Global oil and gas conference to be held in Kenya
05 April 2013, 12:20
Energy sector leaders head to Kenya this month for a global oil and gas conference to explore how East Africa can capitalise on opportunities in the nascent industry.
Organisers say the April 29 conference will also seek to build local expertise, coming in the wake of the discovery of oil reserves in Kenya last year.
Since the oil and gas find in northern Kenya and along the coast, Kenya is now considered as an emerging producer, a situation that has energised the exploration for potential oil and natural reserves across the east African seaboard.
The event, which has attracted more than 1,000 delegates, including engineers, technocrats, environmentalist and entrepreneurs, will explore areas of growth in petroleum technology, exploration, drilling, production, refining, transportation, petro-chemicals, natural gas and environmental management.
An Expogroup statement, which is coordinating the event, said: "After a successful oil and gas exhibition last year, we are set for the second exhibition to be help from April 29 to May 1 in Nairobi, featuring major oil and gas companies from across the globe."
Kenya's Energy Permanent Secretary Patrick Nyoike said as an emerging market, Africa was getting attention from manufacturers and exporters in oil, gas and renewable energy.
He says as East Africa¹s economic hub, Kenya welcomes investments and reviews on its latest oil finds.
Kenya has four petroleum exploration basins‹Lamu, Anza, Mandera and tertiary Rift, with a combined surface area of 500,000 square kilometres.
"The Government is keen on speeding up the review of relevant petroleum statutes to make them conform to industry best practices," says Nyoike.
Energy Minister Kiraitu Murungi says even as investors turn their attention to the region, requisite laws would be tightened to keep cartels at bay as exploration continues in Kenya.
"We are not willing to allow firms which have no value on the oil blocks to make huge profits on them until we devise and agree with them on a formula for sharing the proceeds with the Government,² Kiraitu warns.
He says they would introduce the regulations under the reviewed Petroleum Exploration and Production Act this year to ensure exploration and prospecting is done competitively.
The Kenya National Chamber Of Commerce and Industry and the African Business Development Association will support the conference.
Expogroup, which began operations in 1996, has spread to more than 37 countries managing more than 20 trade fairs annually in various nations.
- CAJ News