2. Still many large, untapped reserves across the continent,
making many African nations an attractive prospect for oil
& gas professionals.
• Over 8 million barrels of crude oil per day
• 10% of the world’s top producers of oil are African
nations
• 200 billion cubic metres of gas annually
Where are the Biggest Opportunities?
3.
4. Opportunities in Oil
Nigeria - Enormous opportunity
• The biggest producer of oil in African
• Currently producing 787,000 barrels of oil per day (3x more
than the UK)
• An increase of almost 10% in the last 5 years
• 2nd largest reserve of 37.1 billion barrels
5. Opportunities in Oil
Algeria
• Production down 10.4% over past 5 years
• Still producing 1.4 million barrels per day (3rd highest in Africa)
• 12.2 billion barrels in proven reserves
Angola
• Production down 6.7% over 5 years
• But still producing 1.7 million barrels per day
• Over 9billion barrels in reserves
7. Opportunities in Oil
Ghana- an up and coming destination
• Greatest increase in output over 5 years from 6,000 to 100,000
barrels per day
• Over 660 million barrels in proven reserves
• Healthy foreign investment
• Relatively stable country, with good administration
infrastructure
9. Opportunities in Gas
Top 5 producers are Algeria, Egypt, Nigeria, Libya & Equatorial
Guinea
• All rank in World’s top 50 producers
• Producing 190 billion cubic metres of gas between them annually
• Rapid advances in natural gas industry likely to boost demand for
specialist international contractors
Nigeria- Huge potential to increase output
• 27th global producer
• 33.7 billion cubic metres produced in 2013
• 9th largest global reserves of 5.13 trillion cubic metres
10. Opportunities in Gas
Mozambique – great potential for gas professionals
• Not currently ranked in top 5 African producers of natural gas
• But recent new discoveries place it 3rd in terms of reserves
• Rapidly increasing its capacity
• Large investment in infrastructure – 43% increase in Foreign
Direct Investment during 2013
• Development of off shore Rovuma Basin
12. Opportunities in Gas
Tanzania
• Not currently ranked in top 10 African producers of natural gas
• However – new discoveries and heavy investment make it a
promising location
Libya
• Internal turmoil has decreased its appeal, however production
and reserves remain high
• 12 billion cubic metres in 2013 (37th largest producer in the
world)
• 1.56 trillion cubic metres in reserves
13. Summary
While fluctuating oil prices, political difficulties and the
recent Ebola crisis have resulted in some challenging
times for the oil and gas industries across Africa, there
are plenty of reasons to be optimistic.
Industry advances can be rapid and many nations are
experiencing a boom.
For experienced oil & gas professionals many African
nations can offer unprecedented opportunity and Procorre
remain on hand to assist consultants in finding the right
project and help mobilise them internationally.
14. Read our full White Paper on the Oil &
Gas industry in Africa and other reports at
procorre.com