Cape Town - Despite having experienced significant growth in recent years, Africa’s oil and gas industry remains poised for continued expansion, mainly to the energy appetites of many developed and developing countries across the globe, according to Thabo Thobejane, senior associate of oil and gas finance at Nedbank Corporate and Investment Banking.
Thobejane says a number of recent events in this vital sector of the overall African economy also point to significant change and the potential for continued growth in coming years. This is particularly true for African countries where the upstream and power sectors are fast moving towards development, with a number of projects predicting Final Investment Decisions (FID) either this year or early in 2018.
Some of the more notable of these change and growth catalysts include the agreement of the route for the 1 400km pipeline to carry Ugandan oil through Tanzania for export. Tullow and Total are also expected to reach a final investment decision (FID) on the Uganda project in 2017/18 while, in Kenya, both companies are planning to reach FID in 2018/19.