www.africaoilgasreport.com

Libya creeps upwards, but remains firmly on top of Africa’s game. Angola’s not yet in the elite gas club..

Angola’s proven crude oil reserves have been revised upwards by 50% for 2007, but recorded as staying on the same figure in 2008, according to the latest edition of the BP Statistical Review of World Energy.
The country is now credited with holding 13.5Billion barrels of oil in 2007, which remained unchanged in 2008(an indication that the year on year increase was erased by year on year production). This figure is 4.5 billion barrels higher than the nine (9)billion barrels Angola was credited with holding in 2006.
It is clear that the Review, widely considered as the key reference for oil and gas reserves and production and consumption in the industry, had only just taken cognizance of Angola’s sharp deepwater reserves increase, based on the projects that have come to fruition in the last three years. The Southwest African country had been credited with holding around Nine billion barrels in 2003, 2004, 2005 and 2006, even as projects after increasingly large deepwater projects came on ......more details in www.africaoilgasreport.com