Africa is likely to experience continued oil and gas investment over the next three to five years as the stabilisation of crude prices above $60/bl, coupled with the continent’s rapidly expanding population, lure oil producers to one of the last remaining energy investment frontiers, Standard Banks affirms. The financial institution noted in a press release issued this week that the string of successful exploration projects over the past decade has seen the number of African countries with proven oil and gas reserves rise to 28, with discoveries in Ghana, Niger, Mozambique, Uganda, Kenya, Senegal, Mauritania and South Africa.
