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Home Africa

Nigeria and Mozambique dominate capex outlook in sub-Saharan Africa

FurtherAfrica by FurtherAfrica
August 13, 2018
in Africa, Development, Economy, Finance, Government, Mozambique, Natural Resources, Nigeria, Trade
Reading Time: 2 mins read
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GlobalData’s latest report, ‘H1 2018 Production and Capital Expenditure Outlook for Key Planned Upstream Projects in sub-Saharan Africa – Nigeria and Mozambique Dominate Capex Outlook’, indicates that a total of 64 planned and announced crude and natural gas projects are expected to commence operations in sub-Saharan Africa during the period 2018–2025.

Among these, 20 represent the number of planned projects with identified development plans and 44 represent the number of early-stage announced projects that are undergoing conceptual studies and that are expected to get approved for development.

The total crude and condensate production from announced and planned projects in sub-Saharan Africa is expected to be around two million barrels per day (mmbd) in 2025 and the total natural gas production in 2025 is about 8.1 billion cubic feet per day (bcfd).

In terms of number of planned oil and gas projects in sub-Saharan Africa, Nigeria leads with 10 planned projects expected to start operations during 2018–2025, followed by Mozambique with two projects. In terms of announced projects, Nigeria once again leads with 13 projects, followed by Angola with five announced projects.

Proposed capital expenditure (capex) of $40.7bn is expected to be spent on development of planned projects in sub-Saharan Africa, and $117.1bn is expected to be spent on key announced projects. Among countries, the top three in terms of highest planned capex spending are Nigeria, Mozambique and Angola with about $17.3bn, $7.7bn, and $5.1bn respectively during 2018–2025.

Among companies, Eni, Royal Dutch Shell and Total have the highest level of spending on planned projects with $7.2bn $5.6bn and $3.4bn, respectively. The highest level of spending on early-stage announced projects is by Royal Dutch Shell, Exxon Mobil Corp and Eni with $15.5bn, $12.9bn and $6.9bn spent on capex, respectively.

Source: Offshore Technology

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Tags: Exxon Mobil CorpFeatureGhanaMozambiqueNigeriaRoyal Dutch Shellsub-Saharan Africaганамозамбикнигерияغاناموزمبيقنيجيرياガーナナイジェリアモザンビーク加纳尼日利亚莫桑比克
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