The Africa E&P Summit was an inspiring, enlightening and a learning experience for those interested or already exploring the oil and gas sector.
Many companies are still keen on exploring oil. Woodside, Africa Oil Corp and Galp Energia have extracted so many gallons of oil and produced millions of barrels of oil after exploring in countries on the coast of West Africa such as Senegal and Guinea Bissau. Companies such as Invictus Energy have started exploring untouched territories such as the Cabora area in Zimbabwe, Southern Africa. Barnaby Egerton-Warburton CIO of BXW Venture Capital indicated to PEafrinsights that “starting a new venture in a territory that has not been explored before is a bit risky”, but emphasised that “it is worth it if it pays off”.
With large exploration and extraction projects going on in Africa, most companies such as Seplat and Woodside believe that giving back to the communities is essential. Social investment programmes that aim to create sustainable communities and educational initiatives provide for friendly access to the communities. This also grows the economy in the area, creating a good working relationship with the society.
Overall the Africa E&P Summit offered the opportunity to network which is not only essential to driving direction in the industry, but also allows the opportunity for investors to endorse start-ups looking to build their footprint in the sector.
For more info on the event, contact PEafrinsights at firstname.lastname@example.org