Oil and Gas businesses in Africa need to intensify exploration efforts to guarantee reserve replacement and enhanced capacity to meet growing demand and global competition, the Managing Director, Asharami Energy (A Sahara Group Upstream Company), Olajumoke Ajayi, told participants at the Oil and Gas Council’s Africa Assembly in Paris.
According to a statement, Ajayi noted that Africa’s large volumes of undiscovered oil and gas make the continent a veritable frontier for investment, adding that operators need to adopt new technology, explore alternative cost saving measures, ensure sustainable community relations, and build diverse multidisciplinary teams to ensure successful exploration projects.
In her presentation, “Renewing Players Commitment to Exploration and the Importance of Community Engagement in Capital Intensive Projects”, she cited the downturn in global oil prices and the corresponding negative effect on investor funds and returns…
