It’s hard to believe but I am closing in on almost 20 years in O&G. When I started out, the African O&G world was different. Ressource holding countries went with the market. When prices were very high, their local system cost component grew. When markets crashed, they cut out structures and tried to attract new investment. That see-saw is gone now. Governments have pretty constant high expectations. And many companies have better options now.
Corporate carbon goals and local regulatory regimes will determine whether the region’s deepwater sector can attract renewed interest from investors