Malaysian state oil company Petronas is actively looking at expanding its upstream portfolio in Africa, writes Iain Esau.

Petronas is active in Gabon, Mauritania, Senegal, Gambia, Angola, Sudan and Egypt, but is eyeing opportunities in West and East Africa, said Mohammed Redhani bin Abdul Rahman, the company's head of global exploration and new ventures.

Speaking recently, he said Africa has a lot of onshore and offshore running room, with “9 million square kilometres of (prospective acreage) yet to be licensed” in addition to non-demarcated areas.

Another positive for investment in the continent is “the willingness of governments to listen to the industry as far as fiscal terms are concerned”.

“We will invest a lot in acquiring (multi-client) data in licensing rounds and we are also looking at opportunities to enjoy first mover advantage in new areas.”

Petronas’ Boudji-1 probe was a play-opening discovery off Gabon.

Upstream was told recently that Petronas was scouting opportunities in Guinea-Bissau and Guinea.

It is also said to be interested in the entire West African margin from Morocco to Congo-Brazzaville as well as South, Africa, Mozambique, Madagascar, Tanzania and Kenya.

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Petronas eyes Africa expansion