Gabon is banking on its deepwater resources to achieve its ambitious target of doubling oil production to 500,000 barrels per day (bpd) by 2025. The discoveries since mid-2013 by Total, Shell and Eni in its pre-salt formations and those by its neighbours in the Gulf of Guinea have raised hopes that its offshore resources mirror those of Brazil,...
Oil remains the lifeblood of Gabon’s economy, representing half of state revenues and around 80% of its export earnings in 2014. The country benefits from relatively light, sweet crude from accessible onshore deposits, and has potential in deep offshore blocks. However, the absence of any major new oil discoveries, declining production at mature...
The effort to privatise Nigeria’s electricity sector is far from new – it was discussed as early as the late 1990s and the basics were outlined in the 2001 National Electric Power Policy. The spate of policies rolled out over the past two decades came from different administrations, but share a belief that a healthy national power system – one able to meet domestic needs...
Though the focus for power in Nigeria is on leveraging the country’s considerable gas reserves, there is also a master plan and contribution targets for renewable sources. The plan aims to attract investment in a range of related activities beyond building and running power plants, including equipment manufacturing, feasibility studies and capacity building. For now,...
The lack of power has been among the biggest obstacles to higher levels of economic growth, and Nigeria is in the midst of a long and complex effort to increase electricity supply by more than fivefold by 2020, from the current level of about 3400 MW to 20,000 MW. The immediate result of this is a spike in demand for capital to rehabilitate existing capacity and add new...
The landscape of onshore exploration and production (E&P) joint ventures has shifted considerably in recent years. Nigeria and Angola, the two most mature oil players in Africa, have witnessed the most mergers and acquisitions (M&A) on the continent of late, according to Standard Chartered. With some 2.2bn barrels of oil equivalent (boe) sold by international oil...
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