Expert analysis on Africa’s oil & gas outlook
Insight into investment trends across upstream and renewables
Regional forecasts and market intelligence you won’t find elsewhere
The African Energy Chamber’s State of African Energy 2026 Outlook Report presents a comprehensive review of the continent’s evolving energy landscape, highlighting robust momentum across upstream, power, and renewable sectors, alongside Africa’s strategic role in the global energy transition.
Against a backdrop of declining global exploration activity, Africa's offshore frontier basins present a unique landscape of prospective deep and ultra-deepwater opportunities. Recent high-impact wells have yielded significant discoveries and opened new plays in the region, highlighting the encouraging outlook for the continent's deepwater basins. Anticipated investments are set to reshape the increasingly competitive offshore environment; however, it is noteworthy that 80% of Africa's ultradeepwater hydrocarbon resources remain unmonetized.
While gas faces significant development challenges, it has the potential to enhance the economics of upstream projects and address regional or broader energy supply deficits. It is estimated that vast discovered gas resources in Africa remain undeveloped due to limited capital expenditure (CAPEX) available, a lack of a developed gas market, and insufficient infrastructure. This presentation will explore key Floating Liquefied Natural Gas (FLNG) projects in West Africa, highlighting the primary drivers behind their development. We will delve into the undeveloped gas potential in key markets, focusing on FLNG as a viable solution to overcome market limitations. Additionally, we will assess the economics of hypothetical FLNG projects aimed at developing stranded gas resources in the Kwanza Basin in Angola.
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