"Why Africa Could be the Next Big Oil Investment Destination"

" Why Africa Could be the Next Big Oil Investment Destination \r\n \r\n\r\nAfrica is fast developing as a prevailing player in the global oil market, with 2024 being a watershed moment in the continent's hydrocarbon exploration.\r\n \r\n\r\nAccording to a recent S&P Global report titled \u201c High Impact Wells 2025 \u201d, Africa accounted for 35% of all new oil finds this year, up from 7% in 2023. This rise in finds emphasizes Africa's rising role in the global energy environment.\r\n\r\n \r\n \r\n\r\nOne of the most noticeable features of Africa's oil boom in 2024 is the high level of exploratory activity in frontier and immature basins. A staggering 60% of the New Field Wildcats (NFWs) drilled off Africa were in these underexplored areas, demonstrating the continent's enormous potential.\r\n\r\n \r\n \r\n\r\nThe Southwest African Coastal Basin, notably the Orange Sub-basin, and the Cote d'Ivoire Basin are two of the most important new exploration hot regions.\r\n \r\n\r\n\u201cAmong the 70+ basins where discoveries were made in 2024, three basins accounted for half of the total found resources: the Orange Sub-basin of the wider Southwest African Coastal Basin, the Central Arabian Province, and the Guyana Basin,\u201d the report states.\r\n\r\n \r\n \r\n\r\nThese locations contributed significantly to the finding of over 2.9 billion barrels of oil equivalent (Bboe) in 2024. The sustained performance of these basins establishes Africa as a promising location for oil exploration and investment.\r\n\r\n \r\n \r\n\r\nThe report notes that 2025 is projected to have \u201cmore favorable outcomes than in 2024, when a relatively modest 8.8 billion barrels of oil equivalent (Bboe) was found.\u201d\r\n\r\n \r\n \r\n\r\n\u201cThat\u2019s significantly below the decade annual average of 15.4 Bboe. More than 35 High Impact Wells (HIW) are scheduled globally for 2025, with drilling plans in both immature and frontier basins, as well as mature provinces. Latin America and Africa remain key regions, with significant wells planned in the Guyana Basin and Orange Sub-basin, respectively,\u201d it adds.\r\n\r\n \r\n \r\n \r\n \r\n\r\nThe rise in oil finds across Africa is expected to generate significant economic advantages. As global investment comes into Africa, countries with potential oil deposits should expect improved energy security, infrastructure development, and job creation.\r\n\r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n "

"Why Africa Could be the Next Big Oil Investment Destination"

Why Crude Refuses to Crash Despite Glut PredictionsAMP

Growth Investment Partners Backs Springs and Bolts Company to Expand Automotive Manufacturing in GhanaAMP

Gold Price Hits Another Record With Powell Speech in FocusAMP

Communications Minister Gives More Time to DSTV Pricing Review CommitteeAMP

Nigeria Cuts Interest Rates for the First Time in Five YearsAMP

Ousmane Dembele Wins Ballon d’Or: Every Previous Winner of the Prestigious Award, Including Lionel Messi and Cristiano RonaldoAMP

Ghana’s Housing Crisis: 11.5m Citizens Unable to Afford Homes, Says Housing MinisterAMP

Roughly Only 1 out of 10 Ghanaians can Purchase a House Without AssistanceAMP

Asante Gold Secures TSX Venture Exchange Listing in Move to Boost Investor BaseAMP

Why Crude Refuses to Crash Despite Glut PredictionsAMP

Growth Investment Partners Backs Springs and Bolts Company to Expand Automotive Manufacturing in GhanaAMP

Gold Price Hits Another Record With Powell Speech in FocusAMP

Communications Minister Gives More Time to DSTV Pricing Review CommitteeAMP

Nigeria Cuts Interest Rates for the First Time in Five YearsAMP