At Risk: Oil and Gas Boom across East Africa
The discovery of significant commercial oil and natural gas reserves in Kenya, Uganda, Tanzania and Mozambique has ignited the interest of both international oil companies (IOCs) and national oil companies (NOCs).
Based on analysis of ongoing developments and well results, GlobalData estimates Uganda and Kenya have commercial recoverable reserves of one billion barrels of crude oil and Tanzania and Mozambique to have 130 trillion cubic feet of natural gas.
This resource potential offers East Africans a reason to be upbeat about potential economic growth over the next half-century, but significant challenges remain.
Establishing a competitive business environment governed by a stable and robust regulatory framework that encourages and protects foreign investment will be necessary.
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