Oil and gas companies need to get strategising
The lower oil price may hurt exploration activity on the African continent as oil and gas explorers revisit their budgets and decide where to allocate their limited capital spend, PwC said i n a new report. Africa has seen substantial successes in the exploration for hydrocarbons over the last decade, including the entry of new country players, mainly in East Africa. In 2013 alone, six of the top 10 global discoveries by size were made on the continent. Oil and gas companies now need to plan for the upturn that is sure to follow to ensure that the potential boom does not go bust, PwC said.