The MoU was signed during the visit of Karim Badawi, Minister of Petroleum and Mineral Resources, and others. (Image source: bp)

bp has signed a Memorandum of Understanding to evaluate opportunities for a five-well programme at water depth ranging from 300 to 1,500 meters in the Mediterranean Sea 

This will help plan the development of national gas reserves to optimise existing production facilities in the West Nile Delta. As the company aims to begin drilling operations in 2026, there are plans to explore the possibility of tie-back options after considering resource potential. 

The MoU was signed during the visit of Karim Badawi, Minister of Petroleum and Mineral Resources; Ashraf Swelam, Egypt’s Ambassador to the UK, and Samir Raslan, Undersecretary for Exploration and Agreements at the Ministry of Petroleum and Mineral Resources, to bp’s headquarters in London.

The delegation met with Murray Auchincloss, bp’s chief executive officer; William Lin, executive vice president for gas and low carbon energy; Nader Zaki, regional president, Middle East and North Africa; and Wail Shaheen, president of bp Egypt.

“Today’s announcement reaffirms our commitment to supporting investment in Egypt’s gas sector.  We appreciate the continued engagement and support from HE Minister Karim Badawi.  We look forward to applying bp’s technological expertise to build on our recent exploration and development momentum to bring on new gas resources and accelerated production for the country as well as deliver value for our business,” said Lin.

Zaki added,“We are proud of our longstanding partnership with the Egyptian government. This memorandum represents a strategic step in our investments in Egypt’s energy sector during this decade, enabling us to develop additional gas resources in the West Nile Delta and bring them onstream as quickly as possible to meet the needs of the local market.”

The agreement comes as bp plans to increase production to 2.3-2.5 million barrels of oil equivalent a day in 2030 with the capacity to increase production out to 2035. It follows a successful exploration campaign in the first half of 2025 in which bp has made 10 discoveries including two in Egypt, where it completed drilling activity at the Fayoum-5 gas discovery well and El King-2 exploration well, both part of the West Nile Delta development.

The Banga Kayo, Holmoni and Cayo permits will see development.

As the Republic of Congo targets increasing production by 200,000 barrels per day by 2030, it has closed a US$23bn agreement on three permits with Chinese company, Wing Wah

Involving the integrated development of the Banga Kayo, Holmoni and Cayo permits, the agreement was officially signed by Bruno Jean-Richard Itoua, Minister of Hydrocarbons of Congo; Jean-Jacques Bouya, Minister of State of Congo, and Xiao Lianping, president general, Wing Wah in August.

This pact can ramp up cumulative production across the three permits to more than 1.3 billion barrels by 2050. 

There will be an integrated gas monetisation component as well, with multi-phase expansion of LNG, LPG, butane and propane production capacity–intended to satisfy both domestic demand and exports. The integrated nature of the development includes scalable gas treatment infrastructure, on-site power generation and water-management systems–all designed for efficiency and community benefit.

The initiative generates employment for around 3,300 Congolese workers.  

Afentra eyeing operatorship in Angola block.

Africa-focussed oil and gas company, Afentra plc, has signed heads of terms with Angola's National Agency of Petroleum, Gas and Biofuels (ANPG) for the risk service contract (RSC) for offshore Block 3/24, located adjacent to its existing Block 3/05 & 5A interests in Angola

The development is currently awaiting approval from government.

The terms include an initial five-year period to review the development potential for existing discoveries and exploration prospectivity; 25-year production period that would subsequently be awarded when a discovery is developed, and Afentra as operator with a 40% interest in the block, alongside Maurel & Prom Angola S.A.S. (40%) and Sonangol E&P (20%).

Afentra's gross offshore acreage position has increased considerably to 810 sq km.

While Block 3/24 already consists of five shallow water discoveries, several exploration prospects were identified within the acreage on existing 3D seismic. Adjacent to Afentra's existing producing oil fields and undeveloped discoveries in Blocks 3/05 and 3/05A, Block 3/24 spans an area of 545 sq km.

CEO Paul McDade said, "We are pleased to announce this Heads of Terms and excited to progress towards Operatorship of Block 3/24, which represents the next step in our strategy to build a material production business in Angola. We look forward to reviewing the most efficient development options for the numerous discoveries, utilising the extensive Block 3/05 infrastructure. This will provide upside potential to enhance the overall redevelopment plan for the Block 3/05 area where we expect to significantly increase production and reserves, delivering long-term value and cashflows. Furthermore, we see potential for future infrastructure led exploration given the prospectivity of the area.

We appreciate the trust invested in Afentra by the ANPG and our joint venture partners and we look forward to building on the successful collaborative working relationship with Block 3/05 Operator Sonangol to ensure we deliver the full potential of this multi-billion barrel area."

Invictus' Cabora Bassa gets National Project Status.

The Cabora Bassa Project by Invictus Energy Ltd has received National Project Status by the Zimbabwe Finance Minister, Mthuli Ncube, and following a series of constructive meetings, the parties have finalised terms of the Petroleum Production Sharing Agreement (PPSA), which is now being prepared for execution

National Project Status is reserved for projects deemed of strategic importance to the country and considered critical to Zimbabwe’s economic growth and development. NPS status provides a range of fiscal and non-fiscal incentives, including duty exemptions, fast-tracked permitting and streamlined access to key infrastructure and services as the project moves towards the development phase.

Invictus, managing director Scott Macmillan, said, “Agreement of the PPSA terms and the granting of National Project Status represent two pivotal milestones for Invictus and the Cabora Bassa Project.

“The PPSA provides the stable and transparent framework required to progress development, while NPS delivers tangible fiscal benefits to reduce costs and accelerate execution.

“This recognition underscores the strategic importance of our discovery and the potential it holds to transform Zimbabwe’s energy landscape.

“These outcomes highlight the Government of Zimbabwe’s strong commitment to unlocking the country’s energy potential. We are grateful for their support and look forward to executing the PPSA and moving towards development of the Cabora Bassa Project.”

Ncube commented, “The Government of Zimbabwe recognises the economic, energy security and social opportunity Cabora Bassa presents.

“We are pleased to be working closely with Invictus Energy through its recent strategic partnership with Al Mansour Holdings and to finalise the PPSA to ensure a transparent, fair and commercially sound
agreement that benefits the people of our nation.

“The Government is committed to fostering a competitive and attractive investment environment, and we are delighted to partner with Invictus Energy as this landmark project advances towards development.”