The fact that Africa has numerous untapped gas reserves is well-known, but breaking into these markets has presented a challenge for some of the larger oil and gas companies. Some of the more common challenges are associated with legal regulations that are unique to each country as well as the profound cost associated with establishing infrastructure in some of these areas. Recently, Boris Ivanov Gazprom has proudly announced the discovery of a huge Algerian reserve, and it intends to expand its market reach as a result.
Boris Ivanov leads Gazprom and has plans for growth in Portugal and Spain. Up to this point, Boris Ivanov Gazprom has provided as much as 30 percent of the European gas supply, but this has not included Portugal and Spain. The new Algerian well has produced up to 75,000 cubic meters of product per day, which is sufficient for breaking into these markets.
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Algeria is not the only African country that is receiving attention from Boris Ivanov Gazprom. This is a Russian company that is state-controlled, and it is also focusing on tapping into reserves in Nigeria, Namibia and Libya. In fact, it plans to open 18 new wells in the upcoming year. Boris Ivanov Gazprom has successfully found ways to maneuver through the complicated legal structures in these and other African markets. One of the strategies that has been successful for the company thus far is partnering with smaller gas companies that are established in these areas. Some of the firms that Gazprom has partnered with or is positioning itself to partner with are Tullow Oil, Sonatrach, Equinox and Namcor.
The cost of accessing these reserves also must be taken into account. According to Boris Ivanov, Gazprom may spend up to or more than $1 billion for infrastructure related to the Kudu offshore site in Namibia. Nonetheless, the company is moving forward with the projection that this cost will be more than recouped in the future.
Check more about Boris Ivanov Gazprom: https://rogtecmagazine.com/closure-interview-boris-ivanov-general-manager-tde-energy-services-ltd/