Formed in 2005 by energy industry veteran Tunde Agbi, Ambit Energy Corporation pursues high-potential opportunities in the oil and gas sector in Nigeria. Building on his legacy of success in Canadian and international energy markets, Tunde Agbi aims to establish Ambit Energy Corporation as a major player in the growing West African energy industry. According to consulting firm KPMG, oil and gas account for nearly 60 percent of Africa’s earnings from exports, with West and North Africa standing out as the continent’s top producers.
While North Africa has the largest known oil and gas reserves on the continent, energy industry experts cite political and economic instability as key factors standing in the way of the region meeting its potential in the near future. For investors, West Africa has the highest prospects of near-term success, in part due to current offshore exploration prospects. In addition, Nigeria holds the most natural gas reserves on the continent, with potential reserves of 16.8 trillion square meters. To take advantage of this massive natural gas potential, the Nigerian oil and gas industry needs additional investments in infrastructure.
Despite opportunities in other regions, industry experts expect West Africa to be the primary recipient of investment dollars if oil prices stay low. To maximize the potential of their investments in West Africa, investors can partner with energy firms that have a sound exploration and production strategies, along with proven success on prior projects in the region.