Rwanda Poised to Become Africa’s Newest Oil Producer – Africa.com

Rwanda’s recent oil discovery in Lake Kivu is set to propel the country into the ranks of Africa’s oil-producing nations, with a 2D seismic survey revealing 13 potential drilling locations with significant hydrocarbon reserves. This development aligns with Rwanda’s efforts to diversify its economy, currently relying on agriculture, mineral exports, and tourism, by expanding its extractive industries. The government’s ambitions to boost its presence in the global extractive sector are further supported by its investments in methane gas extraction from Lake Kivu, including a $400 million deal to process the gas for various purposes.

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