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April 4, 2022

Nigeria leads upcoming oil and gas projects starts in Africa by 2026

By GlobalData Energy

GlobalData’s latest report, ‘Africa Oil and Gas Projects Outlook to 2026 – Development Stage, Capacity, Capex and Contractor Details of All New Build and Expansion Projects’, indicates that Africa is expected to witness 447 projects to commence operations during the period 2022 to 2026. Of these, midstream projects would be the highest, with 150 projects.

In midstream, the trunk/transmission pipelines segment alone constitutes 35% of all midstream projects, followed by oil storage and gas processing with 28% and 23%, respectively. Refinery and petrochemical projects constitute about 40% of all upcoming oil and gas projects in Africa from 2022 to 2026.

Newbuild projects dominate the upcoming projects landscape in Africa, constituting around 80% of the total projects across the value chain. The share of newbuild projects is especially high in the midstream and petrochemicals sectors with more than 90%.

In Africa, about 43% of the projects are in the construction and commissioning stages and are more likely to commence operations during the outlook period. About 36% of the projects are in the planning stages, and the rest have been approved or awaiting approval.

Among countries, Nigeria and Egypt lead the upcoming projects landscape in Africa, accounting for 24% and 19% of the total projects expected to start operations during the 2022 to 2026 period, respectively.

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