Traditionally, the Middle East and the Gulf region have always been seen as the primary sources of oil and gas around the world. There is no doubt that there are countries in the American continental plate that have been producing huge quantities of oil such as Venezuela and the United States. However, the focus has always been on the Gulf and the Middle East for oil exploration companies around the world.
However, Boris Ivanov, who operates Gazprom has always had a feeling that Africa stands somewhere on the ranks when it comes to oil and gas finds. Nobody had ever been so convinced about oil and gas in Africa to the point of setting his company, Gazprom, in the region to make use of the available opportunities such as Boris. However, there has been very little to support his optimism.
Home to a 6.3-million-acre basin with a 12-billion-barrel original oil in place potential, could #Namibia be the world’s next oil hotspot?
Read via @OilandEnergy: https://t.co/t9QkD5Qo7o
— Boris Ivanov (@BorisIvanovGPB) June 17, 2020
Most of the African governments have been doing very little to support exploration activities in the region. Boris Ivanov notes that most of the countries have even gone into an extent of entering into long agreements with other nations around the world for supply of oil and other commodities. This was a clear indication that most of the countries were not hopeful of having oil in their continental plate.
However, the only hope for Africa when it came to oil and exploration activities was Nigeria, which is an Oil Producing and Exporting Country (OPEC) member because it has been producing huge quantities of oil. However, in the last few years, it seems that Boris Ivanov has been vindicated and proved that he was right when investing in Africa for gas and oil exploration activities because he knew something was there in the region.
In the last few years, news has been all over the press with each country discovering oil and gas in their continental plates. The East Africa has turned oil into a rush for any company that is interested in oil and gas exploration after discovering huge quantities of gas and oil within the mainland and also within the continental shores of the Indian Ocean, which is important for investors such as Boris Ivanov.
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