Oil and gas
The oil and gas industry is showing considerable growth in the Western Indian Ocean region, representing both economic opportunity as well as significant risks in terms of the negative impacts on the coastal and marine environment.
In the past 10 years, there has been explosive growth of oil exploration activities in the Western Indian Ocean region. Reserves have been found along the eastern coast of Africa, and current efforts to harness hydrocarbon resources are ongoing. During the development and production phases, oil spills and other oil/gas-related emergencies are possible, thus requiring robust emergency preparedness and response capabilities.
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.