Energy Global: Oil and gas in North Africa

The Energy Exchange and the World Refining Association have released a report containing the findings of a recent survey, which was carried out to better understand oil and gas operations in North Africa. Below are some of the key findings.

Operating locations and concerns: 65% of respondents are already active in Algeria. Morocco’s potential is thought to be on the up due to multiple factors such as 35% corporate tax and an estimated net value of US$ 14 – 15 /bbl for an oil discovery.

83% of respondents said that the main challenge for exploration and production projects is security and the political environment. Lack of a skilled domestic workforce and unclear regulatory frameworks were top concerns for oil and gas companies operating in West Africa, but less than 40% of respondents mentioned them.

The lack of equipment, stakeholder engagement, environmental risks and finding the right partner were the lowest worries at 3%, 4%, 11% and 11% of respondents mentioning each, respectively.
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