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PRESS RELEASE |
African Energy Week (AEW) 2023 Welcomes UTM Offshore as Official Sponsor of the Invest in Nigeria Energies Spotlight |
The African Energy Chamber is proud to announce UTM Offshore as the official sponsor of the Invest in Nigeria Energies forum, taking place during African Energy Week 2023 |
JOHANNESBURG, South Africa, August 18, 2023/ -- As Nigeria’s energy sector grows, service companies are playing an increasingly more important role in driving the sustainable development of the energy value chain. Companies such as UTM Offshore, a Nigerian-based marine and logistics services company, have and will continue to be instrumental in supporting the sustainable growth of the industry while advancing energy access and industrialization. In this regard, the African Energy Chamber (AEC), representing the voice of the African energy sector, is proud to announce that Nigerian marine and logistics services provider UTM Offshore is the official sponsor of the Invest in Nigeria Energies country spotlight session at the African Energy Week (AEW) conference. AEW represents the continent's premier event for the energy sector and is scheduled to take place from 16-20 October in Cape Town. UTM Offshore’s sponsorship of the Nigerian country spotlight session follows the company joining the conference as a Platinum Sponsor, and is a testament to the commitment of UTM Offshore to spearhead discussions and deals in Nigeria’s energy market. With Nigeria prioritizing the development of its 200 trillion cubic feet of proven natural gas reserves for a just and inclusive energy transition, the role of companies such as UTM Offshore continues to grow. Natural gas represents a priority resource for the government, owing largely to its sustainability and availability, and UTM Offshore is committed to expanding the domestic gas market. Since the company’s establishment in 2012, UTM Offshore has played a central role in developing, managing and deploying solutions for the maritime and oil services sectors in West Africa. The company has prioritized partnerships with regional and global energy companies and investors as part of a broader strategy to accelerate the penetration of new investments in Africa’s energy sector. With a focus on delivering sustainable solutions for the monetization of energy resources in Africa, UTM Offshore works towards advancing energy security and socioeconomic development. One of the company’s largest gas developments underway is the UTM Offshore-led Floating Liquefied Natural Gas (FLNG) project, located in Akwa Ibom State. Representing the first FLNG deployed in the country, the project will enhance gas monetization in Nigeria. In December 2021, the company signed an agreement with the African Export–Import Bank (Afreximbank) for the provision of $5 billion in funding to develop the project. Following the initial deal, the firm also partnered with global engineering and services firms including JGC Corporation, Technip Energies and Kellogg Brown & Root to fast-track the project’s deployment. In July 2023, UTM Offshore and Afreximbank inked the preparation facility agreement for the project. In addition to pioneering the FLNG project, UTM Offshore plays a key role in accelerating infrastructure development in Nigeria through the provision of world-class and innovative marine and logistics services. UTM Offshore’s distinguished role as a platinum sponsor for AEW 2023, coupled with their esteemed position as the official sponsor of the Invest in Nigeria Energies session, is a testament to its commitment to driving investments and empowering the future of Nigeria’s energy industry. “UTM Offshore’s commitment towards the expansion of Nigeria’s economy has paved the way for the development of critical facilities and infrastructure. By pioneering the country’s first FLNG project, UTM Offshore is spearheading Nigeria’s just energy transition, and other African energy companies stand to learn a great deal from UTM Offshore,” stated NJ Ayuk, the Executive Chairman of the AEC. As the official sponsor of the Invest in Nigeria Energies spotlight at AEW 2023, UTM Offshore will participate in high-level panel discussions, presentations, and exclusive networking and deal signings, showcasing the company’s strategic plan within Nigeria’s burgeoning energy sector. The country spotlight takes place under the AEW 2023 umbrella theme, "The African Energy Renaissance: Prioritizing Energy Poverty, People, the Planet, Industrialization, and Free Markets," and will unveil a spectrum of investment and partnership prospects within the West African country. AEW is the AEC’s interactive exhibition and networking event uniting African energy stakeholders, driving industry growth and development, and promoting Africa as the destination for African-focused events. For more information about sponsorship, attendance, and partnership opportunities, visit www.AECWeek.com Distributed by APO Group on behalf of African Energy Chamber. SOURCE |
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