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Category: Exploration

Local Exploration News Oil

Angola and Vietnam Strengthen Oil Exploration Efforts in Etosha Okavango Basin

Angola’s National Agency for Petroleum, Gas, and Biofuels (ANPG) has signed a memorandum of understanding (MoU) with Vietnamese company Xuan Thiên Group (XTG) to explore the oil potential of the Etosha Okavango Basin. The agreement, signed in Luanda, marks a significant step toward assessing the region’s hydrocarbon resources. Key Highlights of the Agreement 🔹 Exploration Scope: The study will cover approximately 300,000 square kilometers in the Etosha/Okavango Basin.🔹 Seismic Data Acquisition: The project includes obtaining

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International Corporate News Exploration Oil

Pancontinental Invests Over $5M in Namibia’s PEL 87 Exploration

Pancontinental has invested more than $5 million in the exploration of PEL 87 in Namibia’s Orange Basin during the first licence period. Awarded in early 2018, PEL 87 is a joint venture permit covering 10,970 km², with an eight-year exploration term divided into three periods, plus possible extensions. It can be converted into a production licence under pre-agreed terms. The permit is currently in its first additional exploration phase. Located on-trend with major hydrocarbon discoveries

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Local Exploration Mining Projects

Angola Expands Critical Minerals Exploration and Production

Angola has identified 34 of the 54 critical minerals recognized by the European Union and is intensifying exploration, production, and downstream projects to unlock its mining potential. The government is actively promoting investment across the critical mineral value chain to drive economic diversification and boost revenue from the sector. Several mining projects are progressing across Angola. In January 2025, UK-based Pensana secured funding from South Africa’s Absa Bank to accelerate the development of the Longonjo

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Oil Exploration Gas International Renewable Energy

Namibia Balances Oil Exploration and Green Energy Goals

President Nangolo Mbumba has defended Namibia’s dual pursuit of oil exploration and renewable energy, emphasizing that the country’s energy strategy aligns with global climate commitments, including the Paris Agreement. Amid concerns about the contradiction between fossil fuel projects and decarbonization efforts, Mbumba stressed that Namibia’s newly discovered oil resources will support a sustainable energy transition. “The development of our newly discovered oil resources is not contradictory to our decarbonization agenda. It is part of a

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Oil Exploration Gas International

Libya Reopens Oil and Gas Exploration to Foreign Investors

Libya’s National Oil Corporation (NOC) has launched its first public tender for oil and gas exploration since 2008, marking a major step toward reopening the country’s energy sector to international investment after years of political instability and operational challenges. The official presentation of the tender will take place in Tripoli this evening, where NOC officials will outline available exploration opportunities for foreign oil companies. This move comes as Libya struggles with hydrocarbon production setbacks, including

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Corporate News Exploration Gas Oil

Predator Oil Expands Gas Exploration in Morocco with MOU-5 Well

Predator Oil is advancing its gas exploration efforts in Morocco, having already drilled four wells within its Guercif license. The company began drilling the MOU-5 well on March 3, 2025, as part of a strategic push to assess the site’s gas potential. Estimates suggest the region may contain up to 6 trillion cubic feet (TCF) of gas. A successful discovery could enhance Morocco’s energy security and reduce its reliance on imports. Despite mixed results from

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Corporate News Exploration Oil

Sonatrach and Sinopec Sign $850M Deal for Algerian Oil Exploration

Algeria’s state-owned energy giant, Sonatrach, has signed an $850 million agreement with China’s Sinopec for the exploration and development of the Hassi Berkane-North (HBAN) oil field. The contract, signed on February 25, was formalized by Sonatrach’s Vice President of Exploration and Production, Farid Djettou, and Sinopec’s General Manager, Xue Weisong. Located 80 km southwest of Hassi Messaoud, the HBAN field spans 9,700 km² and includes hydrocarbon-rich blocks 428 and 429. The agreement, valid for 30

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Corporate News Exploration International Oil

Custos Energy Announces Promising Results from Second Exploration Campaign in Namibia’s Orange Basin

Custos Energy is pleased to provide an update on its second exploration and appraisal campaign for blocks 2813A and 2814B in Namibia’s rapidly growing Orange Basin oil and gas region. These blocks are part of Petroleum Exploration License 83 (PEL 83), operated by a subsidiary of Galp Energia, with Custos and Namibia’s National Petroleum Corporation (NAMCOR) each holding a 10% working interest. The PEL 83 Joint Venture partners have successfully drilled, cored, and logged the

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Corporate News Exploration Local Oil

Angola Signs Oil Exploration Agreement with TotalEnergies and ExxonMobil

The National Agency of Petroleum, Gas, and Biofuels (ANPG) has signed an agreement to assess the potential of free areas in Block 17/06 and Block 32/21. The agreement, signed on Friday, the 14th, involves TotalEnergies and ExxonMobil, marking a renewed effort to explore Angola’s fossil fuel resources. The signing ceremony was attended by ANPG Chairman Paulino Jerónimo, TotalEnergies’ General Director Martin Deffontaines, and ExxonMobil’s General Director Katrina Fisher. Jerónimo emphasized the agency’s commitment to fostering

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Oil Exploration Local News

Angola Offers Marginal Fields for Exploration to Attract New E&P Firms

Angola’s National Oil, Gas & Biofuels Agency (ANPG) is offering five marginal fields for exploration, alongside 24 other block opportunities. Located in operated blocks with competitive fiscal terms, these fields present an accessible entry point for smaller exploration and production (E&P) firms aiming to expand or enter the region. The sixth edition of Angola Oil & Gas (AOG), scheduled for September 3-4, 2025, in Luanda, will spotlight Angola’s marginal field opportunities. The event will bring

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