It is Okay the African start-ups have been awarded deep-sea exploration blocks. The awards are opportunities the start-ups could develop experiences and source seed capital through. The African start-ups could promote the blocks for others to contribute in some of the seed capital for some shares of their rights on the exploration blocks.
African oil and/or natural gas exploration blocks should be granted to indigenous African start –up companies to promote for partnerships with others and/or use as collateral in the mobilization of seed capital through loans.
Granting the blocks to the start-up African companies is empowering them for increased African participation in the foreign dominated development and exploitation of African natural resources.
It is the rights on exploration blocks rather than financial muscle and/or exploration experiences were the starting point in the evolution of the well funded and experienced oil and natural gas companies we have in the world.
Moreover, African private sectors are better equipped than African public sectors with the skills required in the negotiation of oil and natural gas contracts with international private sector companies.
Open tendering and transparency in the awarding of large scale exploration blocks like in oil and natural is always good as it enables all interested to compete for the opportunities, and Africans Governments to maximize their shares of interest, but it should strictly be for African companies to promote for joint ventures with the foreign companies.
African Governments shouldn’t issue large scale exploration rights to foreign companies directly or to African and foreign companies on equal terms. They should issue to African private sector companies or African private-public joint ventures which would promote for joint-venture partnerships with the foreign companies.