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African Offshore Studies
An introduction to the magnitude, structure
and workings of the oil and gas industry
in West Africa
Offshore Center Danmark continues the
collaboration with the Industrialization
Fund for the Developing Countries with an
objective of helping the Danish investors
fi nding new potential growth markets. A
seminar was held in February 2007 with focus
on Angola after a detailed investigation
of the Angolan oil and gas industry.
Proven oil reserves in Angola have tripled in
the last seven years and comprise 8.0 billion
barrels as of January 2007. The majority of
the reserves are located in Angola’s offshore
blocks. Angola is sub-Saharan Africa’s second
largest oil producer behind Nigeria.
Oil production in 2006 averaged 1.4 million
bbl/d and will reach 2 million bbl/d by 2008,
when new deep-water production sites are
expected to coming online.
The Study has also presented a brief introduction
to the magnitude, structure and
workings of the Angolan oil and gas industry,
a market analysis in relation to offshore
services in Angola and an identifi cation of
relevant gaps in the market. The practical
matters, like setting up the business in
Angola, local partner requirement, investment
possibilities have also been described along
with the political and economical overviews.
A corresponding study is currently being
made for another West African oil producer
Canary islands
(Spain) Morocco
Western
Sahara
Senegal
The Gambia
Guinea Bissau
Maurtana
Africa
Mali
Algeria
Burkina Fan
Guinea
Sierra Leone
Liberia
Cote d´ilvoire Ghana
Togo
Benin
Camereroon
Equatorial Guinea
Garbon
Rep. of the Congo
– Nigeria. Nigeria had 36.2 billion barrels
of proven oil reserves as of January 2007.
The Nigerian government plans to expand
its proven reserves to 40 billion barrels by
2010. Nigeria is the largest oil producer
in Africa, the eleventh largest producer of
crude oil in the world. Both Angola and
Nigeria are members of the Organization of
Petroleum Exporting Countries (OPEC). In
2006, total Nigerian oil production, including
lease condensates, natural gas liquids
and refi nery gain, averaged 2.45 million
bbl/d (of which 2.28 million bbl/d was crude
oil).
Tunisia
Niger
Nigeria
Lbya
Chad
Central
African Rep
Egypt
Sudan
Ethiopia
Uganda Kenya
Namibia Zimbabwe
Botswana
South
Africa
Swazland
Lesotho
Eritrea
Djibauti
Somalia
Dom. Rep.
Rwanda
of the Congo
Burundi
Tanzania
Seychelles
Malawi
Angola
Mozambique
Zambia
MAdagascar
The study was completed in 2007, and the
results will be presented at the beginning
of 2008. Both studies are conducted with a
purpose to encourage Danish offshore companies
in fi nding their way to these promising
markets. Further studies of the other
African countries are planned to follow. ■
Offshore activities in Angola are expected
to boom in the near future.
Offshore Center Danmark
Yearbook 2008
69