Africa is on the brink of a significant investment surge in its oil and gas sectors, with a series of licensing rounds slated for the 2024/2025 period. According to the African Energy Chamber’s State of African Energy 2025 Outlook Report, these initiatives aim to unlock untapped energy potential and stimulate long-term economic growth.
In a landmark deal, Houston-based hydrocarbon exploration company VAALCO Energy has reported that all involved parties have finalized a production sharing contract (PSC) for Block P offshore Equatorial Guinea. According to the joint operating agreement, which was approved by the government of Equatorial Guinea in March 2024, the PSC provides for a development and production period of 25 years from the date of approval.
Global energy companies including Vitol, Africa Oil Corp. and ERHC Energy Inc. will showcase Africa’s premier energy sector opportunities at the Invest in African Energy reception in London this week, organized by the African Energy Chamber (AEC) (https://EnergyChamber.org). The reception serves to catalyze investor interest in Africa’s energy prospects ahead of the African Energy Week: Invest in African Energy conference in Cape Town this November, showcasing the potential of the African energy market and exploring strategies to unlock its full potential.
Nigeria’s oil production has been declining, missing its OPEC quota and severely hobbling government finance
European governments are scouring the world for natural gas as they seek to reduce their overwhelming and increasingly uncomfortable dependence on Russia’s Gazprom.