After several tough years, the oil and gas industry in Africa is finally paving a way back to worthier days. The oil and gas sector holds a valuable role in the African economy as it offers multiple career openings and business opportunities to locals as well as expatriates. However, due to multiple setbacks, the industry has faced several declines in the productivity as well as in a drop-in-prices on international level. The consequent challenge remain the uncertainty in regulatory groundwork, corruption, poor infrastructures and the lack of skill resources. What now for the energy sector?
Top prospects and developments
West Africa has driven advances in offshore technology, leading to growth in demands and market shares. Huge export countries such as Angola or Nigeria are expected to launch new oil and gas projects to boost the industry by 2018.
Considered as a clean source of energy, generating power with the use of renewable energy is constantly growing in the continent. Africa is one of the only continent offering this abundance in natural resources and this is why seizing the opportunity to boost and energy productions remains the first step towards success. With the conventional sources of energy slowly evolving, it now offers competitive growth rates while teasing the best of local and international investors.
In the core of a deep change, the internet speed is still being critical, many African countries have set arduous objectives to increase internet access to improve frameworks in the renewable power generation capacity. Technology offers the opportunity to adopt a more distributed energy resources at a faster pace. Technology has become an important instrument for inter connectivity and proximity of energy systems. However, it may cause threats as well which may be cyber attacks, leading to vulnerability in the cyber-security.
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