08 Mar 2011
Africa will likely pass North America and become the 3rd largest oil producer, after the Middle East and Central/Eastern Europe. (PwC) Africa will account for 20% of world oil and gas production in 2020. Hence the recent scramble Background for Africa's oil and gas real estate. Recent discoveries of oil and gas reserves in Uganda and Ghana, will likely lead to a flurry of exploration activity in Africa South Africa has declining gas resources and no proven hydro carbons.