E&P

Vaalco has mobilised a rig to the Ebouri platform for drilling.

Vaalco Energy has found a new source of production in the Etame 14H development well within the Etame Marine Block offshore Gabon following drilling and placement in an attic position, promising a lateral of 325 meters of net pay in high-quality Gamba sands with unmatched porosity and permeability

The company has reported excellent initial flow rate of approximately 4,850 gross barrels of oil per day, 2,850 bopd net to Vaalco. 

Encouraged by the initial well results from the 14H well, the rig has been mobilised to the Ebouri platform for the drilling of the EEBOM-5H development well. For this well too, the team is targeting an updip/attic position by sidetracking from the previously abandoned EEBOM-5P well. 

“We continue to see positive results from our Gabon drilling campaign. The Etame 14H development well encountered 325 meters of net pay in high-quality Gamba sands in an attic position within the Main Fault Block at Etame. We are very pleased with the initial well rates of around 4,850 gross BOPD, or 2,850 net BOPD and are excited to add this new production. We have mobilised the rig to the Ebouri platform where we are drilling a development well and plan to workover two other wells. Our goal is to continue to successfully add production and reserves with the remainder of our Gabon drilling campaign," said George Maxwell, Vaalco’s chief executive officer.

Offshore Ivory Coast, the Baobab field in CI-40 block has been brought back online for production to begin in Q2 2026. Output from the field will be generated via risers and umbilicals that are currently being reconnected to the Baobab Ivorien Floating Production Storage and Offloading Vessel (FPSO), which is moored on location. It is ready to support production flow after a 47-day tow for refurbishment at the Dry Dock World shipyard in Dubai. Q2 2026. 

George Maxwell, Vaalco’s chief executive officer, said, “We are at a critical junction, with successes in the Gabon drilling campaign and the Baobab field returning to production, and we believe that the remainder of 2026 will be very profitable. We remain focused on execution and driving meaningful growth through our organic capital programmes that we believe will translate into value for our shareholders in 2026 and beyond,” said Maxwell. 

The acquisition aligns with the major's upstream portfolio expansion strategy. (Image source: bp)

Namibia draws in oil major bp's interests in three offshore exploration blocks as it seeks the acquisition of 60% stakes from Eco Atlantic Oil & Gas

The move aligns with the major's upstream portfolio expansion strategy, and follows the exploration success of its Azule Energy venture in the region.

Once the formal approvals from the Namibian government are in, bp will assume operatorship of three blocks – PEL97, PEL99 and PEL100 – in the Walvis Basin while Eco Atlantic continues as a partner, alongside Namibia’s national oil company NAMCOR, following transaction closing conditions being met.

Gordon Birrell, bp’s executive vice president, production and operations, said, “Namibia is a region attracting growing industry interest and has a number of exciting frontier basins. This agreement marks bp’s entry into the country as an operator, strengthens bp’s exploration portfolio and provides long-term growth potential. We look forward to supporting the country in developing its resources.”

bp announced two exploration discoveries since the beginning of the year, following 12 discoveries in 2025, further strengthening its exploration portfolio in support of long-term organic growth. Since the beginning of 2025, Azule Energy – a 50:50 joint venture between bp and Eni – has announced four hydrocarbon discoveries: the Algaita-01 well and Gajajeira-01 gas find in Angola and the Volans-1X and Capricornus-1X discoveries in Namibia’s Orange Basin. 

Other majors such as TotalEnergies and Galp are already deeply invested in significant projects in the Namibian deep waters. They pledged long-term commitment to the country during a recent meeting with the President Netumbo Nandi-Ndaitwah. 

With TotalEnergies acquiring operatorship of Petroleum Exploration License (PEL) 83 while Galp stepping into PEL 56 and PEL 91, the partners have expressed high hopes from Namibia's production generation capacity. This confidence builds on past results from the licenses, namely the Mopane and Venus discoveries, which brought the Orange Basin international-scale success.

The meeting in Abuja was a success build upon the existing strong bilateral energy ties.

The group chief executive officer of the Nigerian National Petroleum Company Limited, Bashir Bayo Ojulari, has paid a visit to the United Arab Emirates (UAE) Ambassador to Nigeria, Salem Saeed Al Shamsi, at the UAE Embassy

The meeting in Abuja was a success as it build upon the existing strong bilateral energy ties between Nigeria and the UAE. The delegates discussed on several topics, ranging from upstream oil and gas investment opportunities, gas development and monetisation to crude oil trading and infrastructure financing. Both parties reaffirmed the sustained relations between the two nations, rooted in mutual respect and a shared commitment to long-term energy cooperation.

Ojulari reemphasised NNPC's role as a commercially driven entity, focused on advancing a solid portfolio of bankable projects across the entire energy value chain. He stressed that the company is welcoming of value-based partnerships with UAE institutions, such as Abu Dhabi National Oil Company (ADNOC), Abu Dhabi Investment Authority (ADIA), and National Petroleum Construction Company (NPCC).

The visit reinforces on previously expressed commitments between President Bola Ahmed Tinubu and President Mohammed Bin Zayed, as both countries are prioritising the translation of intent into concrete, mutually beneficial project outcomes. 

While strengthening its domestic capabilities, Nigeria is looking to build strong global partnerships as well to facilitate its holistic development. During the 2026 International Energy Week (IEW) in London, Ojulari had highlighted the importance of shared infrastructure, policy alignment, coordinated investment frameworks, cross-border knowledge and technology exchange, integrated gas market development, and sustained regional diplomacy among national oil companies (NOCs). 

Earlier in the year, NNPCL had issued bid calls for investors across the world with an aim to seek partners to share stakes with in some of its assets.

These assets besides, the Nigerian operator already shares several assets in the region with international oil companies, including Shell, Chevron, Eni, and TotalEnergies. 

“We are positioning NNPC Limited as a globally competitive energy company capable of delivering sustainable returns while powering the future of Nigeria and Africa,” said Ojulari.

The extension will positively impact Panoro’s 2P reserves at Dussafu.

Panoro Energy, alongside its joint venture partners, have received government approval for an amendment to the Dussafu Marin production sharing contract offshore Gabon

The partners now officially enjoy a material time extension of the PSC up to the year 2053, inclusive of three five-year option periods from 2038 onwards.

This extension will supoort the partners in advancing future development phases and investments in infrastructure that will yield material economic benefit for everyone involved. It will positively impact Panoro’s 2P reserves at Dussafu in the future.

The extension brings the opportunity to unlock and fully realise the vast exploration and appraisal upside potential of the block, as well as in the adjacent Niosi and Guduma exploration blocks where Panoro holds a 25% interest.

Prior to the extension the PSC duration was until 2038 inclusive of two five-year option periods from 2028 onwards.

Eric d’Argentre, chief operating officer and president of Panoro, said, “We are excited to announce this material time extension of the Dussafu PSC which is a key catalyst towards realising the block’s full economic potential in the coming years by maximising the block’s production of 2P reserves and unlocking the vast resource potential. This very welcome news will allow us to confidently plan future phases of investment, including the Bourdon discovery which the joint-venture partners are maturing towards final investment decision and other as-yet undeveloped discoveries and prospects.

The organic development opportunities at Dussafu are significant, and we continue to be firmly focused on creating maximum value and growth for all stakeholders. We are on-track to commence the four-well MaBoMo Phase 2 development drilling programme mid-year which is expected to return gross production at Dussafu to nameplate capacity of around 40,000 bopd when all new wells are onstream. We have also identified two potential appraisal targets that could be drilled after the MaBoMo Phase 2 wells and offer additional fast-track / cost-effective production opportunities.

I would like to thank the Ministry of Petroleum and Gas, Government of Gabon and our joint venture partners on the collaborative effort in delivering this important extension which stabilises the long-term future of Dussafu allowing us to look forward to many more years of successful operations.” 

Panoro holds a 17.5 percent interest in Dussafu.