A total of 43 oil and natural gas projects are planned for the Sub-Saharan Africa area and expected to start production by 2025, with Nigeria leading with 11 and Angola having eight, according to a report by GlobalData. The total will comprise 31 crude and 12 natural gas projects.
Entitled ‘H1 2016 Production and Capital Expenditure Outlook for Key Planned Upstream Projects in Sub-Saharan Africa‘, the report reveals that the top companies in terms of operatorship will be Tullow Oil plc, Total SA and Chevron Corporation.
Tullow Oil and Total both have the most projects planned with five, while Chevron Corporation has three.
The Sub-Saharan region will contribute 1,113 thousand barrels of oil a day (mbd) to global crude production and 7.7 billion cubic feet a day (bcfd) to global gas production in 2025 through its key planned projects.
An estimated $259bn is expected to be invested to commence production from key projects, with $153.5bn expected to be spent from 2016 to 2015. With a capital expenditure of $70.4bn, Mozambique will lead the Sub-Saharan region with the highest investment. The African nation will spend approximately $70.3bn on the Rovuma Area 1 Complex and Rovuma Area 4 Complex projects.
The GlobalData report mentions that Eni SpA will have the highest capex spending of $21.3bn among all the companies operating in the region. The company plans on investing in its key planned projects over the next decade.
Located in the Niger Delta Basin, Zabazaba-Etan and Nsiko are the most significant of undeveloped discoveries in the Sub-Saharan region.