A report by the African Energy Chamber says Algeria ranks second on the continent for remaining recoverable oil and gas reserves, with a total estimated at around 27 billion barrels of oil equivalent, just behind Nigeria, which tops the list with more than 40 billion barrels.
According to the report, Africa's remaining recoverable resources are estimated at no less than 161 billion barrels of oil equivalent, with Algeria and Nigeria alone holding around 42% of the total.
The report says nearly a third of the continent's remaining oil and gas wealth is concentrated in North Africa, with Libya, Angola and Egypt among the best-endowed countries, while Mozambique and Namibia are growing in importance on Africa's energy map on the back of new discoveries.
