By OGJ editors
HOUSTON, Feb. 15 -- Africa will supply 30% of an estimated 13.65 million b/d growth in global liquids production capacity by 2010, excluding the US onshore and Canada, said an official of IHS Energy.
Africa will also contribute more than 25% of the expected growth in global LNG capacity by 2010, Ron Mobed, president and chief operating officer of the energy segment of IHS, told a session at the Energy Institute's International Petroleum Week in London.
Africa today supplies 12% of world liquids production and 29% of active LNG shipping capacity, Mobed said.
Discoveries, resources
African finds totaled nearly 25% of world liquids reserves discovered in 2000-04 and 12% of world gas reserves discovered in the same period excluding the US onshore and Canada, Mobed said.
Companies discovered 300 billion boe, two thirds of it liquids, in Africa through 2004. Of that, 85% has been found in 10 basins, and 22% is in Libya's Sirte basin alone.
Mobed listed IHS Energy's estimate of Africa's remaining liquids resources at the end of 2004 at 105 billion bbl. That includes Nigeria 35.6 billion bbl, Libya 26.8 billion bbl, Angola 13.6 billion bbl, Algeria 14 billion bbl, and Egypt 3.4 billion bbl.
A further 11.2 billion bbl is in sub-Saharan and Saharan countries.
"Sudan, currently a political wild card, is also rapidly expanding both its production and reserves," Mobed said.
A substantial part of Africa's oil production growth is to come from new giant fields in Nigeria, Angola, and Algeria. Giant deepwater discoveries off Angola and Nigeria are expected to add more than 2.2 million b/d.
National oil companies, which are increasingly competing with international oil companies for access to hydrocarbon resources, hold 216 licenses in Africa, compared with 95 tracts 10 years ago.
Africa and LNG
Africa had 50 million tonnes/year of LNG capacity at the end of 2005, with most of it in Algeria and Nigeria, Mobed noted.
"Egypt opened a new train that will accommodate 3.6 million [tonnes] of LNG per year, while Equatorial Guinea and Angola have announced their first LNG projects," he said.
