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Home Energy

Africa boosts upstream to amplify Oil & Gas production

Rafael Carvalho by Rafael Carvalho
June 6, 2022
in Africa, Energy
Reading Time: 3 mins read
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African hydrocarbon producing countries are increasing oil and gas licensing rounds to be able to stabilize supply of hydrocarbons in years to come to meet growing energy demand as output in legacy projects declines

The introduction of more oil and gas exploration and production licensing rounds across Africa will enable the continent to make new and significant discoveries, increase the production of hydrocarbons, as well as fully utilize the continent’s vast array of energy resources to address energy poverty and accelerate economic growth.

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Although the production of oil and gas in Africa has been rising over the past two decades, declines are anticipated in the coming years due to output reductions in legacy projects, a lack of new exploration in recent years and inadequate investments across the value chain in leading hydrocarbon producing countries such as Nigeria, Algeria, Libya, Angola and Egypt. On the gas front, despite Africa having sufficient supply to meet 2022 – 2023 demand owing to new projects such as the Mozambique Coral Floating Liquefied Natural Gas (LNG) and Nigeria’s LNG Train 7 projects coming online, production declines in Algeria, Nigeria, Libya and Egypt will strain the supply chain from 2025 onwards. Egypt, for example, is expected to record a decrease in production from 74 billion cubic meters (bcm) in 2022 to 50 bcm by 2030 unless major discoveries are made and quickly brought online. On the other hand, the oil sector will also witness production declines with Algeria, one of Africa’s leading oil producers, already starting to record output reductions. Nigeria, the biggest producer of crude oil in Africa, will also record a decline from 2023 whilst production in Sudan and South Sudan and other west African countries will also be affected.

Recognizing the need to expand upstream activities, many countries across the continent have introduced bid licensing rounds across both emerging and frontier markets

In order for Africa to mitigate these declines, the continent will have to boost investments within the upstream sector. Recognizing the need to expand upstream activities, many countries across the continent have introduced bid licensing rounds across both emerging and frontier markets, creating the opportunity for regional and international companies to participate in high potential basins.

Notably, a 2021 licensing round introduced by the Tunisian Ministry of Energy Ministry in which contracts are expected to be awarded in 2022 for four oil exploration licenses. Additionally, Angola, through the National Agency of Petroleum, Gas and Biofuels (ANPG) also opened bidding in 2021 for tenders in Blocks 11, 12, 13, 27, 28, 29, 41, 42 and 43 in the Namibe Basin, and in Block 10 in the Benguela Basin.

Also read: The world’s ten most neglected crises are all in Africa

In addition, the results of some 14 exploration licensing rounds expected to be announced in 2022 across the continent are a testimony of increased focus by African hydrocarbon producing countries to increase activities within the upstream sector. Other licensing rounds planned to be introduced in 2022 and 2023 include those in Ivory Coast, Senegal, Algeria, Congo, Sudan, South Sudan, Somalia, Uganda and Kenya.

“Increasing activities within Africa’s upstream segment will boost oil and gas production and enable the continent to fully monetize its energy resources for economic growth while at the same time meeting demand in other regions such as Europe and Asia.,” stated Tomás C. Gerbasio, Strategy and Business Development Director, African Energy Week adding that, “What Africa needs now is to develop capital-attractive regimes, introduce more licensing rounds and to ramp up investments in new exploration and production projects.”

The AEC’s annual investment summit, the African Energy Week (AEW), which will take place in Cape Town from 18 – 21 October 2022, will discuss measures restraining Africa from expanding its oil and gas upstream market and how they can be addressed. AEW 2022 will host presentations, high-level meetings and panel discussions on how emerging and leading hydrocarbon producing countries in Africa can attract investment to boost exploration and production activities. AEW will unite governments, investors and companies within the continent’s entire oil and gas market and thereby provide a platform for oil and gas licensing rounds and exploration and production deals to be discussed and signed.

Related

Source: AEW Press Release
Tags: AEWafricaAfrica boosts upstream to amplify Oil & Gas productionAfrican Energy WeekAfrican hydrocarbon producingAlgeriaAngolaANPGBenguela basinCongoEgyptEnergyHydrocarbonslegacy projectsLibyaLNGMozambique Coral Floating Liquefied Natural GasNamibe BasinNational Agency of Petroleum Gas and BiofuelsNigeriaNigeria’s LNGOil and gasoil and gas licensing roundsoil explorationSenegalSomaliaSouth SudanSudanUgandaафрикаأفريقياアフリカ非洲
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Rafael Carvalho

Rafael Carvalho

Currently the Managing Editor of furtherafrica.com, I am passionate about writing, in its myriad forms. As I started writing and editing content about Africa, I came to the realisation that, just like our ancestors hailed from the motherland, so is the future, too, very much African-oriented. Join me then, as we learn more about a future that is welcoming, multicultural and full of promise. The future that is Africa.

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