East cost attracts big investments

Continued investment in the oil and gas sector – not only on the African west coast, but now also along the east coast – will create major opportunities, says Hendriette Theron, global business development officer for BBC Chartering & Logistic. “This is an interesting market for us. The west coast of Africa is the western corner of the ‘golden triangle’ which is formed together with offshore Brazil and the Gulf of Mexico. Nigeria and Angola in particular have built up a good reputation as oil and gas exploration hubs in the past. Ongoing developments require suitable logistic solutions and BBC Chartering has been very involved here and continues to be,” she said. “The east coast seems to have become an attractive region, with huge investments in large-scale LNG developments. Some experts claim the region may even rival Western Australia’s LNG reserves. Mozambique and Tanzania may see some interesting developments through that in the future,” she predicts. But the sector does not come without its challenges. “It is a general challenge to manage just the risks in the industry,” says Theron. “Depending on the way some projects are set up, the EPC contractors often try to mitigate as much risk as possible by shifting it onto the shoulders of their contracting parties. This may often take on obscure dimensions for example where the contracted scope for a supplier bears no relation to the associated risk.” Theron believes being able to manage the ‘golden triangle’ is where success lies. This requires proper planning, safe execution and flexibility on one hand, but also exceptional working relationships with the client on the other. “If the basis is trust and understanding along with a solution-oriented attitude, most issues can be resolved.” CAPTION 1 The umbilical is spooled off a BBC Chartering vessel directly onto an offshore installation vessel. CAPTION 2 Hendriette Theron … managing risk a major challenge.