The European/American independent E&P company has become an endangered species in Africa.
This type of company is either farming down from transformational projects, being swallowed a whole or leaving the continent on its own volition.
Occidental’s ongoing purchase of Anadarko, the most aggressive independent explorer on the continent, comes with a parallel transaction: all of Anadarko’s assets in Africa (Algeria, Ghana, Mozambique, South Africa) would be taken over by TOTAL, the French major. This is happening at a time that TOTAL and CNOOC are finalizing their purchase of two thirds of Tullow’s equity in Uganda and three years after Shell bought over BG, a British independent with significant presence in Egypt and Tunisia.
In the last five years, Afren has gone bankrupt, ConocoPhillips has left Africa. Ophir Energy has sold itself to Medco Energi, the Indonesian Oil and Gas Company and Marathon has considerably wound down.
There are exceptions to this trend, of course. But how striking are those outliers?
Find out in Africa Oil+Gas Report’s 2019 edition of Independents’ Day, the magazine’s once-a -year review of activities of foreign independent companies operating in Africa. It is our May 2019 edition.
Our job is much more than presenting the general picture. It is to ensure that wherever you are on the planet, you get such a grasp of deal flow, operational plans, and short to mid-term strategies that provide you enough understanding of what’s going on about Africa’s hydrocarbon resources to make a profitable investment.
Published by the Festac News Press Limited since November 2001, AOGR is a paid subscription based monthly, hardcopy and pdf (e-copy) publication delivered around the world. Its website remains www.africaoilgasreport.com and the contact email address is email@example.com . Contact telephone numbers in our West African regional headquarters in Lagos are +2348130733523, +2347062420127, +2348036525979 and +2348023902519.