Unlike Nigeria that has failed to grow its oil reserves nor exploit same, new kids on the block – Guyana, Suriname, and Ghana, say they have no plans to let their newly discovered oil wealth go to waste by joining global decarbonization efforts. Nigeria, according to data from the Department of Petroleum Resources (DPR), holds 36.91 billion oil reserves, a number it says it plans to increase by 35 per cent to 50 million barrels in the short to medium. Over the years, Nigeria has set a target to increase its oil reserves to 40 billion, a projection it has failed to meet. But the new oil kids, unlike Nigeria, which is the largest oil producer in Africa, plan to exploit them as best as they can before they become worthless, according to statements by government officials made at last week’s Offshore Technology Conference (OTC) in Houston. Billions of barrels of crude oil have been discovered in the Guyana-Suriname Basin offshore, the two South American neighbors, as well as in Ghana in recent years.
Source: https://www.sunnewsonline.com/unlike-nigeria-newest-oil-countries-move-to-grow-reserves/