The Kenya Business Guide has launched its second Sector Brief on Oil at the Kenya Extractives Policy Dialogue event which was hosted by the Strathmore University Extractives Industry Centre and Extractives Baraza in partnership with National Oil, Oxfam, DFID and ESAL.
The oil sector brief emphasizes the need for a structured dialogue on local content in Kenya has been incentivized by the discovery of oil and other commercially viable minerals, with the key focus being to promote in-country value addition through four main pillars: local employment opportunities, in-country spending and procurement of local goods and services, technology and skills transfer, and local participation through equity and management.
The event brought together key stakeholders around the oil & gas sector to discuss these pivotal issues as the country moves closer towards the point of oil exportation. Sahil Shah, Project Lead of the Kenya Business Guide, opened up the seminar with a presentation of the oil sector in Kenya drawing on the Sector Brief developed and published alongside the Strathmore University Extractives Industry Centre.
The brief provides an outline of the oil sector and an analysis of its significance to economic growth and development in Kenya, debunking some of the assumptions and misplaced expectations of what value the sector actually holds for the country.
OilNews Kenya was among the content providers for the brief.
The Sector Brief on Oil can be found here.