In Africa, Eni SpA, Sonatrach SPA, and Nigerian National Petroleum Corporation (NNPC) are the top spenders in terms of new build capex to be spent on planned and announced projects across the oil and gas value chain by 2025, according to GlobalData, a leading data and analytics company.
The company’s latest report, ‘Top Oil and Gas Companies Planned Projects and Capital Expenditure Outlook in Africa – Eni, Sonatrach, and Nigerian National Petroleum Lead in Oil and Gas Capex’, reveals that Eni SpA tops the list with estimated capex of US$26.8bn expected to be spent on 20 oil and gas projects by 2025 closely followed by Sonatrach SPA and NNPC with US$26.6 billion (30 projects) and US$26.4 billion (24 projects), respectively.
In the upstream sector, Shell leads with an estimated capex of US$20.9 billion to be spent on eight planned and announced upstream projects. Exxon Mobil Corp and Eni SpA follow with US$15.3 billion each who are expected to spend capex on 11 and 14 projects, respectively.
Within the midstream sector, NNPC is expected to lead capex spending with US$21.1 billion to bring 13 planned and announced oil and gas pipeline projects online by 2025. BP Plc leads in the gas processing segment, with estimated capex spending of US$1.8 billion on two new projects.
On the downstream side, Sonangol EP leads again with an estimated capex of US$16.9 billion on the development of four crude oil refineries by 2025. Ode-Aye Refinery Ltd. and CEF (SOC) Ltd follow with capex of US$16 billion and US$10.2 billion respectively, for two new projects each.
Raj Shekhar, Oil and Gas Analyst at GlobalData, comments: “On the LNG liquefaction front, Exxon Mobil is expected to spend estimated capex of US$6.8 billion on two upcoming liquefaction terminals by 2025. Mitsui & Co Ltd leads in regasification capex, with US$395.3 million to be spent on two upcoming regasification terminals.”
In the liquids storage segment, Sonangol EP leads with an estimated capex of US$325.5 million to be spent on a planned liquids storage terminal by 2025.
Together with the petrochemical sector, Carbon Holdings Ltd is expected to lead with estimated capex of US$9.6 billion to be spent on 10 upcoming petrochemical plants, followed by Dangote Group with an approximate capex of US$6.7 billion expected to be spent on 10 new projects. Indorama Ventures PCL, is in third position with US$4.7 billion expected to be spent on three upcoming projects.