As an AAPG Region, Africa has taken part in the Imperial Barrel Award Programme(IBA) since 2008. It is a global competition organized annually by the American Association of Petroleum Geologists (AAPG), among its Regions and Sections.
Post-graduate geosciences students from around the world are given real-life petroleum industry data which they have to study, interprete, package and present to industry experts as a new ventures project or opportunity. Students of an IBA team act as a New Ventures Group of an operating oil and gas company, assigned the task of making a detailed assessment of the petroleum potential of a newbusiness opportunity, in just eight weeks. They are expected to “think outside the box” and look at new exploration models based on the most recent published research and their given education.
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