Nigeria’s oil and gas projects are projected to account for 23 percent of all oil and gas projects to come out of Africa by 2025.
This was stated in a report composed by a data and analytics company, GlobalData, titled, ‘‘Africa Oil and Gas Projects Outlook to 2025 – Development Stage, Capacity, Capex and Contractor Details of All New Build and Expansion Projects.’
In the report, it was noted that about 100 oil and gas projects would start operations between 2021 and 2025.
The report also noted that the petrochemical aspect of oil and gas would account for the most activities in the sector, with 28 projects while refinery would follow with 24 projects and midstream with 23.
It stated that the projects that the country would embark on could position Nigeria as an exporter of refined petroleum products to other African countries,
“Africa Oil and Gas Projects Outlook to 2025 – Development Stage, Capacity, Capex and Contractor Details of All New Build and Expansion Projects,” the report said.
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“Among the upcoming petrochemical projects in Nigeria by 2025, Brass Fertiliser & Petrochemical Company, Brass Methanol Plant are a key projects 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.
“Gas processing projects account for around 39 per cent of all upcoming midstream projects. ANOH-Seplat is one of the key projects with a capacity of 300 million cubic feet per day (mmcfd). The project is in currently in the construction stage and is expected to start operations in 2022.
“In LNG, Nigeria expansion is a key liquefaction project with a capacity of 7.60 mtpa and a project cost of US$7bn. The liquefaction project has been approved and is expected to start operations in 2025.”
