While the search for hydrocarbons has been ongoing in certain parts of Africa for decades with varying degrees of success, a slew of new oil and gas discoveries has pushed the continent to the forefront of global exploration hotspots. Given its string of recent discoveries, one of the countries in West Africa, Cote d’Ivoire, is forecasting a threefold boost in its oil output over the next three years.
With a strong slate of exploration and production activities and competitive licensing rounds in 2024, Africa is well-positioned to realize its potential as the global energy frontier. These bid rounds are poised to cement Africa as a global hub for hydrocarbon development.
The Minister of State Petroleum Resources (Gas), Mr. Ekperikpe Ekpo, has listed adoption of gas technology and innovation, shaping effective policy frameworks, unlocking financing avenues, nurturing capacity building, and cultivating entrepreneurship as measures that would the future Nigeria’s and Africa’s energy landscape.
With a strong slate of exploration and production activities and competitive licensing rounds in 2024, Africa is well-positioned to realize its potential as the global energy frontier. These bid rounds are poised to cement Africa as a global hub for hydrocarbon development.
Players in the Oil and Gas Industry say Artificial intelligence (AI), has the potential to revolutionise Africa’s oil and gas sector by driving innovation across various aspects of the industry.
Oslo-listed oil and gas E&P player BW Energy has struck oil at a pilot appraisal well located on a field in the Dussafu license off the coast of Gabon. The drilling activities were carried out with a jack-up rig owned by Borr Drilling, an offshore drilling contractor.
At the Clean Cooking Summit organized by the International Energy Agency (IEA), TotalEnergies announced its ambition of giving 100 million people in Africa and India access to clean cooking by 2030. TotalEnergies will therefore invest more than $400 million in the development of liquefied petroleum gas (LPG) for cooking.
Tanzania’s energy sector is on the cusp of significant growth, with vast gas resources and strategic initiatives positioning the country as a key player in the region. With substantial gas reserves, Tanzania aims to become a major LNG exporter, with projects led by industry giants like Equinor, Shell, and ExxonMobil.
Energy and commodities company Vitol will participate at the Angola Oil&Gas (AOG) 2024 conference (https://apo-opa.co/4b9OwCw) – scheduled for October 2-3 in Luanda – as a silver sponsor. The sponsorship demonstrates the company’s dedication to fueling the expansion of the Angolan oil and gas market by leveraging its extensive expertise and services.
Upstream oil and gas company Afentra secured approval from the Angolan government to acquire a 12% stake in Block 3/05 and a 16% share in Block 3/05A from international energy firm Azule Energy.