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Afentra will jointly acquire, alongside Etablissements Maurel & Prom S.A. (M&P), Etu Energias SA 10% interest in Blocks 3/05 and 13.33% interest in Block 3/05A offshore Angola

The company has entered into a sale and purchase agreement with Etu for its 50% share of the acquisition, awaiting customary conditions including government approval. 

With this acquisition, Afentra is prioritising restoring the very material upside of this multi-billion barrel offshore asset through a solid joint venture partnership. It is focusing on consistent value creation through disciplined transaction structures, combining modest upfront consideration with success-based contingent payments aligned to oil price and asset performance.

Paul McDade, chief executive officer of Afentra plc, said, "We are pleased to have signed this SPA with Etu Energias, providing Afentra with additional interest on similar terms to our previous transactions in Blocks 3/05 and 3/05A. This transaction enhances the alignment within the joint venture and reinforces our exposure to these high-quality production and development assets that continue to perform strongly as the partners demonstrate the ability to realise the upside of these world-class assets. The structure of the transaction reflects our disciplined approach to capital deployment, combining a modest upfront payment with a value-linked contingent consideration. We look forward to continuing to work closely with Sonangol and M&P to deliver the material upside in these assets providing long-term value for all stakeholders."

DUG has released the latest results from its elastic multi-parameter full waveform inversion (MP-FWI) imaging technology which it launched in 2022, since when more than 70 successful projects have been completed worldwide

DUG Elastic MP-FWI Imaging is a unique approach to seismic processing and imaging which is not only a complete replacement for the traditional processing and imaging workflows, it also replaces the subsequent inversion workflow for elastic rock properties.

With the traditional processing workflow, projects can take many months to years to complete. It involves the testing and application of dozens of steps such as deghosting, designature, demultiple and regularisation, all designed to overcome the limitations of conventional imaging. These workflows are complex, subjective, and very time-consuming and they rely on many assumptions and simplifications. All of these issues impact the output data quality. The resulting, primary-only data then undergoes a similarly complex model-building workflow to derive an estimate of the subsurface velocity, which is used for depth imaging. Post-migration processing is performed before the pre-stack reflectivity undergoes another workflow to derive rock properties that feed into interpretation, also relying on simplifications of the actual physics.

As well as three-component reflectivity and velocity, DUG Elastic MP-FWI Imaging enables the estimation of fundamental rock properties like P-impedance, density and Vp/Vs from field data, without the need for a secondary amplitude variation with angle (AVA) inversion step. DUG Elastic MP-FWI Imaging simultaneously resolves not only subsurface structural features but also quantitative rock property information while avoiding the need for extensive data pre-processing and (post-imaging) AVA-inversion workflows.

“Elastic MP-FWI Imaging accounts for both compressional and shear waves, handling variations in seismic wave dynamics as a function of incidence angle, including in the presence of high impedance contrasts and onshore near-surface geological complexity,” said Tom Rayment, DUG chief geophysicist. “Multiples and converted waves are now treated as valuable additional signal, increasing sampling, resolution and constraining the inverted parameters.”

DUG managing director, Dr Matthew Lamont, added, “We have invested over a decade of R&D to realise this opportunity. Our new Elastic MP-FWI Imaging technology is the product of a multi-year, significant and ongoing R&D effort, which has seen the continuous integration of complete-physics FWI imaging including viscoelasticity, anisotropy and multi-parameter updates. When using the full wavefield for simultaneous velocity model building, rock property inversion and true-amplitude imaging, a multi-parameter solution is a necessity.”

“The fact that DUG MP-FWI Imaging is delivering material imaging uplifts using field-data input is very powerful, but to couple this with high-resolution elastic rock property outputs for quantitative interpretation is even more exciting, providing immediate opportunities for new surveys and maximising the value of legacy datasets,” said Martin Stupel, geophysical manager, Geophysical Pursuit Inc.

Energy technology company, SLB has launched Sequestri carbon storage solutions for the most effective project delivery 

Since long-term carbon storage demands a calculated approach, the new portfolio gives customised hardware and digital workflows for improved decision-making across the full carbon storage value chain, from site selection and planning to development, operations and monitoring.

“Advanced technology solutions have a crucial role to play in shifting the economics and safeguarding the integrity of carbon storage projects,” said Katherine Rojas, SLB’s senior vice president of Industrial Decarbonisation. “The Sequestri portfolio offers a comprehensive suite of solutions that provide the precision, reliability and efficiency needed to advance carbon storage projects at every stage of their lifecycle — driving meaningful progress toward industrial decarbonisation at scale.”

The Sequestri portfolio is anchored by a network of interconnected digital technologies and services for carbon storage that provide a robust foundation for analysis and prediction. These end-to-end digital technologies harness more than 25 years of carbon capture and storage (CCS) project experience to help developers screen, rank, design, model, simulate and analyse every phase of the project lifecycle. The portfolio also includes a range of technologies which have been specifically engineered and qualified for carbon storage applications, from subsurface safety valves and measurement tools to cementing systems, including SLB’s EverCRETE CO₂-resistant cement system.

The Sequestri portfolio of carbon storage solutions, together with the SLB Capturi standard, modular carbon capture solutions, provide emitters and project developers with a full suite of complementary CCS solutions to enable decarbonisation at scale from point of capture to permanent carbon storage.

Africa is at a turning point in its energy journey

As cities expand and industries grow, the demand for electricity is rising fast. By 2040, Africa will need nearly 1,200 gigawatts of power, yet 600 million people still lack electricity, holding back development, healthcare, and education.

This creates a major challenge: How can Africa expand energy access without locking itself into high-emission fuels? The solution must balance affordability, sustainability, and reliability. While solar and wind power are critical, most countries lack the infrastructure to rely on them alone. Grids must remain stable, industries need steady energy, and cross-border trade requires a consistent supply. Natural gas plays a vital role in this—acting as a bridge to cleaner energy while meeting urgent electricity needs.

Africa houses about 7% of the world’s proven natural gas reserves, and production has increased by over 70% since 2000, with forecasts predicting 520 bn cu/m by 2050.

Several African countries are already benefiting from utilising natural gas reserves.

Nigeria, Africa’s largest gas producer, has over 200 trillion cu/ft of reserves, supporting millions of jobs across extraction, processing, and transportation. The Greater Tortue Ahmeyim (GTA) project in Senegal and Mauritania is attracting billions in investment, strengthening energy security. South Africa, facing a “gas cliff” due to declining imports, is exploring its local reserves to protect industrial growth. Mozambique’s Coral Sul floating LNG platform has already started production, with revenue projections reaching around US$70mn annually between 2025 and 2027. Meanwhile, the Mozambique LNG and Rovuma LNG projects hold immense potential, boasting over 100 trillion cu/ft of recoverable gas, though they remain in early development stages.

Many African countries produce only a small fraction of global emissions, yet they withstand the worst of climate change, facing extreme droughts, floods, and food insecurity. Expecting them to abandon fossil fuels without practical alternatives could slow economic development and widen inequalities. A fair energy transition must acknowledge that countries have different economic conditions and needs than major polluters. The shift to cleaner energy must be structured in a way that allows Africa to grow sustainably without compromising its ability to provide reliable power, create jobs, and strengthen its industries.

Currently, many African countries don’t have the infrastructure to rely on renewables alone. Power grids are weak, underfunded, and often unreliable. The main challenge with solar and wind energy is that they depend on the weather. If the sun isn’t shining or the wind isn’t blowing, power generation drops, causing disruptions. Batteries can store excess energy for later use, but large-scale storage technology is still too expensive and not widely available.

This is where natural gas plays a crucial role. Natural gas and renewables complement each other to form a balanced and resilient energy mix. Gas provides the flexibility to fill in the gaps when renewable output is low, ensuring a constant and stable electricity supply. Additionally, gas-fired plants can ramp up quickly to meet demand and are more responsive than coal, making them ideal partners for intermittent energy sources.

It is noteworthy that the infrastructure built for natural gas today, such as pipelines and generation facilities, can even be repurposed to carry cleaner fuels like green hydrogen. This synergy allows African countries to continue scaling up renewables with confidence, knowing that natural gas is there to provide reliability, bridge energy gaps, and support the transition toward a low-carbon future.

Natural gas has been a key transitional energy source worldwide. In Africa, its role is even more critical. The continent has vast gas reserves, yet much of its potential remains untapped due to limited infrastructure investment and regulatory uncertainty. If developed strategically, natural gas can drive industrial growth, strengthen energy security, and create the capacity needed for long-term investment in renewable energy. However, unlocking this potential requires coordinated action.

Expanding gas infrastructure requires long-term investment in pipelines, processing plants, and export terminals, which take years to build. Investors need policy clarity and predictable returns, so governments must offer stable tax structures, licensing agreements, and local value retention policies to keep revenues in African economies.

Africa’s energy future must grow in a way that works for its people. Electricity must remain accessible for homes, businesses, and industries while innovative technologies develop. This is not a choice between gas and renewables - it is about using the right tools at the right time. Natural gas is a cornerstone of an orderly and just transition.

With careful planning, natural gas can support Africa’s economy today while building the foundation for a cleaner, more resilient future.

The writer of the article is Adrian Strydom, chief executive officer of the South African Oil and Gas Alliance

A thriving local refining sector requires a skilled workforce, which translates into job creation across various levels, from engineers and technicians to construction workers and administrative staff

The development of local refineries can also stimulate growth in related industries, such as transportation, logistics and service sectors, further amplifying employment opportunities.

Building a robust petrochemicals industry enables countries to diversify their economies. Petrochemicals serve as essential inputs for numerous sectors, including agriculture (fertilisers), manufacturing (plastics), and pharmaceuticals. By investing in this industry, countries can reduce their reliance on a single commodity – oil – and create a more resilient economic structure.

By minimising crude oil exports and focusing on value addition, nations can create jobs and stimulate economic growth. This comprehensive strategy not only enhances national wealth but also contributes to the overall well-being of African populations, aligning economic success with social progress.

The concept of ‘profit versus purpose’ serves as a guiding principle in the ongoing debate about energy policy. This framework integrates economic objectives with social and environmental goals, demonstrating that financial success and societal benefit are not mutually exclusive. By prioritising investments that address energy poverty and promote social equity, businesses can contribute to the continent's sustainable development while remaining economically viable.

Investing in energy solutions in underserved regions presents unique challenges, including high initial costs and limited access to traditional financing. However, these challenges also create opportunities for innovative financing mechanisms. Multilateral finance institutions and climate finance initiatives can play the central role in mobilising resources and sharing financial burdens.

Shared value mechanisms allow companies to align their business operations with social impact goals, unlocking new market opportunities while addressing critical issues like energy access. Investing in off-grid renewable energy solutions, for instance, can enable companies to tackle energy poverty while expanding their market reach.

The pathway to unlocking Africa’s oil and gas potential lies in balancing effective governance with the principles of profit for purpose. African governments must create policies that not only attract sustainable investment but also prioritise the welfare of their citizens.

By implementing transparent frameworks, favourable fiscal terms, and innovative financing models, African countries can harness their natural resources for the greater good. This collective responsibility to promote sustainable development will ensure that the benefits of oil and gas investments extend beyond profit, enriching communities and driving long-term economic growth across the continent. 

This is the last of a two-part article written by Taona Kokera, director - head of infrastructure finance advisory at Forvis Mazars in South Africa

As Africa is zooming in on brownfield sites for maximum oil recovery, artificial intelligence and machine learning technologies are fuelling the industry's optimisation goals

Redifining operational efficiency by extending field life and maximising output, AI is set to move the oil and gas industry at a US$6.4bn market value by 2030.

As major operators increasingly adopt AI, global oilfield technology companies like Baker Hughes, Halliburton or SLB have opened bases in Africa. SLB's technology is backing several billion-dollar oil projects in Angola, and has introduced the Africa Performance Centre in Luanda this year. It has a strong presence in other regions of Africa as well.

Repsol has several developments underway in Libya, Algeria and Morocco and strives to bolster production across these markets. 

Enhanced oil recovery is currently witnessing a disruption as AI has unlocked access to large datasets which is unimaginable with traditional systems. This makes a huge difference for operators in taking the right decisions. With deep geological and production data in hand, reservoir management and pattern identification become much simpler. 

AI is now way past the experimental stage, and is being adopted on a policy level as well. Many African countries are streamlining policy to support EOR at legacy assets. Angola, for example, implemented its Incremental Production Initiative in 2024 which offers tax incentives to encourage reinvestments in mature oilfields. Energy major ExxonMobil made the first discovery – the Likembe-01 well - as part of the initiative in 2024, demonstrating the role policy plays in unlocking incremental resources. The African Union Commission also declared AI as a strategic priority for the continent in May 2025, citing the role machine-learning plays in transforming the continent’s development trajectory. 

These topics will drive conversations at the African Energy Week (AEW): Invest in African Energies 2025 that will be taking place from 29 September 29 to 3 October in Cape Town.