This year, Animus Sustainability Portal (ASP) is organising the inaugural Africa Oil and Gas Sustainability Summit (AOGSS) on the backdrop of increased discoveries in Africa and demand to meet minimal environmental, social, and governance standards. It is understood according to US EIA, that Africa’s oil reserves have grown by nearly 120% in the past 30 years from 57 billion barrels in 1980 to 124 billion barrels in 2012.
In the past 30years the Oil and Gas sector in some of the countries is yet to benefit other sectors and the broader base economy. There are several challenges and in the same manner opportunities that have befallen and continue so for many of the oil and gas producing countries in Africa. To identify a few, the challenges faced by the oil and gas producing nations include but are not limited to limited to, the restricted broad-based employment opportunities that oil and gas production offer, the highly capital intensive nature of oil and gas developments, and the difficulties so often experienced in terms of ensuring that the focus is not so absolutely on the extraction and production activities but rather delivering benefits to related industries and the wider economy.