The DTI to support South African (SA) companies to showcase at Africa Oil Week
|LONDON, United Kingdom, May 23, 2019/ — The Department of Trade and Industry (the dti) will for the first time be showcasing 15-20 local companies in the South African National Pavillion at the prestigious Africa Oil Week event (www.Africa-OilWeek.com), which will take place in Cape Town, from 4-8 November 2019.
As the leading event for Africa’s upstream oil and gas sector, the dti will be using Africa Oil Week as a platform to outline the department’s commitments to the energy sector and re-emphasise the need for sustainable and equitable growth for local businesses.
The businesses will also be exposed to more than 1 500 senior executives from the oil and gas value chain across the globe, including 15 ministers of energy, key decision-makers from national and international oil companies, oilfield service providers, and the investment community.
The inclusion of the South African Pavilion is aligned with the country’s strategic goal of implementing an outward investment-led trade approach which aims to increase the country’s exporting capacity for diversified goods and services to international markets while promoting industrial development, job creation, foreign direct investment and economic growth to position South Africa as a globally competitive investment destination.
The Minister of Trade and Industry, Dr Rob Davies says the sub-Saharan Africa region is rapidly transforming into a natural gas jurisdiction given major recent natural gas discoveries in the region and the significant potential domestically in South Africa.
“Following the profound experience of reindustrialisation of the United States of America on the back of major gas finds, and the Qatari LNG development trajectory, the potential for the realisation of significant long-term onshore value in South Africa and the region is substantial. Whether or not South Africa discovers its own commercially viable natural gas resources, it will play a major role in driving onshore demand and the development of the regional resources,” says Davies.
He adds that in the light of the opportunities presented in the regional and domestic natural gas sector, the dti continues to refine its long-term natural gas industrialisation policy for SA, which would maximise the multiplier effects (both up and downstream) of the natural gas resources domestically and in the South East African region. Appropriate natural gas industrial policy will allow SA and the region to optimise the utilisation of natural gas, maximise its multiplier effect potential and drive regional integration.
According to Davies, the exhibition comes as part of a wider focus on South Africa this year, with a full day programme dedicated to it within in the National Showcase Theatre on Tuesday, 5 November 2019. The South Africa Showcase will feature panels with industry experts. Throughout the day, the showcase will feature strategic discussions around the future of the nation’s energy sector, exploring topics such as local content and procurement, fiscal policy and governance as well as highlighting new prospects and key projects currently taking place in South Africa.
The showcase will be an excellent opportunity for the SA companies which are looking to access Pan-African energy tenders or global debt and equity partners to expand their business.