Petroleum Africa
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Monday, August 20, 2018
A recently released report by GlobalData suggests that sub-Saharan African countries will see around $117.1 billion spent on key projects between 2018 and 2025. The report said that a total of 64 planned and announced oil and natural gas projects were expected to commence in the region.
According to the ‘H1 2018 Production and Capital Expenditure Outlook for Key Planned Upstream Projects in sub-Saharan Africa’ report, there are 20 planned projects with identified development plans and 44 early-stage announced projects undergoing conceptual studies and that are expected to get approved for development.
It said Nigeria topped the list with 10 planned oil and gas projects expected to start operations between 2018 and 2025, followed by Mozambique with two projects.
GlobalData said in terms of announced projects, Nigeria led with 13 projects, followed by Angola with five projects.
According to the report capital expenditures for the top three or Nigeria, Mozambique and Angola are $17.3 billion, $7.7 billion, and $5.1 billion, respectively.
Of the companies involved in the projects GlobalData said, “ENI, Royal Dutch Shell Plc, and Total SA have the highest level of spending on planned projects with $7.2 billion, and $5.6 billion and $3.4 billion, respectively. The highest level of spending on early-stage announced projects is by Royal Dutch Shell Plc, Exxon Mobil Corp, and ENI with $15.5 billion, $12.9 billion, and $6.9 billion spent on capex, respectively.”
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