OPEC Beware: West Africa Could Lead The World's Next Production Boom
“Innovation, innovation, innovation,” he added. “The oil industry will tell you that we are innovative, but that’s not necessarily so for the majors. New technology is often challenged. But at the end of the day it’s all about the profits. And there are profits to be made.”
Just as entrepreneurs launched the discoveries in the North Sea as well as the shale boom in the United States, they also are likely to open the door for developing West Africa’s small fields, Millheim said.
In terms of production threats, Saudi Arabia is more concerned about the United States.
“I don’t think Saudi Arabia considers Africa anything to worry about,” Millheim said.
However, it only takes one company thinking outside the box to change that.
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