Central Africa has more than $50 billion worth of active oil & gas projects
With the fastest population growth on the African continent over the next 10 years, creating prosperity for its burgeoning population is a priority. With over $50 billion in new oil, gas and chemical plants, these projects will create much-needed employment.
The Gulf of Guinea bordering Central and West Africa is rich in Hydrocarbon deposits in relatively shallow waters. From Angola in Central Africa to Ghana in West Africa and many of those in-between has benefitted from these rich deposits.
In Central Africa, Angola has the largest offshore oil reserves and is the second-largest exporter of oil in sub-Sahara Africa. ABiQ currently track projects to the value of $52 billion in this region of which Angola is the largest. Historically, project execution has been poor with dismal performances when executing projects against budget and time. However, should these projects proceed as announced, construction will peak in September 2022 with more than $1.8 billion being spent during the month.
For more information on project opportunities in Central Africa, get in touch.