The Russians are coming!

7 March 2012

Recent new oil and gas discoveries all over Africa are attracting investors and developers from around the world. Russia is the latest country to show an active interest in the continent’s oil and gas industry.

The country will be sending a trade delegation to attend Oil & Gas Africa 2012, which takes place from 13 to 15 March at the Cape Town International Convention Centre. This is the first time these companies and organisations will attend the show.

Oil & Gas Africa 2012 is an industrial exhibition for suppliers and service providers to the upstream oil and gas industry. It is organised in association with the South African Oil and Gas Alliance and the South Africa Agency for the Promotion of Petroleum Exploration and Exploitation.

The high-level Russian group will consist of chief executive officers, chief technology officers and policymakers who intend exploring opportunities on the subcontinent.

The Russian delegation represents a wide range of industries related to the oil and gas sector including petro-physical research and engineering, industrial design, construction, security, underwater engineering and construction, event management and diplomacy.

Representatives from the Russian Trade Council, Embassy and Ministry of Economic Development, will be part of the delegation.

“We are hoping to increase international collaboration, expand investment and explore the potential for technology sharing and technology exchange, particularly in Southern Africa,” says Daniel Katzenellenbogen, Managing Partner of Avanture, a venture management consultancy based in Stockholm.

“With its excellent infrastructure and existing industry readiness, the region offers new potential investment channels, growth opportunities and a platform for demonstrating new technology,” says Katzenellenbogen.

“We will also be participating in a forum to discuss potential opportunities for Russian companies in Southern Africa.”

The forum also aims to expand collaboration and investment in both directions and promote technology sharing and exchange between the two countries.

It will initiate new business relationships between Russian and South African participants, and illustrate the region’s business climate and the opportunities it presents, such as collaborative research, new technologies and new investment channels, particularly in clean energy and gas to liquids.

“We plan to make this an annual event and bring an even larger Russian delegation next year,” concludes Katzenellenbogen.

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