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Here are 3 points the Executive Secretary, Nigerian Content Developing and Monitoring Board, Engr @SimbiWabote expressed during the session on “The Global Private Sector's Role in African Socio-Economic Development” (follow the thread) #OandoAtAOW2018 #AOW2018
1. “Local content is not CSR. For me it is an existential imperative for any country in terms of allowing its citizens participate in the oil and gas sector in particular” #OandoAtAOW2018 #AOW2018 
2. “If anyone comes to the board with new technology that requires expert position, the board will give its approval but with a clear plan that states that within a space of 4/5 years, 80% of those positions must be replaced with locals... #OandoAtAOW2018 #AOW2018
(1/3) Around the world, women still face more barriers to achieving career success than men; this is particularly evident in the oil and gas industry.
#OandoAtAOW2018 #AfricaOilWeek #AOW2018
#OandoAtAOW2018 #AfricaOilWeek #AOW2018
(2/3) How are we solving this? By creating an equal opportunity environment to address the gender gap; and our efforts are paying off.
#OandoAtAOW2018 #AfricaOilWeek #AOW2018
#OandoAtAOW2018 #AfricaOilWeek #AOW2018
(3/3) We're glad to be performing better than The Boston Consulting Group (BCG) average for metrics such as ‘women technical roles’ and ‘female executives.’ #WomenWithWings
#OandoAtAOW2018 #AfricaOilWeek #AOW2018
#OandoAtAOW2018 #AfricaOilWeek #AOW2018
-- Hon Minister Dr. @IbeKachikwu, Minister of State for Petroleum Resources - Federal Republic of Nigeria on the ‘Ministerial insights: National E&P strategies’ Panel. #OandoAtAOW2018 #AOW2018
4. “We are trying to change our laws to make gas an independent viable business in the country; we believe that it will transform the economy ” -- Bello Rabiu, Chief Operating Officer Upstream, NNPC on the African Production Outlooks Panel. #OandoAtAOW2018 #AOW2018
5. “Zohr which was discovered in 2015 currently produces 2bcf per day and we have plans to round this up to 2.7bcf per day by 2019” -- Luca Bertelli, Chief Exploration Officer, @eni on the African Production Outlooks Panel session at @africaoilweek #AOW2018
#OandoAtAOW2018
#OandoAtAOW2018
2. "Africa has all the components for competitiveness, there are fantastic prospects in the exploration space, low cost production and most importantly there is a skilled force in Africa that any company can tap into." -- @paulmcdade on the Economic Outlook Panel. #AOW2018
3. "The oil sector has been the catalyst for growth in the Nigerian economy. It has also driven technology. Private owned companies in Nigeria have gotten to a point where they can go to other African countries as investors and service providers" #OandoAtAOW2018 #AOW2018
1/ Mature (west) African hydrocarbon provinces like Nigeria will find themselves playing a larger role in the development of other industries in the area. #OandoAtAOW2018
2/ Over the years, we’ve seen independent companies start to claim frontier areas. Companies like Tullow and Cosmos who are exploration companies, have taken the initiative/additional risk to enter new frontiers and have made some interesting finds. #OandoAtAOW2018
3/ The IOCs are no longer alone in the exploration game, as the last 15 years have seen several smaller companies with large appetite for risk and exploration spring up. #OandoAtAOW2018
1/ There has been an increase in activities in the last 25 years particularly in Eastern parts of Africa, where there was barely any production - the likes of Mozambique, Kenya, Tanzania etc. are now major players. #OandoAtAOW2018
2/ Discoveries in the western parts of Africa, on the Atlantic margin in Senegal and Mauritania aren’t excluded from increased activities. #OandoAtAOW2018
3/ There have also been expansions in other geographical areas in terms of production in regions like São Tomé and Príncipe (opening up of new basins). #OandoAtAOW2018
1/ The past 25 years have seen a lot of African oil and gas start-ups become huge companies defining the continent’s energy space - Oando is one of them #OandoAtAOW2018 #AOW2018.
2/ 25 years ago, Nigeria was not in the LNG mix. Over 2 decades later, Nigeria’s LNG has become a huge player in the LNG market and is close to achieving ~10% of the world market share. #OandoAtAOW2018 #AOW2018
3/ Gas flaring in the E&P business has significantly reduced in the past 25 years; protecting the environment and turning it into an opportunity to monetise previously flared gas and increase the energy mix of the country. #OandoAtAOW2018 #AOW2018
The last 25 years have seen the role of indigenous companies evolve. The IOCs used to lead production on the African continent, but today indigenous companies are gradually evolving and making significant production contributions. #OandoAtAOW2018 /1
In terms of production and resources, there has been huge growth on the continent. While Nigeria remains the largest oil producing country in Africa, there have been discoveries across the continent which have created competition for investment capital. #OandoAtAOW2018 /2
There has however been a decline in the contribution of African countries to oil production worldwide. This is mostly a function of reserves and development capital. #OandoAtAOW2018 /3
At the end of 2017, Africa’s energy consumption stood at ~ 449.5 million mtoe, up from ~ 227.25 million mtoe 25 years ago. #AOW2018 #AfricaOilWeek #OandoAtAOW2018
According to PwC’s 2016 Africa oil and gas review, energy consumption in Africa is estimated to increase by 88% over the next 20 years, while global consumption is expected to only grow by 34%.
One of the main drivers of the surge in energy comsuption in Africa is its growing population. What other factors do you think are driving this increased energy consumption? #enerygy #OandoAtAOW2018 #AOW2018
