Sub-Saharan Africa Boosts Oil, Gas Projects

Sub-Saharan Africa Boosts Oil, Gas Projects

Sub-Saharan Africa is expected to start operations of 43 crude and natural gas projects in total by 2025. Tullow Oil plc, Total S.A, Chevron Corporation, and Eni SpA are interested in the regional investments, Economic Times informed, according to data published by the research and consulting firm GlobalData.

The report indicated that 31 projects relate to crude, while 12 will develop natural gas reserves of the African continent. Nigeria is set to lead the region with 11 of the planned projects, followed by Angola with 8 scheduled projects, reported Oil & Gas.

The planned projects are expected to contribute 1.1 mb/d of oil to global crude production in 2025 and 7.7 bcf/d to global gas production.

Major undeveloped discoveries in the sub-Saharan region include Zabazaba-Etan and Nsiko both located in the Niger Delta Basin.

Tullow oil plc and Total S.A. will lead the regional investments in terms of operatorship with five planned projects each. The two companies are expected to operate nine crude and one natural gas projects. Chevron Corporation will develop three of the scheduled projects.

Capital expenditure (Capex) is expected to amount to around $153.5b between 2016 to 2025. Eni SpA will have the highest Capex with $21.3b over the next ten years.


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