energy security and industrialization, partnerships such as the MoU between the AEC and WPC Canada will be crucial for helping the industry embrace and maximize market opportunities.