Insight
Sub-Saharan Africa upstream: 2021 in review
Report summary
2021 saw green shoots of optimism in Sub-Saharan Africa’s upstream sector. Investment rose to US$14 billion after the spending cuts of 2020 and three projects were sanctioned, worth a combined US$2.4 billion. Despite the optimism, perennial problems continued. Liquids production decreased to 4.1 million b/d. Outages in Nigeria and decline in Angola, prevented much of a recovery. Gas on the other hand resumed growth and accounted for close to 25% of the region’s 5.4 million boe/d total production.
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