This week marks a new opportunity for South Africa and its oil and gas industry.
The City of Cape Town plays host to Africa Oil Week from October 9 to 13.
Deputy President Paul Mashatile was the keynote speaker at the week-long conference and gave some meaningful insight on the purpose for the event and what it means for Africa.
Mashatile noted that Africa has a responsibility to use the resources it has to champion growth.
He hopes that the financial impact of oil and gas exploration in Africa will address poverty, unemployment and specifically the energy crisis in SA.
Oil Week will create meaningful discussions around energy and oil development in Africa, according to Mashatile.
The aim of this global conference is to also facilitate inter-Africa relations on oil and gas exploration, and the SA government hopes to facilitate these discussions and partnerships.
The deputy president also acknowledged that while Africa is a juggernaut of natural resources, we have huge levels of unemployment and poverty.
He said discussions and agreements this week will hopefully address the joblessness in South Africa and Africa.
Moreover, Mashatile emphasised that African leaders need to have some symbiosis when it comes to leading the charge for oil and gas development.
“There needs to be synergy among leaders, as the development of the continent hinges on oil and gas exploration,” he said.