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Eni has exercised its pre-emption right.

Exploration

Nigeria Agip Exploration Limited-subsidiary Eni has acquired an additional 2.5% stake in the OML 118 production sharing contract that contains the Bonga field

The oil major has exercised its pre-emption right to make this acquisition. NAE holds non-operating interests in the OML118. 

Following the transaction, which has received all necessary regulatory approvals, NAE's share in OML 118 PSC increased from 12.5% to 15%. This acquisition is fully aligned with Eni’s strategy to optimise its upstream portfolio and further strengthens the company’s commitment to deepwater projects in the country.

The divestment is now completed as the transaction has been made for an aggregated amount of US$510mn.

Eni has been present in Nigeria since 1962, with an average equity production of 50 Kboed in 2025. 

Corcel will be initiating a significant data integration campaign with BGP.

Geology & Geophysics

Corcel Plc will commence 2D seismic acquisition operations in the KON-16 Block onshore Angola in partnership with BGP Geophysical Limitada, LDA, and BGP INC., China National Petroleum Corporation (BGP), following the ministerial approval of the Environmental Impact Assessment (EIA)

The new set of 326 line-km seismic data that will be acquired by BGP will add to the 2,589 line-km of good quality 2D data acquired in 2010 and reprocessed in 2025. This will boost seismic coverage from the KON-16 area by a starking 227%, ensuring fine subsurface imaging and prospect definition.

Before KON-16's status can be declared drill-ready, Corcel will be initiating a significant data integration campaign with BGP, starting with the legacy 1970's 2D data, right through the modern 2010 2D seismic data (which was recently reprocessed), to the 2024 eFTG data. While current modern 2D line spacing averages >14 km in the areas of interest, identifying prospectivity, the partners are anticipating a closer 2D line spacing for drilling to begin.

Set for early 2026, initial results from the seismic processing is expected by Q3 2026. 

As the company is anticipating drilling a high-impact well within KON-16, Richard Lane, Corcel COO, said, "Receiving approval to conduct both seismic acquisition and exploration drilling activities within the KON-16 block is a major milestone for Corcel, setting us on the path to drilling a high-impact exploration well. We are also very excited to have signed the seismic acquisition contract with BGP - another major milestone - marking Corcel's first significant operational activity as operator of the KON-16 block. The mobilisation of the seismic team and the imminent start of the seismic program signal the real start of on-the-ground operations. This is an important step for Corcel as we move from planning to execution, and we look forward to keeping shareholders updated as activity ramps up."

The company will deploy technologies integrated with LOGIX automation. (Image source: Halliburton)

Technology

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 plant will play a pivotal role in advancing Angola as a global natural gas player.

Gas

The New Gas Consortium's Gas Treatment Plant in Soyo, northern Angola, has been inaugurated by NGC operator, Azule Energy, a joint venture between Eni and bp

The inauguration was attended by the President of the Republic of Angola, João Gonçalves Lourenço, alongside the Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, and the Chairman of the Board of Angola’s National Oil and Gas Agency (ANPG), Paulino Jeronimo.

Initially led by Eni before the Azule Energy was formed, the NGC project is the country’s first non-associated gas development, with a processing capacity of approximately 400 mn standard cu/ft of gas per day (MMscfd) and 20,000 barrels of condensate per day. Gas is sourced from the offshore Quiluma and Maboqueiro fields, treated and then supplied to the Angola LNG plant for export and domestic consumption.

The plant will play a pivotal role in advancing Angola as a strategic player in the global natural gas market, while also supporting the country's energy diversification and responsible resource development, enabling growth in other key sectors such as fertiliser production for agriculture.

The gas treatment plant entered the commissioning phase with gas in November 2025, marking the beginning of operations for the NGC project. The project was delivered in a record 24-months, six months ahead of the sanctioned schedule.

The New Gas Consortium is operated by Azule Energy with 37.4% participation, in partnership with Cabinda Gulf Oil Company (CABGOC) with 31%, Sonangol E&P with 19.8%, TotalEnergies with 11.8%, and ANPG as the National Concessionaire.

Major refinery projects are underway in Africa. (Image source: Adobe Stock)

Downstream

Major refining projects  are set to transform Africa’s energy landscape and boost self-suffciency

Africa is set to add 1.2mn barrels per day (bpd) of new refining capacity by 2030, representing one of the fastest downstream expansions globally, according to the newly released 2025 OPEC World Oil Outlook.

At the forefront of Africa’s refining expansion is Nigeria’s 650,000-bpd Dangote Refinery, which began operations in 2024 and is already reshaping regional fuel trade dynamics. Further developments include the 200,000-bpd Akwa Ibom Refinery, also in Nigeria, and Angola’s state-driven push to bring online the 200,000-bpd Lobito Refinery and 100,000-bpd Soyo Refinery by 2030.

Uganda’s refining ambitions are taking shape with a 60,000-bpd facility in Hoima, part of the country’s broader Lake Albert basin development plan, while modular refinery projects in Ghana, Guinea-Conakry, the Republic of Congo and additional sites in Nigeria are buiding capacity in markets where infrastructure and financing hurdles persist. In North Africa, Algeria (Hassi Messaoud), Libya (Ubari) and Egypt (Soukhna) are all advancing refinery projects aimed at capturing higher margins, improving domestic supply security and reducing dependency on imports of refined petroleum products.

According to OPEC, Africa will need over US$40bn in refining investments by 2030 to meet its mid-decade objectives, and beyond that, an additional US$60+ billion for refinery construction, modernisation and secondary processing capacity upgrades. This opens a US$100 billion investment opportunity for project developers, institutional investors, sovereign wealth funds and energy-focused private equity.

Africa’s rising domestic consumption of crude – forecast to reach 4.5 million bpd by 2050 from just 1.8 million bpd in 2024 – further underlines the need for investing in downstream infrastructure.
If the continent seizes this momentum, it can move beyond being a raw crude exporter to becoming a competitive, resilient and integrated energy producer.

The 2025 edition of African Energy Week (AEW): Invest in African Energies in Cape Town will provide a platform for governments, operators and financiers to align on next-phase refinery projects, policy incentives and deal pipelines, as countries seek to reduce costly imports and capture more value from domestic crude,

The theme for ADIPEC 2025, "Energy. Intelligence. Impact." (Image source: dmg events)

Event News

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.