GlobalData’s latest report, “H2 2018 Production and Capital Expenditure Outlook for Key Planned Upstream Projects in Sub-Saharan Africa – Royal Dutch Shell Dominates Production and Capex Outlook” indicates that a total of 67 crude and natural gas projects are expected to start operations in 20 countries during 2018–2025. Among these, 16 represent the number of planned projects with identified development plans and 51 represent the number of early-stage announced projects that are undergoing conceptual studies, and are expected to get approved for development.
In terms of the number of planned oil and gas projects, Nigeria leads among countries with eight projects, followed by Mozambique with two projects. In terms of announced projects, Nigeria once again leads with 20 projects, followed by Angola with five projects.
Figure: Major Planned and Announced Projects Count and Capex by Key Countries in Sub-Saharan Africa, 2018–2025. Source: GlobalData.
Key projects in sub-Saharan Africa are expected to contribute about 2.1 million barrels of oil equivalent per day of global crude and condensate production and about 9.4 billion cubic feet per day of global gas production in 2025.
A proposed capital expenditure of US$20.3 billion is expected to be spent between 2018 and 2025 to bring the planned projects online in sub-Saharan Africa, while $154.6 billion expected to be spent on key announced projects.
Among companies, Royal Dutch Shell Plc, Exxon Mobil and Nigerian National Petroleum Corporation have the highest level of spending on planned and announced projects during the forecast period with $19 billion, $14.9 billion, and $11.1 billion, respectively.
GlobalData is this website’s parent business intelligence company.