East Africa Oil and Gas Market Size (2024 - 2029)

The East African oil and gas market is anticipated to experience growth over the forecast period, driven by increasing demand and production in the region. Despite challenges such as political instability in countries like South Sudan and Somalia, the market is expected to recover to pre-pandemic levels. Investment in exploration and production activities is projected to create significant opportunities, particularly in South Sudan, where offshore gas field developments are rapidly advancing.

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Market Size of East Africa Oil and Gas Industry

East Africa Oil And Gas Market Summary
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

East Africa Oil And Gas Market Major Players

*Disclaimer: Major Players sorted in no particular order

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.

East Africa Oil and Gas Industry Segmentation

The oil and gas industry is all about finding, developing, drilling, producing, gathering, refining, shipping, and distributing hydrocarbons.

The East African Oil and Gas Market is divided into sectors, places where development is taking place, and geographical areas. By sector, the market is segmented into upstream, midstream, and downstream. By location of the development, the market is segmented into onshore and offshore. The report also covers the market size and forecasts for the East African Oil and Gas Market across major countries in the region. For each segment, the market sizing and forecasts have been done based on oil and gas production (units).

Sector
Upstream
Midstream
Downstream
Location of Development
Onshore
Offshore
Geography
Mozambique
Tanzania
South Sudan
Kenya
Rest of East Africa
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East Africa Oil and Gas Market Size Summary

The East African oil and gas market is poised for growth over the next several years, driven by increasing demand and production of oil and natural gas in the region. Despite challenges such as political instability in countries like South Sudan and Somalia, the market is expected to recover to pre-pandemic levels and continue expanding. Investment in exploration and production activities is anticipated to create significant opportunities, particularly in South Sudan, which is expected to experience substantial growth due to its burgeoning offshore gas field developments. The midstream sector is also set to benefit from increased oil consumption and investment, with key projects like the African Renaissance Pipeline and the East African Crude Pipeline playing a crucial role in enhancing regional trade and energy cost savings.

The market landscape is characterized by a consolidated structure with major players such as the Sudan National Petroleum Corporation, China National Petroleum Corporation, Shell PLC, Equinor ASA, and Tullow Oil PLC actively participating. South Sudan stands out as a leading oil producer in the region, with significant reserves and ongoing efforts to attract foreign investment through licensing rounds. The country's oil and gas industry is expected to see considerable growth, particularly in the midstream sector, as investments increase and gas production rises. These developments, coupled with strategic initiatives like the construction of new pipelines and the resumption of production in previously shut-down fields, underscore the dynamic nature of the East African oil and gas market.

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East Africa Oil and Gas Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Crude Oil Production and Forecast in thousand barrels per day, till 2028

    3. 1.3 Natural Gas Production and Forecast in million-ton oil equivalent, till 2028

    4. 1.4 Recent Trends and Developments

    5. 1.5 Government Policies and Regulations

    6. 1.6 Market Dynamics

      1. 1.6.1 Drivers

      2. 1.6.2 Restraints

    7. 1.7 Supply Chain Analysis

    8. 1.8 PESTLE ANALYSIS

  2. 2. MARKET SEGMENTATION

    1. 2.1 Sector

      1. 2.1.1 Upstream

      2. 2.1.2 Midstream

      3. 2.1.3 Downstream

    2. 2.2 Location of Development

      1. 2.2.1 Onshore

      2. 2.2.2 Offshore

    3. 2.3 Geography

      1. 2.3.1 Mozambique

      2. 2.3.2 Tanzania

      3. 2.3.3 South Sudan

      4. 2.3.4 Kenya

      5. 2.3.5 Rest of East Africa

East Africa Oil and Gas Market Size FAQs

The East Africa Oil and Gas Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)

China National Petroleum Corporation, Sudan National Petroleum Corporation, Equinor ASA, Tullow Oil plc and Shell PLC are the major companies operating in the East Africa Oil and Gas Market.

East Africa Oil and Gas Market Report Snapshots

East Africa Oil and Gas Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)