About the Book
Wall Street Journal Best Selling Book
“I agree with the points made—and with Ayuk’s case for the critical role that OPEC will play in helping African oil products achieve a much-deserved voice in the petroleum industry.”
—OPEC Secretary-General, H.E. Mohammad Sanusi Barkindo
Two decades of negotiating African oil and gas deals have given NJ Ayuk a grasp of the continent's energy landscape that few can match. The American-educated, African energy lawyer serves up generous doses of that insight in his second book, Billions at Play: The Future of Africa Energy and Doing Deals.
Serving as a road map for the continent to do a better job of using its vast energy resources to improve its peoples' lives, Ayuk addresses how African countries can use their energy industries as springboards for diversifying and growing their overall economies.
In addition, Ayuk shows how African governments and local companies can negotiate better deals with international energy companies and how the continent's countries can use marginal oil and gas fields to develop domestic energy industries that, once strong, will compete globally.
Questions posed and answered:
Why Africa's fledgling natural gas resources can allow the continent to emerge as a key global player in the industry
What changes African countries can make in order to become attractive investment destinations
The role that access to reliable, sustainable, and affordable power can play in the acceleration of economic growth
Why and how American energy companies should stop curtailing their investments in Africa
And why the continent’s energy industry needs more women
The book’s underlying theme is that too often, natural resources create wealth for foreign investors and a select group of African elites while everyday people (and in turn, African economies) fail to benefit.
While it is easy to see that there is a lack of local participation in African projects and an ongoing challenge in securing necessary investment, we also need to understand our role in this. We have to understand the importance of creating enabling environments with attractive fiscal terms for local and foreign investors, the role of stronger local content policies in ensuring more local participation in the sector, and the weight government and political uncertainty carries in moving projects forward.
“It’s up to Africans to fix Africa,” writes Ayuk. This statement can be considered a living theme throughout the book as he encourages that local companies and governments have to enter into collaborative agreements rather than passive engagements with IOCs and majors. “[We need] investors who show that they want to fully participate with us, by coming in and building long-term sustainable businesses that last and make a profit, create jobs and further development.”
If you’re ready to dive headfirst into accessing a frank analysis and examination of the African energy landscape and how Africans can begin to fix Africa, jump into the pages of Billions at Play.
Table of Contents:
Table of Contents
Foreword
Chapter 1: It’s High Time for African Oil and Gas to Fuel a Better Future for Africans
Chapter 2: It’s Up to Africans to Fix Africa
Chapter 3: A Place at the Table: Africa and OPEC
Chapter 4: Empowering Women for a Stronger, Healthier Oil and Gas Industry
Chapter 5: Abundant, Accessible, Affordable: The “Golden Age” of Natural Gas Shines in Africa
Chapter 6: Monetizing Natural Resources: Successes, Lessons, and Risk
Chapter 7: Job Creation: Making Our Own Multiplier Effect
Chapter 8: A “Recipe” for Economic Diversification
Chapter 9: Calling All Leaders! More on Good Governance
Chapter 10: Industrialization: Linking Promise to Prosperity
Chapter 11: Technological Solutions for Oil and Gas
Chapter 12: Oil and Gas Companies Can Help Reshape African Economies
Chapter 13: Following Nigeria’s Lead on Marginal Fields
Chapter 14: The Critical Art of Deal-Making: It’s Time to Negotiate for a Better Future
Chapter 15: The Connection Between Energy Security and Social Security
Chapter 16: Managing Oil and Gas Revenue
Chapter 17: American Ingenuity and Africa Oil and Gas Potential
Chapter 18: How We’ll Recover From COVID-19
Chapter 19: Lights Out: Reforming African Power Generation Monopolies and Transitioning to the Future
Concluding Thoughts
About the Author :
NJ Ayuk is founder and CEO of Pan-African corporate law conglomerate, Centurion Law Group; Founder and Executive Chair-man of the African Energy Chamber; and author of Billions at Play: The Future of African Energy and Doing Deals and co-au-thor of Big Barrels: African Oil and Gas and the Quest for Prosperity. He is recognized as one of the foremost figures in African business today. A Global Shaper with the World Economic Forum, one of Forbes' Top 10 Most Influential Men in Africa in 2015, and a well-known dealmaker in the petroleum and power sectors, NJ is dedicating his career to helping entrepreneurs find success and to building the careers of young African lawyers. NJ strives through his work to ensure that business, and especially oil and gas, impacts African societies in a positive way and drives local content development. NJ graduated from the University of Maryland College Park and earned a Juris Doctor from William Mitchell College of Law and an MBA from the New York Institute of Technology.
Review :
"It is an honor to provide the foreword for this book. I agree with the points made-- and with Ayuk's case for the critical role that OPEC will play in helping African oil producers achieve a much-deserved voice in the petroleum industry. Yes, one could argue that Ayuk is a dreamer. However, he has taken the time to develop a detailed roadmap for realizing that dream. It's up to each of us to take the time to read it and to play a part in making his dream of petroleum-fueled economic growth, stability, and improved quality of life happen for Africa." -- Mohammad Sanusi Barkindo, OPEC Secretary General
''In the chapter entitled Abundant, Accessible, Affordable: The "Golden Age" of Natural Gas Shines in Africa, Ayuk correctly identifies the benefits of natural gas, especially as the world looks for ways to lower CO2 emissions.'' -- Jeff Goodrich, former CEO of OneLNG
''The answer to Africa's utility woes can be found in Ayuk's book. For example, not everyone is willing to assert that Africa will never achieve its full potential if it cannot power its industries, services, or households. Ayuk's chapter isn't all doom and gloom [however] Ayuk calls it like it is.'' -- Dr Thabo Kgogo, former CEO of Efora Energy Limited
"NJ Ayuk is right to call upon African governments to do their share in making Africa appealing to American exploration and production companies. I hope American companies will see that Africa still has a lot to offer in terms of economic returns." -- H. Daniel Hogan, CEO and General Manager of Lukoil International Upstream West
''Ayuk sees the irony in oil and gas produced in Africa being sent away to be refined, then returned as finished products that Africans pay a premium for. Africa is exporting raw materials it could be refining and processing, if it only had the capabilities, but not everyone is willing to admit that with the level of candor Ayuk does.'' -- Bruce Falkenstein, Joint Operations Manager, License Management & Compliance for LUKOIL
"NJ Ayuk is a champion of African commerce, and that's clear in his new book. In the chapter, "Calling all Leaders! More on Good Governance," he presents an unvarnished view of corruption's negative effect on Africa's business environment. His message is something anyone who is doing business there, or wants to, should hear.''-- Sergio Pugliese, President for Angola African Energy Chamber
''Ayuk sees opportunity all around him, and he realizes that appropriate development will solve many of the continent's challenges, including power generation.'' -- Ann Norman, Pioneer Energy's General Manager for Sub-Saharan Africa
"Ayuk goes beyond acknowledging this cycle of mismanagement and corruption. He also gives us ideas for breaking it. I can see how some of his ideas for oil money revenue will be considered controversial, but I hope, at least, that they trigger productive dialogue. We can't continue as we are." -- Akere Muna, former Vice Chairman of Transparency International
