The Nigerian National Petroleum Corporation (NNPC) plans to attract $48.04 billion in oil and gas investments over the next seven years, Group MD, Maikanti Baru, said on Monday. Baru who was speaking during a session at the 2019 edition of the International Petroleum Week in London, called on investors from across the globe to take advantage of the expected investment opportunities. According to him, over 41 billion barrels of oil (bbl) and 319 trillion cubic feet (tcb) of gas were yet to be discovered in the sub-Saharan region. The NNPC boss also stated that within this investment window, the country would have 20 out of the 93 projects to be funded across the continent’s oil and gas industry. Baru said 23.8 percent of CAPEX in Africa would be spent in Mozambique, Angola Tanzania, Senegal, Mauritania, Uganda, Egypt, Algeria and Kenya.

Source: The North Africa Journal March 05, 2019 15:00 UTC