Oil Industry Shifts Focus to Angola

If there were doubts about the shift in global oil industry focus on the new frontier for oil exploration and production on the African continent, the ongoing Offshore Technology Conference in Houston, Texas cleared the air when its opening session centred on Angola and not Nigeria fraught with oil shut-ins, kidnappings, arson and the activities of militant groups.

Perhaps the theme of this year’s conference: “Waves of Change” underscores the shift in global oil industry focus on the African continent.
Currently Nigeria’s oil output capacity estimated at 2.5 million barrels per day is down to about 1.8 million barrels per day, while Angola’s output stands at about 2 million barrels per day.

Coming at a time the Nigerian oil and gas industry is undergoing structural reforms, expectations are that a conscious effort would be made to showcase such efforts at this year’s OTC.

AllAfrica