Africas well intervention market is expected to reach $1.49 billion, up from $0.85 billion in 2013, at a CAGR of 11.9%. Africa is home to some of the fastest growing economies. Most of them were encouraged by new discoveries of oil and gas. According to EIA, 16 of the 54 countries in Africa are oil exporters. Africas potential impact on the global oil and gas market remains exceedingly positive, with ongoing drilling activity in the East and West Africa. Offshore oil and gas in Africa is produced by over 12 countries, predominantly in the Gulf of Guinea.
The Gulf is a significant producer of oil and gas, and is now attracting a significant amount of foreign direct investment targeted at Africas oil and gas sector. East Africa remains one of the worlds poorest and least developed regions. The development of the oil and gas sector can provide a major boost to local economies, but only with extensive upgrading of existing infrastructure.
Governments across the region are already looking at harnessing the power of the industry to benefit their people. At the same time, oil and gas companies are also focusing their efforts on the development of local content and capacity. The arrival of the international oil and gas industry offers hope of a better life for millions.
The report provides comprehensive analysis of potential offshore reserves and production data, followed by a thorough evaluation of the well intervention market segment by region, major countries and key company information. The report also provides a section on the competitive landscape, detailing recent deal analysis and key company information with their financials, business description and analyst view.