London, UK (05 June 2018) – Hon Minister Thierry Tanoh, Minister of Energy, Ivory Coast is confirmed to attend Oil Week 2018 which will take place in Cape Town, South Africa on the 5-9 November 2018 joining eight other African Ministers. With 88 upcoming oil and gas fields to receive more than US$180Bn by 2025, having such strong government representation of nine Ministers attending to deliver bidding rounds and investment opportunities reinforces the unique value of Africa Oil Week as the annual transaction platform for Africa.
The Ivory Coast has failed to match the lustre of neighbouring Ghana in terms of interest in oil and gas exploration. The upstream sector in the Ivory Coast could be described as modest, growing and full of potential, with proven oil reserves of 100m barrels and gas reserves of 1.0 Tcf. Much of the country's most promising acreage is in deep or ultra-deep water, which can be problematic, although following a few discoveries and investments that have happened in quite quick succession, some industry observers claim that the country is on the cusp of deeper-water commercial success. Despite the optimistic outlook, IOCs are still wary of tying up funds in expensive deepwater frontier exploration in a country that has only recently come out of a long period of political instability. Another positive note is that the country’s Petroleum Code caters for several types of Petroleum Contracts and offers incentives concession and production sharing agreements.
Over the course of the week, leading nations will take meetings and present proprietary information regarding up-and-coming projects exclusively at Africa Oil Week. From shallow water licencing in Congo Brazzaville, to billion-dollar tenders in critical infrastructure, there is a growing anticipation from the global petroleum companies that Africa Oil Week 2018 is the most compelling opportunity to originate and win licences, farm down partnerships and finance within the African Oil and Gas sector.
“Attracting inward investment for upstream activities and field development is critical if Africa is to realise its full energy potential.” Added Paul Sinclair, Conference Director for Africa Oil Week. It is in this context that Africa Oil Week will deliver a transactional based event that will see multi-billion-dollar deals agreed to which will advance national objectives across the continent.
“We are truly honoured by the attendance of so many Government Ministers. In my view, this demonstrates that Africa Oil Week is the premier meeting point for the African Oil and Gas sector. It not only gathers the most senior community of Ministers and National Oil Companies, it remains the only true world class deal making event for the global private sector. The importance that global partnerships are now playing in developing Africa’s energy resources only underlines the need for Africa Oil Week. With 54 highly competitive countries looking to develop their vast resources we are delighted to be hosting 17 National Oil Companies who will also be undertaking their role to promote their petroleum sector within roadshows and bidding rounds. The role of Africa Oil Week as a catalyst for deal making sets itself apart from talkshops, we are expecting unprecedented levels of investment and finance to be deployed into the African upstream as a result of the 2018 Africa Oil Week.” said Paul Sinclair, Conference Director, Africa Oil Week.
The event provides a platform for African nations and those operators to present deals, farm in opportunities, data rooms and basin insights in some of the most compelling basins across the continent. Attendees value the opportunity to get face time with Ministers, CEOs, Banks and operators at what is still regarded as the must attend event for the African hydrocarbon sector.
For more information about Africa Oil Week 2018, please contact:
Africa Oil Week
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