{"id":11801,"date":"2022-02-09T10:17:06","date_gmt":"2022-02-09T10:17:06","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=11801"},"modified":"2022-02-09T10:17:06","modified_gmt":"2022-02-09T10:17:06","slug":"ensuring-future-generations-benefit-from-africas-oil-and-gas-resources","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/ensuring-future-generations-benefit-from-africas-oil-and-gas-resources\/","title":{"rendered":"Ensuring Future Generations Benefit from Africa\u2019s Oil and Gas Resources"},"content":{"rendered":"

John Hamilton, CEO of Panoro Energy, provides insight into how the continent can spur exploration and production in 2022 and beyond.<\/em><\/p>\n

While Africa looks to accelerate the development of its significant oil and gas resources \u2013 particularly as the continent struggles with the impacts of the COVID-19 pandemic and energy poverty crisis \u2013 significant investment is needed in the upstream and midstream sectors. Rather than abandon fossil fuels in the name of the energy transition, Africa needs to ramp up exploration in order to revitalize production and ensure energy security.<\/p>\n

The African Energy Chamber spoke to John Hamilton, CEO Panoro Energy, about the reasons Africa\u2019s production is declining, what can be done to turn this around, and the role gas monetization and development will play in the continent\u2019s energy future.<\/p>\n

What will this production underperformance in Nigeria, Libya, Angola, Congo, Equatorial Guinea and African countries mean for the continent as a whole?<\/strong><\/p>\n

Production underperformance is not necessarily a term I would use. Generally, reservoir performance and well productivity has met or frequently exceeded expectations which is a reflection of the high-quality petroleum geology much of the continent is blessed with. The underlying issue is more about investment and development activity not offsetting a natural depletion curve and the risk of substantial oil volumes being left stranded in the ground as the global energy transition plays out, potentially depriving future generations of the benefit these resources can deliver.<\/p>\n

What it means for the continent, and more specifically the producing countries really starts with how it emphasizes a present lack of economic diversification and high dependency of governments on oil production for revenues and more specifically foreign currency.\u00a0 Economic diversification is going to be key for the oil-dependent economies in Africa. Accelerating the safe and responsible development of current production together with the considerable discovered but undeveloped oil resources and future discoveries from exploration efforts will help provide the means for these economies to grow and diversify for long-term prosperity and better balance.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

John Hamilton, CEO of Panoro Energy, provides insight into how the continent can spur exploration and production in 2022 and beyond. While Africa looks to accelerate the development of its … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":11802,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,11],"tags":[63,6986,160,504,789,837,1406,1428,10153,1749,8316,2082],"class_list":["post-11801","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-top-news","tag-africa","tag-african-energy-chamber","tag-angola","tag-congo","tag-equatorial-guinea","tag-exploration","tag-libya","tag-lng","tag-model-gas","tag-nigeria","tag-panoro-energy","tag-production","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/02\/Panoro-Energy-CEO.jpg?fit=1024%2C535&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-34l","jetpack-related-posts":[{"id":11731,"url":"https:\/\/www.oilnewskenya.com\/index.php\/exploration-production-and-africas-frontier-markets\/","url_meta":{"origin":11801,"position":0},"title":"Exploration, Production and Africa\u2019s Frontier Markets","author":"","date":"February 1, 2022","format":false,"excerpt":"The African Energy Chamber spoke with Tim O\u2019Hanlon, Senior Advisor for the Oslo-listed energy and power company, Panoro Energy, about the continent\u2019s production challenges, the role exploration will play, and Africa\u2019s significance as a frontier gas market. \u00a0 With production declines presenting newfound challenges for Africa, stakeholders are pushing for\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/01\/Kenya-Oil-Exploration.jpg?fit=800%2C450&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/01\/Kenya-Oil-Exploration.jpg?fit=800%2C450&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/01\/Kenya-Oil-Exploration.jpg?fit=800%2C450&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/01\/Kenya-Oil-Exploration.jpg?fit=800%2C450&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":10241,"url":"https:\/\/www.oilnewskenya.com\/index.php\/south-africa-panoro-completes-farm-in-to-offshore-block-2b\/","url_meta":{"origin":11801,"position":1},"title":"SOUTH AFRICA: Panoro Completes Farm-in- to Offshore Block 2B","author":"","date":"April 20, 2021","format":false,"excerpt":"Panoro Energy has announced that it has received governmental approval and closed the previously announced farmout agreement on Block 2B offshore South Africa. John Hamilton, CEO Panoro, said:\u00a0\u201cFollowing our recently announced successful entry into Equatorial Guinea, we are pleased to now be adding a further country into our growing portfolio\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/11\/Africa-Oil-S.A-Portfolio.jpg?fit=400%2C275&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":14587,"url":"https:\/\/www.oilnewskenya.com\/index.php\/equatorial-guinea-panoro-energy-signs-psc-for-block-eg-23\/","url_meta":{"origin":11801,"position":2},"title":"EQUATORIAL GUINEA: Panoro Energy Signs PSC for Block EG-23","author":"","date":"November 14, 2024","format":false,"excerpt":"Panoro Energy announces that it has finalised terms and signed a Production Sharing Contract (PSC) with the Government of Equatorial Guinea for offshore Block EG-23. Panoro now holds an 80 per cent participating interest and operatorship of Block EG-23. It is partnered by GEPetrol, which holds a 20 per cent\u2026","rel":"","context":"In "Central Africa"","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/11\/Equatorial-Guinea-EG-23.png?fit=800%2C500&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/11\/Equatorial-Guinea-EG-23.png?fit=800%2C500&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/11\/Equatorial-Guinea-EG-23.png?fit=800%2C500&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/11\/Equatorial-Guinea-EG-23.png?fit=800%2C500&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":13304,"url":"https:\/\/www.oilnewskenya.com\/index.php\/equatorial-guinea-africa-oil-panoro-energy-awarded-offshore-blocks\/","url_meta":{"origin":11801,"position":3},"title":"EQUATORIAL GUINEA: Africa Oil, Panoro Energy Awarded Offshore Blocks","author":"","date":"February 20, 2023","format":false,"excerpt":"Africa Oil has announced that it has signed two production sharing contracts (PSCs) with the Republic of\u00a0Equatorial Guinea\u00a0for offshore Blocks EG-18 and EG-31. These PSCs are subject to ratification by the country's government. Africa Oil will hold eighty per cent (80%) operated interests in each block with the balance to\u2026","rel":"","context":"In "Central Africa"","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/02\/Equatorial-Guinea-offshore-EG-01-1.jpg?fit=700%2C427&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/02\/Equatorial-Guinea-offshore-EG-01-1.jpg?fit=700%2C427&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/02\/Equatorial-Guinea-offshore-EG-01-1.jpg?fit=700%2C427&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/02\/Equatorial-Guinea-offshore-EG-01-1.jpg?fit=700%2C427&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":11718,"url":"https:\/\/www.oilnewskenya.com\/index.php\/nigeria-panoro-energy-receives-government-approvals-of-the-sale-of-all-its-interest-in-oml-113\/","url_meta":{"origin":11801,"position":4},"title":"NIGERIA: Panoro Energy Receives Government Approvals of the Sale of all its Interest in OML 113","author":"","date":"January 31, 2022","format":false,"excerpt":"Panoro Energy has announced that all government approvals have now been received for the sale of the shares of its fully-owned subsidiaries that hold 100% of the shares in Pan Petroleum Aje Limited to PetroNor E&P Limited.\u00a0 Pan Aje participates in the exploration for and production of hydrocarbons in Nigeria\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Nigeria-Aje-field.jpg?fit=807%2C807&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Nigeria-Aje-field.jpg?fit=807%2C807&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Nigeria-Aje-field.jpg?fit=807%2C807&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/11\/Nigeria-Aje-field.jpg?fit=807%2C807&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":12082,"url":"https:\/\/www.oilnewskenya.com\/index.php\/panoro-energy-appoints-2-additional-country-managers-in-africa\/","url_meta":{"origin":11801,"position":5},"title":"Panoro Energy Appoints 2 Additional Country Managers in Africa","author":"","date":"March 23, 2022","format":false,"excerpt":"Panoro Energy has appointment of Country Managers. In addition to Sofiane Gaied, who joined Panoro as Country Manager Tunisia in 2018, Ghislain Boukoubi has been appointed as Country Manager Gabon, and Antonino Edjang Ondo has been appointed as Country Manager Equatorial Guinea. Panoro\u2019s Country Managers are nationals and permanent residents\u2026","rel":"","context":"In "Central Africa"","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/Panoro-Energy-operations.jpg?fit=388%2C470&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/11801","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=11801"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/11801\/revisions"}],"predecessor-version":[{"id":11803,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/11801\/revisions\/11803"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/11802"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=11801"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=11801"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=11801"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}