Africa Oil Week 2021 “Take Outs”.. by Zola Sampson, Seatrain/SAMTRA Bursary Student

Seatrain CEO, Pieter Coetzer, accompanied our Grade 11 maritime bursary student, Zola Sampson, to Dubai for Africa Oil Week 2021, held at the beginning of November.

As Africa Oil Week’s 2021 Student Ambassador, Zola was asked to share his is top 5 ‘take-outs’ from the AOW event each day ..

Here they are…

Day 1. Monday 8 November – Opening session with Simon Flowers &  Nicolas Terraz

  1. It was great to learn that Oil & Gas Producers have a conscience and care about our future. 2050 is is an important date with regards to ‘Zero Emissions’. Most companies have strategies in place to reduce  emissions. Improve output and  productivity but not increase emissions.
  2. Gas production to increase 6% per annum for now.
  3. Focus is on low cost and low carbon emitting fuels. Oil production remains part of our immediate future.
  4. Downstream activity is an  important operation to take energy to the people.
  5. Digital solutions will play a big role in the future, to better use “big data” volumes in the exploration and production processes and improve energy efficiency.

Day 2  Tuesday 

  1. Referring to take out 1 from yesterday – I learned today that many IOC’s have green ambitions but some NOC’s could be more proactive towards investing in the energy transition mission.
  2. Master Class with Mr Simone Santi – thank you sir for spending time with me to mentor me and crack a few jokes about your surfing ambitions!
  3. Regional energy cooperation is key to putting African oil and gas resources to their best use. Eg. South Africa and Mozambique regional gas master plan.
  4. The African Continental Free Trade Agreement is a good thing for Africa, which will enable better trade conditions, stimulate investment and create employment.
  5. Even though only 5% of future global upstream spend is earmarked for Africa, it seems like there are still many opportunities on the African continent.

Day 3 / Wednesday 

  1. FID stands for “Final Investment Decision”. It can take years to reach (in Africa) and depends on the size of the investment,  project scale and complexity, geographic location, availability of skills and infrastructure, political stability, tax and legal frameworks etc.  Tks Mr Henry Menkiti for the short lesson.
  2. Diversity Breakfast – Women’s ideas will play an important role in the transition and its important that everyone is involved in making their voices heard. Feminine leadership is an effective way to deal with conflict ,which uses empathy and kindness to find solutions.
  3. Robotics, data sciences, remote operation and mobility are part of the offshore future.
  4. I learned how a FPSO works,  from the seabed / ‘Christmas Tree’, risers and onboard plant.
  5. If you are looking for a job, be VISIBLE. Get a LinkedIn account and stay connected to the labour grid!

Day 4/Thursday

1. ” Flare Off” is the controlled disposal of unused production bi-products/gas and causes huge energy wastage, estimated at up to 10% in losses globally.

2. The new Brulpadda gas condensate discovery off South Africa (6 tcf) has huge potential to add to the local energy mix, expected to start delivering in 2025.

3. Advantage Barrels are high profit low input cost barrels  eg. Where a new well simply taps into existing infrastructure.

4. Governments and oil producers have many different methodologies for production sharing (cost oil and profit oil), and it typically includes royalties (10%), corporate Tax (25%), levies and rentals etc.

5. The Oil Price is forecasted to rise, expected to be USD 100+  per barrel in 2022.

Thanks for all your time AOW delegates!