High-cost projects under the microscope

摘要

High-cost oil and natural gas projects in sub-Saharan Africa face delays because of the drop in oil prices. At least four Nigerian projects, three deepwater and one in shallow water, face delays or cancellation because of the oil price fall, state-owned oil firm NNPC says. And Italian Eni’s Zabazaba, Chevron-operated Nsiko, and ExxonMo- bil’s Uge and Bosi projects are awaiting final investment decisions. High development costs, stringent local content laws and long lead times were delaying developments even before the oil price fall. Deep and shallow-water projects in Angola and Ghana will face similar delays, NNPC says.