With growing effects from the global energy crisis and countries planning to wean off Russian supplies, African oil and gas assets have once again become hot property as the world hunts for profitable projects.
Bracewell’s Jason Fox tells Investors’ Chronicle that this revved up interest comes after majors spent years backing away from countries in Africa.
“We’ve seen a lot of the international majors and supermajors looking to step out or reduce their activities in certain African jurisdictions where the issues of doing business legally and reputationally are difficult for them,” said Fox.
More companies are now operating in West Africa, which has been a hive of activity recently.
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