The floating production, storage, and offloading vessel (FPSO) Agogo—developed by Azule Energy (operator), the National Oil, Gas and Biofuels Agency (ANPG), and Block 15/06 partners Sonangol Exploration & Production and Sinopec—has arrived in Angolan waters as of May 15. With a production capacity of 120,000 barrels of oil per day, the vessel plays a key role in the upcoming Agogo Integrated West Hub Project, set to begin operations in the second half of 2025. According
The Angola Sovereign Wealth Fund (FSDEA), in partnership with entrepreneur Haim Taib — Founder of the international firm Mitrelli and the Menomadin Group — has launched a $1 billion investment initiative to accelerate development along the Lobito Corridor. This vital trade route spans Angola, Zambia, and the Democratic Republic of the Congo (DRC). The new initiative, named the Lobito Corridor Impact Development (LCID) platform, will operate as an independent investment vehicle. Its mission is to
The World Bank has approved a $350 million grant to support the development of Malawi’s 358.5 MW Mpatamanga Hydropower Storage Project (MHSP), a transformative initiative expected to generate 1,544 GWh of clean energy annually—enough to power over one million households. “MHSP is a top priority for our government as the least-cost option to meet our growing energy demand and achieve our access targets,” said Ibrahim Matola, Malawi’s Minister of Energy. With a total estimated cost
The Republic of Congo has approved two key decrees aimed at accelerating growth in the hydrocarbon sector and reinforcing the strategic role of the national oil company, Société Nationale des Pétroles du Congo (SNPC). During a Council of Ministers meeting held on May 13, the government granted SNPC the new Likouala II exploration permit. This followed the relinquishment of the original concession by independent oil and gas company Perenco and its joint venture with SNPC,
Côte d’Ivoire has signed a strategic partnership with U.S.-based Yaatra Ventures to develop a second oil refinery, aiming to expand its refined petroleum exports across West Africa. The project, developed in collaboration with the state-owned Société Ivoirienne de Raffinage (SIR), is expected to attract more than CFA 3,000 billion (approximately $5.1 billion) in investment. During the signing ceremony, Energy Minister Mamadou Sangafowa Coulibaly emphasized the country’s ambition to double its refining capacity. Yaatra and SIR
Egypt has discovered gas-bearing zones in a well located in the Western Desert, with a net thickness of 253 feet (approximately 77.1 meters) and an estimated yield of 12.5 million barrels of oil equivalent. Engineers are currently conducting production tests while advancing plans to extend a 23-kilometer pipeline, valued at $10 million. Additional drilling is also underway, aimed at boosting daily gas output to 30 million cubic feet. Meanwhile, experts are evaluating two newly discovered
The Federal Government of Nigeria has finalized the key legal and governance frameworks required to launch the African Energy Bank, marking a significant step forward in the project’s implementation. During a recent meeting in Abuja, Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, hosted African Export-Import Bank (Afreximbank) President Prof. Benedict Oramah and African Petroleum Producers’ Organization (APPO) Secretary General Omar Farouk Ibrahim to review progress on the initiative. A statement issued on Sunday
Sintana Energy Inc. has secured a new exploration opportunity in Angola through a strategic agreement that strengthens its position in West Africa’s energy sector. The agreement grants Sintana an indirect 5% interest in the KON-16 onshore block in Angola’s Kwanza Basin through a partnership with UK-based Corcel Plc. The collaboration also opens the door for both companies to pursue additional ventures across the region. As part of the deal, Sintana will invest $2.5 million—beginning with
Angola has expressed its readiness to assist Namibia in building its oil and gas industry by leveraging its decades of experience in the sector. Presidential spokesperson Alfredo Hengari confirmed that Angola is well-positioned to train Namibians in oil and gas and has already begun capacity-building initiatives. He reaffirmed Angola’s full commitment to supporting the development of Namibia’s emerging energy sector. This pledge comes in the wake of Namibian President Netumbo Nandi-Ndaitwah’s recent working visit to
Seplat Energy has unveiled plans to revive over 400 dormant oil wells across its assets as part of a strategic move to boost production and reinforce its position in Nigeria’s energy sector. The announcement was made by Chief Operating Officer Samson Ezugworie during the company’s post-Annual General Meeting (AGM) held in Lagos on Wednesday. Seplat currently operates eight of the 11 oil blocks in its portfolio—seven onshore and four offshore. Ezugworie described these assets as
