First east African oil drilling contractor established
East Africa's first land based locally-owned drilling contractor is just starting up, signalling the intention of local investors to get a share of the region's nascent hydrocarbon boom.
The company, Canyon Drilling East Africa Limited (CDEA), has been mostly funded with east African private equity sources and investors include Charles Mbire, chairman of MTN Uganda, a unit of South African mobile phone company MTN Group.
West Africa bets on Brazilian style oil jackpot
Investors are stepping up the hunt for hundreds of billions of dollars worth of oil beneath a deep submerged salt crust offshore West Africa, seeking to emulate Brazil's major discoveries across the Atlantic.
Geologists have long held that Africa's western seabed mirrors South America's. The continents were fused into a single plate nearly 200 million years ago.
Africa's Oil, Gas Have Economic Impact - DHL
DHL, the logistics industry leader, projected the recent oil and gas finds in Africa to continue having a positive impact on local economies, if local African suppliers, service providers and other businesses geared up to service this growth.
Africa's top oil producing nations comprise Nigeria, Angola, Libya, Equatorial Guinea, Ghana among others.
Africa Oil Upstream conference slated for Cape Town
Oil business interests around the world are attending the Africa Oil Upstream conference considered the largest gathering of oil and gas experts on the African continent, in the South African city of Cape Town.
The conference which officially opened Wednesday assembled about 1,500 delegates including government delegations and speakers from across the continent who would address various issues in the oil and gas industry.
