If a new upstream project is not approved after the completion of the Egina Floating Production Storage Offloading vessel, ship repair and fabrication yards worth over U.S.$1.3 billion may remain idle, with about 20,000 workers risking job loss. More than 10,000 jobs may also be affected, if the Final Investment Decision on the Zabazaba deep water project is delayed beyond the second quarter of 2018.
The Guardian learnt that uncertainty over fiscal terms in the Petroleum Industry Governance Bill and low oil prices contributed to the delay in FID by investors.
...
AllAfrica Subscription Content
You must be an allAfrica.com subscriber for full access to certain content.
You have selected an article from the AllAfrica archive, which requires a subscription. You can subscribe by visiting our subscription page. Or for more information about becoming a subscriber, you can read our subscription and contribution overview.
For information about our premium subscription services:
You can also freely access - without a subscription - hundreds of today's top Africa stories and thousands of recent news articles from our home page »
Already a subscriber? Sign in for full access to article