The energy security shock generated by the Iran conflict should stimulate investment flows to other upstream jurisdictions, prominent among them sub-Saharan Africa. Upstream investments in Africa were already picking up before the start of the conflict due to a number of factors, including new onshore operators and more enticing deal terms by key producers.
“We’ve also seen M&A return to pure exploration-stage assets, which has been paused for a long time,” Bracewell’s Adam Blythe told Energy Intelligence, highlighting a February move by TotalEnergies and Petrobras into Namibia’s offshore Luderwitz Basin.
