Monday
, November 12, 2018/04:29PM/Oando Plc
The African Oil and Gas industry is showing
signs of an auspicious future; there is renewedinvestor interest and burgeoning
confidence in the continent and sector following continued upward movement in
oil prices and recent oil and gas discoveries.
This was very apparent by the host of panel discussions, country and
company presentations at the recently concluded 25th edition of the
Africa Oil Week (AOW) at the Cape Town International Convention Centre in Cape
Town, South Africa.
AOW, the continent's leading annual oil
and gas gathering, marked its 25th year with its largest delegation
to date. Over 1,900 guests including
CEOs, Government officials, key business decision makers and oil and gas
executives from over 70 countries were in attendance to discuss ‘The Leading
Business Intelligence and Transaction Platform for Africa's Oil and Gas
Sector’. The event which held from the 5th to 9th of
November, provided a platform for sector participants, to share their
strategies for growth, better Government participation in the sector and engage
in high level discussions on the future of the continent’s oil and gas
industry, focusing on current challenges and trends and proffering solutions
that will provide a positive and lasting impact for all.
Nigeria was well represented as Africa’s largest
oil producing nation; in attendance were Dr. Ibe Kachikwu, Nigeria’s Minister
of State for Petroleum, Engr Simbi Wabote, Executive Secretary of the Nigerian
Content Developing and Managing Board (NCDMB) who both spoke extensively on
Nigeria’s local content development approach and its overall contribution
towards the African Oil and Gas industry.
Oando PLC, Nigeria’s leading
oil and gas company led several discussions during the course of the week. In
addition to being a platinum sponsor, delegates from the company provided the
Nigerian business perspective on various panels. Speaking on an economic
outlook panel titled: “Can Africa’s upstream play a significant role in the
context of the global and regional energy landscape” Oando PLC Group Chief
Executive, Wale Tinubu said “We have been substantially supported by the
Government's local content policies which have effectively enabled indigenous players
step in and play a significant role in the sector. In Nigeria today, out of the
2 million barrels of oil being produced, 400,000 can be attributed to
indigenous production”.
Alongside Tinubu on this panel were Jens Frølich
Holte, State Secretary, Ministry of Foreign Affairs, Norway; David Hicks,
Senior Vice President: Upstream, IHS Markit; Jasper Peijs, Exploration Vice
President, BP; Mounir Bouaziz, VP Commercial/New Business Development South
America & Africa, Country Chair Dubai & Northern Emirates, Shell and
Paul McDade, CEO, Tullow Oil. Paul McDade also spoke extensively on Africa’s
economic outlook, he said “Africa has all
the components for competitiveness, there are fantastic prospects in the
exploration space, low cost production and most importantly there is a
skilledworkforce in Africa that any company can tap into”
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