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Mozambique oil & gas capex outlook: US$7.7B by 2025 – GlobalData

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Mozambique and Angola, after Nigeria, are the two sub-Saharan African countries expected to receive the most fixed asset investment up until 2025, at a total of US$12.8 billion, according to consultancy GlobalData.

The report, quoted by the Marketscreener website, says that Nigeria is expected to dominate the oil and gas sector in Africa in the next seven years with her Capital Expenditure (CapEx) outlook projected at $17.3 billion US$17.3 billion, while Mozambique will be the recipient of US$7.7 billion and Angola will receive US$5.1 billion between now and 2025.

“In sub-Saharan Africa, Nigeria leads investments in Capex, with ten oil and gas projects expected to start operating between 2018 and 2025, followed by Mozambique with two projects,” said the article citing a report by the leading data and analytics company .

In terms of announced projects, Nigeria once again leads with 13 projects, followed by Angola with five announced projects, according to GlobalData, reads the report on investment in oil and gas in sub-Saharan Africa.

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 between 2018 and 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.

“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)” said GlobalData’s Oil and Gas Analyst, Joseph Gatdula, quoted in the article.

A proposed CapEx of $40.7 billion is expected to be spent on development of planned projects in sub-Saharan Africa, and $117.1billion is expected to be spent on key announced projects, adds the report.

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: Club Of Mozambique

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