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.

The acquisition aligns with Aradel’s long-term strategy.

Indigenous integrated energy company, Aradel Holdings Plc's wholly-owned subsidiary, Aradel Energy Limited, has completed the acquisition of an additional equity interest in ND Western Limited 

With the transaction, Aradel has aquired a 40% equity interest in NDW from Petrolin Trading Ltd. With the completion of the transaction, Aradel Energy Limited’s shareholding interest in NDW increased from 41.67% to 81.67%, and NDW has become a subsidiary of Aradel Energy Limited. This leads to a material increase in Aradel’s aggregate shareholding in Renaissance Africa Energy Company Limited, pushing its total indirect ownership in the company from 33.3% to 53.3%.

NDW holds a 45% participating interest in OML 34, a producing Oil Mining Lease located in the Western Niger Delta and owns 50% of the share capital of Renaissance Africa Energy Holding Company Ltd, the parent company of Renaissance Africa Energy Company Limited which operates the Renaissance Joint Venture.

This acquisition aligns with Aradel’s long-term strategy of disciplined portfolio consolidation, asset base expansion and sustainable value creation. It further strengthens the Company’s position within Nigeria’s upstream oil and gas sector, enhances operational scale, and supports improved efficiency and resilience across the Company’s asset portfolio.

Commenting on the transaction, Adegbite Falade, Chief Executive Officer of Aradel Holdings Plc, said, "The completion of this acquisition represents a further step in the execution of our growth and consolidation strategy. Increasing our equity interest in ND Western reinforces Aradel’s position as a leading indigenous integrated energy company and enhances our ability to drive long-term value for shareholders through scale, operational efficiency, and portfolio optimisation.”

The transaction was completed following the receipt of all requisite regulatory approvals, including approvals from the Nigerian Upstream Petroleum Regulatory Commission and the Federal Competition & Consumer Protection Commission, and is in compliance with all other applicable regulatory, governance, and disclosure requirements.