West Africa: The Corporate Council on Africa to Host Major African Oil and Gas Forum in Texas

15 November 2002
Corporate Council on Africa (Washington, DC)
press release

Washington, DC — The Corporate Council on Africa (CCA) will host the West Africa Oil and Gas Forum in Houston, Texas from November 19-20 at the Westin Oaks Hotel. The Forum will focus on oil and gas production and opportunities for the U.S. petroleum industry in West Africa.

Assistant Secretary of State for Africa, Walter Kansteiner, will open the conference. Confirmed African dignitaries include H.E. Desiderio Costa, Vice Minister of Petroleum of Angola; H.E. Joseph Aoudou, Minister of Mines, Water Resources and Energy of Cameroon; H.E. Ousmane Mahamat Nour Elimi, Minister of Petroleum of Chad; The Honorable Mr. Cristobal Manana Ela, Minister of Mines and Energy or Equatorial Guinea; H.E. Teodoro Biyogo Nsue, Equatorial Guinea Ambassador to the U.S.; H.E. Jules Ogoue Mbadja, Gabonese Ambassador to the U.S.; and H.E. Zeidane Ould Heida, Minister of Mines and Industry of Mauritania.

The audience will include government and national petroleum company representatives from Angola, Cameroon, Chad, the Republic of Congo, Equatorial Guinea, Gabon, Ghana, Mauritania, Nigeria and Sao Tome and Principe, as well as U.S. oil and gas executives from throughout the nation.

Interest in West African oil and gas as a major source of energy for the United States continues to grow as national planners look to decrease dependence on Middle Eastern supplies. The region is vital to businesses in the U.S. petroleum industry as production, new discoveries, and exploration develop at a fast pace. The following numbers attest to the importance of oil and gas in this region:

There are 90 billion proven oil reserves in Africa, making up 9.1% of the world's total.

Over 11% of the world's oil production takes place on the African continent, with a 57% growth expected in the next 5 years

African Oil and gas net exports are forecasted to double over the next 15 years.

The discovery rate in Africa has surpassed all other regions of the world over the past five years.

The United States is expected to invest $35 billion in West Africa Oil and Gas upstream in the next 5 years.

Africa holds 8% of the world's proven gas reserves (11.5 trillion cubic meters).

Press interested in covering the event can register onsite at the Westin Oaks Hotel in Houston, Texas.

The Corporate Council on Africa, established in 1992, is a nonpartisan 501(c)(3) organization of nearly 160 American companies dedicated to strengthening trade and investment ties between the United States and Africa. CCA members represent nearly 85 percent of total U.S. private sector investments in Africa.

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