In The Spotlight
Local content in Namibia was first considered at a policy level in 2021, until back to back Orange Basin discoveries the year after pushed the Cabinet to formally sanction the structured development of a comprehensive framework
Thanks to high-profile discoveries like Shell's Graff-1 and TotalEnergies' Venus-1X fields, the sudden inflow of substantial foreign capital required channelising in a way that keeps benefiting Namibian locals across generations; this was addressed in the new framework. Following years of nation-wide consultations at both ministerial and industrial levels, the Cabinet has now approved the National Upstream Petroleum Local Content Policy. This will ensure legal security for local participation across the upstream petroleum value chain.
Namibia Oil and Gas Conference and Exhibition
Local content set the tone for the recently held Namibia Oil and Gas Conference and Exhibition (NOGC) in Windhoek, and factors that drove the sessions and conversations included:
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Capitalisation of petroleum opportunity
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Generation of long-term national value
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Advancing investments and businesses
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Skills and jobs creation
“Discovery is not the destination. A resource beneath our waters becomes a national success only when it is responsibly developed and translated into tangible improvements in the lives of our people. It must become employment for Namibians, opportunities for our enterprises, skills for our young people, technology for our institutions, infrastructure for our economy, revenues for national development, and savings for future generations. This is why the theme of this conference is particularly appropriate,” said Lucia Witbooi, Vice President of the Republic of Namibia.
From Decision to Dividend: Making Namibia’s Oil Work for Namibians was the theme for the three-day conference hosted by the Economic Association of Namibia (EAN) in partnership with the Hanns Seidel Foundation (HSF) and the Namibia Investment Promotion and Development Board (NIPDB), with strategic partners the National Petroleum Corporation of Namibia (NAMCOR) and SNC Incorporated. The conference was officially endorsed by the Ministry of Industries, Mines and Energy.
“Our strategic plan for 2026 to 2030 carries one organising idea, which is to move this country from exploration to readiness, so that Namibia is ready onshore when production begins offshore. Namibia expects Namibian employment to be maximised, Namibian suppliers prioritised, skills and technology transferred, and meaningful Namibian participation, ownership and financing across the value chain.
"Fiscal certainty is a stable and transparent framework for petroleum revenues. Namibia does not move the goalposts. To our international partners: local content, properly done, is not a tax on your investment. An industry surrounded by capable Namibian suppliers, skilled Namibian workers and invested Namibian communities is an industry with social licence, political stability and a future measured in generations. That is what the policy builds, and my ministry will implement it with you, not against you. I am happy to state that our local banks have informed me that they are ready to receive bankable proposals from the oil and gas sector for their consideration,” said Modestus Amutse, the Minister of Industries, Mines and Energy.
From exploration to development
Namibia is currently transitioning from exploration towards development, and local content remains the core of this journey. The administration is increasingly focusing on:
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Enterprise participation
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Skills exchange and development
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Infrastructure building
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Financing and investment
“Oil is not the point; oil is actually the how. Our people are the why,” said Jason Kasuto, chairperson of the Economic Association of Namibia and managing director of Monasa Advisory & Associates.
The event saw Namibian business persons and policymakers strategising on ways to advance local participation at the Local Content Masterclass segment. There was also the NIPDB Local Content Pitching Session, where entrepreneurs pitched concepts and sought partnership opportunities with industry leaders and investors. Supplier workshops educated domestic businesses on international industry standards as the means to expand influence.
It has been more than a decade since Ivory Coast began thinking on an international scale to capitalise on its rich deepwater resources
This phase involved a complete overhaul of its legacy petroleum laws which were reframed with global investors' interests in focus. Petroleum sharing contracts became the standard default vehicle, generous cost-oil recovery limits were introduced, and profit-oil split brackets and royalty tax structures became clearly defined.
Global offshore influence
World-class discoveries by Italian major Eni like Baleine and Calao followed soon after, and these deepwater developments of immense scale were achieved in record two years -- a feat previously unheard of. Vaalco Energy brought the Baobab field in Block Cl-40 online early this year with license extension through 2038 for development drilling plans. In May, Viridien started CDI25 -- a seismic reimaging project in the Tano Basin, Ivory Coast, which will be a drill-ready multi-client dataset for explorers. Ivory Coast's offshore influence as a coveted destination for global operators shot up, thanks to its administrative overhaul.
Banking on this investor-friendly environment, Panoro Energy has been the latest to enter Ivory Coast with the acquisition of DNO's entire 9.09 per cent interest in offshore Block CI-27.
New player in high quality, gas producing Block CI-27
Panoro Energy sees the gas producing block as high-quality and anticipates more than 20,000 boepd from it in terms of group production. It will increase pro forma group production by ~23 per cent and group 2P reserves by ~11 per cent.
As Ivory Coast's largest reserves of non-associated gas, Block CI-27 powers the country's largest city and economic capital, Abidjan. This high profile Block, however, generates yield at a unit cost as low as US$6/boe from four offshore fields (Foxtrot, Mahi, Manta and Marlin) tied back to two fixed platforms.
This entry adds to Panoro's upstream ambitions in Africa, marking the beginning of its long-term interests in Ivory Coast, which might surpass Block CI-27. The Block gives Panoro the perfect gateway to one of Africa's strongest hydrocarbon regions, promising high output at low cost with well managed gas and liquids production and reserves.
In 2025, Block CI-27 produced 195 MMscfd, meeting more than 70 per cent of the country’s gas demand. Operator, Foxtrot International, has initiated a five well infill drilling campaign for enhanced recovery, sustaining production plateau around the 190 to 200 MMscfd level with scope to increase to around 230 MMscfd dependant on demand.
Gross remaining reserves are estimated at 540 Bscf and 5 MMbbls with a further 380 Bscf and 9 MMbbls of resources offering material reserve replacement and growth opportunities in the future, holding potential to produce well beyond the current PSC term.
Block CI-27 is privately held Foxtrot whose principal business is a 27.27 per cent effective participating interest. DNO CI LLC holds an indirect 33.33 per cent interest in Foxtrot International and therefore an indirect 9.09 per cent interest in the Asset. Other joint-venture partners in the Asset include PETROCI and SECI S.A
Made for a consideration of US$80mn on a cash free / debt free basis, the transaction will be financed through a combination of equity, comprising seven million new Panoro shares for DNO, and debt of a fully placed US$50mn senior unsecured bond issuance.
Diversifying Panoro's African portfolio
“This high-quality acquisition represents a continuation of Panoro’s strongly accretive growth strategy and follows the transformational acquisition of an additional interest in Block G offshore Equatorial Guinea from Kosmos Energy which we announced in February and completed in June 2026. The addition of an indirect 9.09 per cent interest in Block CI-27 offshore Ivory Coast brings material reserves and production to Panoro, while further diversifying our African portfolio both geographically and from a commodity perspective through long-life, gas-weighted production supported by stable, low-volatility pricing and sales arrangements that are de-linked from oil prices.
"Our new entry into Ivory Coast, one of the fastest growing economies in West Africa, is particularly attractive given the country’s strong private investment, structural economic diversification and expanding hydrocarbon sector, all of which provide long-term support for this strategic acquisition and follow-on growth opportunities in country as and when they arise.
"We look forward to establishing an excellent cooperation with the field partners including the operator Foxtrot International, the national oil company of Ivory Coast PETROCI, SECI SA and also the Ministry of Mines, Petroleum and Energy.
"Importantly, this landmark acquisition is accretive for Panoro shareholders on all standard industry metrics and will further enhance our ambition to continue delivering long-term, sustainable shareholder returns,” said Julien Balkany, executive chairman of Panoro.
Chevron Corporation-subsidiary, Cabinda Gulf Oil Company Limited (CABGOC), has discovered oil and gas condensate at the 105-4X exploration well in Block 0 offshore Angola
Drilled in the prolific Lower Congo Basin, the well encountered an oil and gas condensate column of more than 600 meters (2,000 feet) in the primary Pinda reservoir, with more than 90 meters (300 feet) of net pay in excellent reservoir quality.
In line with its optimised production approach, Chevron will be assessing the tie-back potential of the discovery as the major has existing facilities nearby.
“This discovery is another important milestone for Chevron’s over 70-year history in Angola,” said Kevin McLachlan, vice president - exploration, Chevron. “By combining high-impact exploration with infrastructure-led opportunities close to existing facilities, we are growing our resource base, creating value, and demonstrating that our strategy is delivering, as well as our continued confidence in Angola’s resource potential.”
Block 0 is operated by CABGOC, which holds a 39.2 per cent working interest, and is co-owned by Sonangol E&P (41 percent working interest), TotalEnergies (10 percent working interest) and Azule Energy (9.8 percent working interest).
This discovery will significantly add to Chevron's well-established exploration programme in sub-Saharan Africa, from where it sources a combined production count of 300 thousand barrels of oil equivalent per day net. Existing resource base and active exploration programme across the region is positioned to sustain and grow production into the future.
Over the last year, Chevron has been focussed on selecting high quality exploration acreage from Africa to its existing portfolio. In Nigeria, the company farmed into two offshore blocks last year (PPL2000 and PPL2001) and was awarded a deepwater block PPL2010 in the country's latest bid round. Chevron has also had three near-field exploration successes – Meji NW-1, South Delta AA and Awodi-07 – in Nigeria since late 2024, where it is continuing an ongoing exploration and appraisal program. In Guinea-Bissau Chevron has secured three blocks including the newly acquired Block 4B which closed on 13 August 2026, while in Equatorial Guinea it has secured an additional five-block reconnaissance licenses.
Aligned with its exploration strategy, Chevron is preparing a high-impact, multi-well exploration programme across the region, including Namibia’s Nabba-1X well on PEL90 before year-end.
These initiatives underscore Chevron's confidence in the region's resource potential and its disciplined approach to building long-term value through high-impact, frontier exploration.
It has been more than a decade since Ivory Coast began thinking on an international scale to capitalise on its rich deepwater resources
This phase involved a complete overhaul of its legacy petroleum laws which were reframed with global investors' interests in focus. Petroleum sharing contracts became the standard default vehicle, generous cost-oil recovery limits were introduced, and profit-oil split brackets and royalty tax structures became clearly defined.
Global offshore influence
World-class discoveries by Italian major Eni like Baleine and Calao followed soon after, and these deepwater developments of immense scale were achieved in record two years -- a feat previously unheard of. Vaalco Energy brought the Baobab field in Block Cl-40 online early this year with license extension through 2038 for development drilling plans. In May, Viridien started CDI25 -- a seismic reimaging project in the Tano Basin, Ivory Coast, which will be a drill-ready multi-client dataset for explorers. Ivory Coast's offshore influence as a coveted destination for global operators shot up, thanks to its administrative overhaul.
Banking on this investor-friendly environment, Panoro Energy has been the latest to enter Ivory Coast with the acquisition of DNO's entire 9.09 per cent interest in offshore Block CI-27.
New player in high quality, gas producing Block CI-27
Panoro Energy sees the gas producing block as high-quality and anticipates more than 20,000 boepd from it in terms of group production. It will increase pro forma group production by ~23 per cent and group 2P reserves by ~11 per cent.
As Ivory Coast's largest reserves of non-associated gas, Block CI-27 powers the country's largest city and economic capital, Abidjan. This high profile Block, however, generates yield at a unit cost as low as US$6/boe from four offshore fields (Foxtrot, Mahi, Manta and Marlin) tied back to two fixed platforms.
This entry adds to Panoro's upstream ambitions in Africa, marking the beginning of its long-term interests in Ivory Coast, which might surpass Block CI-27. The Block gives Panoro the perfect gateway to one of Africa's strongest hydrocarbon regions, promising high output at low cost with well managed gas and liquids production and reserves.
In 2025, Block CI-27 produced 195 MMscfd, meeting more than 70 per cent of the country’s gas demand. Operator, Foxtrot International, has initiated a five well infill drilling campaign for enhanced recovery, sustaining production plateau around the 190 to 200 MMscfd level with scope to increase to around 230 MMscfd dependant on demand.
Gross remaining reserves are estimated at 540 Bscf and 5 MMbbls with a further 380 Bscf and 9 MMbbls of resources offering material reserve replacement and growth opportunities in the future, holding potential to produce well beyond the current PSC term.
Block CI-27 is privately held Foxtrot whose principal business is a 27.27 per cent effective participating interest. DNO CI LLC holds an indirect 33.33 per cent interest in Foxtrot International and therefore an indirect 9.09 per cent interest in the Asset. Other joint-venture partners in the Asset include PETROCI and SECI S.A
Made for a consideration of US$80mn on a cash free / debt free basis, the transaction will be financed through a combination of equity, comprising seven million new Panoro shares for DNO, and debt of a fully placed US$50mn senior unsecured bond issuance.
Diversifying Panoro's African portfolio
“This high-quality acquisition represents a continuation of Panoro’s strongly accretive growth strategy and follows the transformational acquisition of an additional interest in Block G offshore Equatorial Guinea from Kosmos Energy which we announced in February and completed in June 2026. The addition of an indirect 9.09 per cent interest in Block CI-27 offshore Ivory Coast brings material reserves and production to Panoro, while further diversifying our African portfolio both geographically and from a commodity perspective through long-life, gas-weighted production supported by stable, low-volatility pricing and sales arrangements that are de-linked from oil prices.
"Our new entry into Ivory Coast, one of the fastest growing economies in West Africa, is particularly attractive given the country’s strong private investment, structural economic diversification and expanding hydrocarbon sector, all of which provide long-term support for this strategic acquisition and follow-on growth opportunities in country as and when they arise.
"We look forward to establishing an excellent cooperation with the field partners including the operator Foxtrot International, the national oil company of Ivory Coast PETROCI, SECI SA and also the Ministry of Mines, Petroleum and Energy.
"Importantly, this landmark acquisition is accretive for Panoro shareholders on all standard industry metrics and will further enhance our ambition to continue delivering long-term, sustainable shareholder returns,” said Julien Balkany, executive chairman of Panoro.
Energy data and intelligence provider, TGS, has signed an agreement with the Ministry of Hydrocarbon and Mining Development of the Republic of Equatorial Guinea to create MegaSurvey, a large-scale multi-client seismic product for offshore exploration
Beginning with the post-stack reprocessing of approximately 27,273 kilometers of 2D seismic data and around 35,000 square kilometers of 3D seismic data, the project is set to be completed in Q3 2026.
3D seismic datasets synchronised across large contiguous areas, MegaSurvey eliminates uncertainty by enabling nearly accurate geological interpretation, with clarity in structural and stratigraphic frameworks.
The agreement marks the first phase of a broader plan to create a harmonized and seamless seismic data product across Equatorial Guinea’s offshore basins. The full product vision includes approximately 46,343 line kilometers of 2D seismic data and more than 59,000 square kilometers of 3D seismic data.
David Hajovsky, Executive Vice President, Multi-Client at TGS, commented: “The Equatorial Guinea MegaSurvey is the first of its kind in the country and will apply TGS’s latest imaging technology to address key subsurface challenges and support exploration risk reduction across the Rio del Rey and Rio Muni basins. The product is designed to provide customers with a basin-wide regional screening tool, supporting prospect identification, prospect ranking and planning for future work commitments.”
By integrating and reprocessing legacy datasets into a consistent regional framework, the MegaSurvey will provide new insight into the prospectivity of Equatorial Guinea’s offshore basins and support informed exploration decision-making.
MODEC, Inc has announced that it will supply a SOFEC Internal Turret Mooring System for the Coral Norte FLNG project offshore Mozambique, developed by Eni and its partners CNPC, ENH, XRG and KOGAS
The company is collaborating with the Technip Energies JGC joint venture (JV) to support seamless integration, efficient execution and reliable long term performance.
With Final Investment Decision achieved in October 2025, the hull launch completed in January 2026 at Samsung Heavy Industries’ Geoje shipyard in South Korea, and first LNG targeted for 2028, the project is advancing on schedule. MODEC has supported the project since the early stages and is progressing engineering and supply activities in line with the overall timeline, underscoring the company’s contribution to mission‑critical station‑keeping for large‑scale gas developments.
Building on proven performance on the companion Coral Sul FLNG, this engagement reinforces MODEC’s track record in complex offshore station‑keeping. Designed as an enhanced replica of Coral Sul — incorporating lessons learned and optimized for improved efficiency and performance — Coral Norte will add 3.6 MTPA of liquefaction capacity.
The turret mooring system is a mission‑critical element of FLNG performance, enabling safe weathervaning, high uptime, and resilient operations in the metocean conditions of the Rovuma Basin. Drawing on decades of experience across FLNG and FPSO projects worldwide, MODEC is applying advanced engineering, robust risk management, and disciplined execution to deliver the SOFEC® Internal Turret Mooring System for Coral Norte from design through delivery.
“Coral Norte is an important milestone for the industry and for Mozambique, and we are honored to contribute to this landmark FLNG project,” said Arun Duggal, Head of MODEC’s Mooring Solutions Business Unit. “Our team’s performance on Coral Sul set a high bar for safety, reliability, and schedule discipline. This engagement reflects the trust we have built together, and we look forward to delivering a SOFEC® turret mooring system that enables best‑in‑class operability — while continuing to invest in local capability and laying the foundation for future projects in the region.”
A Technip Energies–JGC JV spokesperson commented: “The work delivered by MODEC on Coral Sul established a strong operational baseline and demonstrated clear excellence in engineering and execution. Our partnership on Coral Norte builds on that success and supports our broader commitment to sustainable development in Mozambique.”
A new gas discovery offshore western Libya has been confirmed by the National Oil Corporation (NOC) and Eni North Africa, following the drilling of the exploration well J1-4/16
After reaching a final depth of 10,458 ft, flow rates across two tests from the Metlawi reservoir stood at 14 million cubic feet per day through a 32/64-inch choke in the first test, and 24 MMcf/d through a 62/64-inch choke in the second.
Lying approximately 95 kilometers from the coast, the well forms part of Contract 4/16, where Eni is the operator, and also remains the final well in fulfilling nine contractual obligations for offshore Contract Block D, as stipulated in the agreement signed in June 2008.
This discovery can potentially add to Libya's production count, which saw an impressive rise last year. According to a table of the average daily crude oil production and total (cumulative) production figures for the past 10 years that was recently released by NOC Libya, 2025 had 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.
Eni is set to launch three exploration plays in Libya – shallow, deepwater and ultra-deep offshore, and is also deeply invested in the region's gas with the US$10bn Greenstream pipeline and a CO2 capture and storage plant in Mellitah.
In line with Nigeria's strategy to expand reach in export market, the Nigerian National Petroleum Company Limited has globally released its new crude grade – Cawthorne
With an API gravity of 36.4 that denotes the light and sweet kind, the Cawthorne crude rules global market demand because of its unmatched petrol and diesel yields. Comparable to Bonny Light, Cawthorne crude blend is the latest from Nigeria’s basket of crude grades, building on recent additions such as Nembe and Utapate.
The consistent market launches come from optimised production, helping Nigeria to solidify its base in the export market with diverse offerings. The Cawthorne Floating Storage and Offloading (FSO) vessel, which is strategically positioned offshore Bonny, Rivers State for enhanced energy security and operational efficiency in easy crude evacuation from OML18, comprised the maiden 950,000 barrels cargo for export. Loaded on an MT Eburones vessel, it headed to the Netherlands, and unto the global market.
As Nigeria aims to attain crude production of three million barrels per day and gas output to 12 billion cubic feet per day by 2030, the international launch of Cawthorne will unlock value from its asset base and deepen market competitiveness.
“This milestone reflects the direction we have set for NNPC Limited—one anchored on execution, partnership, and value creation. We are moving decisively from resource potential to resource monetisation, ensuring that every asset delivers measurable commercial outcomes.
"The successful export of the Cawthorne crude grade is not an isolated achievement; it is part of a broader, deliberate strategy to grow production, deepen market relevance, and strengthen Nigeria’s position as a reliable global energy supplier. We remain firmly focused on delivering sustainable growth in line with national objectives and global market expectations,” said Bashir Bayo Ojulari, Group Chief Executive Officer of NNPC Ltd, as he acknowledged President Bola Ahmed Tinubu’s leadership and OML 18 partners' strong collaboration in achieving the milestone.
Technological innovation, strategic partnerships, and operational discipline will remain central to NNPC Limited's vision as the organisation works towards value creation from Nigeria's vast hydrocarbons resources.
Early confirmed speakers at ADIPEC 2026 demonstrate global relevance. (Image source: DMG World Media)
As the energy sector navigates rising demand, geopolitical uncertainty, infrastructure pressures and rapid technological change, ADIPEC 2026 is set to bring together some of the world's most influential leaders from Africa, Asia, Europe and the Americas, to help shape the future of global energy systems
Held under the patronage of His Highness Sheikh Mohamed Bin Zayed Al Nahyan, President of the United Arab Emirates, and hosted by ADNOC, ADIPEC 2026 will take place in Abu Dhabi from 2–5 November 2026, convening policymakers, industry executives, technology innovators and investors from around the world.
Among the early confirmed speakers are a number of the energy sector’s most prominent voices, reflecting the diverse breadth of expertise and perspectives that will be represented across this year's programme.
Confirmed leaders include: Proscovia Nabbanja, CEO, Uganda National Oil Company; Wael Sawan, CEO, Shell; Claudio Descalzi, CEO of ENI; Osama Mobarez, Secretary General, EMGF; Olivier Le Peuch, CEO of SLB; Lorenzo Simonelli, Chairman and CEO of Baker Hughes; Horacio Marín, Chairman of the Board and CEO of YPF; Yoshinori Kanehana, Chairman of the Board of Kawasaki Heavy Industries; Dr Angela Wilkinson, Secretary General and CEO of the World Energy Council; Aliko Dangote, President and CEO of Dangote Group; Hunter Hunt, Chairman and CEO of Hunt Energy Holdings; Stuart Bradie, Chair of the Board, President and CEO of KBR; and Professor Haruhiko Ando, CEO of the Japan Cooperation Center for Petroleum and Sustainable Energy.
These leaders will contribute to an expanded Strategic Conference designed around the key challenges and opportunities shaping energy markets today. Featuring more than 380 sessions across 11 specialised programmes, the conference will explore topics including energy security and resilience, market stability, infrastructure delivery, investment, workforce development, industrial competitiveness and the growing role of AI in transforming energy systems.
New programmes for 2026 include Energy Security & Resilience, Policy, Regulation & Governance, Upstream, Clean Power, Molecules & Carbon Management, Grids, Infrastructure & Industrial Execution, and Workforce & Skills. Existing programmes have also been refreshed to better reflect evolving industry priorities, including AI, Digital & Technology and Downstream, Chemicals & Industrial Value Chains.
In parallel, ADIPEC's exhibition will bring together more than 2,250 companies across 17 halls, including 54 national, international, integrated and independent energy companies, alongside 30 country pavilions. New features such as an expanded AI Zone and an enhanced Low Carbon and Chemicals Zone will showcase technologies and solutions supporting the next phase of energy development.
Expected to attract more than 239,000 attendees, 1,800 speakers and 16,500 delegates, ADIPEC 2026 will serve as a global platform for the partnerships, investment decisions and innovations needed to strengthen energy systems and support long-term economic growth.
