With the increasing projects related to oil and gas production and current scenario represents the significant growth of the oil and gas production in the Sub-Saharan Africa. In a research it is observed that the oil and gas industry in Africa pursues to manifest considerable growth, with new hydrocarbon provinces advancing at an important step. According to the report analysis, ‘H1 2018 PRODUCTION AND CAPITAL EXPENDITURE OUTLOOK FOR KEY PLANNED UPSTREAM PROJECTS IN SUB-SAHARAN AFRICA – NIGERIA AND MOZAMBIQUE DOMINATE CAPEX OUTLOOK’ states that Nigeria escort with the highest number of planned projects, followed by Mozambique and Ghana. Moreover, the main oppositions can be identified by the institutions in the oil and gas industry have remained strongly unchanged with the top three problems of undetermined regulatory structure, poor physical infrastructure and corruption also detected as the huge challenges in the recent past years. Furthermore, the various organizations were worked accordingly for facing these challenges and Nigeria was one of the few countries where defendant did not appraise it to be of the top-three issues or challenges to advancing the market.
By 2025, in Sub-Saharan Africa, a total of 64 key crude oil and natural gas projects are predicted to start operations whereas, key projects in Sub-Saharan Africa are anticipated to grant up to 2 mmbd to global crude production and more than 8 bcfd to the global production of gas in 2025. In addition, the taxation concern has also become an important issue to the companies of Africa as uncertain taxation as well as a latest tax regulation has made a supplementary financial burden for key players. Besides this the Africa is observing the advancement of one of the more crude oil projects in the recent trend. Furthermore, there are numerous projects around the globe that are integrating latest technologies in order to continue the relevant projects are being developed in Africa. These projects of crude oils are a revolutionary step in the oil and gas industry and are expected to open a wide number of employments during the implementations of projects. From the main operators, Eni East Africa SpA, Total Upstream Nigeria Ltd, and Esso Exploration and Production Nigeria Limited steering in terms of operatorship of planned and broadcast projects.
By the time numerous development have been taken place in Africa that are supporting crude and natural gas projects and these advancements are being brought related for the dealing purposes. This evidently signifies the Africa’s potential in the oil and gas production mechanism in 2025. Moreover, the government and national oil key leading players playing a n efficient role in significant growth and advancement in Sub-Saharan Africa’s oil and gas sector and many regions have a host of strict rule and regulations that build challenges for key players and investors to overcome across the globe. Furthermore, with the good governance and realistic schedule in the Sub-Saharan Africa are deemed to be essential for improved efficiencies and cost management. Therefore, in the coming years it is expected that the production of oil and gas in the Sub-Saharan Africa will grow with the more projects in this region over the decades.
For more information on the research report, refer to below link:
Ankur Gupta, Head Marketing and communications