A delegation of industry chiefs, stakeholders and business leaders have convened in South Africa for the 2018 edition of an energy industry event dubbed Africa Oil Week (AOW), highlighting the continent’s potential as a growing change-maker in the lucrative global oil and gas sector.
Following a panel discussion held this week, the group affirmed Africa’s ability to compete against all other oil and gas producing regions due to its natural advantages and competitive edge.
Africa Oil Week kicked off with a strong start for its 25th anniversary as delegates converged at a Welcome Reception in Cape Town, South Africa to celebrate the opening of the event.
The first session on Economic Outlooks was opened with key speakers including Jens Frolich Holte, State Secretary for Norway’s Ministry of Foreign Affairs; David Hicks, Senior Vice President of Upstream, IHS Markit; Jasper Peijs, Exploration Vice President at BP; Mounir Bouaziz, VP Commercial/New Business Development South America & Africa, Country Chair Dubai & Northern Emirates for Shell; Paul McDade, CEO of Tullow Oil and Wale Tinubu, Group Chief Executive for Oando PLC.
The panel addressed the challenges and opportunities the African oil and gas industry is currently facing. The session also highlighted how Africa can remain competitive in this global oil and gas landscape.
“Tullow believes wholeheartedly in Africa’s ability to compete against all other oil and gas producing regions. Africa has natural advantages that other markets simply don’t have. There is no reason for Africa to do anything but grow market share, and Tullow is committed to being a substantial part of that story” said Paul McDade, CEO, Tullow Oil.
His sentiments come at a time when a number of African countries are ready to join the international oil exporting arena while other global players are struggling to adapt to changes in the landscape.
Another standout plenary session was the Ministerial Panel led by BBC World Affairs Editor, John Simpson. Six Ministers from South Africa, Nigeria, Niger, Sudan and Congo provided insights on their country’s exploration and production strategies.
They explored routes to drive growth in National Oil Companies and the role oil and gas plays within policy and development plans.
A bidding round from the Republic of Congo, a licensing round announcement from Madagascar and a country roadshow from Uganda, all held on Tuesday, November 6th, 2018, once again highlighted the important role Africa Oil Week plays in driving new business opportunities for governments and exploration companies across Africa.
The affair also provided various networking and social functions for delegates.
Africa Oil Week is taking place at the Cape Town International Convention Centre in Cape Town, South Africa, and will run until the 9th of November, 2018.