Africa holds approximately 125.3 billion barrels of proven oil reserves, presenting a vast opportunity for both national and multinational companies to compete for exploration and production rights. With over 100 oil and gas companies operating across the continent, here are the top ten upstream companies driving Africa’s oil industry...
- Sonatrach (Algeria) Sonatrach is Africa's largest oil and gas company. State-owned, it dominates Algeria’s upstream oil and gas sector and is involved in exploration, production, transportation, and refining.
- National Petroleum Corporation of Libya (NOC) NOC manages Libya’s oil industry and has played a crucial role in maintaining production despite political instability. Libya holds the largest oil reserves in Africa.
- TotalEnergies (France) Active across many African countries, including Nigeria, Angola, and Gabon, TotalEnergies is a significant player in the upstream sector with a long history of oil exploration and production in Africa.
- Chevron Corporation (United States) Chevron is heavily involved in the upstream sector in countries like Angola and Nigeria. It has large offshore projects and is one of the key international oil companies in Africa.
- ExxonMobil (United States) ExxonMobil has upstream operations in countries like Nigeria, Angola, and Equatorial Guinea. It focuses on deepwater exploration and production, with significant offshore projects.
- Eni (Italy) Eni has a strong presence in Africa, particularly in Nigeria, Egypt, and Angola. The company is involved in exploration and production, with notable discoveries in offshore and onshore oil fields.
- BP (British Petroleum) BP is another global player with significant operations in Angola and other parts of Africa. The company is involved in upstream oil and gas exploration and production across the continent.
- Angola’s Sonangol Sonangol is Angola’s state-owned oil company, responsible for managing the country’s oil resources. It plays a key role in upstream activities and partners with international oil companies for exploration and production.
- Tullow Oil (United Kingdom) Tullow is an independent oil company with major upstream operations in Ghana, Uganda, and Kenya. The company has been instrumental in unlocking oil resources in East Africa.
- Kosmos Energy (United States) Kosmos is an exploration and production company with major projects in Ghana, Mauritania, and Senegal. The company focuses on offshore projects and has been part of significant oil discoveries in West Africa.
