More than $80 billion of active oil & gas projects in Nigeria

Jan 12, 2021 | Nigeria, Oil and gas

Nigeria, the most populous country in Africa, has more than $80 billion of active oil and gas projects. The largest developer is NNPC and Saipem is the contractor with the largest market share.

More than $80 billion of active oil & gas projects in Nigeria

Nigeria, the most populous country in Africa, has more than $80 billion of active oil and gas projects. The largest developer is NNPC and Saipem is the contractor with the largest market share.

Nigeria is the most populous country on the African continent. With more than 200 million people and growing by 27 per cent, there will be more than 260 million people by 2030. A fragile energy grid dominated by fossil fuels and an economy dominated by hydrocarbon exports, oil and gas, take centre stage in Nigeria.

There is currently more than $80 billion of active oil and gas projects in Nigeria. The four largest projects currently under execution, each with a budget greater than $10 billion, bring the total value of projects underway to almost $60 billion.

The largest developer is the Nigerian National Petroleum Corporation, with a 22 per cent share of the active projects market. Second place goes to ENI S.p.A. with 13 per cent followed by Nigeria LNG Limited with 12 per cent.

The largest contractor is Saipem S.p.A. with 22 per cent of the projects under construction. Engineers India Limited and McDermott share second place with each having 19 per cent of the oil and gas construction market.

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For more information on projects and companies in Nigeria, please contact us here.

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