Market Highlights

Positive factors driving the rush for oil in West Africa:
  • 750 Million barrels proven reserves of Oil in Kenya, discovered in 2012 by Tullow and Africa Oil Corp.

  • Ghana estimates its proven reserves of Oil and Gas is between 3-5 Billion barrels
  • Chad is estimated to have proven reserves of approximately 1 Billion barrels of Oil

  • West Africa and the Gulf of Guinea is estimated to hold reserves of up to 60 Billion barrels of Oil and Gas
  • Major oil discovery in Ghana is about to begin production in 2010
  • Anadarko announced a major discovery offshore Sierra Leone fall of 2009

  • Largely unexplored region with billion barrel potential plays