Replacing crude withinnovation

摘要

OIL AND GAS companies have had Little choice but to learn to live with the challenges of running businesses in Africa. The continent supplies some 11 per cent of the world's oil and has significant untapped reserves. It is expected that the region will soon pass North America to become the third largest producing area after the Middle East and Central and Eastern Europe. In order to access this potential, however, it seems companies are required to negotiate a range of challenges, most notably an uncertain regulatory framework. The inaugural PwC Africa Oil and Gas 2010 Survey found this to be the top constraint in developing oil and gas businesses in Africa.