The global oversupply of crude oil led to a sharp decline in the oil prices leading to slowed activity in the industry globally. The optimism that prices will recover and oil related activities will increase is the main factor that has kept the doors of many industry dependent businesses open.
Oil and Energy Services is not exempt from this harsh reality and have kept vigil for the dawning of a new day with the promise of a return to 2013 crude prices. In an environment where conferences were being cancelled or postponed it, was encouraging to see the 23rd Africa Oil Week continue to be held in Cape Town from 1st November. Held Annually, the conference brings together global oil and gas heavy weights in a forum to discuss opportunities across the African Continent.
The climax of the conference is an annual awards ceremony which celebrates key achievers in the Africa Oil & Gas landscape. Oil and Energy Services celebrates to have snatched up one of the most highly contested and coveted of the Big 5 awards. The company was awarded African service/supply company of the year, symbolised by the African Buffalo. According to Duncan Clarke the founder of the Conference, the African Buffalo symbolises resilience and adaptability to survive and thrive in the harsh conditions of the African Wetlands and Savannah.
Albeit a relatively young organization the judges saw this to be characteristic of Oil and Energy Services due to its resilience, adaptability and expansion in its operations from a advisory, research and training to a leader in local industry development offering major events and industry executive briefings. The company has also created new products such as event management systems and technical professionals’ database while also venturing into the broader sphere of the extractives industry.
Mwendia Nyaga, Chief Executive of Oil and Energy Services, was also awarded the Lifetime Achievement Award for more than one and a half decades in the development of Kenya’s Oil and Gas sector at both the public and private level.
These awards were particularly monumental as they highlighted the recognition that Kenya’s industry players are receiving beyond its borders.
Oil and Energy Services Limited is a boutique consulting firm founded in 2011 and has since been working in the Eastern Africa region on projects that would enhance the development of upstream Oil and Gas within the region. The Company has since been offering services in Advisory, Research, Training, and Specialized Services. The general thematic areas covered by the Company include upstream oil and gas, as well as geothermal energy.