Nigeria Emerges As A Dominant Oil Drilling Market In Sub-Saharan Africa

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Nigeria has joined Angola as the largest oil drilling market in sub-Saharan Africa this year, according to a recent report by Hawilti and the Caverton Offshore Support Group. Oil drilling is the process of drilling a borehole into the earth’s crust to extract oil to access fossil fuel reserves. 

Nigeria and Angola have confirmed eight offshore drilling activities, positioning themselves as major players in the region. However, with confirmation of the drilling campaign, Angola is expected to maintain higher levels of activity through the second half of 2024, supporting exploration, reclamation and development drilling. 

Nigeria is emerging as a major oil drilling market in Sub-Saharan Africa. Nigeria, previously ousted as Africa’s largest oil producer by oil theft and broken pipelines, is now showing signs of recovery, according to monthly oil production data released by the Organization of the Petroleum Exporting Countries (OPEC). 

A total of 38 oil rigs have been contracted offshore sub-Saharan Africa so far this year. This indicates an increase in activity compared to 2022 and early 2023.  The report highlights the importance of new drilling contracts signed in existing and emerging markets since January, with 2023 likely to be one of the busiest years for offshore drilling in Africa in the past decade. 


As the oil drilling sector gains momentum in Sub-Saharan Africa, industry professionals are keenly watching the results of ongoing campaigns and looking forward to launching new drilling initiatives.


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