Africa Oil and Gas Outlook 2019 released by AOW and Menas Associates

AOW offshoreAfrica’s economic performance looks promising, particularly as global oil markets finally recover from 2015-2016 lows, according to a report by Africa Oil Week (AOW) and Menas Associates on Africa’s oil and gas sector

Africa’s proven oil and gas reserves respectively account for 7.5 per cent and 7.1 per cent of global totals.

Experts predict that 2019 and beyond will see deep offshore exploration and mega gas finds, with the development of trans-continental pipelines, gas-to-power initiatives and refining potential.

The report delves into major trends for 2019, including political transitions and regional integration through the African Continental Free Trade Agreement (ACFTA) which promises to reduce barriers to intra-African trade, facilitate the movement of people and strengthening Africa’s prominence on the world stage.

As the global consumption for natural gas rises, Africa’s gas production grew by eight per cent between 2017 and 2018, largely out of Egypt.

In terms of opportunities, sub-Saharan Africa’s two largest producers of oil – Nigeria and Angola – are expected to launch bidding rounds this year. Equatorial Guinea, Uganda, Gabon and Congo Brazzaville have ongoing rounds, Ghana launched its first licensing round at the 2018 edition of Africa Oil Week and Madagascar hopes to offer a number of blocks this year.

Africa Oil Week will feature two days dedicated to national showcases and bidding rounds at their upcoming event with 16 countries including Côte d'Ivoire, Equatorial Guinea and Mozambique -presenting their national hydrocarbon sector to Africa Oil Week’s audience.

Alain Charles Publishing, University House, 11-13 Lower Grosvenor Place, London, SW1W 0EX, UK
T: +44 20 7834 7676, F: +44 20 7973 0076, W: www.alaincharles.com

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