In Africa not too long ago publicised the first time an oil discovery in the Lake Turkana region in the northeast of the nation, growing to be the third oil producer in East Africa right after Uganda and Tanzania.
Africa offers substantial oil resources, with traditional oil-producing countries mainly in North Africa and West Africa, including Equatorial Guinea, Gabon, Sudan , Congo, Nigeria, Angola, and Chad. These days, some nations in East Africa and West Africa, including Ghana, Liberia and Sierra Leone, have found large oil reserves and joined in oil production.
Substantial natural gas resources are also discovered in South Africa. In February, 2010, significant gas resources were found in Mozambique just offshore and considerable natural gas resources available for industrial exploitation were also located in Namibia and Botswana.
Obtaining a new offshore oilfield in Angola, a regular oil-producing country, is predicted to change Nigeria to be the biggest oil producer in Africa. Besides, oil exploration in Madagascar, Seychelles, Ethiopia and Somalia is under way.
As an growing number of African countries have discovered oil and gas resources, ways to avoid “Resource Curse” becomes a serious problem confronting new oil-producing nations. Donald Kaberuka, President of the African Development Bank, explained that African countries with new discovery of oil and gas resources should put money into education and facilities construction, and support traditional industries, so as to lay a solid foundation for eco friendly development.
The Kenyan government suggests that it will invest 15 billion shillings (180 million dollars) in mineral development. The Ugandan govt has worked out methodical plans involving highway, railway and energy development and approved a plan of creating a refinery. An oil pipeline is going to be built from Lake Albert to Kampala, the main city city of Uganda.
Check out our Page to know more about Oil and Gas in Africa
Author: Jacob SashariThis author has published 1 articles so far.