Nigeria, 7 others Set for Oil, Gas Boom — PwC Report

Nigeria and 7 other African oil producing countries could experience a boom in the coming years, with Mozambique and Tanzania set to emerge as new frontiers, if they can attract enough investment, a report by PriceWaterhouseCoopers (PwC) has stated.
The report also stated that 6 of the top 10 global discoveries in 2013 were made in Africa, with more than 500 companies now exploring across the continent. Large gas finds in Mozambique and Tanzania would make the world- “take note of East Africa as an emerging player in the global industry,” said the report’s advisory leader, Mr. Chris Bredenhann. It further stated that the boom has brought investment opportunities, despite the lingering challenges of corruption, lack of infrastructure and regulation, as transactions worth some US$1 billion (760million euros) occurred every 17 days in Africa’s oil and gas sector last year. 

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