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Working Paper 114 - Additionality of Development Finance Institutions (DFIs) in Upstream Oil and Gas in Africa
The group of African oil producing countries is projected to grow by three by 2011 when Ghana, Niger and Uganda are all expected to be newly onstream. Ghana’s offshore Jubilee Field may even be operational and pumping commercial volumes of crude oil by the end of 2010.
This growth is emblematic of a broader trend across the continent which is elevating Africa’s profile as an oil and gas producing region (African Development Bank, 2007: 58‐63; Valdmanis, 2009). Discoveries of commercially viable offshore and onshore oil and gas deposits are piling up in countries not traditionally associated with oil and gas production. In addition to the three new producers expected in 2011, another cohort of new oil producers is expected to come onstream by 2015 (see Table A2). Companies operating in Kenya, Liberia, Mozambique, Sao Tome and Principe, Sierra Leone, Somalia and Tanzania, for example, are all in the advanced stages of exploration.