Ensuring Future Generations Benefit from Africa’s Oil and Gas Resources

Ensuring Future Generations Benefit from Africa’s Oil and Gas Resources

While Africa looks to accelerate the development of its significant oil and gas resources – particularly as the continent struggles with the impacts of the COVID-19 pandemic and energy poverty crisis – significant investment is needed in the upstream and midstream sectors. Rather than abandon fossil fuels in the name of the energy transition, Africa needs to ramp up exploration in order to revitalize production and ensure energy security.

The African Energy Chamber spoke to John Hamilton, CEO Panoro Energy, about the reasons Africa’s production is declining, what can be done to turn this around, and the role gas monetization and development will play in the continent’s energy future.

What will this production underperformance in Nigeria, Libya, Angola, Congo, Equatorial Guinea and African countries mean for the continent as a whole?

Production underperformance is not necessarily a term I would use. Generally, reservoir performance and well productivity has met or frequently exceeded expectations which is a reflection of the high-quality petroleum geology much of the continent is blessed with. The underlying issue is more about investment and development activity not offsetting a natural depletion curve and the risk of substantial oil volumes being left stranded in the ground as the global energy transition