In The Spotlight
NNPC is planning to sell at least 25% of the equity in select oil and gas fields.
The Nigerian National Petroleum Company Limited (NNPCL) has issued bid calls for investors across the world with an aim to seek partners to share stakes with in some of its assets
These assets besides, the Nigerian operator already shares several assets in the region with international oil companies, including Shell, Chevron, Eni, and TotalEnergies.
Earlier, there had been talks of the NNPC planning to sell at least 25% of the equity it holds in select oil and gas fields. The company is thus realigning its portfolio optimisation strategy by considering divestments as well as stake reductions.
Last date for online registration for interested bidders is 10 January, which will be followed by pre-screening and qualified firms will gain access to a secure virtual data room.
The bidding process will consider prequalification on the basis of technical and financial capacity, followed by document evaluation, negotiations and regulatory approvals.
Nigeria is aiming to boost production capacity and attract investments while targeting incremental growth through production from marginal onshore fields vacated by international oil companies.
NNPC has been consistently maintining its strong growth momentum, with 2025 reporting a profit of over US$3.6bn. The company has put in place a US$60bn investment pipeline for advancing investments across upstream operations and gas infrastructure.
“We are positioning NNPC Limited as a globally competitive energy company capable of delivering sustainable returns while powering the future of Nigeria and Africa,” said Bashir Bayo Ojulari, Group chief executive officer.
Angola is ready for investors.
Shell is considering an agreement with Chevron, whereby the former might acquire stakes in two undeveloped offshore blocks in ultra-deep waters offshore Angola
The Angolan administration's increasing focus on making regulatory reforms to advance a investors-friendly energy sector is bearing fruit as European oil majors are willing to spend billions in sub-Saharan Africa's second-largest crude oil producer after Nigeria. The country aims to maintain production levels above 1 million barrels per day.
“We have signed a farm-in agreement with Cabinda Gulf Oil Company Ltd - a subsidiary of Chevron - to obtain a 35% interest in Block 49 and 50 offshore Angola. The deal has received governmental approval and is pending final legal requirements," Shell said in a statement to Reuters.
This was also confirmed by Chevron as the partners await relevant regulatory approvals.
"New exploration, such as in Angola, is important to sustaining production into the 2030s," said Shell, which aims to boost gas production by 1% through 2030 while maintaining a steady oil output.
Angola is ready for investors as it is set to open a licensing round this year, supported by valuable geological insights from Viridien. The earth data company has recently announced a multi-client seismic reimaging programme over Angola’s highly prospective offshore Block 22.
The 4,300 sq km high-end data set will bring valuable insight into underexplored structures along the Atlantic Hinge zone, following the same trend as the proven Cameia and Golfinho fields.
2025 has recorded the highest average production rate in a decade.
With an aim to advance transparency, the National Oil Corporation (NOC) of Libya has released its average daily crude oil production and total (cumulative) production figures for the past 10 years
According to the table released, 2025 has recorded the highest average production rate in comparison to the last decade, at 1.374 million barrels per day. Total crude oil production for the year reached 501 million barrels, marking a posititve shift in the NOC’s strategy to boost crude oil production rates. The NOC acknowledged the role of the employees at all production sites.
Majors have showed increased interests in the region all throughout 2025. TotalEnergies had kickstarted work on the Waha and Sharara fields, while also exploring opportunities in the Sirte and Murzuq basins. Speaking about the region, the company's senior vice president for the Middle East and North Africa, Julien Pouget, said, “With 40% of Africa’s reserves, Libya remains largely untapped.”
Repsol, too, has resumed drilling in Murzuq Basin onshore Libya. Lauding the region's efforts in fighting natural field decline and encouraging exploration, Repsol's executive managing director, exploration & production, Francisco Gea showed faith in achieving the country's production target of two million barrels per day.
Eni is set to launch three exploration plays in the region – shallow, deepwater and ultra-deep offshore, and is also deeply invested in Libyan gas with the US$10bn Greenstream pipeline and a CO2 capture and storage plant in Mellitah.
The South N’dola Platform is an abundant offshore reservoir.
In a major milestone for Chevron, the South N’dola Platform in Angola has delivered first oil, in a little over two years after construction on the platform began
Situated in Block 0, the South N’dola Platform is an abundant offshore reservoir in the country, accounting for 12% of its daily energy output.
“Underpinned by the prolific Block 0, safely achieving first oil at South N’dola is the latest example of Chevron’s efforts to maximise production from our existing offshore assets in Angola,” said Brent Gros, president of Chevron Offshore Business.
Existing infrastructure was leveraged to push for a sustainable, efficient and cost-effective development of the South N’dola field. With a field-to-production-facility tieback connected to the nearby Mafumeira facility, the processed oil and gas are directly pumped to the terminal for export. This eliminates the need for separate oil and gas processing equipment at South N’dola.
The South N’dola success marks a new chapter in Chevron’s 70-year long history in Angola. It operates two offshore tracts in Angola, Block 0 and deepwater Block 14, through a wholly owned subsidiary, Cabinda Gulf Oil Co. Ltd.
During its construction phase, South N’dola was expected to create more than 800 local jobs, and now that it is producing, it will deliver oil and gas to local Angolan plants.
“Chevron and the Angolan government have worked together for more than 70 years to develop the nation’s thriving energy industry—a fantastic example of how people and partnerships power progress,” said Gros.
TGS has secured more than 100,000 contiguous sq km of modern seismic data.
Energy data and intelligence provider, TGS, has tapped offshore Mauritania and the wider West African Atlantic Margin for a large-scale multi-client 3D seismic project called the Mauritania MegaSurvey
With this initiative, TGS has secured more than 100,000 contiguous square kilometers of modern seismic data, which will add to its existing offshore Mauritania multi-client library. Strategically positioned for extension and integration, the move will allow TGS to give operators easy and one-stop access across the offshore of Mauritania, making possible the regional interpretation of the full source to sink from nearshore to the ultradeep.
For an informed portfolio decision-making, operators can interpret complex regional-scale seismic with continuity across multiple exploration plays, simplifying robust basin screening and prospect maturation. The MegaSurvey's harmonised 3D seismic dataset over a large contiguous area eliminates uncertainties by ensuring confident geological interpretation backed by the clarity of structural and stratigraphic frameworks. Companies can leverage the survey for de-risking acreage evaluation before going ahead with drilling or licensing decisions.
TGS’ interests in the Mauritanian offshore is supported by the Mauritanian Ministry as its advanced datasets make the region attractive for exploration investment opportunities.
David Hajovsky, executive vice president of Multi-Client at TGS, said, “The Mauritania MegaSurvey delivers strategic regional value for our customers. By integrating with broader West African subsurface frameworks, the survey provides deeper insight into basin architecture and petroleum systems along the Atlantic Margin. This regional perspective enables operators to assess Mauritania in the context of neighboring proven and emerging basins, supporting play fairway analysis and a more robust understanding of cross-border geological trends.”
The Mauritania MegaSurvey further strengthens TGS’ multi-client leadership offshore West Africa and complements the company’s extensive portfolio of 2D seismic, 3D seismic, and well data across the region.
The acquisition aligns with Heirs Energies’ long-term strategy.
An indigenous integrated energy company from Africa, Heirs Energies has acquired Maurel & Prom SA's entire 20.07% equity stakes in Seplat Energy Plc at a price of GBP3.05 pence per share, adding to a transaction worth approximately US$500mn
The acquisition aligns with Heirs Energies’ long-term strategy to strengthen indigenous participation in strategic assets and accelerate sustainable energy development and security for Nigeria and Africa.
Commenting on the transaction, Tony Elumelu, Chairman of Heirs Energies, said, “This acquisition reflects our strong belief in Africa’s ability to own, develop, and responsibly manage its strategic resources. It is a long-term investment in Nigeria’s and Africa’s energy future, and aligns with our mission to drive energy security, industrialisation and shared prosperity. Seplat Energy has built a resilient, well-governed platform with compelling long term prospects, and we are pleased to support its continued growth and value creation for all stakeholders.”
This landmark achievement was supported by two leading African financial institutions—Afreximbank and AFC—further demonstrating Africa’s capacity to finance its own deals.
The acquisition aligns with Aradel’s long-term strategy.
Indigenous integrated energy company, Aradel Holdings Plc's wholly-owned subsidiary, Aradel Energy Limited, has completed the acquisition of an additional equity interest in ND Western Limited
With the transaction, Aradel has aquired a 40% equity interest in NDW from Petrolin Trading Ltd. With the completion of the transaction, Aradel Energy Limited’s shareholding interest in NDW increased from 41.67% to 81.67%, and NDW has become a subsidiary of Aradel Energy Limited. This leads to a material increase in Aradel’s aggregate shareholding in Renaissance Africa Energy Company Limited, pushing its total indirect ownership in the company from 33.3% to 53.3%.
NDW holds a 45% participating interest in OML 34, a producing Oil Mining Lease located in the Western Niger Delta and owns 50% of the share capital of Renaissance Africa Energy Holding Company Ltd, the parent company of Renaissance Africa Energy Company Limited which operates the Renaissance Joint Venture.
This acquisition aligns with Aradel’s long-term strategy of disciplined portfolio consolidation, asset base expansion and sustainable value creation. It further strengthens the Company’s position within Nigeria’s upstream oil and gas sector, enhances operational scale, and supports improved efficiency and resilience across the Company’s asset portfolio.
Commenting on the transaction, Adegbite Falade, Chief Executive Officer of Aradel Holdings Plc, said, "The completion of this acquisition represents a further step in the execution of our growth and consolidation strategy. Increasing our equity interest in ND Western reinforces Aradel’s position as a leading indigenous integrated energy company and enhances our ability to drive long-term value for shareholders through scale, operational efficiency, and portfolio optimisation.”
The transaction was completed following the receipt of all requisite regulatory approvals, including approvals from the Nigerian Upstream Petroleum Regulatory Commission and the Federal Competition & Consumer Protection Commission, and is in compliance with all other applicable regulatory, governance, and disclosure requirements.
2025 has recorded the highest average production rate in a decade.
With an aim to advance transparency, the National Oil Corporation (NOC) of Libya has released its average daily crude oil production and total (cumulative) production figures for the past 10 years
According to the table released, 2025 has recorded the highest average production rate in comparison to the last decade, at 1.374 million barrels per day. Total crude oil production for the year reached 501 million barrels, marking a posititve shift in the NOC’s strategy to boost crude oil production rates. The NOC acknowledged the role of the employees at all production sites.
Majors have showed increased interests in the region all throughout 2025. TotalEnergies had kickstarted work on the Waha and Sharara fields, while also exploring opportunities in the Sirte and Murzuq basins. Speaking about the region, the company's senior vice president for the Middle East and North Africa, Julien Pouget, said, “With 40% of Africa’s reserves, Libya remains largely untapped.”
Repsol, too, has resumed drilling in Murzuq Basin onshore Libya. Lauding the region's efforts in fighting natural field decline and encouraging exploration, Repsol's executive managing director, exploration & production, Francisco Gea showed faith in achieving the country's production target of two million barrels per day.
Eni is set to launch three exploration plays in the region – shallow, deepwater and ultra-deep offshore, and is also deeply invested in Libyan gas with the US$10bn Greenstream pipeline and a CO2 capture and storage plant in Mellitah.
NNPC is planning to sell at least 25% of the equity in select oil and gas fields.
Angola is ready for investors.
The 4,300 sq km high-end data set will bring valuable insights. (Image source: Viridien)
As Angola gears up for its upcoming licensing round, Viridien has announced a new multi-client seismic reimaging programme over Angola’s highly prospective offshore Block 22
The 4,300 sq km high-end data set will bring valuable insight into underexplored structures along the Atlantic Hinge zone, following the same trend as the proven Cameia and Golfinho fields. Fast-track results are scheduled for delivery in Q1 2026 and final products in Q3/Q4 2026.
The Block 22 data set will be reimaged by using Viridien's latest proven proprietary technologies, including time-lag FWI, Q-FWI, Q-Kirchhoff and advanced deghosting and demultiple. This data will complement its 2,900 sq km of data over nearby block 20/11, giving operators access to a combined regional coverage of over 7,200 sq km of ultramodern broadband PSDM data to conduct regional pre-salt and post-salt play evaluation in the Kwanza Basin.
Dechun Lin, Head of Earth Data, Viridien, said, “Viridien is delighted to continue its strong relationship with Angola's national energy agency, ANPG (Agência Nacional de Petróleo, Gás e Biocombustíveis), and longstanding presence in Angola by committing to this new reimaging project which will support their important upcoming licensing round. We have the most modern 3D broadband seismic data available offshore Angola and will continue to generate value from it to provide critical support for industry decision-making and help to increase exploration success.”
TGS has secured more than 100,000 contiguous sq km of modern seismic data.
The 3D survey is set to start in December 2025.
The company will deploy technologies integrated with LOGIX automation. (Image source: Halliburton)
Nigeria's HI gas field development will be supported by Halliburton by the way of an integrated drilling services contract for Shell Nigeria Exploration and Production Company (SNEPCo), in collaboration with Sunlink Energies
The HI gas field development, which is part of OML 144, will see Halliburton's services for advancing feed gas supply to the Nigeria LNG Train 7 facility.
"This contract reflects our dedication to deliver integrated solutions that improve performance and efficiency in offshore environments. The company will deploy technologies integrated with LOGIX automation and remote operations to help improve drilling precision, efficiency, and safety in offshore operations. Our collaboration with SNEPCo and Sunlink Energies advances the HI gas field and contributes to the future of the energy industry in Nigeria," said Shannon Slocum, president, Eastern Hemisphere at Halliburton.
Halliburton’s project management team will support the drilling execution and provide integrated services to deliver end-to-end solutions. The company's advanced technology solutions combined with its strong presence in Nigeria will advance the HI Project’s operational and production goals.
The mooring system for the FSO is currently being installed.
This development was marked during the sail away ceremony organised by the company. (Image source: Drydocks)
Initial analysis has indicated an estimated reserves of 15-25 bn cu/ft of gas.
Middle East-based natural gas company, Dana Gas, has made a significant gas discovery following the drilling of the North El-Basant 1 exploratory well in Egypt’s onshore Nile Delta
As the company conducted initial analysis, the well indicated the presence of an estimated reserves of 15-25 bn cu/ft of gas. This encourages production expectations to exceed 8 mn cu/ft per day once the well is connected to the national network.
The promising results come from the fourth of the 11 development and exploration wells under Dana's US$100mn investment programme to support domestic gas production, increase reserves and meet growing energy demand. This programme has been deseigned to boost long-term production, accumulating approximately 80 bn cu/ft in recoverable gas reserves for vast coverage.
The company is now preparing to spud the fifth well in the programme, the Daffodil exploration well, in January 2026.
On the other hand, three wells were recompleted earlier this year, adding 9 mn standard cu/ft per day of production. Drilling and recompletion programmes are adding approximately 30 mn standard cu/ft per day of new production.
Richard Hall, CEO, Dana Gas, said, “The latest drilling success reinforces the value of our investment programme in Egypt and highlights the significant remaining potential within the Nile Delta. The North El Basant-6 result builds on the momentum of our earlier wells and supports our efforts to increase domestic gas supply and reserves. By increasing local gas production, the programme will help reduce Egypt’s reliance on imported LNG and fuel oil and is expected to generate more than one billion dollars in savings for the national economy over time.
“Our agreement with EGAS has enabled us to secure additional acreage under improved fiscal terms and to accelerate this new phase of drilling activity. We appreciate the strong cooperation from EGAS and the Ministry, and we remain committed to delivering the majority of our planned programme next year. Regular and timely payments from our partners are crucial to sustaining our investment programme in Egypt.”
The contract also finalised the delivery of the first phase of OQGN’s hydrogen pipeline network.
TechnipFMC will manufacture and install flowlines and risers.
The refinery will gear Zambia's downstream growth. (Image source: IDC)
China Zambia Petrochemical Corporation will push ahead with its US$1.1bn crude oil refinery project in Ndola as it has received the Investment License from the Zambia Development Agency
A Special Purpose Vehicle jointly established by the Industrial Development Corporation and Fujian Xiang Xin Corporation, China Zambia Petrochemical Corporation will advance the refinery project as a significant driver of employment generation and economic stability in the region, making a positive difference for the rapidly evolving Ndola Industrial Zone. During the construction phase alone, the refinery will create more than 2,200 jobs. Once operational, it will sustain more than 600 direct and over 2,000 indirect jobs, with comprehensive skills-transfer and certified training programmes designed to build a highly capable local workforce with expertise in advanced petrochemical operations. This will solidify Zambia's energy security and stabilise fuel supply as the country will not have to rely as hevily on the import of refined petroleum products.
Set to begin operations starting next year, the refinery is expected to process 3 mn tonnes of crude oil annually. This staggering quantity will not only surpass Zambia's national fuel demand but also easily cover regional export markets.
An integrated energy complex, the refinery will gear Zambia's downstream growth, ranging from LPG bottling and bitumen production to lubricants blending. Additional spill over investments are anticipated in storage infrastructure, rail upgrades, and feedstock supply for manufacturing plastics, fertilisers, synthetic materials, and asphalt. Small and medium enterprises (SMEs) are expected to benefit significantly through opportunities in logistics, maintenance, catering, and specialised support services.
"Today's handover of the Investment License marks a decisive shift from commitment to execution. This project is a cornerstone of our industrialisation strategy and a timely response to the country's need for affordable, reliable, and locally produced energy. Through CZPC, we are driving a transformative venture that will create jobs, enhance national self-sufficiency, and support long-term economic growth," said IDC CEO Mr Cornwell Muleya.
"FJXX is honoured to advance this project into its implementation phase in partnership with the Government of Zambia through IDC. With more than two decades of Industrial experience, we are committed to deploying advanced engineering technologies that will deliver a world-class refinery for the benefit of the Zambian people and the broader region," said Mr Huang Tieming, Chairperson of Fujian Xiang Xin Corporation (FJXX).
The refinery will revitalise Ghana's downstream petroleum sector.
Vitol Bahrain EC has a long-standing presence in Uganda's downstream sector.
The theme for ADIPEC 2025, "Energy. Intelligence. Impact." (Image source: dmg events)
ADIPEC 2025 will take place in Abu Dhabi, UAE, from 3-6 November 2025, with an expanded conference and exhibition programme aimed at addressing the challenges facing the global energy sector
The event will focus on two critical imperatives: building resilience in the energy system and scaling transformative solutions to accelerate global progress.
The theme for ADIPEC 2025, "Energy. Intelligence. Impact.", underscores the need for secure energy to drive inclusive growth, the intelligence to navigate the complexities of today's energy landscape, and the impact that translates vision into tangible progress for markets, people, and the planet. Over the course of four days, the event will explore four key themes, from new energy technologies and geopolitics to digital transformation and building a resilient, future-ready energy system.
This year, the ADIPEC conferences have been streamlined into two comprehensive programmes: the Strategic Conference and the Technical Conference. The event will feature over 380 sessions, with more than 1,800 speakers, including ministers, CEOs, academics, industry experts, and youth leaders. The aim is to turn dialogue into action by showcasing solutions and catalysing collaborations that drive real, measurable impact across the energy sector. The platform will promote intelligent choices, focusing on leveraging all viable energy sources and technologies to build sustainable systems that can deliver energy to more people, at lower cost, and with reduced carbon emissions.
The ADIPEC 2025 Exhibition will span 17 halls and host more than 2,250 exhibitors from across the global energy ecosystem, including 54 National Oil Companies (NOCs), International Oil Companies (IOCs), National Energy Companies (NECs), and International Energy Companies (IECs). It will also feature 30 dedicated country pavilions and four specialised industry zones focused on decarbonisation, digitalisation, maritime and logistics, and artificial intelligence.
ADIPEC 2025 is expected to attract more than 205,000 attendees from around the world, creating unique opportunities for collaboration, innovation, and progress within the energy sector.
Christopher Hudson, President of dmg events. (Image source: dmg events)
The partnership aims to tackle mounting concerns in global energy markets.
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NNPC is planning to sell at least 25% of the equity in select oil and gas fields.
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Angola is ready for investors.
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2025 has recorded the highest average production rate in a decade.
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The South N’dola Platform is an abundant offshore reservoir.
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TGS has secured more than 100,000 contiguous sq km of modern seismic data.
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The acquisition aligns with Heirs Energies’ long-term strategy.
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The acquisition aligns with Aradel’s long-term strategy.
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The refinery will revitalise Ghana's downstream petroleum sector.
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Vitol Bahrain EC has a long-standing presence in Uganda's downstream sector.
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NUPRC appoints new chief executive.
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National Energy Compact will have a significant contribution in advancing the Mission 300.
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The partnership signifies the region's exploration expansion. (Image source: Egypt's Ministry of Petroleum and Mineral Resources)
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The 3D survey is set to start in December 2025.
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TechnipFMC will manufacture and install flowlines and risers.
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The company will be conducting a production test on Kavango West 1X.
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Initial analysis has indicated an estimated reserves of 15-25 bn cu/ft of gas.
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The mooring system for the FSO is currently being installed.
This development was marked during the sail away ceremony organised by the company. (Image source: Drydocks)
The company will deploy technologies integrated with LOGIX automation. (Image source: Halliburton)
The Begonia field is located in Block 17/06, approximately 150 kilometers off the coast of Angola.
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