Africa Oil And Gas Market: Market Size & Forecast 2026

The oil and gas market in Africa and the broader Middle East and Africa region spans upstream exploration, midstream transportation and storage, and downstream refining activities. The market reached approximately $11.1 billion in 2025 and is expected to reach $16.87 billion by 2031. The overall African oil and gas market encompasses a wider range of activities valued at approximately $50.3 billion in 2025, reflecting the continent's substantial hydrocarbon reserves and production capacity across established and emerging basins.

Several factors are fueling expansion across the Africa oil and gas market, including rising energy demand, infrastructure development, and security investments. The LNG segment is experiencing particularly strong growth at an 11.2% CAGR, driven by global demand for cleaner-burning fuels and new terminal developments. Security and service requirements are also expanding as operators seek to protect increasingly complex pipeline and facility networks across volatile regions.

The market varies significantly across regions, with North Africa's established oil-producing nations and West Africa's major crude exporters forming the core of continental production. East Africa represents an emerging segment with a market size of approximately $88.2 million in 2025, developing more slowly at a 2.62% CAGR through 2035. The midstream infrastructure segment shows the strongest growth trajectory across the broader MEA region at 7.07% CAGR.

What are the recent trends and outlook?

The market is expected to maintain steady growth through 2031, driven by infrastructure investments and evolving global energy demand patterns. LNG expansion and midstream capacity development represent the most significant near-term opportunities across the region, with the LNG segment growing substantially faster than the overall market at 11.2% CAGR. Security spending will continue to rise as operators balance production goals with risk management across diverse operating environments.

Named companies and quantified developments shaping the Africa Oil And Gas Market market.

• •Nigerian National Petroleum Company Ltd - The Nigerian National Petroleum Company Ltd secured a USD 5 billion commitment in 2022.