Innovative producing countries are set to re-plan sub-Saharan Africa’s oil and gas operations over the next 5years, contributing to a significant net increase in output and attracting the top global companies.
Currently Nigeria and Angola – sub-Saharan Africa’s heavyweight producer nations, jointly pump approximately 4 million barrels per day of rude as well as dominate natural gas production. This is somewhat rare; merely a few other countries in the region generate more than a couple of hundred thousand barrels of oil and gas alike.
OIL TRADING –
10 years of elevated values, decent terms for exploration drillers from governments progressively open to trade and improved industry techniques for the discovery of deposits have stretched the list of African nations that are on the brim of production. Uganda, Kenya, Ghana and Niger are among the few countries that could see fresh fields generating over 100,000 bpd of oil within 10 years; Mozambique and Tanzania are seeking for gas and also planning compression plants in order to liquefy it for shipping to Asia.
2013 has seen a value of natural gas productivity per day amounting to roughly 6.8 billion cubic feet per day. By 2018, sub-Saharan Africa could be producing an extra 400,000 bpd of oil. At present, some two thirds of sub-Saharan Africa’s gas is exported as liquefied natural.
NEW PRODUCTION –
The latest and most exciting offshore discovery namely Jubilee field is now generating 110,000 barrels per day for Ghana and Tullow, a business which has developed into Europe’s prime oil and gas independent due to developments wthin 16 sub-Saharan countries.
In Congo Republic, the humble producer, Chevron made its last investment choice last month concerning the $10-billion deepwater Moho Bilondo and Moho Nord projects. Such projects and operations are said to provide their first oil in the year of 2015 with the appealing figure of 170,000 barrels a day in 2017.
In Uganda, Tullow has recruited France’s Total and CNOOC of China for oil development. Debates with the government concerning size logistics of associated refineries have instigated delay. Nevertheless, plans for a 200,000 barrel per day pipeline that could link up with more potentially productive wells in Kenya confirm major potential.
Nigeria, whose chief international partner is China’s CNPC, has faith to be producing from its Agadem block early next 2014, with production ramping up to 80,000 barrels per day.
Unquestionably there is no lack of ambition within the sub-Saharan Africa, as exhibited by Tewodros Ashenafi, an Ethiopian driller visited London seeking for $100 million of financing and investment.
He sees his country as a potential 400,000-barrel per day manufacturer established on geology that crosses the Red Sea from the oil-rich Middle East. Tewodros believes the rise of indigenous companies like his privately held SouthWest Energy could be the next corporate wave for the state.
This is a trend that’s on the uptick. African governments are conducting several approaches worldly inviting entity’s to come and explore.