Africa Oil & Gas Renewed Interest
I recently attended the PESGB/HGS 16th annual Africa E&P Conference in London. The quality conference offered delegates some 26 regional papers and case studies alongside 14 technical papers. The standard was very high as were the excellent 50 Posters presented. The Poster Session offers the opportunity for operators, service companies and academics to offer insights into a complex geological area, hydrocarbon field or some new technology through a static pictorial presentation.
The conference was supported by an exhibition of over 40 service companies and country stands offering the latest information and technology.
One delegate said that “… the conference “demonstrated that the low oil price has made companies look more effectively at new prospects with renewed vigour”. Others commented on the high quality of the papers and the openness in the new low oil price era. This factor alone is probably good for all concerned.
One thing that was evident from the conference, and to its almost 600 delegates, was that Africa is drawing renewed interest and investment. One paper highlighting the MSGBC Basin, around 75% the size of the Gulf of Mexico, stated that it was significantly under explored but had already delivered several world-class assets. Other papers looked at the opportunities in East Africa in the deeper water identifying potential new plays that could deliver major resources. Papers were also given on the E Africa Rift Basin, North Africa from Morocco through the Sirte Basin to the Nile Delta. Further papers were presented from East Africa to Madagascar as well the familiar and the not-so-familiar plays in West Africa from Nigeria to Sierra Leone as well as Senegal.
There was something for everyone and a conference of significant content with players from the majors and independents all offering views and insights.
Let us hope that this enthusiasm and increase in activity is a sign that the industry has settled on a US$50 per barrel price which will support an increase in investment and confidence in this resource rich continent.
To complement this conference and Africa Week in South Africa later this month, we have, in association with NVentures Ltd, released a paper “Africa – Interest, Investment and Resources on the rise”. Please click on the link below to access a FREE copy.
by Tim Shingler