Monday, June 11, 2018

Nigerian Minister to Attend Africa Oil Week
Thursday, 07 June 2018 10:32
Oil Review Africa

Nigeria's Minister of State for Petroleum Resources will attend Africa Oil Week 2018 and join eight other African ministers.

The event will be held in Cape Town, South Africa between 5-9 November.

Nigeria, an OPEC member, is the largest oil producer in Africa. The country has seen the development of its oil industry stall due to years of mismanagement.

Earlier this year, the lower house of Nigeria's parliament passed a version of an oil industry bill, which has been delayed for over a decade.

The Petroleum Industry Governance Bill (PIGB) is the first part of the larger Petroleum Industry Bill, broken up into four parts to ensure it passes through parliament.

With the recent rise in oil prices, African countries hope to attract investment in the energy sector to grow their economy and create jobs.

“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.

“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 talk shops, 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.” Sinclair, added.

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