Over $169.5bn in capital expenditure will be spent over the lifetime of the top ten upcoming oil and gas projects in Africa to produce 24.8 billion barrels of oil equivalent, according to research and consulting firm GlobalData.

These 10 projects, selected from 93 upcoming projects, will contribute incremental capacity of 920,452 barrels of oil equivalent (boe) to global supply by 2025. Out of the top ten upcoming projects, nine were conventional gas developments, and the remaining project, Banga North, is a conventional oil development. Prosperidade in Mozambique is the largest, with an anticipated peak production of 523,000 barrels of oil equivalent per day (mboed) in 2037 at an estimated cost of $37.5bn.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

GlobalData reports the average development breakeven oil price for top upcoming deepwater projects in Africa at $68/bbl and the average development breakeven gas price for top upcoming deepwater and ultra-deepwater projects at $6.6/mcf.

GlobalData estimates $175bn will be spent to bring the top ten upcoming projects online, with $67.7bn forecast by 2025. Ultra-deepwater, conventional gas projects, Prosperidade and Mamba Complex developments in Mozambique, collectively lead capital investment with $37.5bn each over their development lifetime, followed by Mozambique’s Deepwater conventional gas project, Golfinho-Atum Complex with $22bn. Differentiating for project type, GlobalData expects full-cycle capital expenditure per barrel of oil equivalent to average $12.3 for conventional oil projects, and $6.9 for conventional gas developments.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.