Market Size of East Africa Oil and Gas Upstream Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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East Africa Oil and Gas Upstream Market Analysis
East Africa's oil and gas upstream market is expected to record a CAGR of more than 3% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Currently, the market has reached pre-pandemic levels.
- Over the medium term, increasing production and consumption of oil and gas in the region are expected to boost East Africa's oil and gas upstream market during the forecast period.
- On the other hand, instability in East African countries like South Sudan and Somalia may impede growth in the oil and gas sector in the region.
- However, an increasing number of exploration projects across the region are expected to act as an opportunity for the market players.
- Kenya is expected to dominate the market during the forecast period due to the rising investment in the oil industry.
