World Economics - Insight , Analysis and Data

World Economics - Measuring the World Economy
A New Challenge
Ziwase Ndhlovu, World Economics, June 2011
Over the last five years there has been a noticeable shift in focus among leading oil and gas companies active in the continent of Africa. Rather than focusing on West and North Africa for investment opportunities, there has been a move to explore new prospects in East Africa. The region is rapidly becoming a prominent investment destination in both the upstream and downstream oil sectors. In 2011 several majors including BG, Eni and Petrobras, are planning to sink wells and all of them are investing significant amounts in search of deepwater gas reserves. Alongside these exploration initiatives the author assesses plans for a new pipeline with a capacity of 450,000 barrels a day, to be constructed from Juba in Southern Sudan to Lamu on the Kenyan coast. Increasingly, as the author notes, the region is emerging as a significant location for investment in hydrocarbon resources.

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