Mashatile advocates for collaboration in oil, gas exploration

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Deputy President Paul Mashatile emphasised the crucial role of partnerships between governments and the private sector in Africa’s exploration of oil and gas resources.

His remarks came during the opening of the 2023 Africa Oil Week in Cape Town, a platform aimed at fostering deals within the oil and gas sector to promote the continent’s development.

Under the theme: “Maximizing Africa’s Natural Resources in the Global Energy Transition,” this year’s conference aims to encourage cooperation and collaboration in the oil and gas industry.

Mashatile stressed that unless African countries forge strategic partnerships to leverage their natural resources, they will continue to rely on external entities for their sustainability.

He cited the African Development Bank’s Africa Investment Forum as a game-changing initiative that provides a platform for African nations and investors to bridge gaps and work together to achieve their developmental objectives. He further highlighted the importance of supporting this initiative to ensure its success.

The Deputy President noted, “There is no doubt that oil and gas play an integral role in shaping the goals and development of our continent. This platform offers an opportunity to enhance collaboration and intra-trade, further stimulating economic growth across our economies.”

Mashatile’s remarks underscore the significance of collaboration, innovation, and strategic partnerships in the oil and gas sector as Africa seeks to maximize its abundant natural resources for sustainable development and growth. The 2023 Africa Oil Week conference serves as a vital platform for fostering these partnerships and advancing the continent’s energy ambitions in the global context.