East Africa nations compete to become region’s first oil exporter
Sept 07, 2016: Major oil discoveries in Uganda, Kenya, Tanzania and Mozambique have generated intense interest among the global energy industry towards East Africa.
The speed at which hydrocarbon reserves are being developed in these countries gives a clear indication of their government’s willingness to present their countries as the new hotspot in hydrocarbon exploration and production.
Just last week, Tanzanian President John Magufuli ordered that exploration of natural gas begin as a matter of urgency, whilst Kenya's President Uhuru Kenyatta announced that the government has brought forward the country’s oil production deadline by two years and ‘set a path’ that will enable the country to become a major producer and exporter by 2019. Tullow Oil will now send the country's first barrels of oil to the market in March 2017, with exports expected soon after.
Charles Keter, cabinet secretary of Kenya’s Ministry of Energy and Petroleum is expected to expand on Kenya’s extraction and transportation plans during his keynote speech at the East Africa Oil & Gas Summit & Exhibition (EAOGS) in Nairobi on 16 November.
EAOGS draws international oil companies, suppliers to the industry, investors as well as government delegations from across the world to examine the hugely significant opportunities in the region.
Key topics being tackled in 2016 include: progress being made in the Rift Valley, Uganda and Indian Ocean; real world innovations in offshore production technology and supply chain management; legal, institutional and regulatory challenges facing the industry; and environmental and safety concerns.