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Patrick Gougeon presents to the Industry and Parliament Trust (IPT) Energy Commission
Last week Prof. Patrick Gougeon gave a presentation at the Industry and Parliament Trust Energy Commission.
We are delighted to share Patrick's presentation and introduction here.
For more information on the Energy Commission's work, please visit http://www.ipt.org.uk/PolicyEvents/Energy.aspx
Over the past few years, a number of countries across Africa have made significant discoveries of oil and gas reserves. Ghana, for instance, discovered about 3 billion barrels of oil equivalent and its Jubilee field is now producing 105,000 barrels per day. Along the east coast of Africa, Mozambique, Tanzania and Kenya are also making significant discoveries. Gas discoveries in Mozambique and Tanzania have reached over 100 trillion cubic feet, comparable to any of the biggest global gas discoveries.
What does this mean for the governments and people of these countries? As one would expect, some key areas to be addressed are investment in health, education, infrastructure, and power supply. But also in tandem, they must invest in other non-petroleum related industries in order to avoid the pitfalls of 'Dutch Disease' and ensure the sustainable long-term development of their economies. This is an objective that has eluded a vast number of petro-states, both old and new. An example of a country that has successfully achieved this is Norway but clearly Ghana, Mozambique, Tanzania and other African countries are very different from Norway. So what should they do?
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