Large-scale discoveries of oil and gas in commercial quantity in East Africa have widened and reshaped the global balance in the industry
| By Maureen Chigbo | May 6, 2013 @ 01:00 GMT
RECENT large and world-class gas discoveries in Mozambique and Tanzania, with immense potential and commercial oil flows in Kenya, point to the enormous on-shore and off-shore exploration frontiers of Eastern Africa. The impact of this resurgence is rebalancing Africa’s oil and gas industry landscape into a wider continental oil and gas/LNG game, with potential global consequences. These are issues that will feature prominently at the 4th Eastern Africa Oil, Gas and Energy Conference 2013 holding from June 18 to 20 in Kenya.
The conference will give a new insight into the opportunities, acreage, key players as well as corporate and government strategies in this region. It is hosted annually by Global Pacific & Partners including the pre-conference 4th Eastern Africa Strategy briefing by Duncan Clarke, Africa’s foremost strategist in the upstream. The meeting will highlight presentations of government officials, ministers and key executives from within leading corporate and state oil companies.
Eastern Africa has been transformed into a fast-emerging oil and gas frontier region. The on- and offshore potential includes exclusive economic zones, deepwater opportunities and ultra-deep plays. The 15-nation states in the region are diverse in scale, resource potential, contract terms, and venture-types and also in regard to exploration cycles and hydrocarbon discoveries.
Increasing numbers of companies have entered open acreage and bid rounds, and more blocks have been leased than ever before, with more drilling commitments concluded. Foreign state-owned companies like CNOOC and PTTEP have invested in Eastern Africa while Super-Majors (Total, Exxon Mobil, Chevron, Shell and BP) have shown renewed interest, and Independents from around the world now abound.
During the 4th Eastern Africa conference, key speakers will reveal the exploration potential, future opportunities and growth in countries like Kenya, Somalia, Ethiopia, DRC, the Seychelles, Tanzania, Madagascar, Burundi, Rwanda, and regional oil giant Uganda. “The new discoveries will add substantial net wealth to Eastern Africa’s littoral states where they are located, and induce higher economic growth rates and regional development,” Duncan Clarke, chairman of Global Pacific & Partners, said
Prior to the conference, the 4th Eastern Africa Strategy briefing together with the celebrated 51st PetroAfricanus Dinner, will be held on June 18. During the strategy briefing Clarke, author of several historiography and economics books about Africa’s oil future, provides key insights on the corporate upstream oil and gas game, governments and state oil firms and licensing agency strategies.