Dr. Dapo Ayoola, Group Consultant at Zenith Professional Training and CEO of the Sub-Saharan Upstream Oil and Gas Summit and Exhibition, speaks to Tanzania Petroleum about the challenges investors face in Africa’s oil and gas sector, the role Zenith plays in developing human capital, and the potential of renewable energy.
1.How does Zenith Professional Training contribute to developing professional competence across Africa, and how can challenges in this area be addressed?
Exploration and production of crude and natural gas is no longer limited to the big four of Libya, Nigeria, Angola and Algeria. Across the continent and in particular in the Sub-Sahara African countries, new technologies have enabled more explorations, discoveries and production of oil and gas.
However, despite decades of exploration and production, Africa is yet to develop the manpower necessary to drive the industry on the continent.
At the Zenith Professional Training, we continually update our courses to ensure that we support that continent to develop skills across all sectors like business leadership, innovation management, new technologies as well as energy finance and investment management.
Our curriculums are aimed at supporting African energy specialists to lead innovation and sustainable business growth on the continent as global experts who understand how to turn local challenges to success factors.
2.What do you think are the biggest challenges Sub-Saharan African investors face in the upstream oil and gas sector?
The oil and gas landscape in Africa is changing rapidly, and this comes with challenges for investors. A potential investor will primarily be concerned about:
As I said above, the oil and gas landscape in Africa is changing so fast and this comes with associated challenges that investors may be worried about. A potential investor will primarily be concerned about:
1.National fiscal policy and the frequency of changes to industry extant laws. These will start from licensing processes to taxation and banking. In all where the nation stands on the continent rating of ease of doing business will be of interest to an investor who is focused on Africa.
2.The level and volume of discoveries in a Nation or region also affects investors decision making because discoveries and volume may impact of the level infrastructure that may be available or needed
3.Specialist human capital is also a factor that an investor should consider and make appropriate plans for.
3.How do you see the role and potential of renewable energy in shaping Africa’s energy landscape?
Notwithstanding continuing investment in oil and gas exploration and production, the role and importance of renewable energy in sub-Sahara is very exciting.
I am inclined to say that renewable energy is the future in a continent that can easily leverage on solar, wind and hydropower. Given the natural gifts of sun, waterways and wind, the continent should be intentional about research and development of technologies needed to be competitive in renewable energy production and distribution.
