The region of West African holds unprecedented volumes of natural resources of which only a fraction is currently being exploited. In order for Africa to reap the economic and social benefits from its booming oil and gas sector its governments are implementing favorable oil and gas frameworks meant to create favourable investment opportunities in the oil and gas sector. Most of these countries have initiated policies to ensure that the oil and gas sector becomes more competitive which will eventually yield maximum benefits to the countries.

Apart from Nigeria, other West African countries that have successfully attracted investment to its oil and gas industry in recent times: Ghana, Equatorial Guinea/Sao Tome and Principe, Gabon, Ivory Coast, and Mauritania.

NIGERIA[b][/b]
Nigeria serves as a hub for oil and gas exploration, production and services in the West African Gulf of Guinea region. Nigeria has recoverable gas reserves estimated at between 124 -187 trillion standard cubic feet (Tcf) and additional undiscovered natural gas potential conservatively estimated at about 45-100 Tcf. Nigeria is a “gas surplus” country with gas life expectancy projected to last 109 years. At present, about 75% of associated gas produced as a consequence of oil production activities is flared.

Nigeria still remains the most promising investment hub in the region. The present divestment of assets being carried out by the IOCs gives a good backing to this assertion; they are selling to move further deep offshore for better benefits. To read full story, click the link below:
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