GlobalData says Africa to see US$194bn in oil and gas capex over next eight yearsTuesday, 03 April 2018 13:08Africa has seen brisk activity on the back of recent offshore oil and gas discoveries. Large offshore oil and gas discoveries in recent years have propped up quite a few economies in the continent. GlobalData said that ultra-deepwater oil and gas field will see capex to the tune of US$11bn and that Bonga North and Bonga Southwest/Aparo will see US$8.9bn and US$3.9bn respectively. Close behind Nigeria, the firm expects Mozambique to scoop up 23.8 per cent of incoming capex over the period. Angola, another OPEC member and the second largest oil producer in the continent, will see 11.3 per cent of capex coming into the continent.

Source: The North Africa Journal April 03, 2018 13:18 UTC