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OWA: W. Africa is strategic for global crude oil supplies
02/04/2008
Offshore West Africa is poised to become an important source of oil and gas supplies for global consumption, with 6.5 billion bbl of oil discovered in the last 2 years alone.Speaking at the Offshore West Africa conference in Abuja, IHS Energy analyst Adebola Adejumo said oil companies were attracted to the province because of large discoveries and rising energy prices.“Angola, Algeria, Libya, and Nigeria will provide 80% of the production,” Adejumo said.Chris Ogiemwonyi, Nigeria National Petroleum Corp. group executive director of exploration and production, said Brazil’s large oil find, Tupi, was an exciting development because it suggested that similar discoveries coul...
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