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Top 10 largest oil and gas producing countries in Africa

In the first half of 2020, global oil and gas demand dropped by 11% and OPEC lowered their crude oil production by a total of 9.7 million barrels per day to prop-up prices and reduce oversupply. Though leading top producers on the continent have remained on top, but by narrower margins, with countries like Nigeria and Angola producing between 25 -30% less in 2021 than in 2019. Now, as OPEC gradually eases production cuts, African producers are seeking to ramp up production to the level it was before COVID-19 pandemic, amid a rebound in oil prices and heightened exploration drive.


10. CHAD
Estimated to hold one billion barrels of oil reserves, Chad derives the majority of its crude from the Doba Basin in the southern part of the country. Major operators include ExxonMobil and Shell, the former of which operates the Chad/Cameroon development project that transports crude from oilfields in southern Chad via pipeline to a marine terminal in Cameroon for export. Chad's crude oil production currently sits at 109, 000 barrels per day.

9. EQUATORIAL GUINEA
Equatorial Guinea is a significant oil producer in Africa. Crude oil produced by the country is primarily extracted from the Alba, Zafiro, and Ceiba regions. As a result of the recent increase in the extraction of petroleum, the country's economy has grown significantly. In fact, during the period from 1997 to 2001, the country experienced an average GDP growth of 41.6% per year.

8. GABON
At crude oil production of 160,000 barrels per day, Gabonese oil production declined due to the maturity of several fields and insufficient investments to renew production bases, compounded by OPEC-led production cuts that have reduced output by over 100,000 barrels per day. As a result, the country is seeking to attract new investment into offshore exploration.

7. GHANA
Strong output from the Ten oilfields, in conjunction with rising foreign investment in offshore basin development, has granted Ghana a favorable long-term production outlook. Thanks to new fields coming on stream, in particular, the Aker-operated Deepwater Tano Cape.

6. REPUBLIC OF THE CONGO
Offshore oil and gas dominate the extractive sector in the Republic of the Congo, and the country has been able to mitigate its production decline by bringing several projects online over the past decade, including its first deep-water field Moho-Bilondo.

5. EGYPT
With crude oil production of 560,000 barrels per day, Egypt has its sights set on changing those figures, and one billion dollars has been rolled out to that cause, for new oil and gas exploration in the Western Desert between 2021 and 2022.

4. ALGERIA
With the second-largest oil reserves on the continent, Algeria enjoys a relatively stable rate of production of around 1.1 million barrels per day pre-COVID-19, although output has faced decline in recent years.
With the decline in output, present crude oil production sits at 874,000 barrels per day.

3. ANGOLA
The oil production in Angola was measured at 1.14 million barrels per day in February 2021, keeping the same trend recorded in the previous month. Compared to February 2020, the output decreased from 1.54 million barrels per day. That same year, the country produced on average 1.3 million barrels of oil daily, the lowest level in the last fifteen years. Currently, Angola’s challenge lays in reversing this decline in production, as oil and gas activities has an enormous influence on the country’s economy.

2. LIBYA
Following a blockade against the country’s oil export terminals that sank production to under 200,000 bpd, Libya resumed its pre-blockade output levels at the close of 2020 and is set to stabilize production in 2021.
The Libyan Government recently approved a $1.6-billion budget to the National Oil Corporation for oilfield development and infrastructure maintenance, which will enable the corporation to reach its target of 1.6 million barrels per day within two years. Libya's present crude oil production is 1.17 million barrels per day.

1. NIGERIA
Leading the pack, Nigeria is set to grow its hydrocarbon sector with the launch of more than 100 oil and gas projects over the next five years, including 25 upstream projects. The Nigerian Petroleum Development Corporation has pledged to boost production by 250,000 bpd over the next two years, to step up from the present 1.36 million barrels per day.