The rise in oil prices is causing dissatisfaction among drivers. But it also increases oil activity in Africa. Redevelopment, large companies are once again interested in the continent and discoveries are on the way, as we have just seen in Nies. Clare Pags.
The oil and gas industry is returning to Africa. After a sustained decline in activity between 2014 and 2017 – the years of falling oil prices, 2018 saw more drilling. This is the largest increase in three years: 30 new wells in Africa compared to 17 last year. We are still far from 100 wells per year on average between 2011 and 2014, but the boot is very clear. About $ 7 billion was spent on the mainland, compared to less than $ 5 billion last year. Upon arrival 30% of the additional volumes of hydrocarbons discovered. Last Friday, Nizar confirmed the potential of Capra's deposits at the Algerian border.
Sixteen African countries plan to call for tenders
2018 also marks the return of the largest companies in Africa. "Trends" come back into effect. With a better balance sheet, they can and should invest again to expand their portfolio of deposits. British champion BP bought shares in the small cosmos company in the gas fields of Mauritania and Senegal, the French and Italian giants Total and I are close to a production sharing agreement in the Ivory Coast, negotiated separately in Algeria. American ExxonMobil acquired shares in the blocks of Namibia and Mozambique.
And it should not stop there since no less than 16 African countries are considering new tenders, including Cameroon, Congo, Ivory Coast, Gabon, Gambia, Ghana, Nigeria, Senegal and Sierra Leone.
Refining projects in eight countries
Potential income for all these countries or new oil states of Africa. Provided they negotiate their export contracts well, keeping in mind the reversal trend, which can be brutal. Building refineries or modernization, eight weighing countries, including Angola, Equatorial Guinea, Congo or Ghana; Some countries have already made that choice, and without necessarily being a big oil producer, they are exporting petroleum products to Africa, which is expected to double its consumption over the next 12 years. These are Burkina Faso, Mali, Niger and of course Nigeria.