About 88 upcoming oil and gas fields in Africa are seen to receive finance of more than US$180bn between 2018 and 2025, said GlobalData, a leading data and analytics company
Commenting on Africa’s looming oil and gas projects, Peter Heath, oil and gas analyst at GlobalData, commented that Nigeria will lead the way with US$47.2bn (more than 26 per cent of US$180bn of capex). The African country on the Gulf of Guinea has 23 accounted and planned fields, with the top fields in terms of capex being Zabazaba-Etan with US$11.1bn, Bonga North with US$8.4bn and Bonga Southwest/Aparo with US$3.9bn.
The seven planned and announced oil and gas fields in the southern African nation, Mozambique, are estimated to receive US$46.2bn between 2018 and 2025. Among them, deepwater Golfinho-Atum Complex, two ultra-deepwater fields Mamba Complex and Coral South are the top three conventional gas fields with capex being US$17.1bn, US$15bn and US$6.8bn respectively.
Another southern African nation, Angola has six planned and announced oil and gas fields, which are set to contribute US$20bn to the total capex in the given time period. The top three oil and gas fields in Angola are Orca, Kaombo Complex and Lucapa, with capex being US$7.1bn, US$5.1bn and US$3.4bn respectively.
Other upcoming oil and gas projects across African countries such as Tanzania, Algeria, Uganda, Egypt, Kenya, Senegal and Congo Republic have a combined forecast capex of US$50bn for the period.
According to GlobalData, the 88 upcoming oil and gas projects in Africa will require US$384bn in capex to produce more than 12,356 mmbbl of crude and 178,209 bcf of gas.
GlobalData’s recent analytics in Africa’s oil and gas industry ranges from well-site and pipeline issues to upstream, midstream and downstream. In its analysis of global planned isomerisation capacity of refineries, GlobalData shows that Nigeria contributes 15 per cent of global isomerisation capacity, with China having the highest capacity globally.
The global data and analytics company has also estimated that Nigeria has the third highest planned Fluid Catalytic Cracking (FCC) capacity globally. Analysing oil and gas pipeline in the region, GlobalData showed that the 4,400km onshore Trans Saharan Gas project pipeline (NIGAL pipeline) from Nigeria to Algeria is the longest planned gas pipeline in Europe, the Middle East and Africa (EMEA). The African Renaissance Project pipeline and the Gasnosu pipeline, both in Mozambique, are the second and third-longest oil and gas pipeline respectively.
In its analysis of Ghana’s upstream sector, GlobalData said that it has made rapid progress in a relatively short period of time in terms of its hydrocarbons development. In the past five years, eight deepwater and ultra-deepwater discoveries were made in Ghana with watee depths varying from 4,920 to 7,411 feet. Hess Corporation was responsible for six discoveries, while Ophir Energy and Lukoil each had one, with ExxonMobil being the newest entrant in the Ghanaian oil and gas industry.
Recently, GlobalData published a report comparing West African nations’ discounted fiscal takes along Atlantic margin. In the report, GlobalData said that the discounted state take (percentage) for Sierra Leone, old and new terms, has been modelled for hypothesised fields of different sizes and compared with the fiscal regimes of neighbouring countries including Cote d’Ivoire, Mauritania, Senegal, The Gambia, Guinea-Bissau, Guinea and Ghana.
