Upstream Promises Remain Constrained By Above Ground Woes

We have identified five main themes that will be critical for the African Oil & Gas sector throughout 2013, as they will determine the performance of the continent during the rest of the decade:

  • We see increasing interest in West African subsalt exploration by major international oil companies (IOCs) as it becomes more evident that the large unexplored offshore acreages contain significant potential.

  • We continue to see increasing gas potential on the continent. On one hand, many developments concerning liquefied natural gas (LNG) facilities are taking shape over 2013, with Angola marking a milestone with its first shipment in June 2013 to Brazil; on the other, we are increasingly bullish on east African gas frontier, where we forecast annual gas production reaching 9.7bn cubic metres (bcm) in Tanzania and 19.5bcm in Mozambique by 2022.

  • Waiting For A Subsalt Revolution
    Africa Oil Production, Consumption (LHS) & Net Exports (RHS), 2010-2022

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This article is tagged to:
Sector: Oil & Gas
Geography: Africa, Morocco