High costs slow exploration pace in small Gulf of Guinea states, but newcomers are optimistic

The high global cost of oil and gas exploration has slowed the pace of work on some of the Gulf of Guinea’s smaller plays, and several blocks secured at the height of industry excitement about the region are now changing hands as the original licensees review their positions. Many of the newcomers are Australians, originally tempted into Africa’s east coast and now looking west. For a number of players,