Inside Oil and Gas

While Africa accounted for only nine percent of world oil output and less than six percent of gas production in 2016 - a relatively small proportion of global hydrocarbons production - international oil and gas companies are investing exuberantly on huge projects on the continent in anticipation of majordiscoveries to be found in the ‘final frontiers.’ From the Cayara Offshore Profond exploration by BP and Kosmos in Senegal to the fantastic Zohr gas discovery in Egypt, held by ENI, BP and Rosneft, and the Coral South FLNG Project in the Rovuma Basin in Mozambique, billions of capex have been sunk into the continent over the past few years. There is even speculation that, driven primarily by huge gas reserves in Mozambique, Nigeria, Angola and Tanzania, Sub-Saharan Africa will outpace Russia as a global gas supplier by 2040 through an anticipated production of about 175 bcm/yr. 

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