Sahara Group has said the 2022 Nigeria Annual International Conference and Exhibition (NAICE) of the Society of Petroleum Engineers (SPE), should lead the conversation on exploring best possible policies and partnerships to propel seamless energy transition for Africa.
Themed, “Global Transition to Renewable and Sustainable Energy and the Future of Oil and Gas in Africa,” the three-day conference opens today at the Eko Hotels in Lagos.
Speaking ahead of the event, Director, Governance and Sustainability, Sahara Group, Ejiro Gray, said Africa has a peculiar situation that requires a different approach.
“As a continent where a significant number of countries operate a mono-product economy or at a minimum, are highly dependent on revenue from fossil fuel development and production as the main driver of economic activity, the anticipated rate of change should take cognizance of Africa’s peculiar situation,” she explained.
Gray, who will moderate a panel on: “Driving the Net-Zero Global Energy Transition in an Inclusive Manner,” at the conference, added that a sudden and sweeping deviation from a fossil fuel dominated energy sector may leave developing economies in dire straits.
“On the contrary, the absence of traction in the energy transition movement is likely to come at a significant cost to the continent and leave us stranded due to radical changes in policy direction and demand for our main export commodities. One key question then is: how and where do we strike the balance?” she queried.
According to her, “a better way would be for developed countries to smooth the transition by offering three resources to emerging economies: time to adjust, financial aid, and policy assistance.”
Energy transition is upon us already. But the good news is that we can chart Africa’s unique path by making our strengths count and deploying fit-for-purpose energy transition sources in line with national development plans on lowering carbon emissions.
Efficient model
Also speaking, the Chief Operating Officer, Asharami Energy, Henry Menkiti, said Africa has an opportunity to create a model that is efficient for the continent through collaboration, progressive review of processes, human capital transformation and investment in technology.
“Energy transition is upon us already. But the good news is that we can chart Africa’s unique path by making our strengths count and deploying fit-for-purpose energy transition sources in line with national development plans on lowering carbon emissions,” he said.
Sahara Group is already exploring renewable options to drive its power generation and distribution solutions to enhance energy transition and environmental sustainability.
Risk Analysis Manager, Asharami Energy, Mariah Lucciano-Gabriel, will speak at the panel on “Operationalising a clean energy transition for sustainable development in Africa,” while Yisa Adeeyo, Senior Reservoir Engineer at Asharami Energy, will present a paper on “Random Forest Ensemble Model for Reservoir Fluid Property Prediction.” Adeeyo will share findings on the role of Artificial Intelligence in facilitating accurate predictions in reservoir operations.
The energy transition is a pathway toward transformation of the global energy sector from fossil-based to zero-carbon by the second half of this century. At its heart is the need to reduce energy-related CO2 emissions to limit climate change.
Most researchers agree that action is required on four fronts: decarbonizing power generation; massive electrification (to increase dependence on clean energy) and where practicable, transitioning to greener fuels; improving efficiency and reducing waste in all sectors.
In addition to financial assistance, emerging economies require policy guidance and assistance in creating capacity.
