NEWS ARCHIVE

Into Africa for Perth petroleum sector

AN AFRICAN centre for Excellence is being set up in Perth by international law firm Minter Elliso...

Into Africa for Perth petroleum sector

According to the law firm, more than 25 Australian companies have set up shop in Africa, with their existing and prospective investment totalling more than $A15 billion.

More than half of those companies were based in Perth and listed on the Australian Securities Exchange, the company said.

Led by Perth partner Duncan Maclean, Minter Ellison's African Centre of Excellence brings together a team of resources industry specialists to advise on the practical legal, political and economic issues that companies need to consider if they already have operations in Africa or are thinking of investing there.

Maclean said that although the resources boom in Australia shows no signs of slowing down, companies were already looking to Africa as the next 'hot spot' and place to be to stay ahead of the competition.

"There are three key issues for companies investing in Africa: making sure they get what they've paid for, ensuring that their asset complies with local laws and can generate revenues while they own it, and eventually being able to sell it and make a profit," Maclean said.

"That's where our African Centre of Excellence comes in, by providing direct access to a team of experts who know the industry and who are specialists in both Australian and African laws to do with things like enforcement, sovereign risk, security of title and corrupt foreign practices."

Australia's resources boom has seen a concentration of energy and resources companies in the west – companies involved in oil and gas and hard rock mining, and these are the ones looking across the Indian Ocean to Africa.

Mclean said Minter Ellison's Perth office was working with clients that had resources projects in Cote d'Ivoire, Morocco, Algeria, Mali, Tunisia, Mauritania, the Congo and Cameroon.

"This is one reason why Perth was the logical place to locate the centre," he said.

"The other consideration was that 28 of the 54 countries in Africa use the French civil legal system and are French speaking."

Mclean said Minter Ellison had lawyers at its Perth office who understand the French legal system and speak the language, as well as bilingual support staff.

"To some extent, the issues for players in the resources sector are the same worldwide," he said.

"What gives you a competitive edge, and where our centre is able to add real value for clients, is in having actual experience in, and knowing, the country you're going into."

TOPICS:

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.

editions

ENB CCS Report 2024

ENB’s CCS Report 2024 finds that CCS could be the much-needed magic bullet for Australia’s decarbonisation drive

editions

ENB Cost Report 2023

ENB’s latest Cost Report findings provide optimism as investments in oil and gas, as well as new energy rise.

editions

ENB Future of Energy Report 2023

ENB’s inaugural Future of Energy Report details the industry outlook on the medium-to-long-term future for the sector in the Asia Pacific region.

editions

ENB Cost Report 2021

This industry-wide report aims to understand current cost levels across the energy industry