E&P

Zarat Discovery is being opened up for bidders as a unitised oil and gas resource. (Image source: Joint Oil)

Joint Oil has appointed Moyes & Co as its strategic advisor ahead of a new bid round for Zarat Development offshore Tunisia as part of two commercial packages for interested production and exploration companies

The Zarat development besides, Moyes will also be tackling for Joint Oil the Joint Oil Block Exploration Acreage via an exploration and production sharing agreement (EPSA). These will include an exploration and production sharing agreement (EPSA) for new plays, leads and prospects within the Joint Oil Block Exploration Acreage.

The 3000 sq km-long acreage that lies at a water depth of 80-120 m, comes with seismic data of 6,500 km in 2D and 1,900 km in 3D. The area comprises multiple wells, including Zohra-1 (1976), El Amal South 1 (1999), Besmah-1 (2002), El Amal North 1 (2002), and Zarat North 1 (2010). The surrounding areas include producing fields from Libya, such as El Bouri, El Jurf and Bihr El Salam, and Hasdrubal, Ashtart, Miskar and Didon in Tunisia. The acreage thus holds a strategically rich position along the southern margin of the Pelagian Basin within the geological extension of the Sabratha–Gabes Basin. This is likely to ensure long-term value generation, thanks to easily accessible established regional infrastructure, operational synergies and export pathways.

Lying in the Tunisia-Libya border, the Zarat Discovery is being opened up for bidders as a unitised oil and gas resource for development. This will be governed by a Development and Production Sharing Agreement (DPSA), Unitization Agreement (UA), Unit Operating Agreement (UOA), and Operating Services Contract (OSC). In partnership with Moyes, Joint Oil is providing investors with a robust data framework and a clear commercial path toward developing these significant unitised resources.

The new bid round will open on 1 August 2026, running through 30 November 2026, and the last date for submission will be 1 December 2026.

Winning bidders will be informed by 31 January 2027, with formal awards expected by 31 March 2027.

Africa Energy is aiming to bag a 75% direct interest in Block 11B/12B.

Africa Energy Corp is preparing to navigate delays on the acquisition of interests in Block 11B/12B offshore the Republic of South Africa as the Western Cape High Court has mandated the role of an environmental authorisation for strict assessments before granting permission for production and exploration 

The company has received a further extension, pushed to 4 November 2026, for the submission of a new Environmental and Social Impact Assessment (ESIA) before the Minister of Mineral and Petroleum Resources. This aligns with the region's advancement of an empowered environmental authorisation for offshore exploration operations in Block 5/6/7 that demands additional, new and amended environmental assessments before proceeding with exploration projects.

Africa Energy, which indirectly holds a 10% participating interest now in Block 11B/12B through its investment in Main Street 1549 Pty Ltd, is aiming to bag a 75% direct interest in the block following the withdrawal of partners previously involved and the consequent restructuring of Main Street. The recognition of both these significant steps hang on the relevant regulatory approvals by South African authorities, and their formal grant of production rights in relation to Block 11B/12B. 

With the grant of the environmental authorisation determining the grant of the production right, the company is now closely working with its advisors, including legal counsel, to figure out how to tackle the ESIA demands. 

SNH’s licensing initiative aligns with Cameroon’s broader strategy to optimise hydrocarbon resources.

Five out of nine blocks launched during Société Nationale des Hydrocarbures' (SNH) 2025 licensing round have been offered to winning bidders for production sharing contract negotiations in Cameroon

SNH has confirmed that Octavia Energy Corporation has been awarded the Bolongo Exploration block in the Rio del Rey Basin, while Murphy West Africa secured four blocks in the offshore Douala/Kribi-Campo area: Etinde Exploration, Tilapia, Elombo and Ntem. The remaining blocks – Ndian River, Bakassi, Bomono and Kombe-Nsepe – remain part of the broader licensing round framework following the current phase of evaluation.

Reflecting boosted demand for offshore exploration and brownfield development, Cameroon is the latest in a number of African countries such as Libya or Sierra Leone among others who have recently announced licensing rounds. These fresh licensing rounds are distinguished in their structured, investment-driven approach to re-engage international operators and unlocking underexplored acreage. Cameroon's latest licensing round, in particular, is in line with its strategy of productoion optimisation to address declining output from mature fields, and attract capital and technical expertise to support renewed exploration activity.

The Douala/Kribi-Campo area, where Murphy West Africa will focus its activities, is widely regarded as a highly prospective offshore petroleum province within Cameroon’s broader coastal basin system, with notable gas potential despite being less explored than the Rio del Rey Basin. Meanwhile, the Rio del Rey Basin – home to Octavia’s Bolongo block – remains an established production area with opportunities for redevelopment and enhanced recovery.

SNH’s licensing initiative aligns with Cameroon’s broader strategy of resources optimisation, output stabilisation from declining fields, and attract capital and technical expertise to support renewed exploration activity. This comes amid gradual production declines across legacy assets, reinforcing interest in both offshore gas development and incremental oil recovery opportunities.

At the same time, Cameroon is seeking to strengthen gas monetization pathways and expand domestic energy supply, with growing emphasis on gas-to-power development and broader industrial applications. This strategy is closely linked to LNG development, downstream gas processing and infrastructure expansion – particularly around Kribi – which is expected to support the development of integrated gas value chains. Planned pipeline projects, port upgrades and industrial gas-to-power initiatives are also expected to reinforce midstream and downstream capacity while improving monetization of domestic resources.

The partners will work to secure Libya's stronghold in the global energy markets. (Image source: Libya NOC)

Advancing exploration prospects across Libya's resources-rich basins, the National Oil Corporation (NOC) has signed a memorandum of understanding (MoU) with oil major, Chevron, to conduct a joint study for the assessment of unconventional shale oil and gas resources

The partners will deploy their technical teams to study and assess the development potential of resources across three sedimentary basins in the region, namely Sirte, Murzuq, and Ghadames. The teams are anticipating the presence of around 123 trillion cu/ft of gas reserves, alongside approximately 18 billion barrels of oil. If confirmed, the partners will work to secure Libya's stronghold in the global energy markets.

According to the NOC chairman, Masoud Suleman, this MoU marks a stepping stone for several such influential partnerships to come into the country, adding to its already-delivering exploration efforts.

Suleman highlighted that the MoU formalises the first joint study in Libya to assess unconventional resources. The national staff will work closely with Chevron’s American staff, fostering knowledge sharing in practical field experience, acting as a launchpad for the nation to deliver professional and technical development that meet international industry standards. This will empower the nation's workforce to take on such tasks in the future independently. 

Libya's global presence continues to grow steadily as Sulzer launched an in-country rotating equipment services in the region, while Eni confirmed a gas discovery in the western offshore area.