Why is Chad drilling?

The reason: Chad is drilling. In efforts to expand exploration and boost domestic production, the land-locked Central African nation is proving that focusing on basics is a recipe for success. Drilling efforts have translated in increased production and oil revenues, despite several industry setbacks.

How much oil does Chad have?

Chad ranks as the tenth-largest oil reserve holder among African countries, with 1.5 billion barrels of proven reserves as of 2018 and production of over 140,000 barrels per day in 2020. Petroleum is Chad’s primary source of public revenue, and around 90 percent of oil production is exported.

How many oil rigs does Chad have?

With seven rigs deployed on its territory since September 2018 according to Baker Hughes GE, Chad counts more rigs than most African petroleum provinces. It is more than Angola, sub-Saharan Africa's second largest producer of oil. It is almost more than Congo, sub-Saharan Africa's third largest producer.

How did Chad get its oil?

When the country gained its independence in 1960, the government listed the American oil and gas company, Conoco, to exploit the oil. Chad has significant reserves of crude oil, and most of the oil is produced in Doba Basin in Southern part of the country where it was first discovered in the 1970s.

Who makes oil in Chad?

Chad’s oil production is dominated by the China National Petroleum Company in Chad (CNPCIC), the ExxonMobil-led Esso Exploration & Production Chad Inc. (EEPCI) consortium, Glencore, and Taiwanese Chinese Petroleum Corp (operating as OPIC). Other oil companies are exploring new blocs.

Does Chad receive revenue from transportation of crude oil?

The state receives revenues from the transportation of commodities in the petroleum sector, but not in the mining sector. Chad has continued to use its EITI reporting to disclose information on transportation arrangements for crude oil and the related revenues collected by the state.