GLOBAL REACH WITH A LOCAL TOUCH.
Africa has proven natural gas reserves of 502 trillion cubic feet (Tcf) with 90% of the continent’s annual natural gas production of 6.5Tcf coming from Nigeria, Libya, Algeria and Egypt.
On average, transactions worth USD1 billion occurred every 17 days in the oil & gas industry during 2013.
Organisations identified safety, health, environment and quality (SHEQ) as the most significant factor that would affect their companies’ businesses over the next three years.
In 2012, the survey showed that 25% of the total workforce at respondents’ companies comprised expatriates.
Africa’s oil and gas potential will grow significantly over the next two decades, driven by population growth, urbanization and the emergence of a wealthier middle class on the continent.
- Six of the top 10 global discoveries in the oil and gas sector in 2013 were made in Africa.
China and India have grown to be the biggest importers of African oil.
Although finding oil and gas in Africa can still be low cost, developing it needs deep financial investment and long-term commitment.
Governments and national oil companies play a significant role in sustaining growth and development in Africa’s oil & gas sector.