The Energy and Petroleum Regulatory Authority (EPRA) of Kenya is advocating for African countries to embrace technology-driven operations in the upstream petroleum sector to enhance competitiveness globally. This call was made by EPRA’s Director General, Daniel Kiptoo Bargoria, during a panel discussion at the Africa Oil Week conference in Accra, Ghana. Kiptoo emphasized the pivotal role of technology and data in transforming how Africa manages its petroleum resources. He highlighted that leveraging technology and innovation is essential not only for improving operations but also for expanding energy access and driving sustainable demand for oil and gas across the continent.
In a bid to create a stable and predictable regulatory environment, Eng. Edward Kinyua, EPRA’s Director of Petroleum and Gas, announced Kenya’s efforts to establish seven draft upstream and midstream petroleum regulations. These regulations, once finalized, aim to ensure transparency, predictability, environmental responsibility, and boost investor confidence in the sector. Additionally, Gulf Energy is set to submit a Field Development Plan for the South Lokichar Basin for regulatory review, marking a significant advancement in Kenya’s upstream operations. EPRA is also working on setting up a petroleum data center to enhance information accessibility for both investors and policymakers.
EPRA has taken significant steps to govern Kenya’s petroleum sector effectively, unveiling seven new regulations to streamline operations. The regulatory body made minor adjustments to fuel prices, reducing petrol and kerosene prices marginally by Ksh. 1 while maintaining diesel prices unchanged. However, fuel prices experienced a notable increase in the latest review. In recognition of EPRA’s leadership in the energy sector, DG Daniel Kiptoo was appointed as the Vice Chair of the global energy regulatory body, ICER. EPRA continues to emphasize the importance of investing in research to shape Kenya’s energy future positively.
The push for technological advancements in the upstream petroleum sector aligns with EPRA’s commitment to driving innovation and efficiency in managing Africa’s petroleum resources. By leveraging technology and data, countries can enhance operational efficiency, promote sustainable energy access, and attract investments to the sector. The emphasis on creating a transparent and predictable regulatory environment is crucial for fostering investor confidence and ensuring responsible resource management in the petroleum industry.
As EPRA spearheads initiatives to enhance the regulatory framework and promote technological innovation in the upstream petroleum sector, African countries have the opportunity to position themselves competitively on the global stage. Embracing advancements in technology will not only drive operational efficiencies but also pave the way for sustainable energy development and economic growth across the continent. By leveraging data-driven solutions and fostering collaboration between industry stakeholders, Africa can harness its petroleum resources effectively to meet the evolving energy needs of the future.
- EPRA’s advocacy for technology-driven operations in the upstream petroleum sector highlights the importance of innovation in enhancing competitiveness and sustainability in Africa’s energy industry.
- The unveiling of new regulations and efforts to create a stable regulatory environment demonstrate EPRA’s commitment to promoting transparency and attracting investments in Kenya’s petroleum sector.
- The appointment of DG Daniel Kiptoo as Vice Chair of ICER underscores EPRA’s global recognition and leadership in shaping energy regulatory practices.
- EPRA’s focus on research and technology as catalysts for Kenya’s energy future signifies a strategic approach to driving innovation and efficiency in the sector.
- By embracing technological advancements and fostering collaboration, African countries can unlock the full potential of their petroleum resources and drive sustainable energy development across the continent.
Tags: regulatory, upstream
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