African Energy Chamber calls for better fiscal terms, incentives to encourage oil exploration
The African Energy Chamber has called for sustained fiscal reforms to attract capital and technology into exploration in the continent.
According to the report, in 2020, hundreds of blocks and acreages will be up for grab across Africa, from Senegal to Nigeria to Somalia. Competition will be fierce to attract capital from a diversifying basket of explorers now coming from North America, Europe, Russia, China, India, South East Asia and the Middle East.