Great expectations for West Africa's emerging frontiers

摘要

West Africa has been dominated by E&P activity in Nigeria and Angola. This heavyweight duo has been the main target of development dollars from the majors and large independents for years and will continue to attract the lion's share in the near future - but the tide is changing. Africa's west coast as a whole is getting serious competition from its east coast cousin, where a surge of exploration success has resulted in giant gas discoveries offshore Mozambique, Tanzania, and Kenya. However, it is still mainly proven deepwater oil plays with large associated gas resources that the west coast can offer, along with an established logistical and supply network. With the outstanding success of early fast-track developments in countries such as Ghana led by independents Tullow Oil Plc, Anadarko Petroleum Corp., and Ophir Energy Plc, an increasing number of new entrants has been encouraged to join the party, tempted by the open access and relatively attractive leasing terms.