Chad’s energy sector is gradually growing thanks to heightened interest by foreign players, a favorable investment climate and a committed National Oil Company (NOC). As the market expands, investment opportunities are opening up, and Éric Ndoassal, Director General of the NOC, Société des Hydrocarbures du Tchad (SHT), will provide insight into these prospects during the upcoming African Energy Week (AEW) conference - Africa’s premier event for the energy sector, scheduled for 16 – 20 October in Cape Town. The event, hosted by the African Energy Chamber (AEC) (www.EnergyChamber.org), will provide a platform for Ndoassal to showcase Chad's hydrocarbon sector, foster dialogue and enhance investment opportunities across the country.
As the Director General of SHT, Ndoassal plays a critical role in advancing Chad's oil and gas sector. His responsibilities include overseeing the operations of the company, developing and implementing policies and strategies to support the exploration, production and export of oil and gas resources, and maintaining positive relationships with government agencies and other stakeholders. Chad has set its sights on becoming a major player in the global oil market, and Ndoassal's participation at the AEW is crucial in achieving this objective. Despite facing challenges such as political instability, inadequate infrastructure and lack of human capital, Chad has made significant strides in recent years to diversify its economy and boost its oil production and exports.
Recently, Chadian Ministry of Hydrocarbons and Energy, through the SHT led by Ndoassal, has acquired Malaysian Energy Group Petronas' upstream and intermediate oil interests. This agreement involves transferring interests to the Doba oil field consortium as well as the Chad Oil Transportation Company and Cameroon Oil Transportation Company, which oversee the Chad-Cameroon pipeline. This acquisition allows Chad to increase its control over vital oil assets, which are crucial for the country's economy and national stability. Through close collaboration between SHT and Chadian authorities, it is expected that this acquisition will stimulate economic development and improve living conditions for the Chadian population in the years to come. By assuming full control over these assets, the country asserts its sovereignty over its oil industry and creates opportunities for more efficient utilization of its natural resources.
Meanwhile, the development of infrastructure also stands as a crucial aspect for the growth of Chad's oil and gas sector. Under Ndoassal's guidance, SHT oversees the construction of pipelines, refineries and transportation networks essential for the efficient transportation and processing of crude oil from Chad's oilfields to various destinations. Given Chad's landlocked location, the implementation of advanced pipeline systems is of utmost importance to ensure smooth international and regional crude oil exports.
Attracting foreign investors is key to Chad's success as a major oil producer, and Ndoassal is responsible for driving initiatives aimed at creating a stable and predictable regulatory environment that encourages long-term investments. By fostering relationships with international oil companies and regional explorers, Chad can strengthen its capacity building and increase the chances of project success.
“As Chad seeks to unlock the full potential of its hydrocarbon sector, Ndoassal's presence at AEW highlights the country's determination to attract investment and drive growth in the energy industry," states NJ Ayuk, Executive Chairman of the AEC, adding that, “Ndoassal's expertise and leadership as the Director General of SHT will undoubtedly contribute to meaningful discussions and strategic partnerships during the event, further positioning Chad as a key player in Africa's energy landscape.”
At AEW, Ndoassal will have the opportunity to showcase Chad's hydrocarbon sector, attract promising investments, and build new relationships with stakeholders, companies and nations. This event will provide a platform for Chad to demonstrate its potential as a key player in Africa’s energy industry and facilitate meaningful discussions on the future of energy in Africa.
AEW is the AEC’s annual conference, exhibition and networking event. AEW 2023 unites African energy stakeholders with investors and international partners to drive industry growth and development and promote Africa as the destination for energy investments. For more information about AEW 2023, please visit https://AECWeek.com/.
Distributed by APO Group on behalf of African Energy Chamber.
