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Follow on Google News | Oil & Gas Exploration in Emerging African MarketsImproving Political Scenario and Infrastructure Developments in Africa Will Encourage Oil and Gas Exploration Activities
By: Rajesh Gunnam The initial hydrocarbon exploration activities in Africa started in the early 20th century. Due to the First and Second World Wars, the exploration activities in the region were severely affected. After the Second World War, exploration activities continued. In the 1970s and 1980s, the exploration and development activities were hampered due to the political instability and inadequate infrastructure. The inaccessibility of several parts of Africa was also a deterrent in attracting investment for the development of the oil and gas industry in the region. Since the early 1990s, efforts from the United Nations and other countries have helped to stabilize political conditions in African countries such as Mozambique and Namibia. Financial and military assistance from global organizations such as the UN and International Bank for Reconstruction and Development (IBRD) has helped to maintain peace in the region. With improving political stability, African countries are witnessing a steady increase in the participation of foreign companies in their upstream sectors. Many foreign companies have formed joint ventures (JVs) with domestic companies for exploration and production activities by providing technological and infrastructural enhancements. ENI, an Italian oil and gas company, is carrying out exploration activities in Ghana and Mozambique in collaboration with the countries’ respective National Oil Companies (NOCs). For Sample Pages, please click or add the below link to your browser: http://www.globaldata.com/ The continent’s huge potential for petroleum reserves has made Africa a lucrative region for oil and gas exploration activities. The results of preliminary geological studies suggest that emerging investment destinations in Africa such as Ghana, Mozambique, Madagascar, Namibia and Tanzania are estimated to hold large amounts of oil and gas resources. Ghana’s Jubilee oil field, which started production in December 2010, is expected to produce 120,000 barrels of oil per day (bopd) by 2012. The field is also expected to produce approximately 12 million cubic feet per day (MMcfd) of natural gas. In Mozambique, four gas fields in the Rovuma basin have been discovered, which have huge oil and gas potential. In Madagascar, it is estimated that out of the 600,000 square miles that make up Madagascar, half of the island covers the heavy oil-rich sedimentary basins of Morondava, Majunga and Ambilobe. Tanzania has been establishing itself as a major gas producer in East Africa through the development of its two gas fields – Songo Songo and the Mnazi Bay. “Oil & Gas Exploration in Emerging African Markets - Analysis of Exploration & Development Plans of Key Companies”, is the latest report from GlobalData, the industry analysis specialist, which analyzes oil and gas exploration in emerging African markets. The report gives information on oil and gas exploration activities in 11 emerging markets in the region. The report covers key sedimentary basins in each region. It also provides information about major exploration blocks in each basin. Information about key regulatory and fiscal regimes for each country is also provided in the report. The report also focuses on major exploration companies in each country. The key drivers and challenges in the oil and gas exploration in emerging African markets is also given in the report. The report is built using the data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s team of industry experts. For further details, please click or add the below link to your browser: http://www.globaldata.com/ Visit our report store: http://www.globaldata.com/ For more details contact: pressreleases@ North America: +1 646 395 5477 Europe: Asia Pacific: # # # GlobalData is a global market intelligence services company providing information research and analysis products and services. End
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