Continent’s Oil and Gas Industry Shows High Production and Exploration Potential as Africa Oil Week Comes to a Close

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Africa Oil Week (AOW), the leading event dedicated to the African Oil and Gas industry, came to a successful close after a content-packed conference and exhibition. The leading business and intelligence business platform spread across 5 days saw over 1,500 delegates convene to discuss and showcase opportunities within the industry.

Delegates from around the world exchanged thoughts and the latest insights taking place in Africa and the future of the Oil and Gas industry. The conference also held sessions focusing on African production, exploration and future Outlooks for the sector as well as the energy transition outlook to 2050 and how technology and finance are creating new options for gas.

According to some of the most recent data, African countries are yet to break into the world’s top 10 oil producing nations, with the United States, Russia and Saudi Arabia currently holding the top spots. However, Nigeria, Angola, Algeria and Libya have managed to secure the number 13, 14, 18 and 20 slots respectively.

Currently, the top 20 oil producing countries in Africa average between 1.9 million and 200 barrels of oil per day with Nigeria at the top and Malawi at the bottom. AOW delegates believe that this may change in the coming years as other nations such as Kenya and Tanzania are set to join the list following recent discoveries of oil reserves within their borders.

This year, 17 Government ministers attended the event, including ministers from South Africa, Nigeria, Mali, Uganda, Gambia, Congo, Niger, Cote d’lvoire, Guinea, Namibia, and Sudan. Additionally, during the course of the event, more than 200 speakers took part in the conference and exhibition, providing over 50 hours of industry insights and networking opportunities.

“The conference has tackled some of the most compelling issues facing the African upstream today,” said Conference Director, Paul Sinclair.

“With luminaries such as Hon Minister Jeff Radebe, Minister of Energy, Republic of South Africa and Dr Fatih Birol, Executive Director, IEA, outlining their commitment to a sustainable future, Hon Minister Kachikwu confirming the direction of the Nigerian upstream and the American government confirming their commitment to African energy development, Africa Oil Week delivered both insights and tangible take-aways for operators, banks, service companies and governments alike,” he continued.

On the final day of the event, AOW hosted a dedicated student programme, which more than 100 students attended. The session was partnered with institutions including University of Cape Town, University of the Western Cape, University of Namibia and University of Dar es Salaam and focused on capacity building and workforce development.

The next Africa Oil Week event will take place in Cape Town, South Africa from the 4th to the 8th of November, 2019.

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