Governments must help unblock $180 Bn African upstream spend

摘要

African governments must help with improved fiscal and local content terms if the two thirds of upstream projects in the region that are uneconomical at US $50 oil are to move forward. A new report from Wood Mackenzie "Upstream costs in Sub-Sahara Africa - expectation vs. reality" states that only $90 Bn of $270 Bn of pre-sanction projects in the region are commercial at $50. Deepwater projects account for half of those that currently do not work.