The Oil and Gas Industry in East Africa and Expats

The offshore gas and oil discoveries in East Africa could be a major boom for the economy in this area and can potentially attract a sizeable number of professional expats to work there.

Data from the African Development Bank show that East African countries could grow by 5.8 in 2014, which is above the 4.8 average for Africa. This is partly due to the energy resources available. Casey Research estimates that the oil production in the area could be several times bigger than in the North Sea. It is important to remember here that Africa's natural resources still remain largely under-exploited or unexploited.

Given the situation, there is little wonder as to why the region has emerged as a hot spot, and has gained the attention of the world's largest energy companies. The Here are five things you should know about the gas and oil discoveries in that area.

1. The discoveries are mostly offshore, located on Ghana, Mozambique, Uganda and Tanzania, with great interest in Kenya and Madagascar too. 
2. Lake Tanganyka is also being prospected.
3. Financial prosperity is not yet assured. African countries have a track record of not being able to convert their oil resources into financial gains.
4. Their proximity to Asian markets may be of great importance, as it is easier for these countries to export to Asia than it is to other areas.
5. There are opportunities for other industries, such as transport and services. Workers will expect to have facilities such as accommodation, access to adequate healthcare, shops, etc.

Are you thinking about relocating to this East Africa? If so, you need to make sure that you are covered, in case of any health issue. The quality of appropriate healthcare conditions in East African countries may not be what most expats may be used to find in their home countries.

Thanks for reading.

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