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Africa Oil Week 2018 highlights key challenges, opportunities in petroleum sector

Africa Oil Week Tuesday got underway with a strong start for its 25th anniversary as delegates converged at the Welcome Reception place at the Cape Town International Convention Centre in Cape Town, South Africa.
Business Hilights reports that the first session on Economic Outlooks was opened with key speakers including 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; Paul McDade, CEO, Tullow Oil and Wale Tinubu, Group Chief Executive, 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.
According to Paul McDade, CEO, Tullow Oil, “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.”
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 & 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 today, once again highlighted the important role Africa Oil Week plays in driving new business opportunities for governments and exploration companies across Africa.
As activities peak for Wednesday, participants said Tuesday also provided various networking and social functions for delegates including the Ministerial & VIP lunch, Thinktank for Sustainable African Energy (sponsored by Deloitte), Petro Africanus Dinner (sponsored by Seplat) and the Late Night Networking Reception (sponsored by NOV).