Nigeria’s annual offshore drilling expenditure to reach $2.26bn by 2016

Offshore drilling expenditure in Nigeria, Africa’s leading oil producer, will hit $2.26 billion in 2016, according to the latest report from GBI Research, a business intelligence firm.
The report which provides forecasts for the offshore drilling industry in the Middle-East and Africa region up to 2016, indicates that Nigeria’s drilling expenditure at $2.26 billion, would be second in the region after Angola, followed by Egypt with total of $1.52 billion.

Angola, Africa’s second largest oil producer is expected to remain the biggest spender in the region by some margin, over the next few years at least. GBI Research expects drilling expenditure in the Southern African country to continue climbing in the near future, hitting $6.67 billion in 2016. Read more

Image culled from:

About Author: Integrity Org

Integrity Organization is committed is an anti-corruption, research and advocacy organization. Its activities are centered on the aim to reduce the tolerance for corruption in Nigeria.

Leave a Reply

Recent Tweets

Like us on Facebook