Top 15 Countries for Oil and Gas Reserves in Africa

Top 15 Countries for Oil and Gas Reserves in Africa – Africa is home to some of the world’s largest oil and gas reserves, with countries like Nigeria, Libya, Angola, and Algeria dominating as top producers on the continent. Oil and gas production is a major economic driver for many African nations, accounting for a large percentage of GDP, exports, and government revenues.Top 15 Countries for Oil and Gas Reserves in Africa

While new discoveries continue to be made, here is an overview of the top 15 countries in Africa by proven oil and gas reserves as of 2023:

The Top 15 Countries for Oil and Gas Reserves in Africa Are:

1. Libya

Proven Oil Reserves: 48.4 billion barrels
Proven Gas Reserves: 54 trillion cubic feet

Libya has Africa’s largest proven oil reserves, with deposits concentrated in the Sirte Basin. Discovered in the 1950s, Libyan oil production expanded significantly under Gaddafi’s regime. The country’s oil and gas sector suffered during the civil war in 2011, but has rebounded in recent years. Key players include Libya’s state-owned National Oil Corporation (NOC), Italy’s ENI, France’s Total, and Repsol of Spain.Informationguidenigeria

Read Also: Top 15 Highest Mountains in Europe

2. Nigeria

Proven Oil Reserves: 37.1 billion barrels
Proven Gas Reserves: 200 trillion cubic feet

Nigeria has the largest oil and gas reserves in Africa and is the continent’s biggest oil producer. The majority of reserves are located in the Niger Delta in the southern part of the country. Nigeria has a well-developed oil and gas industry but struggles with challenges like pipeline vandalism, oil theft, and environmental degradation in the Niger Delta region. Key players include multinationals like Shell, ExxonMobil, Chevron, ENI, and Total.

3. Algeria

Proven Oil Reserves: 12.2 billion barrels
Proven Gas Reserves: 159 trillion cubic feet

Algeria has substantial oil and gas reserves located primarily in the eastern Sahara desert region. Algeria was a founding member of OPEC, and its oil production peaked in the late 1960s. Today Algeria relies heavily on oil and gas exports, which account for around 95% of export earnings. Key players include Algeria’s state-owned Sonatrach along with foreign firms like BP, Shell, and Eni.

4. Angola

Proven Oil Reserves: 8.4 billion barrels
Proven Gas Reserves: 16 trillion cubic feetNYSC Portal

Angola is Sub-Saharan Africa’s second largest oil producer after Nigeria. The majority of Angola’s oil reserves are located offshore in the Congo Basin and offshore Angola. Oil production began in the mid-1950s. After Angola’s 27-year civil war ended in 2002, the country’s petroleum industry expanded rapidly. The main oil company is the China Sonangol International Holding. Other key players include Chevron, ExxonMobil, ENI, Total and BP.

Read Also: The 15 Most Nutrient-Dense Foods on the Planet

5. South Sudan

Proven Oil Reserves: 3.5 billion barrels
Proven Gas Reserves: 3.55 trillion cubic feet

South Sudan is one of Africa’s most oil-dependent countries, with oil accounting for almost the totality of its exports, and around 60% of its GDP. South Sudan holds Sub-Saharan Africa’s third-largest proven reserves. Production takes place in the Muglad and Melut basins. Key operators include the China National Petroleum Corporation (CNPC), India’s ONGC Videsh, and Malaysia’s Petronas.

6. Egypt

Proven Oil Reserves: 4.4 billion barrels
Proven Gas Reserves: 77 trillion cubic feet

Egypt is another North African oil and gas heavyweight. The country is one of Africa’s oldest hydrocarbon producers, with reserves concentrated in the Gulf of Suez, Western Desert, Mediterranean Sea, and the Nile Delta. Egypt is aiming to ramp up oil and gas production through new discoveries like the giant offshore Zohr gas field. Key players are state-owned Egyptian General Petroleum Corporation (EGPC), along with BP, ENI, Royal Dutch Shell, and Apache.

7. Sudan

Proven Oil Reserves: 1.5 billion barrels
Proven Gas Reserves: 3 trillion cubic feet

Sudan has modest oil reserves but relies on oil export revenues to bolster its struggling economy. Most reserves are in the Muglad and Melut basins in the south of the country. China is the biggest investor in Sudan’s oil industry through CNPC and Sinopec. Other key players are UAE’s DXB Energy and Saudi Arabia’s Saudi Aramco.

8. Gabon

Proven Oil Reserves: 2 billion barrels
Proven Gas Reserves: 40 trillion cubic feet

Gabon has been producing oil since the 1960s from both onshore and offshore fields. The country used to be one of Africa’s largest oil producers before maturing fields caused output to decline. Oil is found in the coastal region along the Gulf of Guinea. Gabon re-joined OPEC in 2016 after a 20-year absence. Key players include Perenco, Total, Shell and Vaalco Energy.

Read Also: Top 15 Countries Attracting Global Investors

9. Republic of Congo

Proven Oil Reserves: 1.6 billion barrels
Proven Gas Reserves: 3.5 trillion cubic feetJAMB Result

The Republic of Congo is another Central African oil producer. Most of the country’s oil reserves are offshore near the port city of Pointe-Noire. Congo has predominantly shallow-water oil fields. French company Total is the largest oil producer in Congo, followed by ENI, Perenco and Chevron.

10. Ghana

Proven Oil Reserves: 660 million barrels
Proven Gas Reserves: 6 trillion cubic feet

Ghana is one of Africa’s newest oil producers with production starting in 2010. Ghana’s Jubilee oil field was discovered in 2007 by Tullow Oil and contains an estimated 500 million barrels. Additional developments like the Tweneboa-Enyenra-Ntomme (TEN) field have expanded Ghana’s output. Key producers include Tullow Oil and Kosmos Energy.Romantic Love Messages

11. Chad

Proven Oil Reserves: 1.5 billion barrels
Proven Gas Reserves: 14 trillion cubic feet

Chad began producing oil in 2003 after the development of the Chad-Cameroon pipeline. The country’s oil reserves lie in the Chad Basin around the Doba region. Oil revenues have boosted Chad’s economy but mismanagement has led to increased poverty in recent years. The main consortium operating in Chad is Esso Exploration & Production Chad (Exxon Mobil, Petronas, and Chevron).

12. Equatorial Guinea

Proven Oil Reserves: 1.1 billion barrels
Proven Gas Reserves: 15 trillion cubic feet

Equatorial Guinea is another significant oil and gas producer in Sub-Saharan Africa. It’s the third-largest oil producer in Sub-Saharan Africa after Nigeria and Angola. The majority of reserves are located in the Gulf of Guinea. Key operators include ExxonMobil, Hess Corporation, Marathon Oil and Noble Energy.

Read Also: 15 Amazing Health Benefits of an Alkaline Diet

13. Cote d’Ivoire

Proven Oil Reserves: 100 million barrels
Proven Gas Reserves: 1.5 trillion cubic feetGood morning My Love Message

Cote d’Ivoire’s oil production began in the 1980s and gas production in the 1990s. The country possesses modest reserves but there are hopes that recent deepwater discoveries could substantially boost reserves. The Espoir field is the mainstay of production. Key players are Canadian Natural Resources, Total, Eni and Anadarko Petroleum.

14. Democratic Republic of Congo

Proven Oil Reserves: 180 million barrels
Proven Gas Reserves: 999 billion cubic feet

The Democratic Republic of Congo has undeveloped hydrocarbon reserves, with limited oil production and no gas production at present. Most reserves are located along the country’s short Atlantic coastline. Promising offshore gas fields have been discovered, indicating large undiscovered resources. Key players include French oil company Total and London-based Tullow Oil.

15. Kenya

Proven Oil Reserves: 100 million barrels
Proven Gas Reserves: 7 trillion cubic feet

Kenya has emerging status as an oil and gas producer following discoveries in the South Lokichar Basin. Full field development is still pending but production could start in 2024. Discoveries contain estimated reserves of 750 million barrels. Leading operators are Tullow Oil and Africa Oil Corp.

Read Also: 15 Proven Health Benefits of Dark Chocolate

Conclusion

In summary, Africa is tremendously endowed with oil and gas reserves even though resources are not evenly distributed across the continent. The top reserve holders are well established names like Nigeria and Libya but emerging producers like Ghana, Kenya and South Sudan illustrate Africa’s untapped hydrocarbon potential. With new technologies allowing deeper water and more challenging locations to be developed, Africa’s oil and gas reserves are only expected to grow.

Check JAMB Result

Check and Confirm: How much is Dollar to Naira

📢 We are hiring writers!