The Nigeria Upstream Petroleum Regulatory Commission (NUPRC) said Africa holds substantial oil and gas reserves.
The continent’s proven oil reserves are estimated to be 125 billion barrels, representing approximately seven to nine per cent of the world’s total oil reserves, while the proven natural gas reserves are estimated at around 620 trillion cubic feet (Tcf).
The Chief Executive of NUPRC, Gbenga Komolafe, spoke during the unveiling of the African Petroleum Regulators’ Forum (AFRIPERF), which aims to drive continental aspirations in the development and utilisation of hydrocarbon resources.
The NUPRC unveiled the AFRIPERF at its maiden roundtable on the sidelines of the Nigeria Oil and Gas (NOG) Energy Week 2024 holding from July 1 to July 3, 2024 in Abuja.
The AFRIPERF roundtable has its theme as: “Fostering Collaboration and Sustainability in Africa’s Petroleum industry.” He said: “Aside from hydrocarbon resources, Africa is blessed with potential for green and blue hydrogen, solar, wind, biomass and critical minerals for development of clean energy technologies and growing population pre-dominated by young people.”
