A U.S.-owned firm conducted oil exploration studies off Guinea’s coast. In February 2012, their first exploratory well uncovered oil of a non-commercial quality. In September 2017, their second exploratory offshore drilling reportedly did not find commercially exploitable quantities of oil.
Does Guinea have oil & gas reserves?
The extent of Guinea’s potential oil and gas reserves remains unknown, but promising. A U.S.-owned firm conducted oil exploration studies off Guinea’s coast. In February 2012, their first exploratory well uncovered oil of a non-commercial quality.
What are the major consumers of Guinea’s oil & gas reserves?
Major consumers include mining companies, retail gasoline stations, and the state-owned electric utility’s diesel generators. The extent of Guinea’s potential oil and gas reserves remains unknown, but promising. A U.S.-owned firm conducted oil exploration studies off Guinea’s coast.
Does Guinea-Conakry have oil and gas potential?
While the true extent of Guinea-Conakry’s oil and gas potential remains relatively unknown, the future prospect of the west African country’s petroleum sector is promising.