• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Economy

Ghana rises to 5th place in African offshore oil rig demand overtaking Libya

2 years ago
in Economy, Energy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
141
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Ghana rises to 5th place in African offshore oil rig demand overtaking Libya

Regarding the African energy landscape, Ghana has emerged as a pivotal player, securing the 5th position in offshore oil rig demand on the continent, as per the 2024 State of African Energy report by the African Energy Chamber.

Surpassing the likes of Libya, which now finds itself in 8th place, Ghana’s ascendancy underscores a substantial reservoir of oil and natural gas reserves within its maritime boundaries.

The report delineates the components contributing to offshore rig demand—encompassing oil reserves, contingent resources, and exploration activities. Ghana’s surge in offshore rig demand from 2022 highlights its robust position in the sector.

The nation presently boasts approximately 660 million barrels of proven oil reserves, with a daily production output of 177,000 barrels.

Ghana, alongside Namibia, South Africa, Equatorial Guinea, and Mozambique, solidifies its standing in the top five countries with the highest percentage of contingent resources rig demand. This accentuates the sensitivity of rig demand in these nations to anticipated investment decisions.

The report identifies Egypt as the frontrunner in cumulative offshore rig demand from 2020 to 2030, registering approximately 123 rig years. Angola and Nigeria follow closely behind. Notably, the majority of the top 20 countries exhibit robust rig demand, with only 32% tied to contingent resources and exploration.

RelatedPosts

Dollar Slides as Trump Fires Fed Governor Lisa Cook

IISD and IMANI to Host Roundtable Shaping Ghana’s New Independent Fiscal Authority

Premier League: Ngumoha’s Late Goal Seals Liverpool’s Thrilling Win Over Newcastle

As the African continent witnesses a surge in drilling activity, with an estimated 6% year-on-year growth, the trajectory since the post-pandemic era has been upward. The expected increase to 967 wells in 2023 signifies a noteworthy uptrend, with 80% of wells historically drilled onshore.

Against the backdrop of an 11% year-on-year increase in drilling levels in 2022, totaling 910 wells, the African energy landscape appears poised for continued expansion. The intricate interplay of economic, geopolitical, and energy market dynamics is poised to redefine Africa’s role in the global energy arena.

Tags: African Energy ChamberAfrican offshore oilghanaGhana rises to 5th place in African offshore oil rig demand overtaking Libya
No Result
View All Result

Highlights

US Open: Venus Williams and Keys Bow Out as Alcaraz Launches Campaign

GSE Opens Week Higher as CPC Posts First Gain of 2025

Asante Gold Announces Completion of $500m Financing Package to Boost Bibiani and Chirano Growth Plans

Gov’t Pledges to Intensify Reforms in Gold Sector Ahead of Crucial Anti-Money Laundering Assessment

Otto Addo Expected to Announce Squad for Crucial 2026 World Cup Qualifiers

How Artificial Intelligence Is Both Driving and Derailing Decarbonization

Trending

Business

Dollar Slides as Trump Fires Fed Governor Lisa Cook

August 26, 2025

Dollar Slides as Trump Fires Fed Governor Lisa Cook President Trump has fired Federal Reserve Governor Lisa...

IISD and IMANI to Host Roundtable Shaping Ghana’s New Independent Fiscal Authority

August 26, 2025

Premier League: Ngumoha’s Late Goal Seals Liverpool’s Thrilling Win Over Newcastle

August 26, 2025

US Open: Venus Williams and Keys Bow Out as Alcaraz Launches Campaign

August 26, 2025

GSE Opens Week Higher as CPC Posts First Gain of 2025

August 26, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.