More than $100 billion of active oil & gas projects in West Africa
West Africa has more than $100 billion of active oil and gas projects. More than 72 per cent of the projects are in the execution phase. Nigeria has the most active oil and gas projects, followed by Niger.
West Africa has a population of more than 400 million people. In 2019, the combined Gross Domestic Product in current US dollars for the region exceeded six-hundred and Ninety billion. Energy demand is critical as less than fifty per cent of the population has access to reliable power.
Oil and gas is a significant driver in the regions energy needs. There are currently more than $100 billion active oil and gas projects in West Africa. Out of the $100 billion, $72 billion is in the execution phase with the rest still in the planning and design phase.
According to ABiQ, 72 per cent of the projects are in Nigeria. Niger is in second place with 12.5 per cent of the active projects market. The largest contractor in West Africa is McDermott with 18.5 per cent, followed by Saipem, with 12.5 per cent market share of projects under execution.
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