Nigeria to be home to 23% of all oil and gas projects in Africa by 2025
Nigeria is expected to have about 100 oil and gas projects commencing operations across the value chain between this year and the year 2025, accounting for 23 percent of all fresh oil and gas projects in Africa.
According to GlobalData Plc, a data and analytics company, newly-build projects will dominate the industry and account for around 90 percent of the total projects commencing operations across the value chain in the West African country.
In a report titled, “Africa Oil and Gas Projects Outlook to 2025 – Development Stage, Capacity, Capex and Contractor Details of All-New Build and Expansion Projects” the company revealed that of the 100 projects expected to commence operations during the period, petrochemicals will have the highest count with 28 projects, followed by upstream with 25, refinery with 24 and midstream with 23.
Some of the upcoming oil and gas projects in Nigeria
Nigeria has several upcoming oil and gas projects including the 650,000 barrel per day Dangote refinery in Lagos which is expected to start operations in 2022 and to become the largest oil refinery in the African continent.
In the petrochemical sector, the most prominent project is the Brass Methanol Plant, owned by Brass Fertiliser & Petrochemical Company. With a capacity of 1.70 million tonnes per annum (mtpa) the new build plant has already received approval and is expected to start operations by 2025.
Bonga North and Okpokunou Cluster Development are notable projects in the upstream sector in Nigeria. Bonga North is a deep-water conventional oilfield presently in FEED stage and is expected to commence operations by 2025, while Cluster Development is an onshore conventional gas field presently at the feasibility stage and is expected to start operations by 2024.
“Gas processing projects represent around 39 percent of all upcoming midstream projects in the West African country. ANOH-Seplat is one of the key projects with a capacity of 300 million cubic feet per day (mmcfd). The project is currently in the construction stage and is expected to start operations sometime next year,” stated GlobalData.
Source: Construction Reviews Online