Conventional gas projects will require US$86 billion, while the investments into unconventional gas and coal bed methane (CBM) projects will total US$1.2 billion and US$0.1 billion respectively in upstream capex by 2025.
Peter Heath, Oil & Gas Analyst at GlobalData, comments: “Nigeria will lead the way with US$47.2 billion or over 26% of US$180 billion of capex between 2018 and 2025, and has 23 accounted and planned fields. Among these, the top fields in terms of capex for the period are Zabazaba-Etan with US$11.1 billion, Bonga North with US$8.4 billion and Bonga Southwest/Aparo with US$3.9 billion.”
Mozambique follows with US$46.2 billion or approximately 25% share in Africa’s planned and announced capex over 2018 and 2025 and has seven planned and announced fields. Deepwater Golfinho-Atum Complex, two ultra-deepwater fields Mamba Complex and Coral South are the top three fields with capex for the eight-year period of US$17.1 billion, US$15.0 billion and US$6.8 billion respectively. All three are conventional gas developments.
Angola is expected to contribute US$20.0 billion or an estimated 11% to the total capex spending between 2018 and 2025. The country has six planned and announced fields. The top three fields are Orca, Kaombo Complex and Lucapa, with capex of US$7.1 billion, US$5.1 billion and US$3.4 billion, respectively.
Tanzania, Algeria, Uganda, Egypt, Kenya, Senegal and Congo Republic have a combined forecast capex of US$50 billion, or approximately 28% of the total capex spending on upcoming projects in Africa for the period. GlobalData expects that over their lifetime, the 88 upcoming oil and gas projects will require US$384 billion in capex to produce over 12 356 million barrels of crude and 178 209 billion ft3 of gas.
Upcoming ultra-deepwater projects in Africa will have the highest total capex at US$212.1 billion. Deepwater projects will require US$80.9 billion over the lifetime, while onshore and shallow water projects carry a total capex of US$63.0 billion and US$26.8 billion, respectively.
