The Future Oil and Gas Exploration In East Africa

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Let’s look at oil and gas exploration in Uganda, Kenya, Ethiopia, Uganda, Somalia, Tanzania, and Mozambique.

I have followed oil and gas exploration in East Africa for over ten  years. Since 2015 there has been a downturn in the oil and gas sector in East Africa that mirror the global downturn resulting from low oil prices.

A clamor for developed countries to reduce carbon emissions and curb global warming by ending fossil fuels has caused certain international commercial banks to refuse to fund oil and gas development projects. The future is how East African operators find their own funding mechanisms to bring the oil and gas projects into streams.

.The East Africa energy sector saw rapid regulatory and legal framework development to improve investment conditions. And with continued economic growth, the best chance of meeting demand is to enable investment and fast-track near-field developments close to existing infrastructure.

There is significantly increased exploration activity planned in 2024. And I forecast this exploration activity will ram up and extend from 2026 to 2030.

Oil and gas exploration is slowly shifting from West to East within the continent where some of the last great under-explored oil and gas frontiers still exist.

Hussein Boffu runs a consultancy provides business planning, financial forecasts, market research reports, expert analysis and consulting for entrepreneurs and business owners. Reach out to him via email at hussein.boffu@tanzaniapetroleum.com or by calling, texting, or WhatsApp at +255(0)655376543.