4 European Policy and Energy Interests – Challenges from the Gulf of Guinea ␣
CHAPTER I OIL POLICY IN THE GULF OF GUINEA 4 European Policy and Energy Interests – Challenges from the Gulf of Guinea ␣ By Lutz Neumann 1. Introduction ␣ The Gulf of Guinea has great oil and gas potential. While predictions on Africa should be made with some care, analysts and representatives of the oil industry appear to agree that the region belongs to those areas where production will rapidly increase in the coming years and decades. Output figures of the chief oil- producing countries, Nigeria and Angola, are expected to double or triple within the next decade and thus will cause certain dynamics on the shaping of trade movements (see table 1). Table 1: Projected Oil Production of Gulf of Guinea 2005-2030 (in b/d) 2005 2010 2015 2030 Nigeria 2,719,000 3,042,000 3,729,000 4,422,000 Angola 1,098,000 2,026,000 2,549,000 3,288,000 Equatorial-Guinea 313,000 466,000 653,000 724,000 Congo (Brazzaville) 285,000 300,000 314,000 327,000 Gabon 303,000 291,000 279,000 269,000 Côte d’Ivoire 43,000 71,000 83,000 94,000 Cameroun 84,000 72,000 66,000 61,000 Congo (Kinshasa) 30,000 33,000 30,000 25,000 Ghana 11,000 16,000 20,000 23,000 Total Africa 9,936,000 12,059,000 13,975,000 16,242,000 Source: EIA, U.S. Department of Energy.␣ FRIEDRICH-EBERT-STIFTUNG 59 OIL POLICY IN THE GULF OF GUINEA CHAPTER I The African countries along the Atlantic coast represent a growing supplier region.
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