The forum will be steered by an executive committee composed of regulatory heads. Credit: Nigerian Upstream Petroleum Commission.

Petroleum regulators in Africa, spearheaded by Nigeria, have launched the African Petroleum Regulators Forum (AFRIPERF) to unify oil regulations, aiming to attract vital investment into the region’s fast-growing energy sector.

The signing of the charter took place in Accra on the sidelines of Africa Oil Week and was chaired by Nigerian Upstream Petroleum Regulatory Commission head Gbenga Komolafe.

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This initiative saw 16 countries come together to witness the establishment of a forum designed to unify the petroleum regulatory landscape across Africa.

Regulators from eight countries – Gambia, Ghana, Guinea, Madagascar, Nigeria, Somalia, Sudan and Togo – have formally endorsed the charter.

Additionally, seven other nations have expressed their support, subject to the completion of domestic consultations.

Komolafe said: “From our initial announcement at the 8th SAIPEC, to our inauguration during the NOG 2024 event and the careful drafting of the AFRIPERF Charter, each milestone has brought us closer to this historic day.

“By activating our Executive Committee, Technical Committee and Secretariat, we are establishing the functional pillars that will drive AFRIPERF forward, ensuring that our shared vision is translated into measurable results with defined timelines and accountability.”

AFRIPERF’s mission is to set the standard for regulatory excellence on the continent by fostering cooperation, enhancing transparency, and addressing cross-border challenges such as gas trade, emissions and digitalisation.

The forum will be steered by an executive committee composed of regulatory heads, with the support of a technical committee of experts and a secretariat that will rotate among member countries.

In the coming months, AFRIPERF will conduct elections to appoint its chairperson and decide on the location of its headquarters.

This move is part of a broader effort by African countries to align their energy governance with international best practices and to assert a more influential role in global energy policy, reported Reuters.

Recently, the Nigerian National Petroleum Company, in collaboration with the TotalEnergies and Sapetro Consortium, signed a production sharing contract for petroleum prospecting licences 2000 and 2001.

This contract is Nigeria’s first production sharing agreement to encompass exploration and production activities for both crude oil and natural gas.