H.E. Mohamed Aoun, Minister of Oil and Gas of Libya
The African Energy Chamber (AEC) is honored to announce the confirmation of H.E. Mohamed Aoun, Libya’s Minister of Oil and Gas, at the continent’s premier energy event, African Energy Week (AEW) 2021. Uniting Africa’s top oil and gas Ministers under one comprehensive and market-driven program agenda, AEW 2021 represents the ideal platform where the discussion on the future of hydrocarbons in Africa will be made. In line with the event’s objective of ensuring Africa’s hydrocarbon resources are fully utilized to make energy poverty history by 2030, H.E. Mohamed Aoun will lead a strong discussion on Libya’s energy potential, ongoing regulatory reforms, and its strategic value within global energy markets.
Representing one of Africa’s top oil producing nations, and a sector that has seen significant reform in 2021, Libya has garnered interest from global players due to the recent return to stability under the Government of National Unity. With the Ministry having been restored this year, Libya is poised to experience accelerated energy sector investment and development, driven by sector alignment and integration.
Libya’s oil reserves are estimated at over 43 billion barrels, placing the country as the ninth largest reserve holder worldwide. Additionally, the country boasts over 1 trillion cubic meters of natural gas reserves, positioning Libya as a hydrocarbon hotspot. Despite ongoing struggles to revive the sector, the country has managed to maintain production levels by above 1 million barrels per day. With ambitious plans to significantly scale up production and refining capacity, the Ministry is focused on attracting significant levels of investment in the sector. Accordingly, led by H.E. Aoun, Libya will be coming to AEW 2021 to promote the potential of Libya’s energy resources, making a strong play for investment and regional collaboration.
Libya’s energy sector revival will not only bring significant benefits for the population but will open new and improved export opportunities to global markets. Attributed to the country’s strategic position, and direct network chain to European markets, the country is well positioned to enhance Africa’s export potential and drive global supply.
“Libya coming to AEW 2021 in Cape Town is huge, not just for the event itself, but for African and global stakeholders. The country represents both an impressive energy sector, with some of the best reserves worldwide, as well as the most strategically important markets for Africa. By coming to AEW 2021, H.E. Aoun will be able to take advantage of the significant networking opportunities, engage with global players, and further promote Libyan oil and gas as the driving force of Africa’s energy future,” stated NJ Ayuk, Executive Chairman of the AEC.
Led by H.E. Aoun, the Ministry has redirected its focus on restoring Libya’s oil and gas sector to pre-war progress, with recent regulatory reforms seen as the driving force of enhanced investment and international oil company participation. With extensive experience across multiple levels of the energy sector, as well as within the National Oil Corporation and global oil major Eni, H.E. Aoun will be a critical leader and instrumental figure in Libya’s oil and gas sector for years to come. With a focus on holding bilateral meetings, engaging with international energy players, and signing deals that will fast track Libya’s energy transformation, H.E. Aoun will not only be a valuable participant in Cape Town, but will take a leading role in driving the continent’s energy growth.
AEW 2021, in partnership with South Africa’s Department of Mineral Resources and Energy DMRE, is the AEC’s annual conference, exhibition and networking event. AEW 2021 unites African energy stakeholders with investors and international partners to drive industry growth and development and promote Africa as the destination for energy investments.
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