Libya is focusing to reach the oil and gas production of pre-revolution levels soon. Ghana Authorities are building the needed infrastructure for their Oil & Gas new finds
Africa is the world’s second largest and second-most-populous continent of 54 fully recognized sovereign states with an estimated population of more than 800 million people. The upstream oil industry is key to the continent of Africa. According to the 2008 BP Statistical Energy Survey, Africa had proven oil reserves over 120 billion barrels at the end of 2009 or close to 10% of the world’s reserves. Five countries dominate Africa’s upstream oil production. Together they account for 85% of the continent’s oil production and are, in order of decreasing output, Nigeria, Libya, Algeria, Egypt and Angola. This article shall focus on two countries in Africa, one a major oil producer, Libya, and the other is emerging to be a player in the oil production, Ghana.
Libyan oil and gas production has reached over 70% of pre-revolution levels and the quantity is increasing on daily basis, according to Libya’s Deputy Minister of Petroleum, Libya is producing over 1.35 million barrels of oil a day. Libya’s state-owned National Oil Corporation (NOC) said that the country’s crude oil exports are forecasted to grow to 1.29 million barrels per day .Oil exports are also expected to reach 1.33 million barrels per day. It also said that it plans to sell 30 million barrels of May’s production, whereas 10 million barrels would be taken by companies that receive oil for investing in Libyan production.
Opportunities in Libya for Egyptian Oil & Gas service companies are great, especially with the growing cooperation between the two countries. Facilities are now being managed by Libyan engineers and workers, which is a great plus for Egyptian contractors to work with the well trained Libyan work force, and in the mean time employ a training program for training young Libyan professionals.
Petrographics has established a branch office in Libya in 2000, which employs 80% of the workforce as Libyan professionals. Petrographics will be continuing the operations starting near the end of the second quarter with many of the oil & gas producers.
Ghana is a new comer in the industry, with finds in the Western Region. The country is expecting 120,000 barrels per day and 120 million cubic feet of gas per day in phase one, according to Dr. Kobena Donkar, Deputy Energy Minister. The construction of the oil services facilities has already started to meet the needs for immediate infrastructure.
There are hardly any technical service companies in Ghana. Most of the work is done outside the country. Therefore, Petrographics saw a considerable opportunity to establish a branch company in Accra, providing this vital service in Data Management, Seismic Data Processing, and Reservoir Characterization. Other service providers will have a sizable operation that will need their services as well
By Dr. Abo Bakr Radwan, Vice Chairman, Petrographics