This article highlights the top oil-producing countries in Africa.
NIGERIA: Nigeria holds the top spot on the leading oil producers list in Africa. Nigeria whose oil reserves stand at 37 billion barrels is among the top 10 largest oil producer in the world. Nigeria generates over 2.5 million barrels of oil on a daily basis. Nigeria has a total of 159 oil fields and 1481 wells in operation according to the Department of Petroleum Resources.
Some of the largest global oil companies operating in Nigeria but regulated by the state-owned Nigerian National Petroleum Corporation (NNPC) are; Exxon Mobil, Chevron, Statoil, Shell, Agip, Petrobras and Total etc.
ANGOLA: Angola is recognised as the second-largest oil-producing country in Africa. Angola produces over 1.80 million barrels of oil daily which represents an estimated 88.7 million tonnes yearly. Angola is said to have profuse offshore and deep-water oil reserves in the South Atlantic.
Some of the largest global oil companies operating in Angola include Total E & P, Esso Exploration and Production, Force Petroleum, Falcon Oil Holding SA and Cabinda Gulf Oil Company Limited.
ALGERIA: Algeriaremains one of the top tier oil producers in Africa with a production of about 1.6 million barrels of oil daily. Yearly, Algeria produces an amount equivalent to 5.1% of its total proven reserves.
Some of the largest global oil companies operating in Algeria includes Sonatrach, BP, Total, and Exxon Mobile.
LIBYA: Libya’s economy depends primarily on the oil sector and the nation holds the largest proven reserves of oil in Africa. Libya produces over 1.2 million barrels per day and consumes no less than 200,000 daily.
Unfortunately, much cannot be said of the future of oil production and exploration in Libya until lasting stability is realized. Some of the largest global oil companies operating in Libya include Oilibya, RASCO, Sirte Oil, Tamoli, Zawia Oil and Jowfe Oil Technology.
EGYPT: Oil production in Egypt has increased rapidly in recent years. In January 2021, the production of crude oil for Egypt was 559.72 thousand barrels per day.
Egypt’s state-owned oil company, Egyptian General Petroleum Corporation (EGPC), partners with several international oil companies like Eni and BP in offshore and onshore production operations.
Some of the largest global oil companies operating in Egypt includes Dana Petroleum, Vegas Oil and Gas.
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