Petrobras, Namibia Energy Corporation (NEC), the Brazilian Institute of Petroleum (IBP) and African Energy Chamber Strengthen Africa-Brazil Oil and Gas Investments in Rio

The African Energy Chamber (AEC) (www.EnergyChamber.org) – the voice of Africa’s energy sector – hosted an Invest in African Energies Investment Forum in Rio de Janeiro, Brazil, on 30 January 2025. Attended by key Brazilian energy stakeholders, including representatives from Petrobras, the Brazilian Petroleum Association and the Brazilian Association of Petroleum Geologists, alongside African stakeholders such as RichAfrica Consultancy, the event showcased investment opportunities in Africa’s energy sector, providing a platform for enhanced multilateral partnerships.

The event served to promote collaboration by exploring strategic investment avenues, highlight challenges to development while facilitating greater engagement between Brazilian and African energy players. During the event, the AEC’s Executive Chairman NJ Ayuk was also honored with the prestigious Best Brazil-Africa Integration in Petroleum Geology and Energy Award, which included a special book documenting key courses, events, conferences and workshops organized by the Brazilian Association of Petroleum Geologists since 2022.

In his remarks, Ayuk highlighted Africa’s lucrative oil and gas opportunities and urged global investors, including Brazilian firms, to tap into markets such as Namibia, Angola, the Republic of Congo and many more. He strongly defended Africa’s right to develop its hydrocarbon resources to lift 600 million people out of energy poverty and drive continent-wide industrialization.

“We will not stop developing and producing our oil and gas. Every drop must be utilized to fuel our economies, just as Western nations have done, to drive industrialization and economic growth,” Ayuk stated.

He urged Brazil to maximize its oil and gas production and stand with Africa against Western pressures discouraging fossil fuel development in the name of the energy transition.

“Brazil accounts for less than 1% of global greenhouse gas emissions and Africa as a whole contributes less than 3%. Yet, we are told to stop developing our resources. A kettle in the UK consumes more electricity than seven African families combined. Heathrow Airport alone uses more power than the entire nation of Sierra Leone. We want to use our gas to produce fertilizers so we don’t have to beg for food from Ukraine,” Ayuk emphasized.

As one of the world’s final frontiers for oil and gas exploration, Africa offers a wealth of opportunities for foreign investors. Countries like Namibia – which recently emerged as a global exploration hotspot due to a slate of offshore discoveries in the Orange Basin – offer growth opportunities for Brazilian companies. Brazil’s Petrobras is currently assessing investment opportunities in Namibia, highlighting the potential for collaboration between the two nations.

“Almost every major oil company such as Chevron, Shell, TotalEnergies, Galp and more have made discoveries in Namibia. That speaks volumes about the country’s geological potential,” Ayuk noted.

He also commended Ndapwilapo Selma Shimutwikeni, Managing Director of RichAfrica Consultancy, for her 12 years of dedicated efforts in promoting Namibia’s oil and gas potential, which has led to a surge in global interest.

“Selma stood by Namibia when everyone doubted its potential. People said there was no oil but she never gave up, she championed Namibia’s energy sector with dignity and integrity and promoted Namibia as Africa’s number one investment destination for oil and gas investments,” Ayuk said. He also invited Brazilian firms to explore Namibia’s energy opportunities at the upcoming Namibian International Energy Conference, set for April 23–25 in Windhoek.

Shimutwikeni reinforced Namibia’s commitment to becoming an African energy hub, emphasizing the transformative impact of oil and gas resources on the country’s 3 million people.

“We see Brazilian firms as valuable partners in exploration and development. Brazil’s journey of resilience and transformation is an inspiration to us,” she stated.

Meanwhile, Marcio Rocha Mello, President and Founder of Namibia Energy Corporation, emphasized Brazil’s commitment to partnerships, pledging to invest in upstream exploration and infrastructure in Namibia and across Africa. “Brazil is a nation that shares, builds and grows together with our partners,” he affirmed. The renowned ‘oil man’ is bullish about finding more oil in deep water Namibia.

Sylvia Anjos, Executive Director of Exploration and Production at Petrobras, reaffirmed the company’s commitment to expanding investments in Africa, specifically in Namibia, Nigeria, Angola and South Africa. These investments aim to sustain production and drive new discoveries.

“If Brazil was not a producer and had to import 2 million barrels of oil daily to meet demand, our economy would struggle. We hope Namibia starts producing soon – it will make a huge difference,” Anjos stated.

Further reinforcing Brazil’s interest to invest in African oil and gas, Carla Araujo, President of the Brazilian Association of Petroleum Geologists, highlighted the country’s readiness to support Brazilian firms exploring Africa’s energy opportunities, with a focus on workforce development, training and market insights.

Distributed by APO Group on behalf of African Energy Chamber.