The oil industry in the Gulf of Guinea is, to a greater or lesser extent, the driving force of the economies of the countries located here. Because of ongoing or planned reconstructions and innovations of local production facilities, refineries and other installations associated with the storage and transportation of petroleum products, the demand for modern engineering solutions and technologically and ecologically advanced products and services is growing.

VAE Controls Group is already concluding business contracts with the Nigerian National Petroleum Corporation (NNPC) for the supply and installation of fuel metering equipment. The Nigerian Ministry of Petroleum Industry and the NNPC are now looking for economic and environmental solutions for the treatment of the excess oil/flare gas produced in the Niger River Delta at the level of individual federal states (Delta state, Rivers state, Bayelsa, Akwa-Ibom) ) and its energy use. The area of ​​gas processing and especially national gas distribution is and will be crucial for the Nigerian oil industry in the coming years and can offer considerable potential for relevant Czech companies.

In November 2020, a business delegation from VAE Controls Group, accompanied by an economic diplomat from the Embassy of the Czech Republic in Abuja, visited Cameroon, where negotiations took place with the Cameroonian state-owned company for the storage of petroleum products (Société Camerounaise des Dépôts Pétroliers - SCDP). This meeting led to a happy finale, when at the beginning of the year a contract was concluded, the subject of which is the supply and installation of fuel metering equipment and the construction of storage tanks in the port of Douala. Cameroon is currently preparing a plan to build an oil terminal in the port of Kribi, which will offer additional opportunities for potential Czech companies in the oil and energy sectors.

Author: Mgr. Beata Matusiková, MBA, Economic and Trade Counsellor, Embassy of the Czech Republic in Nigeria