Shane Harris, ExxonMobil’s managing director in Nigeria paid a courtesy visit to the chief executive of NUPRC, Gbenga Komolafe. (Image source: NUPRC)

In a clear move for startegic expansion, ExxonMobil has confirmed the initiation of planned investments of US$1.5bn for deepwater exploration and development in Nigeria 

The announcement was made by Shane Harris, ExxonMobil’s managing director in Nigeria, during a courtesy visit to the chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe.

Expected to be implemented between Q2 2025-2027, the initiative will include production revitalisation from the Usan field, several funding approvals, and a field development plan approval during the late Q3 2025. Other activities include accelerated development of the Owowo and Erha fields, among others. 

Emphasising the importance of collaboration between investors and regulators in meeting Nigeria's production optimisation goals, Komolafe said, “The Commission is committed to the implementation of Section 109 of the PIA which addresses the subject of willing buyer, willing seller and we urge producers to comply with the Domestic Crude Supply Obligation.” 

The contract will commence in the third quarter 2026. (Image source: Adobe Stock)

Valaris Limited has been awarded a five-well contract offshore West Africa for drillship VALARIS DS-15

The US$135mn-worth contract that will span nearly 250 days, is scheduled to commence in the third quarter 2026.

Including upfront payments for rig upgrades and mobilisation, the total contract value does not include the provision of additional services. There are priced options for up to five wells with an estimated total duration of 80 to 100 days.

Delivering complex drilling solutions

President and chief executive officer Anton Dibowitz said, “We are excited to have secured another contract for one of our high-specification drillships. As part of this contract, the rig will be upgraded with an enhanced managed pressure drilling system. We believe this contract reflects the market’s preference for contractors that can deliver complex drilling solutions with high-specification, seventh generation drillships. In addition, this contract adds to our presence offshore West Africa, where we are well positioned for future contracting opportunities.”

Masangane has more than 15 years of experience in the energy sector. (Image source: Adobe Stock)

In a bid to advance the development of Block 11B/12B in the Outeniqua basin offshore South Africa, Africa Energy Corp has hired Phindile Masangane as head of strategy and business development

Masangane will also join the Company's Board of Directors. 

Robert Nicolella, Africa Energy's chief executive officer, said, "We are pleased to have Phindile join our leadership group. She brings a significant amount of experience in the energy sector to our team. She will be instrumental in assisting Africa Energy as we work to move Block 11B/12B to the development phase and bring our world class gas and condensate discoveries to market. Her vast experience in energy infrastructure development, policy and regulation, along with project finance expertise, will play a pivotal role in shaping the strategic direction of the Company."

Natural gas exploration

Africa Energy is especially looking to explore natural gas presence from Block 11B/12B, in alignment with expert prediction that the region hosts 20% of global LNG capacity. With such marked potential, the company can use Masangane's extensive experience to develop the energy infrastructure of the region. 

Masangane has more than 15 years of executive management experience in the energy sector. She has previously served as the chief executive officer of the Petroleum Agency of South Africa, where she engaged with different stakeholders including government and non-governmental organisations advocating for the sustainable development of South Africa's indigenous oil and gas resources in support of energy security and economic development.

Masangane has been a partner of KPMG LLP and most recently part of the leadership team at Sasol South Africa (Pty) Ltd. She has a PhD in Chemistry from Imperial College, an MBA from University of the Witwatersrand and a Bachelor of Science (Chemistry & Mathematics) from University of Eswatini.

Scatec is targetting to reach financial close over the next 12 months. (Image source: Scatec ASA)

Renewable energy solutions provider, Scatec ASA, has signed a 25-year US$-denominated corporate power purchase agreement (PPA) with Egypt Aluminium for a 1.1 GW Solar PV + 100 MW/200MWh BESS project in Egypt backed by a sovereign guarantee.

Egypt Aluminium exports approximately 60% of its production to Europe. This solar PV + BESS project will be instrumental for Egypt Aluminium’s ambition to decarbonise its aluminium production, and to meet EU’s Carbon Border Adjustment Mechanism (CBAM) requirements which will be introduced in 2026.

The key next steps for the project are to work with the relevant authorities to allocate land, finalise grid connection and secure financing, and Scatec targets to reach financial close and start construction within the next 12 months.

“This is another testament to Scatec’s position as one of the leading renewables companies in Egypt. It is a groundbreaking project as it is the first utility scale PPA in the country with an industrial offtaker. I would like to thank all parties involved for making this happen, especially our partners at Egypt Aluminium. Further, our team has shown great persistence and creativity in securing this agreement and bringing new solutions to the market,” said Scatec CEO Terje Pilskog.

The estimated total capital expenditure for the solar PV + BESS project is approximately USD 650 million which will be funded by approximately 80% non-recourse project debt, and the remainder by equity from Scatec and partners. Scatec owns 100% of the project but is targeting to reduce its long-term economic interest by inviting additional equity partners. Scatec will be the designated EPC service provider, with an EPC share of approximately 90% of total capex, as well as asset manager (AM) and operations and maintenance (O&M) service provider.