The second edition of the Sub-Sahara Africa Upstream Oil and gas summit and exhibition in Ghana has thrown up issues relating industry challenges in Africa.
The 3-day event is on the theme “preparing for the challenges of changing times”. The summit’s main aim is to bring major stakeholders in the sector and academicians to discuss the pertinent issues affecting the industry due to changing times.
Three papers were presented on the second day of the event by academicians and astute oil and gas industry players.
The first paper titled “preparing for the challenges of the changing times” was presented by Mr. Hilary Akpan, general manager in charge of gas at the National Petroleum Investment Management services, NNPC, Nigeria.
He touched on challenges such as the problem of capital due to low oil pricing on the world market which is affecting investment in the oil and gas industry.
Mr. Adesola Adebawo of Chevron Nigeria limited also shared the experience of his company in oil and gas communities in his paper titled, “the stakeholder’s license to operate in Sub-Saharan Africa oil and gas communities, the CNL experience”.
He highlighted the importance of partnerships and transparency to promote community engagement in the oil and gas industry.
The final paper titled “mitigating risks associated with oil and gas Investments” was presented by Mr. Olusola Ladipo-Ajayi, managing director of LASACO Assurance Plc. Mr Ajayi advised delegates on the need to insure their company in this changing times fallen oil prices to reduce risk.