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The talks seek to inform policy making and the creation of institutional structures needed for effective management of the emerging petroleum upstream sector/FILE

Kenya

Which way for Kenya’s oil sector?

The talks seek to inform policy making and the creation of institutional structures needed for effective management of the emerging petroleum upstream sector/FILE

The talks seek to inform policy making and the creation of institutional structures needed for effective management of the emerging petroleum upstream sector/FILE

NAIROBI, Kenya, May 21 – The National Oil Corporation of Kenya has kicked off a series of stakeholder talks on the future of oil and gas exploration and production in Kenya.

The talks seek to inform policy making and the creation of institutional structures needed for effective management of the emerging petroleum upstream sector.

National Oil has identified a number of topics in the areas of oil and gas exploration and production which include petroleum revenue management, development of institutional and governance structures for a robust national oil industry, value addition across the petroleum supply chain and local content development.

The meetings will be held every two months and each forum will focus on an important thematic area relevant to the identified audience with key note speakers during these meetings being the petroleum experts drawn from within Kenya, the region and the world.

The stakeholders are drawn from a cross-section of institutions covering mainstream government ministries and departments, state corporations, private sector players, academia and civil society participated.

They are given an overview of the oil and gas exploration and production in Kenya and the region covering East Africa and parts of Southern Africa including the discoveries of natural gas in Tanzania and Mozambique, and oil in Uganda.

The development of SME’s in oil and gas exploration and production will be particularly important to the Kenyan economy going forward considering that currently, SME’s contribute close to 80 percent of employment opportunities in the country and account for over 20 percent of GDP.

Through these stakeholder engagements, National Oil is looking at guiding national dialogue on the recent oil and gas discoveries in the country beyond the current discussions centred mostly around revenue sharing and prepare the country for success once commerciality of the deposits is confirmed.

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