Market Size of East Africa Oil and Gas Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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East Africa Oil and Gas Market Analysis
During the time frame of the forecast, the East African Oil and Gas Market is expected to register a CAGR of more than 3%.
In 2020, COVID-19 negatively impacted the market. Presently, the market is likely to reach pre-pandemic levels.
- Over the next five to ten years, the market is likely to grow because of rising demand and production of oil and natural gas in the region.
- On the other hand, political instability due to civil war in countries in East Africa, like South Sudan and Somalia, is expected to hamper the East Africa Oil and Gas Market's growth during the forecast period.
- Nevertheless, oil and gas companies are expected to invest in the exploration and production of East Africa's oil and gas fields, likely creating lucrative growth opportunities for the East African oil and gas market in the forecast period.
- South Sudan is expected to grow a lot and is likely to record a high CAGR during the time frame of the forecast. This growth is due to the fact that exploration and production of offshore gas fields in the area are growing quickly.
