The report done by Visiongain gives the East African regional oil & gas market forecast from 2013 to 2023 for six countries that include Uganda, Kenya, Tanzania, South Sudan, Mozambique and Ethiopia.
The report uniquely blends qualitative analysis with extensive quantitative data plus global and national markets forecasts to highlight key business opportunities in the region.
“East Africa is the world’s newest oil and gas hotspot. After being neglected for decades the region is now among the fastest growing oil and gas markets in the world.” The report opines
Following the first oil discovery in Uganda in 2006 and gas discoveries along the Mozambique and Tanzanian coast the region has attracted interest from an increasing number of international oil and gas sector players. Offshore exploration has increased exponentially and over the last five years East Africa has developed from a frontier region to becoming a possible game changer in the global gas market.
According to the report the reserve estimates in the region have increased rapidly over the past few years and yet only a small percentage of the region has been properly explored. The market has changed too, as oil majors increasingly drive out smaller companies indicating the industry’s confidence in East Africa’s immense potential.
However, the report insists that deepwater gas for large-scale LNG export terminals is still East Africa’s biggest story attracting worldwide attention.
The report speculates that with the onshore, commercial oil production set to start within the next few years and several oil and gas infrastructure projects being developed billions of dollars of investment will be siphoned to the region. Indeed with its wealth of oil and gas reserves and vast future potential East Africa will be the industry’s hotspot for the next decade.
You can buy the full report here