Africa will require an estimated $375 billion over the next decade to fully develop its upstream and midstream natural gas sector, according to new projections presented by the Society of Petroleum Engineers (SPE) at the MSGBC Oil, Gas & Power 2025 conference in Senegal. With 17 high-impact wells completed this year alone, industry leaders warn that a major wave of investment is critical to meet rising natural gas demand and secure Africa’s role in the global energy market.
Dr. Riverson Oppong, Africa Director at SPE, noted that despite holding 8% of global gas reserves, the continent remains underrepresented on the world stage. He attributed this gap to persistent challenges around policy consistency, commercial frameworks, infrastructure deficits and financing conditions.
“Africa is a gas market,” Dr. Oppong said. “However, our participation globally is limited because of policy and infrastructure constraints. Strengthening our national gas master plans, improving contractual frameworks, and building institutional capacity will be essential to attract long-term capital.”
Dr. Rose Ndong, Chair of the SPE Dakar Section, emphasized that the MSGBC gathering aims to encourage deeper collaboration between industry players across Senegal and the wider continent, driving knowledge sharing and technical innovation.
Global technology company SLB highlighted digitalisation as one of the strongest levers for accelerating Africa’s upstream transformation. The company noted that investments in IoT, advanced analytics and artificial intelligence can significantly enhance exploration, drilling efficiency, production optimization and supply-chain resilience.
“Data is a key focus area for improving Africa’s upstream value chain,” said Larry Velasco, Africa New Venture Manager at SLB. “Poor data can cost companies up to 15–25% of revenue, underscoring the need for digital investment.”
SLB also projected that global oil and natural gas demand could grow by around 20% by 2050, driven partly by new African discoveries made in 2025. The completion of 17 high-impact wells this year signals ongoing momentum but also highlights the urgent need for sustained capital influx.
“Energy demand is rising rapidly, and Africa’s oil and gas industry requires fast-tracked investment to offset production declines and meet peak demand,” added Paul Freeman, Global Exploration Advisor at SLB.
As Africa positions itself for a more significant role in the global gas landscape, industry experts say strengthening policy clarity, unlocking financing and accelerating digital adoption will be crucial in driving sustainable growth.
