Africa's Oil and Gas Boom: Nigeria Leads Surge in Offshore Production

Africa's oil and gas production is set for significant growth over the next decade, with Nigeria leading the way. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) expects to see the start of 22 major offshore oil and gas projects between now and 2030, with investment potential of US$30-50 billion.

According to Industrial Info Resources, which is tracking over 800 active capital oil and gas production, pipeline, and terminal projects in Africa, the total investment value exceeds US$221 billion. This growth is a response to geopolitical turmoil and a desire for energy security among African nations.

Nigeria has already approved over US$57 billion in field development plans since 2024, with some projects translating to final investment decisions. Shell's Bonga/Southwest/Aparo complex, expected to produce 150,000 bpd of crude oil upon completion, is a key deepwater development.

TotalEnergies has restarted construction on its 12.9 million-tonne-per-annum (MTPA) Mozambique LNG project, which is slated for completion in 2030. Exxon Mobil Corporation is also targeting a final investment decision on the 18-MTPA Rovuma LNG project during 2026.