Special Report: Africa's reserves, production enter period of steady growth

02/24/2003
The continent of Africa is progressing through an extended period of oil and gas production growth and reserves appreciation.Discovery of huge oil reserves offshore and numerous deposits on land and the construction of pipelines from the interior to the coasts are transforming the continent into a major producing territory.By OGJ estimates, Africa's estimated proved oil reserves have grown the past 10 years until they are nearly equal to those of Russia and the eastern FSU and double those of the Asia-Pacific region (Tables 1 and 2).Oil reserves are up 25% on the decade, conservatively. Gas reserves are up about half that percentage and are being monetized as operators meet gas utiliz...
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