Sub-Saharan Africa upstream: 2019 in review

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Production is up by 4% as two mega projects in Nigeria and Angola ramp up, offsetting declining production from mature assets. Selective drilling has paid off for explorers, quadrupling discovered resources with 12% fewer exploration wells. Project sanctions are up by US$20 billion with the focus on LNG. Total set a regional record following a US$8.8 billion deal with Occidental. Total also leads the way with capital investment, operating the top four projects by spend in 2019. Gabon, Cameroon and Kenya released new fiscal terms to attract investment. Nigeria bucked the trend by toughening its deepwater PSC terms. Our review of 2019 provides key statistics for the year in Sub-Saharan Africa, including investment trends, M&A, exploration, project sanctions and production.

Table of contents

  • Total dominates M&A, production growth and investment

Tables and charts

This report includes 1 images and tables including:

  • Sub-Saharan Africa: Hot and not in 2019

What's included

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  • Document

    SSA Upstream - 2019 in review.pdf

    PDF 1.86 MB