It might not surprise you to learn that East Africa is a magnet for the large oil and gas companies. To put it simply the region is home for big oil players.
That is a reason multinational oil companies such as Shell, Exxon Mobil, and TOTAL are busy in the region like bees to honey.
The beauty of East Africa is that it has massive oil and natural gas resources, most of them untapped, underdeveloped and crying out for exploration and development investment.
A good example of this is Tanzania. As the time of this writing( 1, January 2019) the country has 57.25 trillion cubic feet. And according to the US Geological Survey, the country still has potential natural gas reserves up to 441 trillion cubic feet solely in the coastal region, so more gas discovery might be forthcoming
Today we cover what do major oil players have in common and why you should care?
1.They engage all segments of the industry.
As you know, the oil and gas industry consists of three segments:
The first section is called Upstream: This involves finding oil and gas resources, and extracting (bring them out of the ground) so that they can be moved and placed where they can be refined and processed into useful products.
The second portion is midstream. The segment involves transportation and storage of crude oil and natural gas from where they found them to where they will be refined and processed into products that can be sold. So the mode of transportation may be pipeline, tankers or trucks
And the last area of the industry is downstream. It involved in the refining of crude oil, processing and purification of natural gas, and also marketing and distribution of the products that are delivered from crude oil and natural gas such as lubricants, diesel, kerosene, cooking gas,
Small independent oil companies engage in the upstream sector only. That means they discover, develop and produce oil and gas resources.
On the other hands, those big boys dabble into everything: from discovering, developing, extracting, refining, transporting to marketing oil and gas related products.
2. They both merged.
Exxon Mobil was known as Mobil when it first founded in 1911. The company merges with Exxon in 1999 to be Exxon Mobil. This Us based firm grew quickly and become one of the major oil and gas companies in the world.
The same goes to Royal Dutch Shell or Shell as many people call it. The company established in 1907 when
Holland’s Royal Dutch Petroleum Company and Britain’s Shell Company merged.
What Does This Mean To You?
From a career perspective, working with these major oil companies offers better opportunities.
That means lots of travel from work site to work site and job. Both Shell and Exxon Mobil engage in downstream business.Working at these companies meaning that you have a secure job especially in periods when oil sells for a lower price in the global market.