Market Size of Sudan Oil and Gas Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | < 1.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Sudan Oil and Gas Market Analysis
Sudan oil and gas market is projected to register a CAGR of over 1.5% during the forecast period.
The market was negatively impacted by COVID-19. Presently the market has now reached pre-pandemic levels.
- Over the medium term, investment in the oil and gas market is expected to be the main driver in the forecast period. The increase in growth is expected to be majorly in the downstream and midstream sector.
- On the other hand, the production level of the oil fields is reducing in the 2015 - 2021 period, and it is expected to decrease further in the forecast period and thereby impede growth in the market.
- Nevertheless, the country is trying to increase production through the use of enhanced oil recovery (EOR) to increase the production, any breakthrough in the increase in output can become an opportunity for the companies in the market
