With Brent crude prices averaging $43/barrel in 2016, many exploration projects have been shelved. The desire to de-risk has led many to farm-in/farmout activity. Despite price volatility, Africa still attracts plenty of interest, with bidding rounds this year in four countries. Exploration frontiers continue to host noteworthy discoveries. How have explorers adapted to the lower-for-longer landscape? Our panel tackled these questions and more at Africa Oil & Power 2017.
Panelists included Simon Tamfu, Chief Executive Officer of ST E&P Advising; Tracey K. Henderson, Vice President of Exploration, Business Execution and Geophysics for Kosmos Energy; Frank Ene, President and COO of RoyalGate Energy; Jerreh Barrow, Commissioner for Petroleum of The Gambia; Robin Sutherland, GM New Ventures Africa for Tullow Oil; Andrew Woodrow, Business Development Manager for Africa of Maersk Drilling; as well as moderator Adaku Ufere, Energy Practice Leader for Centurion Law Group.
The agreement will see Ethiopia exporting 100 MW of electricity to South Sudan over the next three years with plans to increase capacity to 400 MW.