JOHANNESBURG, SOUTH
AFRICA - EQS�- 09 Sep 2019 - Leading African
energy attorney NJ Ayuk is confident that a more equitable and prosperous
Africa is within reach. He outlines the avenues individuals, companies and
governments can pursue to realize that future in his new book, Billions at Play: The Future of African
Energy and Doing Deals.
Among other things, Ayuk believes Africans
need to have better control of their resource wealth--specifically the riches
that lie in the continent's largely unexploited oil and gas basins. At the same
time, he knows Africa is not completely ready to go it alone: the knowledge and
technical prowess of American multinational energy companies are essential to
both exploration and production. In recent years, however, as those businesses
turned their attention to prolific U.S. shale, they've pulled out of
opportunities they consider riskier, and that includes Africa. However, recent
market trends based on regulatory political decisions have proven risky in US
markets. Africa is one of the few investment frontiers left where large margins
can still be realized, and it's time America started taking these opportunities
seriously.
In Chapter 17, American Ingenuity and
African Oil and Gas Potential, Ayuk analyzes those risks, separates fear from
reality, and puts forth strategies for attracting American investment,
including more lucrative production sharing contracts. The result is a formula Ann
Norman, Pioneer Energy's General Manager for Sub-Saharan Africa, supports.
"Like me, Ayuk sees opportunity all around
him, and he realizes that appropriate development will solve many of the
continent's challenges, including power generation," Norman said. "In his
chapter about American ingenuity, he recommends a number of thoughtful
approaches Africa can take to foster American oil and gas investment. For one, Ayuk
advocates looking at investments from the American point of view. Is the
government stable? Has it always honored foreign contracts? Ayuk knows there
are too many competing interests for American dollars for Africa to be able to
overlook any details and still win.
Ayuk also makes a strong case for more
women to join the leadership in Oil and Gas. "He marks this as a priority when
it comes to making Africa taking its true place in the world," Norman said.
Colorado-based Pioneer Energy is working on
solutions to help curb gas flaring in Nigeria and Equatorial Guinea, as well as
other markets in Africa. These efforts have largely been spearheaded by Norman,
who moved to Nigeria to play a more active role in the country's energy
industry. Throughout her career, Norman has been instrumental in introducing
U.S. companies into emerging African markets, as well as showcasing and driving
foreign direct investment in Africa, particularly in the healthcare, energy and
infrastructure spaces.
NJ Ayuk is founder and CEO of Pan-African
corporate law conglomerate, Centurion Law Group (https://CenturionLG.com/);
Founder and Executive
Chairman of the African Energy Chamber (https://EnergyChamber.org/); and
co-author of Big Barrels: African Oil and Gas and the Quest for Prosperity
(2017).
He is recognized as one of the foremost
figures in African business today.
Billions at Play: The Future of African
Energy and Doing Deals is now available for
pre-order on Amazon. Order your copy today.
https://amzn.to/2kClffJ
�
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