The African Energy Chamber (AEC) hosted senior industry leaders at a breakfast event entitled ‘The role of indigenous Oil and Gas resources in Developing South Africa’s economy’
The AEC stated that participants came from international oil companies, local and internationally operating services companies and the public sector.
The topic on the chamber discussion was how to best harness oil major Total’s recent offshore gas discovery for the benefit of local businesses in South Africa and the economy as a whole.
The speakers included Niall Kramer, CEO of the South African Gas Alliance (SAOGA), Dave Van de Spu, resource evaluation manager of the Petroleum Agency South Africa, the department of trade and industry’s director of up and midstream oil and gas Kishan Pillay and AEC’s senior vice-president Verner Ayukegba.
Advising on the regulatory framework and oil investment issues, Centurion Law Group CEO and AEC Executive Chairman NJ Ayuk said Africa’s natural resource story doesn't always have to be the same.
“South Africa has a great opportunity to get it right and make oil and gas work for everyone. Gas monetisation is vital to development and job creation. Policy makers have a huge role to play and a lot of good deals will be done for local companies. We hope field development plans will not be delayed and a quick offering of more oil blocks to explorers like ExxonMobil, Eni and others to drill will be good for the industry and the country,” he elaborated.
“These changes to the oil industry and opportunities in South Africa will take centre stage at the October 2019 Africa Oil and Power event in Cape Town,” he stated.
The South African government is working on new legislation that will, among other things, separate the legislature on oil and gas from traditional minerals. This is likely to be ratified this year, according to SAOGA CEO Niall Kramer.
In the midst of the thought-provoking discussions around South Africa’s current infrastructure, production forecast, local content policies and regulations, Kishan Pillay, director: up and midstream oil and gas (Dti) asked for time to put in the right regulatory framework.
South Africa has released a new Integrated Resource Plan (IRP 2018) to install an additional 8,100 MW of gas-to-power capacity in South Africa by 2030.
