The Gulf of Guinea is fast emerging as a major source of global energy supply. It is regarded as one of the most promising sources for work energy with proven reserve running into billions of barrels of oil and with great potential for a possible reserve growth. Some of its other endowments such as natural gas, minerals and rich rain forests continue to attract significant interest from all parts of the globe.
However, it is her crude oil reserve that is the major drive force of global interest in the region. Today, apart from the persian gulf region, One in four barrels of oil produced worldwide comes from the gulf of guinea. so where is this gulf of guinea, one may with to ask? It comprises from west and central Africa along the Atlantic coast of what is known as the “Armpit of Africa”. The countries of the region are Angola, Benin, Cameroon, Central Africa Republic, (CAR) Cote d’ Ivoire, The Democratic Republic of Congo (DRC), Equatorial guinea, Gabon, The Gambia, Ghana, Guinea Bissau, Liberia, Nigeria, Sao Tome & Principe, Senegal, Sierra Leone and Togo.