Oil and gas exploration
In view of the major discoveries oil and gas in the WIO region and the potential social and economic impacts on the economies of the countries on one hand and negative environmental impacts on the other hand it is prudent that adequate governance mechanisms are put in place.
The recent findings of oil and gas in the South Western Indian Ocean (SWIO) region are resulting in a new and unexpected economic dynamic in this part of the Africa continent. Although not a totally new feature, sporadic exploration having taken place for several decades, the recent developments have been made possible by advances in drilling technology and made more urgent by rising oil prices and problems of accessing traditional sources of supply due to current conflicts in the Middle East.
