Government seeks to create ‘enabling environment’ for oil and gas investors

The Department of Mineral Resources has committed to working towards an “enabling environment” for traders and investors in the oil and gas sector.

Addressing stakeholders in the oil and gas industry in Cape Town last week, Minister of Mineral Resources, Gwede Mantashe said his department recognised the sector’s potential to grow the economy and create jobs.

“Together we will develop this sector. We know that government cannot grow and develop this sector [alone]. It is you who can develop and grow this sector and it is us who must create the necessary environment for you to develop the sector,” he said. 

Mantashe’s engagement with industry players comes as the country is on a drive to attract investment into the economy to bolster economic activity and create jobs.

“As a country, we are hungry for investment… we are not doing you a favour. We want you to invest in our country and help us grow our economy but in the process [for investors] to make money.” 

Science and Technology minister, Mmamoloko Kubayi-Ngubane, added at the session that her department was collaborating with the Department of Mineral Resources on several projects, especially on shale gas. 

“The areas of research will include geology, gas resource quantification, shale gas extraction, water, waste, bio-diversity, health, social impacts and skills development,” she said.

Kubayi-Ngubane added that the department sought to support a sustained research and development programme for the burgeoning offshore oil and gas industry and offshore geoscience in general.

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