Angola is ready for investors.

Shell is considering an agreement with Chevron, whereby the former might acquire stakes in two undeveloped offshore blocks in ultra-deep waters offshore Angola

The Angolan administration's increasing focus on making regulatory reforms to advance a investors-friendly energy sector is bearing fruit as European oil majors are willing to spend billions in sub-Saharan Africa's second-largest crude oil producer after Nigeria. The country aims to maintain production levels above 1 million barrels per day.

“We have signed a farm-in agreement with Cabinda Gulf Oil Company Ltd - a subsidiary of Chevron - to obtain a 35% interest in Block 49 and 50 offshore Angola. The deal has received governmental approval and is pending final legal requirements," Shell said in a statement to Reuters. 

This was also confirmed by Chevron as the partners await relevant regulatory approvals.

"New exploration, such as in Angola, is important to sustaining production into the 2030s," said Shell, which aims to boost gas production by 1% through 2030 while maintaining a steady oil output. 

Angola is ready for investors as it is set to open a licensing round this year, supported by valuable geological insights from Viridien. The earth data company has recently announced a multi-client seismic reimaging programme over Angola’s highly prospective offshore Block 22.

The 4,300 sq km high-end data set will bring valuable insight into underexplored structures along the Atlantic Hinge zone, following the same trend as the proven Cameia and Golfinho fields.

2025 has recorded the highest average production rate in a decade.

With an aim to advance transparency, the National Oil Corporation (NOC) of Libya has released its average daily crude oil production and total (cumulative) production figures for the past 10 years 

According to the table released, 2025 has recorded the highest average production rate in comparison to the last decade, at 1.374 million barrels per day. Total crude oil production for the year reached 501 million barrels, marking a posititve shift in the NOC’s strategy to boost crude oil production rates. The NOC acknowledged the role of the employees at all production sites.

Majors have showed increased interests in the region all throughout 2025. TotalEnergies had kickstarted work on the Waha and Sharara fields, while also exploring opportunities in the Sirte and Murzuq basins. Speaking about the region, the company's senior vice president for the Middle East and North Africa, Julien Pouget, said, “With 40% of Africa’s reserves, Libya remains largely untapped.” 

Repsol, too, has resumed drilling in Murzuq Basin onshore Libya. Lauding the region's efforts in fighting natural field decline and encouraging exploration, Repsol's executive managing director, exploration & production, Francisco Gea showed faith in achieving the country's production target of two million barrels per day. 

Eni is set to launch three exploration plays in the region – shallow, deepwater and ultra-deep offshore, and is also deeply invested in Libyan gas with the US$10bn Greenstream pipeline and a CO2 capture and storage plant in Mellitah.

The South N’dola Platform is an abundant offshore reservoir.

In a major milestone for Chevron, the South N’dola Platform in Angola has delivered first oil, in a little over two years after construction on the platform began

Situated in Block 0, the South N’dola Platform is an abundant offshore reservoir in the country, accounting for 12% of its daily energy output.

“Underpinned by the prolific Block 0, safely achieving first oil at South N’dola is the latest example of Chevron’s efforts to maximise production from our existing offshore assets in Angola,” said Brent Gros, president of Chevron Offshore Business.

Existing infrastructure was leveraged to push for a sustainable, efficient and cost-effective development of the South N’dola field. With a field-to-production-facility tieback connected to the nearby Mafumeira facility, the processed oil and gas are directly pumped to the terminal for export. This eliminates the need for separate oil and gas processing equipment at South N’dola.

The South N’dola success marks a new chapter in Chevron’s 70-year long history in Angola. It operates two offshore tracts in Angola, Block 0 and deepwater Block 14, through a wholly owned subsidiary, Cabinda Gulf Oil Co. Ltd.

During its construction phase, South N’dola was expected to create more than 800 local jobs, and now that it is producing, it will deliver oil and gas to local Angolan plants.

“Chevron and the Angolan government have worked together for more than 70 years to develop the nation’s thriving energy industry—a fantastic example of how people and partnerships power progress,” said Gros. 

The acquisition aligns with Heirs Energies’ long-term strategy.

An indigenous integrated energy company from Africa, Heirs Energies has acquired Maurel & Prom SA's entire 20.07% equity stakes in Seplat Energy Plc at a price of GBP3.05 pence per share, adding to a transaction worth approximately US$500mn

The acquisition aligns with Heirs Energies’ long-term strategy to strengthen indigenous participation in strategic assets and accelerate sustainable energy development and security for Nigeria and Africa.

Commenting on the transaction, Tony Elumelu, Chairman of Heirs Energies, said, “This acquisition reflects our strong belief in Africa’s ability to own, develop, and responsibly manage its strategic resources. It is a long-term investment in Nigeria’s and Africa’s energy future, and aligns with our mission to drive energy security, industrialisation and shared prosperity. Seplat Energy has built a resilient, well-governed platform with compelling long term prospects, and we are pleased to support its continued growth and value creation for all stakeholders.”

This landmark achievement was supported by two leading African financial institutions—Afreximbank and AFC—further demonstrating Africa’s capacity to finance its own deals.