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.
Namibia is aiming to raise local content and carried participation in the oil and gas sector from 10 percent to 15 percent by 2030, as the country prepares to leverage its petroleum discoveries for national development. In the next five years, the government of Namibia plans to increase carried participation from 10% to 15%.
Tullow Oil has agreed to sell its entire stake in Kenya to Auron Energy E&P, an affiliate of Gulf Energy Ltd, for a minimum cash consideration of $120 million.
The deal marks Tullow’s full exit from the East African country, where it holds 463 million barrels of 2C oil resources in the South Lokichar Basin.
Ghana’s oil and gas sector is showing clear signs of resurgence, underscored by Eni’s recent declaration of commerciality for the Eban-Akoma complex in the Cape Three Points Block 4.
Floating liquefied natural gas (FLNG) terminals are gaining momentum on the global LNG market, with capacity expected to triple by 2030 according to research from Rystad Energy. Once hindered by technical and operational challenges, FLNG projects are now achieving utilization rates comparable to onshore terminals.
The U.S.-EU trade deal calls for the European Union buying $250 billion worth of American energy every year over the next three years. While additional U.S. energy supply would further help the bloc on its path to ditch Russian energy imports within a couple of years, the volumes needed to meet the goal in the trade deal are so high that they are unrealistic, according to analysts.
KBR will deliver FEED and related services aimed at optimising operational efficiency in the field. The work is part of KOC’s wider strategy to reinforce Kuwait’s energy security and invest towards long-term, sustained oil production.
Floating liquefied natural gas (FLNG) terminals are gaining momentum on the global LNG market, with capacity expected to triple by 2030 according to research from Rystad Energy. Once hindered by technical and operational challenges, FLNG projects are now achieving utilization rates comparable to onshore terminals. With LNG demand rising alongside the growing viability of smaller gas fields, FLNG is emerging as a faster, more flexible and cost-effective solution capable of adapting to shifting market dynamics while unlocking previously stranded reserves.
Baker Hughes announced today a definitive agreement to acquire Chart Industries in a deal valued at a total of $13.6 billion. Notably, the acquisition will strengthen Baker Hughes’ presence in the LNG and data center sectors.
Portugal’s Galp Energia has begun receiving offers for its massive Mopane oil discovery off Namibia’s coast, signaling that one of Africa’s most promising new hydrocarbon frontiers could be edging closer to commercial production. The company told investors earlier this month it’s in advanced talks with potential buyers and expects to announce a sale later this year. Galp controls an 80% stake in Mopane and, according to Bloomberg, is preparing for a development that could involve two floating production storage and offloading (FPSO) units, each pumping around 120,000 barrels a day.