Nigeria Positioned to Dominate Africa’s $41 Billion Oil and Gas Investment Wave in 2026
Africa is preparing to dominate global high-impact oil and gas exploration in 2026, with Nigeria emerging as the continent’s undisputed powerhouse, set to contribute approximately $41 billion to a projected $504 billion in worldwide Exploration and Production capital expenditure.
According to Rystad Energy’s latest analysis, Nigeria’s investment surge will be driven by aggressive offshore development in the Niger Delta and deepwater prospects. Africa will account for roughly 40% of the 42 planned high-impact exploration wells worldwide this year, with the continent’s oil and gas production expected to reach 11.4 million barrels of oil equivalent per day by 2026.
Nigeria sits on the largest volume of remaining recoverable resources on the continent, primarily concentrated in the Niger Delta region. Activity will concentrate along the Atlantic margin, particularly in the Orange Basin offshore southern Africa and across the Gulf of Guinea in West Africa, with ultra-deepwater prospects representing about 60% of planned high-impact wells. Major international oil companies are expected to lead drilling activity, followed by national oil companies. Discovery success rates have already climbed impressively to 38% in 2025 from just 23% in 2024, with total discovered volumes jumping 53% year-on-year to approximately 2.3 billion barrels of oil equivalent.
The report underscores Africa’s role as a key growth engine for global exploration, with geological potential and scale remaining highly attractive in a tightening global supply environment. Investment flows are being driven by spending in offshore prospects across Nigeria, Mozambique, and Angola, reinforcing the continent’s strategic importance to international energy markets and energy security planning.
Source: orientalnewsng.com
