Deal day, page-36

2022 Is Turning Out To Be A Banner Year for African Oil & Gas

"After the dramatic post-COVID slowdown in 2020-21, 2022 is turning out to be a banner year for the African oil and gas industry. The industry is set to boom in the second half of this year.

That’s the forecast presented by the forthcoming State of African Energy Q2 2022 Report, to be released by the African Energy Chamber this summer. According to the report, increasing oil and gas activity and a record number of new discoveries have set the stage for significant industry growth in the second half of 2022.

In Namibia alone, for example, two breakthrough discoveries, Shell’s Graff and Total Energies’ Venus-1X, have opened frontier oil play onshore. Industry experts estimate that Venus-1X may hold recoverable resources of some 3 billion barrels of recoverable oil, making it Sub-Saharan Africa’s largest-ever oil discovery.

Namibia, in fact, has led the way in new oil and gas activity this year and is emerging as an exploration hot spot."

www.thenews-chronicle.com/2022-is-turning-out-to-be-a-banner-year-for-african-oil-gas/