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In The Spotlight

Lucia Witbooi, Vice President of the Republic of Namibia at NOGC 2026. (Image source: NOGC)

Event News

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: 

  • Capitalisation of petroleum opportunity

  • Generation of long-term national value

  • Advancing investments and businesses

  • 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:

  • Enterprise participation

  • Skills exchange and development

  • Infrastructure building

  • 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. 

Block CI-27 powers Abidjan in Ivory Coast.

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. 

 

 






Chevron will be assessing the tie-back potential of the discovery.

Exploration

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.

 

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The concession's advance sustainability scopes are one of the prime reasons that locked the deal for ADNOC. (Image source: Adobe Stock)

In its first strategic investment in Mozambique, ADNOC has acquired 10% of Galp’s interest in the Area 4 concession of the Rovuma basin in Mozambique

The acquisition will allow ADNOC a share of the liquefied natural gas (LNG) produced from the concession.

With the operational Coral South Floating LNG (FLNG) facility, the planned Coral North FLNG development and the planned Rovuma LNG onshore facilities, the concession has a combined production capacity of more than 25 mn tonnes per annum. It is one of the world’s largest gas discoveries in 15 years. 

A one-of-a-kind facility in Africa, the Coral South development is currently in operation, with a production capacity of up to 3.5 mtpa of LNG. Once up and running, the Coral North development is capable of adding another 3.5 mtpa of LNG to that. It will have a FLNG facility to process and liquefy natural gas for export. 

The Coral south development is already yeilding vegetable oil to serve as feedstock in Eni's biorefineries. 

The modular, electric-drive design of the 18-mtpa Rovuma Onshore LNG development is capable of challenging industry standards when it comes to carbon intensity reduction from LNG production. 

The concession's advance sustainability scopes are one of the prime reasons that locked the deal for ADNOC, which aims to achieve a just transition-driven net zero by 2045. 

Integrated global gas business 

Musabbeh Al Kaabi, ADNOC executive director for low carbon solutions and international growth, said, “For over fifty years, ADNOC has been a reliable and responsible global provider of LNG and we are building on this role with this landmark investment in the world-class Rovuma supergiant gas basin in Mozambique as we deliver on our international growth strategy. Natural gas plays an important role to meet growing global demand with lower emissions compared to other fossil fuels and this acquisition supports our efforts to build an integrated global gas business to ensure we continue providing a secure, reliable and responsible supply of natural gas.”

 

 

 

 

 

The signing ceremony included the CEOs of Baker Hughes, SONATRACH and MAIRE, and the Minister of Energy and Mines. (Image source: Baker Hughes)

In an effort to boost production from Hassi R’Mel gas field 550 km south of Algiers, SONATRACH has signed a contract with Baker Hughes

The energy technology company will supply 20 compression trains based on Frame 5 gas turbine and BCL compressor technology will be installed across three gas boosting stations within the Hassi R’ Mel gas field. 

This comes as part of the Mattei Plan, a broader strategic collaboration across industries between Algeria and Italy. Italy has assured financial support for Algeria's gas production, which is the European nation's biggest single source of import. 

In 2023, Bloomberg NEF recognised Algeria as the second-largest gas supplier to Europe. The country has introduced multiple gas boosting stations to hold its title on the global energy market, while embracing natural gas as its prime energy source for socio-economic development. In June last year, TotalEnergies signed contract with SONATRACH to develop gas resources in the north-east Timimoun region. The oil major has also extended its LNG contract with SONATRACH till 2025 to access 2 mn tonnes of LNG for France and Europe.  

The largest gas field in Algeria, Hassi R’ Mel is equipped to not just meet domestic demands but also serves as key source of energy supply for Europe. At more than 20 trillion cu/m, shale gas is a lucrative investment opportunity for Algeria which falls under SONATRACH's long-term development plans as the company's vice president for planning and strategy, Rachid Zerdani noted last year. 

Baker Hughes responsibilities on Hassi R’ Mel will include boosting and stabilising the pressure of natural gas to increase production at site. Its facility in Italy will be the base for all project activity from compressor trains packaging and manufacturing to trains testing. This comes as a sub-contract of an order awarded to a consortium between Baker Hughes and technology and engineering group MAIRE-subsidiary Tecnimont. 

Reliable energy source for Europe

“We have long believed that it is critical to increase gas within the overall global energy mix to help achieve a lower-carbon economy. This project helps to solve for energy producers’ multi-faceted challenge of driving sustainable energy development as energy demand increases. We are proud to support such a critical energy project in partnership with Tecnimont,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes. 

“Today’s announcement marks a notable milestone in our historical collaboration with SONATRACH for key energy projects in Algeria that have played a crucial role in supplying reliable energy to Europe,” said Simonelli on the occasion of contract signing, which also included Rachid Hachichi, CEO, SONATRACH; Alessandro Bernini, CEO, MAIRE, and the Minister of Energy & Mines, Mohamed Arkab.

 

 

 

 

There is a potential for an uptick in E&A drilling activity. (Image source: Westwood)

Mozambique can still lead production and drilling in the East African Ruvuma-Rufiji (EARR) Gas Basin through to 2030, if the government continues to take strides to guarantee rapid progression of projects off Cabo Delegado province, writes Michela Francisco, analyst - onshore energy services, Westwood Global Energy Group

According to bp's 2024 Energy Outlook, global liquefied natural gas (LNG) traded volumes are forecast to grow 43% by 2030 from the 543 bn cu/m recorded in 2022

In recent years, LNG exports have been dominated by the United States, Australia and Qatar, which, according to the Energy Information Administration (EIA), held a combined LNG export capacity of approximately 257 mmtpa in 2023 (60% of total global LNG capacity). By 2030, Qatar and the US are projected to add approximately 150 mmtpa in LNG feedstock, securing the top two positions in global LNG export capacity. New additions are anticipated to stem from LNG facilities currently under construction in the US (84.1 mmtpa) and expansion phases of QatarEnergy’s North Field (65mmtpa). Despite this, there is still an appetite for additional LNG supply, given current demand expectations, making the business case for developing long-stalled gas projects from frontier areas stronger.

Mozambique and Tanzania, which house the EARR Gas Basin, could potentially be major beneficiaries of this projected demand, given abundant gas reserves (165.7 trillion cu/ft) and the basin's proximity to South-Asian import markets. However, the burning question remains – how soon can the world expect the EARR Gas Basin to roar amid an increasingly thirsty LNG demand environment?

It is pertinent to state that the EARR Gas Basin has failed to live up to its full potential due to a series of endemic bottlenecks faced in the host countries. In Tanzania, the US$40bn Tanzania LNG project, which aims to receive gas feedstock from six fields across Blocks 1 and 4 (Shell) and Block 2 (Equinor), has been subject to extensive delays due to protracted negotiations rooted in unattractive fiscal terms due to high domestic supply obligations.

The story behind undeveloped gas reserves is quite different for the reserves offshore Mozambique, with the main culprit being the Islamist insurgency in Cabo Delgado province. The conflict has led to delays in final investment decisions (FIDs) and project start-ups, given declarations of force majeure for key projects. An example is TotalEnergies’ enforcing force majeure on the 13 mmtpa Mozambique LNG project, hereby delaying production start from the operator's Golfinho-Atum field into 2028, nine years post sanction.

On a similar note, ExxonMobil's Rovuma LNG project also felt the knock-on effect following the declaration of force majeure by TotalEnergies, given that it plans to share some facilities belonging to the Mozambique LNG project. ExxonMobil, however, seized this as an opportunity to cut costs by heavily reconfiguring the design plan from its initial two-train 15.2 mmtpa stick-build facility to an 18 mmtpa facility now being constructed using a modular approach whilst putting some emphasis on mitigating greenhouse gas emissions from the project. To date, ExxonMobil has launched tenders for a front-end engineering and design (FEED) contract and an engineering, procurement, construction and installation (EPCI) option for the subsea-to-shore gas gathering facilities.

Another factor contributing to the untimely development of resources in Mozambique is complicated project economics. TotalEnergies highlighted this in 2023 when it reported that supply chain inflationary pressures further complicated the resumption of the US$20bn Mozambique LNG project. However, there have been signs of positive developments given that TotalEnergies communicated in the company’s April 2024 earnings call that contractors have agreed to reverse contract inflation plans; thus, this is no longer an obstacle to the project’s sanctioning decision.earr gas basin

Despite these challenges, the Basin's inaugural project, Eni's 75,000 boepd Coral South floating liquified natural gas (FLNG) project, came onstream in 2022, signalling that complex, multi-billion-dollar developments could work offshore Mozambique. Output in Mozambique is forecast to remain stable at around 75,000 boepd until 2027 before growing to a peak of 295,000 boepd by 2030, up 296%, driven by TotalEnergies’ Golfinho-Atum and Eni's Coral Phase II fields.

Additionally, Tanzania's inaugural field in the Basin should come onstream in 2026 from Aminex's 7000 boepd Ntorya onshore gas field, boosting total output across the Basin to a peak of approximately 302,000 boepd by 2030, up 305% on 2023. Although there are positive signs for production, the spectre of delays that have been haunting projects remains strong, potentially diluting the positive picture prior to 2030, especially since only one of the three projects expected onstream by 2030 has passed sanctioning (TotalEnergies’ Golfinho-Atum). 

Drilling activity across both countries has been negligible, averaging one well per annum over the 2019-2024 period. Activity is anticipated to liven up over the forecast, driven by approximately 50 wells to be drilled to support upcoming LNG projects in Mozambican deepwater. Of these, 27 subsea trees have already been awarded between 2017 and 2019 for Eni’s Coral South and TotalEnergies’ Golfinho-Atum fields. 30 additional subsea trees are forecast to be awarded, with six awards anticipated for Eni’s Coral North field, scheduled to reach FID before the end of 2024. Onshore drilling activity will remain negligible, with only Aminex’s Chikumbi-1 exploration well set to be spud in 2024, the only onshore E&A well spud in the basin since 2016.

Post 2030, the outlook from the EARR Basin could be more promising, given continued interest from international energy companies (IECs), as well as licencing rounds and concession award announcements made across both countries since 2023. Although projects are few and far between in Tanzania, Shell and Equinor proposed a US$42bn LNG project from three deepwater blocks in March 2023, and this was later followed by CNOOC’s expression of interest in developing a FLNG deepwater project in blocks 4/1B and 4/1C in June 2023. From a regulatory standpoint, the current administration has increased optimism, given ongoing negotiation on fiscal terms with joint venture companies; however, nothing has materialised thus far.

Additionally, it is noteworthy to highlight the potential for an uptick in E&A drilling activity beyond Westwood’s current forecasts. This is due to the semi-autonomous Government of Zanzibar, off-Tanzania, launching its inaugural five-year licensing round in March of 2024, inviting IECs to explore eight offshore blocks.

earr gas basinsE&A drilling could also occur in Mozambique, given that the National Hydrocarbon Company approved a concession contract for oil exploration and production in the Angoche A6-C Area in July 2024. However, Westwood is bearish on these progressing into any E&A drilling activity before the second half of the forecast.

When dissecting current developments in the EARR Basin, it is evident that by the onset of the next decade, the Basin could contribute about 295,000 boepd of gas to meet global LNG demand. Westwood anticipates that Mozambique will continue to lead production and drilling in the EARR Basin through to 2030. However, it remains crucial for the Mozambican government to continue to take strides towards eradicating the insurgency to guarantee rapid progression of projects off Cabo Delegado province, which are currently mainly in the FEED stage.

Contrarily, on the Tanzanian side of the Basin, the portrait is more promising than in the hindcast, albeit there is still a need to focus on improving fiscal terms to attract more near-term investment and ensure that current interest from IECs is maintained. Overall, Westwood believes that by 2030, the EARR Gas Basin might start to live up to its potential as projects finally move from potential to reality.

APT has a gas sales agreement with TPDC. (Image source: Adobe Stock)

ARA Petroleum Tanzania and its development partner Aminex Plc have received a 25-year development licence over the Ntorya Gas discovery in Tanzania from the Deputy Prime Minister and Minister for Energy of Tanzania, Doto Mashaka Biteko

“We were honoured to receive this licence from Deputy Prime Minister Doto Biteko at such a prestigious event. This ceremony marked a significant milestone in our commitment to harness Tanzania’s gas resources for the benefit of its people. Our ambition for this serious endeavour is that it results in boosting economic development, alleviating energy poverty and supporting the country’s energy transition,” said Erhan Saygi, general manager, ARA Petroleum Tanzania, commenting on the handover ceremony that took place in Mtwara.

APT has acquired land for the installation of upstream processing facilities, and the Chikumbi-1 appraisal well location, while expanding an adjacent site to accommodate the construction of a camp and storage yard. It is also putting into place the logistics necessary to conduct the subsurface work that will lead to first gas production. This includes conducting a well-test on Ntorya-2 and converting it to a producing well, drilling the Chikumbi-1 appraisal well with a view to converting it to a producing well and carrying out a well workover at Ntorya-1, before turning it into a producing well. 

The company is aiming the completion of pipeline placement from Ntorya to Madimba by early next year, working in line with the Tanzanian government's ambitions to enable gas delivery for electricity generation in the Mtwara region. 

According to a Gas Sales Agreement signed with the Tanzanian Petroleum Development Corporation (TPDC) earlier this year, APT expects an initial yield of 40 to 60 mn st cu/ft a day in the first year, gradually boosting production to 140 mn st cu/ft over the next few years. 

This estimate is backed by strikingly positive 3D seismic datasets from the region, indicating significant potential gas volumes in other untested structures over the wider licence area. To emphasise just how significant the potential gas volumes might be, Charles Santos, the executive chairman of Aminex, has said that the Ntorya accumulation can become the largest onshore gas discovery in East Africa. 

This, however, will require investment in a phased development of the Ntorya gas field and the maturing of domestic industries as gas offtakers, such as fertiliser, cement and plastics production plants, vehicle CNG stations, domestic LPG suppliers and additional gas-fired power stations for industrial and residential use.

Ntorya gas hub

“We are excited about further exploration and appraisal work in this area as we consider it to hold truly enormous volumes of gas. We believe this could be game-changing for Tanzania’s energy security, for Mtwara’s industrial development and for Tanzanians’ prosperity. We look forward to building strong partnerships with local businesses and entrepreneurs to share knowledge, impart expertise and build a home-grown industry around a Ntorya gas hub,” said Saygi.

APT has been actively involved in the Ruvuma Asset since 2020, before its interests in the region accumulated to 75% post acquisition from Scirocco Energy last year. The remaining 25% interest in the Ruvuma Asset is held by Aminex.

 

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Exploration

Block CI-27 powers Abidjan in Ivory Coast.

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. 

 

 






Petrobras gets direct entry into the negotiation phase.

Weatherford secures new work in the Middle East (Image source: Adobe Stock)

Geology & Geophysics

MegaSurveys are 3D seismic datasets synchronised across large contiguous areas. (Image source: TGS)

Geology & Geophysics

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.

Offshore Sao Tome and Príncipe is a challenging subsurface environment. (Image source: TGS)

The survey will span across 34,000 kms offshore Egypt. (Image source: TGS)

Technology

MODEC's mooring system to support Coral Norte.

Technology

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.”

PipeSense deployed PipeScan, a pressure-pulse technology, to locate obstructions in two offshore pipeline networks. (Image Source: PipeSense)

The submissions reveal an industrial shift towards smart, resilient and efficient energy systems.

Gas

Flow rates were determined from the Metlawi reservoir.

Gas

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.

 

 

 

Reservoir properties were above pre-drill estimates.

TechnipFMC to support Eni's Baleine project offshore Ivory Coast.

Downstream

The consistent market launches come from optimised production.

Downstream

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.

 

 

The MoU was signed in China. (Image source: NNPC)

Africa’s refining landscape is diverging.

Event News

Early confirmed speakers at ADIPEC 2026 demonstrate global relevance. (Image source: DMG World Media)

Event News

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. 

Click here to register as an ADIPEC delegate or visitor.

Energy leaders from across Africa will participate in the Strategic Conference. (Image source: dmg events)

Lucia Witbooi, Vice President of the Republic of Namibia at NOGC 2026. (Image source: NOGC)

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