US$194bn to be spent on upcoming oil and gas fields in Africa by 2025: GlobalDataThursday, 29 March 2018 04:00Africa aims to boost its untra-deepwater oil and gas projects. Conventional gas projects will require US$99.1bn, while the investments into unconventional gas and coal bed methane (CBM) projects would total US$700mn in upstream capital expenditure by 2025. Nigeria accounts for US$48.04bn or more than 24.8 per cent of total capex into upcoming projects in Africa over 2018 to 2025. Angola is expected to contribute about 11.3 per cent to the total capex spending in Africa between 2018 and 2025. In Africa, 93 upcoming oil and gas projects will call for US$413bn in capex to produce more than 13,416 mmbbl of crude and 184 trillion cu f of gas.

Source: The North Africa Journal March 29, 2018 04:41 UTC