Oando seeks stronger partnerships for Africa’s upstream growth

Oando Energy Resources, a subsidiary of Oando PLC, has called for enhanced collaboration among governments, regulators, energy companies and host communities to spur investment and sustainable growth in Africa's upstream oil and gas sector. This call came during a panel discussion at AOW: Energy in Accra, Ghana. The panel, titled "Building Dialogue, Leadership: Exploring the Challenges of Both Government and Private Sector Frameworks for Upstream Development," aimed to explore the challenges faced by both public and private sector stakeholders in upstream development.

In his remarks, Kofo Olagunju, General Manager of Security, Government & External Relations at Oando Energy Resources, highlighted the need for greater alignment between public and private sector stakeholders. He emphasized that a shared objective between regulators and operators is crucial for progress, stating that a genuine partnership must exist, where each party understands the operational realities and challenges faced by the other.

On the regulatory side, Cany Jobe, Director General of the Petroleum Commission in The Gambia, underscored the importance of a robust regulatory framework that balances the interests of national stakeholders with the commercial viability required for successful operations. Joe Kofi Mensah, Senior Vice President and Head of the Ghana Business Unit at Kosmos Energy, and Liz Ross, General Manager of New Ventures Exploration & M&A at CNOOC International, also participated in the discussion.

Mensah pointed out that investors are drawn to environments that offer regulatory stability, speed, ease of doing business, and competitive fiscal terms. He noted that these factors must work together to provide investors with the certainty needed to commit long-term capital. Jobe argued that the pursuit of national interests and investment attraction should not be seen as conflicting goals.

He stressed that a strong regulatory framework must create value for resource owners while offering investors the clarity, predictability, and commercial viability they need to operate successfully. Olagunju further emphasized the evolving role of host communities in ensuring the sustainability of upstream operations. He noted that communities have moved from being passive neighbors to active stakeholders and participants in the success of oil and gas projects.