The Volans-1X exploration well is part of PEL85.

The Volans-1X exploration well in Namibia’s Orange Basin has recorded excellent petrophysical properties and no observed water contact

The well is part of the Petroleum Exploration License 85 (PEL85), which is operated by Rhino Resources with a working interest of 42.5%. Co-venturers are Azule Energy (42.5%), NAMCOR (10%), and Korres Investments (5%).

The Northern Ocean's semi-submersible Deepsea Mira was deployed to drill the well, reaching a total depth of 4,497.5m TVDSS (true vertical depth subsea). It penetrated the Upper Cretaceous target, and encountered 26m of net pay in rich gas condensate-bearing reservoirs. While the results continue to be evaluated, initial laboratory analysis of two samples indicated a high condensate-to-gas ratio (CGR) of >140 bbl/mmscf with liquid density of approximately 40° API gravity. 

The Volans-1X well marks the third significant hydrocarbon discovery in 2025 for Azule Energy partners, following the Capricornus-1X light oil find in Namibia and the Gajajeira-01 gas discovery in Angola. 

The contracts amount to nearly US$135mn in total.

A significant demand boost in West Africa and other regions reflected in Saipem's latest wins as the company announced new offshore drilling contracts amounting to nearly US$135mn in total 

Eni Ghana Exploration & Production Limited and Eni Côte d’Ivoire Limited have booked the Santorini, a seventh-generation drillship, for extended operations in Ghana and Côte d’Ivoire respectively, ahead of the next drilling campaign in the Mediterranean Sea.

Another seventh-generation drillship, the Deep Value Driller, has completed its operations in Ghana on behalf of Eni Ghana Exploration & Production Limited and will be employed for a new project in Indonesia for Eni Ganal Deepwater Limited, with activities expected to commence by the end of the year.

The Scarabeo 9, having recently completed a successful drilling campaign in Egypt for Burullus Gas Company, an Egyptian oil and gas company active in offshore gas production, has started operations in Libya under a new contract with Eni North Africa BV, that will keep the rig active until early 2026.

Saipem's drilling units are known for bringing in reliability and operational strength to major projects.

Block 3/24 is located adjacent to Afentra's existing interests in Blocks 3/05 and 3/05A.

Africa-focussed oil and gas company, Afentra plc, has received the Presidential Decree approval for its Risk Service Contract (RSC) for offshore Block 3/24 

This follows the signing of Heads of Terms with Angola's National Agency of Petroleum, Gas and Biofuels (ANPG).

Block 3/24 is located adjacent to Afentra's existing interests in Blocks 3/05 and 3/05A, containing five established discoveries in shallow water, offering short-cycle, low-cost development as well as near-field exploration potential.

Under the terms of the RSC, Afentra will be Operator with a 40% interest in the block, alongside Maurel & Prom Angola S.A.S. (40%) and Sonangol E&P (20%).

Block 3/24 spans across 545 sq km, lying adjacent to Afentra's existing producing oil fields and undeveloped discoveries in Blocks 3/05 and 3/05A. The block adds a further five discoveries - Palanca North East, Quissama, Goulongo, Cefo and Kuma - all located in the same Pinda reservoir as the existing oil fields in Block 3/05 and 3/05A. In addition, the block contains the previously developed Canuku field cluster, which has produced up to 12,000 bopd. The block is estimated to include over 130 mmbbls of STOIIP and 400 bcf GIIP of already discovered resources.

These discoveries and previous development assets offer a significant opportunity to apply modern technology to deliver short-cycle, low-cost developments tied back to the existing infrastructure in Block 3/05. A number of exploration prospects have also been identified based on existing 3D seismic data.

CEO Paul McDade said, "We are pleased to confirm the formal approval of the Block 3/24 license. This milestone marks Afentra's first offshore operatorship and represents a significant step in our strategy to build a material production business in Angola. Our attention will now turn to technical analysis of the historic wells on the license as we commence a phased programme to re-access wells and fast-track first oil. We look forward to working with our joint venture partners to unlock the full potential of this highly prospective block."

This to believed to be the first internationally structured aviation financing for a Nigerian Air Operator. (Image source: VivaJets)

London-based TLG Capital (TLG) has closed a US$10mn facility for VivaJets, a subsidiary of Nigerian aviation services platform Falcon Aerospace limited 

The financing was structured alongside Wema Bank, and will retire a legacy local‑currency facility used for aircraft acquisition and fleet growth. Both TLG and VivaJets believe this to be the first internationally structured aviation financing for a Nigerian Air Operator, and funding will be applied to boost intra-African connectivity.

This injection of funds is coming at a time of rapid expansion for the business aviation firm with a growing fleet and international collaborations whilst positioning itself as a critical mobility and logistics partner to the oil and gas industry in Africa.

Speaking to journalists on the sidelines of the African Energy Week in Cape Town, South Africa, CEO of Falcon Aero, Erika Achum disclosed that the fresh funding will be used to expand VivaJets’ fleet and strengthen its operational presence across Africa.

“We’re growing from three to four aircraft now, and by the third quarter of 2026, we expect to have significantly increased our fleet. This will allow us to serve more routes and clients across the continent,” Achum said.

According to the aviation tycoon, the company is reshaping how air logistics supports oil and gas operations, ensuring essential movement of people, equipment and products in a sector where time delays often translate into enormous financial losses.

Isha Doshi, partner, TLG Capital, said, “Africa’s growth story depends on connectivity. Falcon Aero is linking cities that global capital often overlooks, including tier-2 and tier-3 hubs where trade and opportunity are rising fastest. Aviation operators need long-duration capital at sensible rates. With our partners at Wema Bank and Falcon Aero, we are pleased to deliver a long-term financing solution that helps support highly skilled engineers, pilots, and workers in Nigeria's aviation sector."

Tejumade Salami, chief operating officer of Falcon Aero, said, "We spoke to many lenders; TLG solved it. Their structured-solutions mindset turned a complex funding puzzle into a single, bankable facility. In our industry, the ability to access long-tenor, USD-denominated capital is critical. With this facility, we have retired legacy obligations and can now focus fully on curating a seamless experience for our clients across the region. Our facility with TLG substantially reduces the amount of our revenue and cash flow that is spent on interest and debt service."