Insight
Sub-Saharan Africa upstream: 2024 in review
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Report summary
In 2024, Sub-Saharan Africa’s production growth was steady. The region’s oil and gas output posted a 5% increase, driven by Sangomar start-up and a recovery in Nigeria. M&A spend nearly doubled with US$6 billion of assets traded. Investment declined marginally despite increased development drilling activity. Floating LNG developments gained momentum with Eni and BP achieving significant start-ups at Congo FLNG and GTA in Senegal/Mauritania. It was an active year for acreage capture with 120,000 square kilometres of acreage acquired. Fiscal reforms were undertaken across the region to encourage interest, especially in mature areas.
Table of contents
- 2024 in review - a global upstream series
Tables and charts
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Sub-Saharan Africa capital investment in 2024
What's included
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