South Africa is well positioned to take advantage of the project opportunities leveraged off its strategic geographic position, its well established industrial base and growing track record of oil & gas suppliers and service providers.
Oil and Gas Overview
Oil and Gas Potential in Sub-Saharan Africa
Africa, particularly southern Africa, will realise significant opportunities across the oil and gas value chain as this industry develops towards its full potential.
Africa's economies are some of the fastest growing economies in the world, and while oil and gas activity will initially focus on exploration, as the industry matures other areas of the value chain will develop and play a greater importance (logistics, refining, wholesale and retail consumption) as domestic markets for oil and gas products develop.
Two catalysts spurred the development of South Africa's upstream supplier base. Firstly, the development of the South Coast offshore infrastructure starting in the late 1980s led to the establishment of significant South African capacity to fabricate and provide a variety of technical services to the industry. Many of the global service companies also established South African operations to service these developments.
Oil & Gas Statistics
At present, South Africa does not have significant proven oil and gas reserves and produces oil and gas from coal and imported crude oil. The relative under-utilisation of gas is as a result of the abundant coal resources in the country that allowed South Africa to produce petroleum and by-products as well as electricity cheaply from coal.
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