Boris Ivanov is an expert in gas and oil exploration and extraction. He uses GPB Global Resources B.V. as the vehicle in the industry. Through the Amsterdam-based company, Ivanov has managed to set up petroleum extraction centers in Africa, South America, and the Middle East. Besides, the centers contribute to economic development to more than 4,000 employees.
Although the energy production and extraction industry is a competitive sector, Boris Ivanov acquired enough expertise from Gazprom E.P. International B.V. He worked for the company as Director-General and Chief Executive Officer from 2007 to 2011. It’s during this time that Boris gathered the knowledge as he worked on the Gazprom Group’s expansion strategies in Russia and other regions. Boris decided to focus on Africa because the continent has many untapped energy resources due to extraction challenges. Check out rogtecmagazine.com to read full interview of Boris Ivanov.
— Boris Ivanov (@BorisIvanovGPB) May 5, 2020
According to Boris Ivanov, Africa consumes less energy, but it’s unable to utilize the resources for its benefit due to these challenges. However, the high increase in population would soon surpass the region’s growth in the energy portfolio. By extension, oil extracted in the area might not be enough for local consumption and exportation. Therefore, the global demand would remain higher than the supply, thus, pushing prices per barrel higher.
The GPB Managing Director attributes the increase for shale across North America as the factor leading to improvement in the energy supply chain. Africa might benefit from the continuous rise in oil prices since the 2008 recession. The continent has discovered various extraction sites, thus, becoming a significant supplier in the gas and oil industry. Boris Ivanov points out that companies like Tullow and Total have started to boost their investments in the region.
In a recent development, the duo plans to invest in a multi-dollar pipeline project in East Africa because of Uganda and Kenya’s discoveries. However, Uganda is yet to finalize its extraction process. On the other hand, Kenya launched its production in 2019 through a shipment of oil worth $12 million. The two countries look forward to reaching the level of other players, including Angola and Nigeria. South Africa, Senegal, Chad, Niger, and Ghana have attracted investors like China due to their extensive findings. Source: https://everipedia.org/wiki/lang_en/boris-ivanov