Angolan overhaul: The Kaombo Sul facility scheduled to come on line in 2019 will help offset declining fields
Africa is back on the deep-water agenda
Drillers are starting to renew interest in African projects deemed too costly and risky
Confidence in the sub-Saharan African offshore sector has been boosted by the increasing availability of relatively low-cost floating production, storage and offloading (FPSO) and floating liquefied natural gas (FLNG) facilities. While the industry's successful efforts to cut operating costs during the recent downturn have also helped make African deep-water look a more attractive option. Both Nigeria and Angola, Africa's largest oil producers, are now having at least a modicum of success in revitalising the hydrocarbons sector after several lean years. Shell said in late July it hoped to finalise talks with Nigeria soon on a framework to expand its Bonga deep-water oil field, preparing the
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US LNG exporter Cheniere Energy has grown its business rapidly since exporting its first cargo a decade ago. But Chief Commercial Officer Anatol Feygin tells Petroleum Economist that, as in the past, the company’s future expansion plans are anchored by high levels of contracted offtake, supporting predictable returns on investment
