E&P

Both of the Magoga wells drilled the full reservoir interval. (Image source: Assala)

Assala Energy has found hydrocarbons in the targeted reservoir interval in the Magoga-1 exploration well

The well is located in the Mutamba Iroru II Licence in Gabon, which also comes with a sidetrack into the Atora II Licence.

Going by the initial data acquired during drilling the presence of 8 meters of hydrocarbon has been identified within the Gamba Sandstone formation. This will be followed by integration and interpretation of the well to assess reservoir properties, fluid characteristics and volumetric potential. These will determine the company's next steps, while deciding if there's any requirement for any additional appraisal activity.

“This result provides encouraging subsurface information from the Mutamba Iroru II & Atora Licence and adds to our understanding of the basin’s prospectivity,” said Timothee de Reynal, subsurface director at Assala Energy. “Our immediate focus is on completing a thorough technical evaluation of the data gathered from the well and determining the appropriate forward work programme.”

Both of the Magoga wells drilled the full reservoir interval and safely completed operations in line with applicable operational, environmental and safety standards.

The discovery will be subject to further technical analysis and, where appropriate, additional studies or appraisal activity. No determination has yet been made regarding commerciality, and no decision has been taken regarding development.

Assala Energy will continue to work closely with the relevant authorities, its stakeholders and shareholders, as it progresses the evaluation of the well results.

This start-up comes after 16 years. (Image source: TotalEnergies)

TotalEnergies has restarted production at the Mabruk oil field onshore Libya, located in concession C17, around 130 km south of Sirte

This start-up comes after 16 years, since production from the field stopped in 2015.

The construction of a new production unit with a capacity of 25,000 barrels per day was launched in May 2024. Start-up of this new facility occurred on February 28, 2026, less than two years after the project was launched.

“This restart illustrates our long-term commitment in Libya, as we celebrate TotalEnergies’ 70th anniversary in the country this year,” said Julien Pouget, Middle East and North Africa Director for TotalEnergies’ Exploration & Production business. “This project, which follows TotalEnergies’ recent announcements regarding the extension of the Waha concessions, brings low-cost, low-emissions oil production in line with the Company’s strategy, and contributes to our objective of 3% annual production growth per year until 2030.”

TotalEnergies holds an interest of 37.5% at the Mabruk. 

TotalEnergies has also signed a 34-year extension agreement on the Waha Concessions onshore Libya. As the concessions continue to produce around 370,000 barrels of oil equivalent per day (boe/d), TotalEnergies plans to kickstart additional phased investments that will advance the development of the North Gialo field. This will unlock 100,000 boe/d of boosted production.

The target zone was water bearing.

As part of phase three drilling programme offshore Gabon, Vaalco Energy has completed drilling the Etame West ET-14P exploration well

The target zone was water bearing even though 10 meters of high-quality Gamba sands were encountered in line with pre-drill predictions. Awaiting partner approval, this finding can be further pursued by utilising the well bore part to sidetrack it in the upper portion of the well. This move is expected to support the drilling of the ET-14H development well in the Main Fault Block of Etame. 

The lower portion of the well will be plugged and abandoned. Operations are expected to be completed in April.

George Maxwell, Vaalco’s chief Executive Officer, said, “When we committed to drilling the Etame West exploration well, we knew there was the geologic risk of not encountering commercial sands but the size of the potential reservoir made it a risk worth taking. Furthermore, we purposely designed the well so we could still utilise the well bore to drill a development well into a known productive area if the sands were non-commercial. This side-tracked well should be completed in April.” 

Vaalco has also been spudding 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.

The agreement will considerably push Nigeria's deepwater development.

As Oil Prospecting Licence 245 (OPL 245) undergoes conversion, the President of the Federal Republic of Nigeria, Bola Ahmed Tinubu, and Eni's chief executive officer, Claudio Descalzi, met in Abuja to explore how the development can advance the Nigerian deepwater sectors

A significant feature of the agreement is the discontinuation of the international arbitration proceeding at the International Centre for Settlement of Investment Disputes (ICSID), thus allowing the conversion of the existing license into two development licences, Petroleum Mining Leases (PML) 102 and 103, and two exploration licences, Petroleum Prospecting Leases (PPL) 2011 and 2012, to Nigerian Agip Exploration Limited (NAE) as operator, alongside its partners Nigerian National Petroleum Company Limited (NNPC) and Shell Nigeria Exploration and Production Company Limited (SNEPCO). 

The agreement will considerably push Nigeria's deepwater development with Eni set to apply its know-how on the Zabazaba and Etan fields for optimal output. An extensive programme has been devised to generate approximately 500 MMbbl of reserves from the fields, including the deployment of a 150 kbopd capacity FPSO processing facility, while gas (200 MMSCFD at peak) will be exported through Nigeria LNG. The highly potential PPL 2011 and PPL 2012 exploration licenses will also be developed in line with the Zabazaba and Etan fields for a well-synced operational and production output from all facilities involved.

President Tinubu and Mr Descalzi also discussed Eni’s significant investment portfolio — including the Abo and Bonga fields and Nigeria LNG — as well as on potential new developments designed to expand the country’s offshore production capacity. Within this framework, and in line with its long-term strategy in the country, Eni has recently expanded its interests in deep-water developments, with the acquisition of an additional stake in OML 118, now holding 15%.