Africa Welcomes the World In 2005 As It Hosts the 18th World Petroleum Congress

Abstract

Introduction In September 2005, the African petroleum industry will host the 18th World Petroleum Congress (WPC) in Johannesburg, South Africa. The principal host country is South Africa, and the principal oil and gas producing countries of Africa (Algeria, Angola, Libya, and Nigeria) are co-hosts. Each will be among the largest exhibitors in the concurrent South Africa International Oil and Gas Exhibition (SAIOGE). Both the Congress and the Exhibition will be held September 25 to 29 in the outstanding and spacious Sandton Convention Centre in Johannesburg's modern business district. The Congress is expected to attract 3,500 executives and 350 journalists. Over 4,500 participants and exhibitors are expected at the Congress, with over 400 exhibitors and 25,000 visitors anticipated for the Exhibition. The Congress and Exhibition will be the largest oil and gas event held in Africa. Oil and gas production in Africa continues to expand with extensive development now being achieved in West Africa (e.g., Nigeria, Angola, Ivory Coast, and Gabon). At the end of 2003, total world proved remaining reserves of crude oil were estimated at 1,148 billion barrels and the share in African countries was 8.9%. In the same year, Africa's share of world crude oil production was 10.8% and consumption 3.3%. Total world proved remaining reserves of natural gas at the end of 2003 were estimated at 176 trillion cubic metres and the share in African countries was 7.8%. Africa's share of world natural gas production was 5.4% and consumption 2.6%. The progress made in Africa, along with the developments and markets served, are discussed below. South Africa The Republic of South Africa has a total area of 1,219,912 km2 with a population of 42.7 million, and is located on the southern tip of the continent of Africa. The country is divided into nine provinces, with Pretoria as the capital city, Cape Town as the legislative centre, and Bloemfontein as the judicial centre. South Africa itself has 11 languages. English is the predominant language of government, business, and the media, and can be understood by most people. The legal system is based on Roman-Dutch law and English common law. The Dutch settlers (the Boers) resisted the British encroachments after their seizure of the Cape of Good Hope area in 1806, but the Dutch were defeated in the Boer War (1899 – 1902). The resulting Union of South Africa operated under a policy of apartheid- the separate development of the races. The 1990s brought an end to apartheid politically, and ushered in Black majority rule and a democratic government. Economic Overview South Africa has the most advanced economy and the greatest industrial development on the African continent. It has an emerging middle-income market, with an abundant supply of natural resources and a stock exchange that ranks among the 10 largest in the world. The GDP per capita is $10,700 or about one third that of Canada's GDP. This is almost twice as large as that of those African countries with the next largest per capita GDP considered in this review.