Energy players meet ‘to avert oil curse’

May 15, 2013
Shares

,

The two-day meeting to be held on June 6 and 7 will be attended by government ministers from EA countries, legal and financial advisers, senior executives and managers in the oil, gas and energy sectors in the region/FILE
The two-day meeting to be held on June 6 and 7 will be attended by government ministers from EA countries, legal and financial advisers, senior executives and managers in the oil, gas and energy sectors in the region/FILE
NAIROBI, Kenya, May 15 – Players in the petroleum and energy sector in the East African region are set to meet in Nairobi to discuss ways of enhancing business relations.

The conference themed ‘Negotiating, Financing and Dispute Resolution in Oil and Gas Transactions’ is aimed at equipping oil and gas professionals in bargaining contracts besides educating them on financing options.

The two-day meeting to be held on June 6 and 7 will be attended by government ministers from EA countries, legal and financial advisers, senior executives and managers in the oil, gas and energy sectors in the region.

Speaking ahead of the conference, NCMG International Regional Director Geoffrey Njenga – the meet’s organiser – said during the two-day symposium, delegates will be exposed to how oil and gas agreements are reviewed and negotiated and learn the approaches and techniques deployed towards securing capital for projects in the oil and gas industry.

“This conference will play an important role in preparing delegates to achieve their commercial objectives, learn about various negotiation techniques, financing options, and explore routes for dispute resolution as well as have opportunities to practice these essential skills,” he said.

The NFD 2013 conference, which is expected to attract over 500 delegates, will be held against the backdrop of a most exciting time for East African countries as oil prospection activities are rapidly gathering pace.

Kenya and Uganda discovered commercially viable deposits of oil and are expected to be among major oil producers once drillings begins. However, concerns over the need for equity in the sharing of revenues arising from oil production have been mounting.

During the inauguration of President Uhuru Kenyatta on April 9, Uganda’s Yoweri Museveni called for fairness in the design of oil production contracts, saying his country was forced to abandon its plan to commence production of petroleum owing to concerns over equity in the sharing of oil revenues with foreign oil companies.

NCMG International and the International Centre for Energy are the main organisers of the conference in collaboration with Kenya’s Ministry of Energy and Petroleum.

Among those expected to attend the conference include Justice James Ogolla from Uganda, Justice George Kimondo from Kenya, Jean-Louis Ekra, President of Afreximbank; Habil Olaka, Chief Executive Officer of the Kenya Bankers Association; Sadiq Adamu, Assistant General Counsel, Exxon Mobil; Solomon Wifa, O’Melveney & Meyers LLP, UK; and executive representatives from the Africa Finance Corporation and Sahara Group, Nigeria.

Shares

Latest Articles

Stock Market

Most Viewed