(3 minutes read)
· In the 2nd edition of Billions at play: The future of African Energy and Doing Deals, author NJ Ayuk, explains how to build a success story around the oil and gas industry
· The book, gives insights on how oil and gas industry can come out of the pandemic blues, which have debilitated the industry
In the 2nd edition of Billions at play: The future of African Energy and Doing Deals, author NJ Ayuk, explains how to build a success story around the oil and gas industry. The book gives insights on how the oil and gas industry can come out of the pandemic blues, which have debilitated the industry. It delves into the details of strategic use of Africa’s natural petroleum resources, and how it can trigger new paradigms for the development of the region.
The book also offers answers and solutions to the historic challenges that the industry has faced throughout 2020. Covid-19 had a negative impact on upcoming projects and production on the African continent. Examples of stalled projects are there in plenty. Pecan Field Development in Ghana was called off with expectation to resume production at the end of 2021. In Gabon, the book says, there has also been a suspension of the Ezanga License.
This has led to the reduction of oil and gas output by 20 percent and Capital expenditure by 60 percent. This had a detrimental effect on the countries that were heavily reliant on oil export revenue. Production in projects such as the Gharb Basin in Morocco also had to be delayed because of the pandemic. The book also flags projects from other countries, which were cancelled/ suspended due to Covid-19, leading to time and cost overruns.
The foreword for the book is written by OPEC Secretary General , H.E. Mohammad Sanusi Barkindo .
