5th Anniversary of East Africa’s most prestigious oil and gas summit
2018 will see the East Africa Oil & Gas Summit celebrate its 5th Anniversary as the most prestigious oil and gas summit in the region.
Significant onshore oil discoveries in Uganda and Kenya and offshore gas discoveries in Tanzania and Mozambique have made East Africa a subject of intense interest among the global energy industry.
The speed at which governments in East Africa are developing hydrocarbon reserves is a clear indication of their will to cement the region’s reputation as the new hotspot in hydrocarbon exploration and production. Recently, Tanzanian President John Magufuli ordered that exploitation of natural gas begin as a matter of urgency, whilst Kenya’s President Uhuru Kenyatta announced that the government has brought forward the country’s oil production deadline by two years and ‘set a path’ that will enable the country to become a major producer and exporter by 2019. The Early Oil Pilot Scheme (EOPS) Agreement between the Joint Venture Partners and the Government of Kenya was signed on March 14, 2017, allowing all EOPS upstream contracts to be awarded. The EOPS production of 2000 barrels per day is expected to commence around the end of the year.