This forum was the third meeting of the New Petroleum Producers Discussion Group. It was hosted by the Tanzania Petroleum Development Corporation in Dar es Salaam. The group’s 2015 meeting was held against the backdrop of a steep fall in global oil and gas prices, which has dampened the exploration boomin frontier areas and caused delays to and the shelving of development projects in many areas. While emerging producers around the table reported a slowdown in investments, there was nonetheless the expectation –and, indeed, the hope –that the market disruption would prove only temporary. Comments made by participants during the course of the meeting, which took place over three to four days, showed that this initial optimism waned and the new price reality was increasingly accepted. The discussions focused on how national development plans, licensing, messaging to the public and local content could be adapted to the new context.
A summary of the Annual Meeting is available to download at the link below.