Energy and Corporate Africa
News, Analysis, Views, Commentary and Strategic Reports
on Energy, Human Development & Corporate Affairs in Africa
(C) Engr. Fisoye Delano, MD of NPDC Subsidiary of NNPC in a chat with NewsBase Deputy Editor, Ed Reed and Upstream Houston Correspondent, Anthony Guegel.
(L) Sunny Oputa, CEO of Rence-Mannix Inc (C) Ahmadou Bah, Petroleum Economist, AUREP Mali, (R) Henri Coulibally, Deputy Director AUREP Mali
It is ironic that whenever Africa is mentioned in global affairs what comes first into most peoples mind is a picture of a continent riddled with poverty, hunger, backwardness, HIV/Aids, the malaria parasite, and an ancient channel for slavery. In the right perspective, the picture of Africa should be a glorious portrait of a benevolent goddess of the earth that produces and gives the world the best in human and material resources. Africa should be seen from the global window as the beautiful bride sought by many suitors who in her naivety under estimate her beauty, brain, prowess and importance. It is the new belief that Africa of today will come to the realization of her potentials as the world’s cynosure and basin of wealth and be able to utilize her natural endowment for the peaceful and sustainable development of her people who for long have suffered various deprivations in the midst of plenty.
The 5th Annual West & Central Africa Oil & Gas Conference which started on June 11 and ended June 12, in Houston, once again depicted Africa as the focus of global attention. The major attraction is: Oil & Gas.
The first scramble over Africa was more for political control. Africa of today seems to be facing another scramble by Western and Asian countries. This time the fight for Africa is not politically influenced but is mostly driven by economic quest. It is not only United States of America, or Europe that has shown appetite for Africa’s oil and gas. China has in no small measure displayed a gargantuan hunger for the Africa’s oil and gas. Dr. Moghalu in his work: Africa and a rising China stated that “with China’s economic transformation, its influence in Africa is now driven more by the need for raw materials and energy to support its economy than was the case in the socialist past when solidarity was the dominant factor”.
The conference gathered momentum with an informative paper delivered by Engr. Fisoye Delano, the Managing Director of NPDC, a subsidiary of Nigerian National Petroleum Corporation, entitled: Nigeria as a reliable supply partner for the Energy needs of North America. Engr. Delano enumerated the various ongoing activities in NNPC to improve efficiency and effectiveness towards meeting local and global demand. He went further to emphasize on the role Nigerian government and its agencies are playing to make NNPC more functional. He also highlighted that despite the various moves to privatize some of the Nigerian refineries that the government will continue to play vital roles in improving refinery capacities. On local content policy, Delano commented that it is proper to ensure that the corporate social responsibility of foreign operators help in improving the living conditions of the communities where they operate. In order to achieve this, operators must configure ways to deliver value to host communities; stakeholders to build dockyard to support local institutions and feed growth.
Dr. Ugo Nwokeji Asst. Professor of African-American Studies, University of California - Berkley
(L) Emeka Chiakwelu, Director of Afripol (R) Severo Obono, Director of Production, GE Petrol
In his paper: “The NNPC and development of the Nigerian oil and gas industry: history, strategies and current directions”, Dr. Ugo Nwokeji, Asst. Professor African American Studies, University of California-Berkley, explained that oil and gas remain the major revenue earner for the government of Nigeria. He pointed out that oil has become an instrument of politics in what he christened: petro-politics. In his final analysis, Dr Nwokeji evaluated all the subsidiaries of NNPC and gave credit to NETCO and NPDC as the two most functional subsidiaries of NNPC. Both subsidiaries have upstream operations.
Amadou Bah, a Petroleum Economist, Aurep, Mali, in his key note address: Outlook on exploration opportunities in Mali, described the historic nature, system of government and what the government of the Mali is doing to create exploration opportunities in the country. He explained that an attestation of the zeal of the government of Mali to encourage exploration activities led to the creation of a structure of promotion called “Authority for the promotion of oil research” (AUREP) at the end of year 2004. The authority is headed by a director. The deputy director of AUREP, Henri Coulibally also participated in the conference.
Other notable speakers in the conference who delivered papers were: Severo Eneme Obono, Director of Petroleum, GE Petrol. Obono spoke on current progress and potential opportunities in Equatorial Guinea. Leonardo Cardoso, Director General of Petroquin, made his speech on the third exploration licensing round in Guinea Bissau. Legal challenges in investing in Guinea-Bissau were the title of the paper delivered by William Prescott Mills-Schwind, Partner at Fulbright & Jaworski. Dr. Kevin Hird, General Manager for Business Development, ROC oil spoke on the subject: Return of onshore exploration activities to Cabinda. Equity investments in West Africa were the platform on which Frank Taverner spoke. Mr. Traverner is the Principal, Oil, Gas, mining and Chemicals Department. Peter Goodall, Managing Director CALYON, whose company was also the major sponsor of the conference, addressed the issue of project financing in West & Central Africa.
Delegates from Ghana – Team of Petrleum Engineers & Legal Experts.(second from right) Dr. Justina Akyeampong, Chief Legal Officer
(L) Cheik, Senegalese (Houston base), Bah, Leornado Cardoso Director General PetroGuin EP, AL Hosseynou Wane Exploration Manager, Petrosen
The event was concluded on the third day with key note address from Al Housseynou Wane, the Exploration Manager of Petrosen, who highlighted on the future of hydrocarbons exploration in Senegal. Monica Enfield, Head of Petroleum risk Management, PFC Energy emphasized in her paper on Asian investment strategy towards Africa.
Tim O’Hanlon, Vice President African Business, Tullow Oil PLC presented a paper on Tullow Oil’s up-to-date Africa Story. At the time of filing this report, Tullow oil has discovered 600m barrels of light oil in Ghana’s offshore more than the initially estimated 250m barrels. John Kufour, the president of Ghana in an interview with BBC enthusiastically said “My joy is that I’ll go down in history as the president under whose watch oil was found to turn the economy of Ghana around for better. Jeff Mitchell, Senior Vice President Exploration and Business Development at Vanco Energy Company addressed the delegates on his company’s latest developments in Cote d’Ivoire and Ghana.
( L) Eamon Akinosho, MD/CEO Oando Explo. Nigeria, Sunny Oputa, CEO Rence-Mannix Inc, Abiola Lawal, Group Chief Strategy Officer, Oando Nigeria, Emeka Chiakwelu, Director Afripol
Jeff Mitchel of Vanco delivering his key note address
Eamon Labode Akinosho, The managing Director & CEO of Oando Exploration and Production Limited was forth right in showcasing his company in a paper captioned: Lessons from Nigeria’s largest energy group.
At the end of the conference it was obvious that Africa occupies the center of global affairs and the world is seriously focusing on Africa. However, this should be considered a prime time for Africa to reinvent itself as a strong economy to the benefit of her people or remain in obscurity.