Oil & Gas
Until the last few years East Africa has been a sleepy backwater for the upstream industry, but the discovery of significant quantities of oil in Uganda in 2006 has ushered in a bonanza. Onshore oil discoveries in Uganda have been followed by discoveries in Kenya. Offshore we have seen world-class discoveries of gas in Tanzania and Mozambique. Now every potential hydrocarbon basin across East Africa is the subject of intensive interest.
We have also seen an influx of majors, super-majors and big independents. Indeed so rapid has the industry‟s progress been that this slim volume has been through a number of re-writes before it even reached the public domain.
It is important to bear in mind that East Africa remains one of the world‟s poorest, least developed regions. Many of its inhabitants live on less than a dollar a day. The development of oil and gas will provide a major stimulus to the local economies and will require extensive upgrading of the existing infrastructure. Governments across the region are already looking at how to harness the power of the industry to benefit their people. At the same time oil and gas companies are also focusing their efforts on the development of local content and local capacity. The arrival of the international oil and gas industry offers hope of a better life for millions.
Expectations across the region are high, but there is still a long and (perhaps) winding road to follow before upstream oil and gas exploitation starts to deliver results in terms of higher living standards and increased tax revenues for governments.
HOP expects to use its expertise in harnessing local content strategies that will impact the government, its citizens, the environment and more.