E&P

Marginal Energy will initiate a full cycle upstream programme. (Image source: APO Group on behalf of Energy Capital&Power)

With an aim to boost upstream investment in the region, the Government of Sierra Leone has signed a new offshore petroleum license agreement with Nigerian-based independent energy company Marginal Energy, during the Invest in African Energy Forum in Paris

The agreement gives Marginal Energy the rights to initiate a full cycle upstream programme across five blocks that add up to approximately 6,800 sq km. The Nigerian company will explore, develop and produce the area, within the limits of a fiscal and regulatory framework that caters to investor returns and, in turn, foster national value creation.

PDSL has confirmed that the agreement validates a seven-year exploration period that has been structured to make scope for a minimum work programme with 3D seismic acquisition, advanced geoscience studies and drilling commitments. The company is willing to invest more than US$225mn on the exploration phases.

President Julius Maada Bio said that the agreement is the way to “responsibly harnessing Sierra Leone’s natural resources for sustainable economic transformation,” while reinforcing the country's focus on fostering partnerships with the right investors to see visible progress on the country’s petroleum sector.

PDSL Director General Foday Mansaray described the deal as “an important step in unlocking Sierra Leone’s offshore potential,” emphasizing the country’s focus on transparency and competitiveness. Exploration and production besides, the agreement also stress the areas of local content development, technology transfer and environmental management, as part of Sierra Leone’s broader strategy to ensure long-term economic benefits from resource development.

Marginal Energy, on the other hand, enjoys deep expertise in the Niger Delta, and the new permit gives it a chance to expand its domestic base in the nation. The company's approach is largely driven by technological advances for profit-oriented results, all while maintaining sustainability. 

Collaboration in research and development is of strategic importance. (Image source: NNPC Limited)

NNPC Limited has signed a memorandum of understanding (MoU) with the Algerian National Oil Company, Sonatrach, to advance partnership opportunities in research, development and innovation

The MoU with Sonatrach will be led by NNPC's Research Technology and Innovation (RTI) Division, in collaboration with the Petroleum Technology Development Fund (PTDF). The agreement framework was signed by NNPC's executive vice president - business services, Sophia Mbakwe, and Sonatrach's managing director, Khodjah Mohamed, during the latest African Petroleum Producers' Organisation (APPO) Forum for R&D Directors at the PTDF Tower in Abuja, Nigeria. 

While speaking of the significant players in advancing Africa's hydrocarbons sector, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri explained that the forum originated as a platform for navigating the global energy transition by leveraging funding, technology, and markets, and said, "The R&D forum tackles technology and expertise needs, the African Energy Bank addresses funding constraints, and the Central African Pipeline System supports regional oil and gas market integration."

"Collaboration in research and development is of strategic importance. The cost of innovation might be high, but the cost of obsolescence would be greater," said NNPC's chief financial officer, Adedapo Segun.

The Group chief executive officer of NNPC, Bashir Bayo Ojulari, fosters a vision for a unified strategic framework through which resources could be pooled, data integrated and risks shared across member countries. He also stressed on the rapid adoption of digital technologies, artificial intelligence and advanced engineering to improve upstream, midstream and downstream operations.

The APPO secretary general, Farid Ghezali, urged African petroleum producing countries to ensure research in the oil and gas sector produced solutions that are practical and directly relevant to the continent. "We must ensure that our research delivers solutions that are practical and of direct use to Africa," he said.

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.