Emmanuel Addeh
Nigeria is expected to have about 100 oil and gas projects commencing operations across the value chain between 2021 and 2025, accounting for 23 per cent of all total fresh projects in Africa, a new report has disclosed.
According to the report by GlobalData, a data and analytics company, new-build projects would dominate the industry and account for around 90 per cent of the total projects commencing operations across the value chain in Nigeria.
In the 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 (25), refinery (24) and midstream (23).
Africa Oil and Gas Projects Outlook Report 2021-2025: Total Number of Projects to Start Operations are 428 globenewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globenewswire.com Daily Mail and Mail on Sunday newspapers.
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Nigeria is expected to have 100 oil and gas projects commencing operations across the value chain between 2021 and 2025, accounting for 23% of the total project starts in Africa.
New build projects dominate the upcoming projects and account for around 90% of the total projects commencing operations across the value chain, according to GlobalData, a leading data and analytics company.
GlobalData’s report, ‘Africa Oil and Gas Projects Outlook to 2025 - Development Stage, Capacity, Capex and Contractor Details of All New Build and Expansion Projects’, reveals that of the 100 projects expected to commence operations during the outlook period, petrochemicals will have the highest count with 28 projects, followed by upstream (25), refinery (24) and midstream (23).
Former Soviet Union Oil and Gas Projects Outlook Report 2021-2025: 73 Upstream Projects, 124 Midstream Projects, 112 Refineries & 227 Petrochemical Projects
April 20, 2021 06:43 ET | Source: Research and Markets Research and Markets Dublin, IRELAND
ResearchAndMarkets.com s offering.
The total number of oil and gas projects in the Former Soviet Union expected to start operations from 2021 to 2025 are 536. Of these, upstream projects would be 73, midstream at 124 projects, refineries at 112, and petrochemicals would be the highest with 227 projects.
Scope
Updated information on oil and gas, planned and announced projects in the Former Soviet Union with start years up to 2025
Provides projects breakdown by sector, project type, and project stage at regional and country level
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Petrochemical projects are expected to drive the commencement of upcoming projects across the oil and gas value chain in Saudi Arabia, accounting for approximately 61% of the total projects expected to start operations during the period of 2021 to 2025.
Among these, newbuild projects dominate with 84%, while the rest are expansion projects, according to GlobalData.
Soorya Tejomoortula, Oil & Gas Analyst at GlobalData, comments: “Saudi Arabia’s aggressive investments in the petrochemicals sector is part of its 2030 vision plan, where the country aims to reduce its dependence on the upstream sector and diversify into other segments. The state-owned company, Saudi Aramco, already acquired 70% stake in the country’s petrochemical giant, Saudi Basic Industries (SABIC), last year for approximately US$69 billion as part of its strategy to diversify from the upstream sector.”