(4 minutes read)
· The African Energy Chamber held an African Exploration webinar recently, which was in partnership with the International Association of Geophysical Contractors (IAGC) and the International Association of Drilling Contractors (IADC) .Nigeria Chapter
· Major topics of discussed were the ways to create better enabling environments to do business for the oil companies, need for formulating innovative measures to create an inclusive industry that represents women and the youth, the post Covid-19 growth strategy for the oil sector etc
· Many African projects experience force majeure resulting in job losses across the board
T he African Energy Chamber held an African Exploration webinar recently. It was in partnership with the International Association of Geophysical Contractors (IAGC) and the International Association of Drilling Contractors (IADC) .Nigeria Chapter.
Major topics discussed were the ways to create better enabling environments to do business for the oil companies, the need for formulating innovative measures to create an inclusive industry that represents women and the youth, the post Covid-19 growth strategy for the oil sector etc.
Many African projects experience force majeure resulting in job losses across the board. Oil producing countries such as Nigeria, Angola and Congo continue to face hardship because of the low prices and disruptions due to pandemic. Problems of the oil producing countries in the region vary from each other. The common problem for the continent seems to be lack of refining capacities.
In terms of local policy development and the expansion of energy infrastructure, the panel felt that governments should play a major role in influencing a successful environment post Covid-19. Other highlights of the webinar included the need to encourage youth and women participation, and the need to engage in joint ventures, providing quality data to the investors and evolving attractive incentives for oil exploration, drilling and refining. The meeting also underscored the need for overcoming the environmental and infrastructural challenges of the oil industry.
