ABSTRACT
The Gulf of Guinea lies in the concave recess of West and Central Africa which is filled by water mass from the Atlantic Ocean. The area is constituted by Nigeria, Equatorial Guinea, Cameroon, Angola, Gabon, Democratic Republic of Congo and Democratic Republic of São Tomé and Príncipe (DRSTP). Although the Gulf of Guinea is made up of eight countries, subsequent discussions will focus on Nigeria and DRSTP as the principal parties in the JDZ. The Gulf of Guinea contains one of the richest and most prolific fields in an area of about 1.2 million acres offshore. This prolific area, often referred to as the ‘Golden Rectangle’, is proximately located to the offshore intersections of the maritime boundaries of Nigeria, Cameroon and Equatorial Guinea. The region is highly endowed with hydrocarbon and fishery resources. It is believed to have proven crude oil reserves estimated to be between 5 to 14 billion barrels with producibility potential of 1.0 mmbd.
