|"Oil & Gas Exploration in Emerging African Markets – Analysis of Exploration & Development Plans of Key Companies", is the latest report from GlobalData, the industry analysis specialist, which analyzes oil and gas exploration in emerging African markets. The report gives information on oil and gas exploration activities in 11 emerging markets in the region. The report covers key sedimentary basins in each region. It also provides information about major exploration blocks in each basin. Information about key regulatory and fiscal regimes for each country is also provided in the report. The report also focuses on major exploration companies in each country. The key drivers and challenges in the oil and gas exploration in emerging African markets is also given in the report. The report is built using the data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData's team of industry experts.
Improving Political Scenario and Infrastructure Developments in Africa Will Encourage Oil and Gas Exploration Activities
Since the early 1990s, efforts from the United Nations and other countries have helped to stabilize political conditions in African countries such as Mozambique and Namibia. Financial and military assistance from global organizations such as the UN and International Bank for Reconstruction and Development (IBRD) has helped to maintain peace in the region. With improving political stability, African countries are witnessing a steady increase in the participation of foreign companies in their upstream sectors. Many foreign companies have formed joint ventures (JVs) with domestic companies for exploration and production activities by providing technological and infrastructural enhancements. ENI, an Italian oil and gas company, is carrying out exploration activities in Ghana and Mozambique in collaboration with the countries' respective National Oil Companies (NOCs).
Emerging Oil Exploration Countries in Africa Have High Potential for Oil and Gas Resources
Offshore Exploration Blocks Account for Around 60% of the Total Exploration Blocks in Emerging African Markets
Foreign Companies Lead the Way for Hydrocarbon Exploration in Africa
The involvement of foreign companies in exploration projects brings in financial assistance and advanced technology. Foreign companies have equity stakes in most of the exploration blocks in Africa. The equity stakes for an exploration block are granted for a limited period. After the term of exploration is over, the companies have to relinquish the blocks. During the exploration period, the government, may or may not have an equity stake in the exploration blocks. In fact, only 30.5% of the total active exploration blocks in Africa have equity stakes owned by NOCs.
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