Kenya’s Petroleum (Exploration, Development and Production) Bill, 2017 that’s expected to be passed later this year provides a legislative environment that protects communities living in resource rich environments as well as responsible investors.
This was stated by Petroleum and Mining Cabinet Secretary, Hon. John Munyes in an address to the global energy industry stakeholders in Houston, US, where they are convened for the annual CERAWeek; the world’s largest gathering of energy policy makers and executives., often referred to as the ‘Davos of the oil and gas industry’.
Investors interested in the nascent Kenyan oil and gas industry were advised by CS Munyes to ‘come partner with Kenyans’ but to do so with serious intent and a commitment to respect communities and the environment.
The CS also reiterated his commitment to ensure the National Oil Corporation of Kenya plays a key role in the evolving oil and gas sector in Kenya and to transform the company into a national pride. CS Munyes is accompanied at the global forum by Mr. Sam Gakunga, Chairman of National Oil Corporation of Kenya’ Board of Directors and Ms. MaryJane Mwangi, the Corporation’s Chief Executive Officer.
CERAWeek provides comprehensive insight into the global and regional energy future by addressing key issues from markets and geopolitics to technology, project costs, energy and the environment, finance, operational excellence and cyber risks. Seminal presentations at this year’s CERAWeek indicate a paradigm shift with growing attention towards Liquified Natural Gas (LNG) as a key source of energy in the years to come.