* Service industry eyes Mozambique, Tanzania, Kenya gas
finds
* Proximity to exploration can boost S. Africa service yards
* Mozambique offshore activity already raising demand
By Wendell Roelf
CAPE TOWN, July 27 (Reuters) – South Africa’s budding energy
service industry is aiming to reap the benefits of new natural
gas and oil finds along Africa’s east coast, where geographical
proximity gives it the edge over other hubs in Europe, Singapore
and Dubai.
Located at the foot of Africa along a major shipping route,
South Africa is well placed to take advantage of increased
exploration by global energy companies in East Africa, where
large gas discoveries over the past year have excited global
interest.
The U.S. Geological Survey estimates that more than 250
trillion cubic feet of natural gas may lie off Kenya, Tanzania
and Mozambique, and discoveries announced this year may hold
enough gas to supply major European economies for at least one
year.
South Africa, the continent’s largest economy, views its
ship and oil rig repair industry as a potential niche market
that could, conservatively, triple its annual revenue to 3
billion rand ($363 million) by 2015 and create 3,000 jobs.
“Our real competitive advantage lies in our proximity to the
action,” said Warwick Blyth, chief executive at the South
African Oil and Gas Alliance (SAOGA), the industry body.
Continued…
