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The infill well might add to the FSO capacity. (Image source: Vaalco Energy)

Exploration

To reach optimised production results, Vaalco Energy has begun the spudding of the ET-15 infill well on the Etame platform as part of Phase Three Drilling Programme offshore Gabon

This infill well is anticipated to significantly add to the production generation capacity of the floating storage and offloading vessel (FSO) that is operational on the Etame Block since 2022 following an extensive transition and field reconfiguration process. While a low cost solution, the FSO boasts of a high storage capacity and improved operational performance. It has helped Vaalco reach  operational excellence, and production uptime and enhancement.

George Maxwell, Vaalco’s Chief Executive Officer, commented, “We are excited to commence our drilling campaign in offshore Gabon and are beginning the near-term series of value creation catalysts that we outlined to the market in our Capital Markets Day presentation this past May. The drilling rig arrived in late November, and we have spud our first well, the ET-15. We are initiating the programme at the Etame platform with this infill well and the pilot holes. After drilling at the Etame platform, we expect to move the rig to the SEENT and Ebouri platforms where we have several wells and workovers planned to enhance production, lower costs and potentially add reserves. As we enter 2026, with major projects underway in both Gabon and Côte d’Ivoire, we are looking to drive meaningful growth that we believe will translate into value for our shareholders for the remainder of the decade.”

As previously announced, the Company secured a drilling rig in December 2024 in conjunction with its Phase Three Drilling Programme, with an affiliate of Borr Drilling. 

BW Energy has drilled the Kharas-1 appraisal well.

Geology & Geophysics

BW Energy has drilled the Kharas-1 appraisal well in the Kudu license area, offshore Namibia, at a total depth of 5,100 m and intersected multiple reservoir intervals

With drilling completed, the well will now be plugged and abandoned in line with the planned programme.

The well has revealed multiple shallow turbidite reservoirs with dry-gas shows, and reservoir properties from these and the acquired whole core are now being evaluated.

Hydrocarbons were encountered in deep inside a fractured volcaniclastic reservoir, pointing to a working petroleum system with condensate and/or light oil. Further analysis is ongoing to determine the extent
of the system and to characterise reservoir properties and appraisal options.

"Kharas-1 achieved its technical objective of testing multiple targets within a single penetration and delivered valuable geological, geochemical and petrophysical data. The results also confirm, for the first time, the presence of liquid hydrocarbons within the Kudu block and contribute to our understanding of the broader petroleum system. The reservoir complexity necessitates further appraisal to assess its potential. Our forward programme will focus on further high value targets based on the presence of liquid hydrocarbons, as well as gas and the learnings from Kharas-1A," said CEO Carl Arnet.

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 FLNG Nguya is a work of technological innovation. (Image source: Eni)

Gas

The Congo LNG project by Eni advances to Phase 2 with gas introduced into the new offshore infrastructure system and the Nguya FLNG floating liquefaction unit ready to support operations

Moving ahead of the schedule as a result of rigorous industrial planning, Eni is aiming export of the first LNG cargo early next year. 

Alongside the FLNG unit for liquefaction and export, the project's massive capacity of 3 mn tonnes per annum will be supported by three production platforms, and the Scarabeo 5 unit dedicated to gas treatment and compression.

Linked to the offshore Nené and Litchendjili fields in the Marine XII license, the integrated configuration will develop vast gas resources from the region, tackling the volumes in a phased manner to ensure flexibility and a steady flow to both the Tango FLNG unit, operational since late 2023, and the Nguya FLNG. 

A work of technological innovation, the 376m-long and 60m-wide Nguya FLNG is an optimised and sustainable unit that not only process gas with varried compositions but can also support additional field development.

Meanwhile, the Scarabeo 5 unit too is equipped with decarbonisation-oriented solutions. The unit was repurposed from a drilling rig into a gas treatment, separation, and compression unit. 

Carried out majorly in Congo, the project was largely led by local stakeholders. 

 

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.