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Cameroon Calls for Expression of Interest for Limbe Gas to Power Plant

Cameroon has launched a call for expression of interest to pre-qualify partners for the study, construction, and operation (Build, Operate and Transfer mode) of a gas-fired thermal power plant in Limbé, in the country’s Southwest.

Bidders have until July 10, 2020, to submit bids for this project, which must be completed by 2024, according to the government’s timeline.

With a production capacity of 350 MW, the Limbe gas-fired power station is expected to improve the supply of electricity in the Littoral, West, and South-West regions, a statement by the Ministry of Energy noted.

The Limbé power project is expected to include the conversion to natural gas of an existing 85 MW heavy- fuel-oil-fired reciprocating power plant and the addition, at the same site, of 265 MW of new-plant capacity. The new construction will be a combined-cycle, gas-fired plant.

Over the past 12 years, several actors have been involved in one iteration or the other of this project. With this expression of interest, it does seem as if the Cameroonian government has severed relationship with these players.

 


Will Schlumberger Treat Otakikpo the Way It Treated Madu/Anyala?

Macson Otiti, in Port Harcourt

In November 2018, Schlumberger pulled out of the Madu /Anyala field development project offshore Nigeria.

It was 17 months after the oil service giant had inked a tripartite agreement to be financier and technical service provider on the project, with the Nigerian independent First E&P, operator of the asset, and NNPC, the state-owned partner.

Schlumberger’s decision to pull its $724Million funding for this development in Oil Mining Leases (OMLs) 83 and 85, has been kept out of public scrutiny by all the parties involved.

But as the company moves on to another Nigerian field development project, questions are being raised: Will Schlumberger prevail through the life of the Otakikpo field expansion project? Or will it, again, pull out?

These questions are grounded in some context.

Five months before Schlumberger walked out of the Madu/Anyala, it had pulled out of another planned investment in West Africa: the Fortuna NLNG project off Equatorial Guinea.

Schlumberger was involved in the Fortuna LNG project through OneLNGSM, a Schlumberger/Golar LNG joint venture partnership with which operator Ophir Energy had signed a binding Shareholders’ Agreement, to develop the 2.2Million Tonnes Per Annum Fortuna NLNG.

OneLNGSM owned 66.2% of the $2Billion project of which $1.2Billion was to be debt financed. Schlumberger did say it pulled out of OneLNGSM because the Fortuna project was unable to finalise attractive debt financing in time.

Less than a month after the mighty Schlumberger withdrew from OneLNGGSM, Gabriel Lima Obiang, the Equatoguinean Minister of Mines and Hydrocarbons (MMH), noted that the government could bring in some other investors to the project to replace Ophir. He referenced the expiration of the Block R licence at the end of 2018.

The minister did not renew the licence, effectively tossing out Ophir Energy’s five-year appraisal drilling, FEED studies, and three-year widely publicised effort to raise finance. Faced with the loss of its biggest development on the continent, Ophir has since exited its entire portfolio in Africa.

First E&P has not suffered the same fate as Ophir. It has struggled too, though, and scaled down the number of wells needed to drill to get to first oil by more than half. In its case the state has been more benevolent:  the Madu/Anyala development has benefitted from ready cash call payments by NNPC.

The Otakikpo field is operated by Green Energy International Limited (GEIL), which has the London listed LEKOIL as financial and technical partner. Schlumberger, officially never responded to enquiries from Africa Oil+Gas Report. But highly regarded sources who are familiar with the company’s working, say that the Schlumberger’s financial exposure in the two projects: Otakikpo and Madu/Anyala are dissimilar. And the terms are different.

Whereas the Madu/ Anyala project was to be executed under Schlumberger Production Management SPM, in which the company is an investor and recoups its money on production,  the deal on Otakikpo is being consummated under the company’s Asset Performance Solutions (APS) scheme, in which case Schlumberger is not putting a single dollar on the table, but using its brand to help the partners pull in financiers. “Schlumberger’s involvement in Otakikpo is a support by way of investing sweat equity and integrity”, our sources say.

Still, there’s something unnerving about a partner who has dropped out of two hydrocarbon field developments inside of the last two years.

GEIL signed a Memorandum of Understanding (MoU) with a consortium of international financiers for a package of more than $350Million, to take forward the second phase development of Otakikpo. The consortium includes an international bank based in London, a crude oil off-taker and an EPC contractor. The Field Development Plan FDP of the project involves the drilling of seven additional wells (there are two producing wells already) and expansion of the crude processing infrastructure. The plan also includes the construction of a 1.3Million barrels onshore terminal and a 17 kilometre export pipeline to connect the terminal to an offshore loading system. GEIL director of corporate affairs Olusegun Ilori said that the company intends to increase production from 6,000 barrels per day (BOPD) to 20,000BOPD.

Anthony Adegbulugbe, chairman GEIL has been quite enthusiastic about the work programme and vocal in the media about the financial and technical partnerships he has attracted on board of this expansion project. With COVID-19, there may be delays, the cost of debt financing may go up and the project may have to be phased, but Otakikpo expansion looks likely to go on. The one other worry is, as Schlumberger is the main subsurface service vendor, and its services come at premium cost, continual benchmarking with the rest of the industry is key. After all, this is the era of bare bone cost of production.

 

 


Nigerian Companies Are the Biggest Defaulters on Ghana’s Concession Rentals

Sahara Energy Fields, Brittania U and Erin Energy, all founded by Nigerian businessmen, are among the the eight Exploration and Production Companies, that were in default of one payment or another to Ghanaian Tax authorities as of February 2019, the latest date for which data are available.

With $587671.23 behind in both arrears and 2019 outstanding, Swiss African Oil owed the most, according to  Public Interest Accountability Committee, Ghana’s equivalent of NEITI. SAO was followed by Brittania U and Sahara Energy Fields, both Nigerian owned companies, indebted to the tune of $456, 879.26 and $409,315.07 respectively. The fourth most indebted to the Ghanaian state was Gosco/Heritage, with $334,850.00 in both arrears and 2019 outstanding.

Erin Energy, also a Nigerian founded company, owed $151,200. The least indebted companies were Medea $78,050; UB Resources, $37,050 and Springfield, $33,650.


LEKOIL Gets A Breather on $7.6Million It Has to Pay to Optimum

By Foluso Ogunsan

AIM Listed LEKOIL says it reached an agreement with Optimum Petroleum Development Company, the Operator of the Oil Prospecting Lease (OPL 310), on deferring the final tranche of payment of $7.6Million due on or before 2 May 2020.

The companies had earlier jointly decided that final payment of $9.6Million, in aggregate, would be made to Optimum to cover sunk costs and consent fees for LEKOIL’s 17% farmed in interest. This final payment was to be made in two tranches with the first payment of $2Million completed as announced on 3 April 2020.

Now Optimum and LEKOIL have agreed on a deferred payment schedule as follows: the sum of $1.0Million to be paid on or before 15 July 2020; the sum of $2Million to be paid on or before 2 September 2020, and the sum of $4.6Million to be paid on or before 2 November 2020.

OPL 310, located in 100 to 200metre water depth in the Benin Basin, offshore Lagos, Nigeria, contains the Ogo field.

The field was discovered in 2013, with LEKOIL and (then partner) Afren, now defunct, describing it a significant discovery and claiming estimates of P50 recoverable resources of 774 Million Barrels of Oil Equivalent (MMBBOE) a figure which far exceeds the expected pre-drill estimate of 202MMBOE.

 

 

 


Geophysical Contractors Seek Fiscal Relief from African Governments

The International Association of Geophysical Contractors IAGC, is asking for financial relief from regulatory authorities and banking institutions in hydrocarbon prospecting and producing countries in Africa.

Such relief is being sought in order to mitigate the negative effects of the global crisis

In collaboration with the Johannesburg based African Energy Chamber, the contractors are making several demands on governments, including waiving taxes on service companies for six months; waivng withholding taxes, especially for non-resident companies, for six months.

“These measures are intended to mitigate the expected loss of jobs and abandonment of erstwhile viable projects in the African oil and gas sector in the face of a global recession”, the IAGC says in a joint statement with the AEC.

The two organisations are urging banks to provide no interest loans and loan guarantees for local service companies with ongoing projects with operating E&P companies. They are asking governments to grant extensions on all exploration projects for 24 months; extend the non-exclusive geophysical data confidentiality periods to a minimum of 15 years where such is not already in place; waive part of the work project commitments for exploration companies.

They are also praying for setting up and implementing government and private sector discussions on revising some of the fiscal terms in the Production Sharing Contracts “that make it difficult for explorers to meet commitments in today’s market environment and aid capital fundraising”, and they want a 50% reduction in fees due to the state like training funds, surface rental, social projects et.

Nikki Martin, President of the IAGC highlighted the importance of the geophysical and exploration (G&E) industries in maintaining a stable energy industry. “National Authorities should be working to maintain expected timelines for licensing rounds, including all review periods and award announcements which contribute to business certainty and a stable pipeline for future oil production. Energy security for the continent will only be ensured with continued exploration,” she said. “The G&E industry provides the key to unlocking energy resources that will allow for rebuilding economies when the COVID-19 virus has run its course, however, in order to rebuild, there must be a viable energy industry when that time comes.”

 


Equatorial Guinea Grants Two Year Extension for All Oil & Gas Licences

One month after it announced the waiving of its fees for oil service companies in the country, Equatorial Guinea has granted E&P companies a two-year extension on their exploration programmes.

The grant, the country says, “will also ensure flexibility on the work programmes of producing companies to ensure growth and stability in the market”.
In late March, the Ministry of Mines and Hydrocarbons MMH said it took the unanimous decision to waive its fees for service companies for a duration of three months, adding that it recognised the fact that the oil sector continues to be the largest private sector employer in the country and “we want to give our local services companies the means to weather the storm and avoid any jobs being lost”. It said it was “the first action to be taken to support oil & gas services companies in the wake of the oil price drop caused by the coronavirus pandemic”.

Oil prices have headed farther south in the four weeks since that first announcement, with the horizon even cloudier. Yesterday’s press release announcing the grant of extension of tenor of acreage licences came less than a week after the Petroleum minister, Gabriel Mbaga Lima Obiang, suggested at a webinar that countries should be granting extensions for E&P licences at this time, as companies would be unable to carry out work programmes with any clarity until 2021.

“The Ministry of Mines and Hydrocarbons remains concerned about the resounding impact of the drop in oil prices, COVID-19 and its dramatic consequences on our hydrocarbons industry”, says the release.

“At a time of great uncertainty, we have an obligation to make bold, decisive, and pragmatic policy decisions to get the industry moving again,” the statement explains, adding  that the government is fully committed to safeguard local oil & gas industry, its companies and its employees.

“The granting of these extensions has been deemed suitable to create an enabling environment for international and African companies to keep investing in Equatorial Guinea and ensure a quick recovery of our industry.

“The MMH will continue working with oil companies benefitting from such incentives to make sure that the recovery of Equatorial Guinea’s oil sector is made on the back of local content promotion, increased technology transfers, and procurement of additional local goods and services. A particular emphasis will be put on educating, training and promoting local workforce to help further reduce operational costs for international companies while maximising the creation of local value and revenue”.

With these proposals, the Equatoguinean authorities say they guarantee existing investments into Equatorial Guinea, while empowering local companies to assist their foreign partners in safeguarding and increasing their operations in the country.

“Some of these companies operating in Equatorial Guinea notably include ExxonMobil, EGLNG, Marathon Oil Corp, Atlas Petroleum, Kosmos Energy, Noble Energy, Glencore, Royal Gate Energy, Gunvor, Trident Energy, etc.

“Such historic measures are being rolled out as Equatorial Guinea implements a series of landmark projects across its upstream, midstream and downstream industries. The backfill project is already ongoing to pool supply from stranded gas in the Gulf of Guinea and replace declining output from the Alba Field. Meanwhile, the ongoing Year of Investment has generated strong interest from various existing and new players in Equatorial Guinea to build and expand midstream and downstream infrastructure and maximise local processing and transformation of domestic crude oil and natural gas.”


Capital Increase Reserved for Employees of the TOTAL Group in 2020

French major TOTAL says it is implementing its annual capital increase reserved for employees and former employees of the group, in accordance with its policy in favour of Employee Shareholding.

Through this operation, TOTAL S.A. intends to continue involving its employees in the Group’s business and growth.

Employee shareholders, within the meaning of Article L. 225-102 of the French Commercial Code, held 5.3% of the Company’s share capital as of December 31, 2019.

The eighteen resolution of the Shareholders’ Meeting of June 1, 2018 granted the Company’s Board of Directors the authority to decide, within a maximum period of 26 months, to carry out one or more capital increases of ordinary shares without preferential subscription rights, not to exceed 1.5% of the Company’s share capital at the date of the Board meeting resolving on the operation and reserved to members of a savings plan pursuant to the provisions of Articles L. 225-129 and seq., and L. 225-138-1 of the French Commercial Code and Articles L. 3332-1 to L. 3332-9 and L. 3332-18 to L. 3332 24 of the French Labor Code.

The Board, pursuant to the above-mentioned authorization, decided during its meeting on September 18, 2019 to carry out, in 2020, a new share capital increase reserved for employees and former employees of the Group pursuant to the following conditions:

  •  Maximum number of shares offered and total amount of the offer: 18 million shares with a nominal value of €2.50 each, representing a total nominal amount of €45 million, which is the equivalent of 0.67% of the Company’s share capital as of the date of the Board’s decision.
  •  Description of the newly issued shares: same category as existing shares with immediate dividend rights. The rights attached to the newly issued shares are the same than the rights attached to the existing shares of the Company, and are described in the articles of association of TOTAL S.A.
  • Listing of the newly issued shares on Euronext Paris: on the same line as existing shares from their issuance. American Depositary Receipts corresponding to the newly issued shares may also be listed on the New York Stock Exchange.
  •   Share subscription price: 26.20 EUR per share, corresponding to the average of the closing prices of the TOTAL shares on Euronext Paris over the 20 trading sessions preceding April 29 (“Reference Price”), reduced by a 20% discount and rounded off to the highest tenth of a euro.
  • Timeline of the subscription period: from May 6, 2020 to May 18, 2020 included.

 


Kenya Makes $14 Million From ‘Trickles’ of Oil Export

By Toyin Akinosho

Kenya’s Bureau of Statistics says the country earned $14Million from 324,000Barrels of crude oil it exported from oilfields in Turkana County.

The government had devised an unusual production scheme, involving trucking of small volumes of crude from the oil fields in Turkana in the north of the country, to Mombasa, the southern coastal port town on the edge of the Indian Ocean.

The so-called Early Oil Pilot Scheme (EOPS) at Ngamia and Amosi fields was commissioned in June 2018. The scheme is operated as part of an agreement between the Kenyan Government and the E&P partners, including the operator Tullow Oil, TOTAL and Africa Oil Corp.

The Uhuru Kenyatta government said that the scheme was designed to comprehend the reservoirs’ flow assurance, prior to the commencement of full-blown commercial development

Kenya started exporting the commodity from Mombasa in August 2019, with the value of inaugural shipment of 200,000 barrels, bought by ChemChina UK Ltd, for an estimated $12Million.

The scheme “continued to register improved production with daily transportation, increasing from 600barrels of oil per day (BOPD) to 2,000BOPD  in the review period”, the Kenyan Bureau of Statistics said in the report: Kenyan Economic Survey 2020 released Tuesday April 28, 2020.

But in January 2020, which is outside the scope of the report, Tullow Oil reported it had suspended the transport of crude oil from Turkana to Mombasa due to incessant rains that caused severe damage to roads. While the scheme lasted, the London listed company used over 100 tankers to move 2,000 barrels per day over 1,000 kilometres.

The decision to call the trucks off the road meant that the government was unlikely to meet its shipment target of 500,000 barrels of oil.

Kenya had projected crude oil export target for this year at 500,000 barrels before the partial lockdowns related to COVID-19 pandemic were enforced.

In March 2019, President Kenyatta signed into Law the Petroleum Act of 2019, which allocates 75% of state-designated oil profits to the central government, 20% to oil-producing counties and five percent to local communities.

 


Smart Policy Options Will Safeguard Nigeria’s Economy from COVID-19 Shocks

The Nigerian Natural Resources Charter (NNRC) has urged the Nigerian government to act quickly on a number of reform items, long on the drawing board, if the country “is to minimize the effects of the inevitable recession contributed by falling oil prices, depreciating revenues, and rising debt ratio,” that are aggravated by the rampaging global pandemic known as the Novel Coronavirus Disease 2019 (COVID-19 for short).

Drawing on the benchmarks and the gaps identified in its recently published 2019 Benchmarking Exercise Report (BER), the Charter acknowledges the government’s recent steps; “to deregulate the downstream sector, re-open bid rounds of marginal fields, cut the 2020 budget, contemplate privatization of the refineries and others”.

But “to optimize the opportunities from oil and gas exploitation to withstand the prevailing COVID-19 shocks and its after effects”, the Charter urges, “Nigeria must consider the following policy options to stabilize the sector, maintain revenue flows, attract investment and drive growth:

  • Maintain peace and stability in the Niger Delta to sustain revenue flows from oil production. Sustaining benefit transfer schemes by NDDC, MNDA and other interventions will support the government’s stabilization efforts;
  • Improve coordination between federal and Niger Delta state governments on the response to the COVID-19 pandemic including the design and implementation of stimulus plans;
  • Liberalize the downstream sector to allow market forces determine pump prices for petroleum and other products. This will ensure the availability of revenues necessary for more critical areas of the economy;
  • Improve the efficiency of the downstream oil sector by reviewing its policies, regulations and operational guidelines to ensure profitability, improved private sector participation and improved employment;
  • Adopt and constitutionalize a savings mechanism with clear and transparent operational rules. This could be by retaining the more effective sovereign wealth fund (SWF) in the NSIA and transferring funds from the Excess Crude Account, the stabilization fund and other similar funds to the SWF. This will help fortify the Nigerian economy from oil price volatilities and other economic shocks. Ramping and prioritizing domestic gas-based industrialization projects, to diversify Nigeria’s energy supply, increase local employment and reduce domestic demand and Nigeria’s reliance on oil;
  • Support a major and urgent shift to gas in terms of investment focus. Gas supply to domestic market for power, industrial & manufacturing feedstock and enabler to economic development. Emphatic shift to the gas value chain offers Nigeria the leverage for socio-economic development in the medium to long term; ·
  • Fast-track the passage of the petroleum industry bill to bring about the fiscal, governance and regulatory clarity required to monetize Nigeria’s 200 Trillion cubic feet of gas reserves. Speedy passage of the Petroleum Industry Bill will provide a clearer strategic direction to the entire industry, re-engender trust, thereby increasing investments which will in turn increase national revenues required for development;
  • Review the existing fiscal framework to ensure competitiveness and support Nigeria’s ability to attract investments into the upstream sector, effectively shoring up Nigeria’s diminished reserves;
  • Institutionalize cost management strategies within the sector with the overall objective of reducing the high unit production cost of crude thereby improving governments revenue from the sector;
  • Immediately privatize refineries as stated by NNPC to improve Nigeria’s access to finished products in country, reducing potential for over reliance on external support for products, to preserve Nigeria’s sovereignty; and
  • Sell off unviable government owned oil assets to raise revenue and boost efficiency in the short to medium term.

“Adopting these reforms will improve Nigeria’s competitiveness, revenue inflows and improve her ability to survive and subsequently recover from the effects of COVID-19 on the global economy”, the NNRC  explains, asking that the government be consultative in its approach to reforms, transparent and inclusive to increase likelihood of acceptance and implementation.

“Prioritizing these reforms are necessary while Nigeria considers other medium to long term reform plans simultaneously. The NNRC’s 2019 Benchmarking Exercise Report (BER) outlines other sector gaps to be focused on in the medium to long term to improve Nigeria’s oil sector performance. These can be found on the NNRC website on www.nigerianrc.org/2019-benchmarking-exercise-report.”

 


East Africa: The Unfolding Story

The forward movement of the Lake Albert Development Project, and its export pipeline, is a major step forward to de-risking other potential oil & gas projects in the region.

The recent acquisition by TOTAL of Tullow Oil’s entire interests in the Lake Albert Development Project in Uganda, including the East African Crude Oil Pipeline, marks the beginning of a new chapter for East Africa’s energy industry. To dissect the deal and discuss its wider implications for the region, the African Energy Chamber organised a webinar with leading regional industry experts, held under the Chatham House Rule.

Featuring key officials and representatives from Stanbic Bank, Standard Bank, Shell, Baker Hughes and the Kenya National Oil Company, the webinar was hosted by Elizabeth Rogo, Founder & CEO of TSAVO Oilfield Services and President of East Africa at the African Energy Chamber.

Good or bad deal?

Under the agreement announced last week, the overall consideration paid by TOTAL to Tullow will be $575Million, with an initial cash payment of $500Million at closing and $75Million when the partners take the Final Investment Decision (FID) to launch the project. Under the terms of the deal, TOTAL will acquire all of Tullow’s existing 33.3334% stake in each of the Lake Albert project licenses EA1, EA1A, EA2 and EA3A and the proposed East African Crude Oil Pipeline (EACOP) System. The Lake Albert project, which consists of TOTAL operated Tilenga Project, with a production capacity of up to 190,000BOPD, and CNOOC operated Kingfisher, with a production capacity of up to 40,000BOPD, will propel Uganda in the top 5 of sub-Saharan Africa’s oil producers. In addition, the proposed 60,000BOPD refinery and some of the overarching issues were mentioned.

The deal is a win-win for all stakeholders involved. First, for TOTAL, who ends up acquiring Tullow Oil’s entire interests in the Lake Albert development project for less than $2/barrel. Then, for Tullow Oil, whose debt is rising and who is looking at raising $1Billion by selling some of its key assets. The company’s shares rose on the announcement of the deal. Finally, it is a win for Uganda’s oil industry and local jobs. After years of deliberations and debate, the closing of the sale allows the country and oil companies to move the conversation towards FID and practical project’s development. It also sends strong signals to the rest of the region, and Kenya in particular, to do everything possible to unlock their own oil & gas potential.

While visibility on the FID’s timeline remains unclear, the project is very competitive even in a depressed low oil prices environment. The cost per barrel of the integrated Lake Albert Development Project is indeed estimated at around $50. This is explained in part because the country’s hydrocarbons are within shallow deposits which are less drilling intensive and do not need as much casing, tubing and completion work. While TOTAL is following a global trend of drastically cutting expenses in light of the COVID-19 pandemic and the collapse of oil demand and oil prices, the project’s economics make it one of the most likely to get FID in the near future.

A key unanswered question for now is whether CNOOC will exercise its pre-emption rights under the joint operating agreements it has with Tullow Oil and TOTAL as a joint venture partner, like it did in the failed 2017 sale. A scenario under which the Chinese major does exercise once again its pre-emption rights is very likely, and will in fine depend on China’s overall strategy for the wider East Africa region.

Pipeline matters

The progress of the Lake Albert Development Project, and its export pipeline, is a major step forward de-risking other potential oil & gas projects in East Africa and making them attractive for investments and financing. Given the current industry dynamics and potential liquidity constraints, participants agreed that a scenario under which two regional pipelines would be laid was becoming more challenging. The size of Uganda and Kenya’s discovered reserves along with the capital and financial muscles of their operators will be factors weighing in which pipeline gets executed.

The EACOP was, however, a matter which participants thought could become contentious for the execution of the overall Lake Albert project, and the development of the region’s oil sector. Key questions remain to be answered, chief amongst them being Tanzania’s business environment and the country’s ability to provide policy certainty on the execution of such a major infrastructure venture. Whether Tanzania decides to stick to an enabling business environment and demonstrate its willingness to cooperate with international investors after years of natural resources nationalism remains another unanswered question.

The way the execution of the pipeline evolves will determine a lot of East Africa’s oil industry future. While the original northern route through Kenya was deemed less favourable, a scenario under which TOTAL would consider buying out Tullow Oil’s assets in Kenya, where several significant oil discoveries were made, could potentially re-roll the dice in the region.

Regional content, now

Finally, and more importantly, the expected first oil from Uganda in the coming years should urgently lead to local content preparations not on a national, but a regional level.

Between the two upstream projects of Tilenga (TOTAL) and Kingfisher (CNOOC), the pipeline project and the Uganda oil refinery project, the scale of upcoming projects in Uganda and the neighbouring countries represents billions of dollars of opportunities for local companies. However, given the under-developed nature of the local hydrocarbons services industry in East Africa, only regional partnerships and joint-ventures can result in maximising such opportunities. As the conversation in Uganda moves towards employability within local communities and ensuring that Uganda’s oil benefits the development of a strong local sector, the region as a whole needs to come together to support regional ventures. Unless companies across East Africa come together and leverage on their respective expertise and experience to work together, there is a fear that upcoming oil and gas projects will ultimately go to foreign contractors and deprive local businesses from tremendous growth opportunities. In this regard, the development of an African regional content is one of the top 10 measures that form Africa’s Common-sense Energy Agenda, released by the African Energy Chamber earlier this week.

In this context, the need to invest in education, training and skills transfer is greater than ever. The success of the region’s oil sector will depend on all stakeholders coming together to bring the East African energy story to investors

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