Africa requires investment to meet gas demand
Africa requires an estimated $375 billion over the next 10–12 years to fund upstream and midstream gas development, according to the Society of Petroleum Engineers (SPE).
Speaking at the MSGBC Oil, Gas & Power 2025 conference, Dr Riverson Oppong, SPE Africa Director, emphasised that the continent can attract increased investment through integrated national gas master plans, bankable contracts, robust infrastructure, and strengthened institutional capacity.
Despite holding 8 per cent of global gas reserves, Africa currently underperforms on the global stage due to policy gaps, commercial frameworks, infrastructure deficits, and financing constraints.
Dr Rose Ndong, Dakar Section Chair of SPE, noted that fostering technical discussions among oil and gas stakeholders across Africa is crucial to addressing these challenges.
Global technology firm SLB highlighted the role of digital technologies, including IoT, analytics, and AI, in improving exploration, drilling, production efficiency, and supply chain resilience.
Larry Velasco, SLB Africa New Venture Manager, emphasised that poor-quality data can cost companies 15–25 per cent of revenue, underlining the importance of accurate, real-time monitoring and predictive analytics for safety, environmental compliance, and operational decision-making.
SLB projects oil and gas demand in Africa will grow by roughly 20 per cent by 2050, supported by recent discoveries, including 17 high-impact wells completed in 2025.
Paul Freeman, SLB Global Exploration Advisor, stressed that rising energy demand requires rapid investment deployment to offset production declines and meet peak demand.
Overall, Africa’s gas potential remains significant, but realising it will require coordinated investment, policy reform, technological adoption, and infrastructure development.
By addressing these constraints, the continent can strengthen its upstream and midstream capacity, improve operational efficiency, and secure a larger share of the global gas market while supporting sustainable economic growth.