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