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Category: Exploration

Oil Corporate News Exploration

Africa Oil’s Marula-1X Well Comes Up Dry, but Data to Guide Future Exploration in Namibia

Africa Oil Corp. has confirmed that its Marula-1X exploration well in Namibia’s Orange Basin did not encounter hydrocarbons in its primary target, despite the drilling operation being technically successful. As a result, a Drill Stem Test (DST) was not conducted. The Marula-1X well was safely drilled to a total measured depth of 6,460 metres using the Deepsea Mira semi-submersible drilling rig. The well targeted Albian-aged sandstones within the Marula fan complex, located approximately 47 kilometres

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International Exploration Gas Oil

Turkey Expands Energy Reach with New Exploration Plans in Bulgaria, Libya, and Iraq

Turkey is actively negotiating new oil and gas exploration deals in Bulgaria, Iraq, and Libya as part of a broader push to boost domestic production and strengthen its role as a regional energy hub, according to Energy Minister Alparslan Bayraktar. State-owned energy company Turkiye Petrolleri AO (TPAO) is expected to sign an agreement within the coming month with an undisclosed foreign partner to conduct offshore exploration in Bulgaria’s section of the Black Sea, Bloomberg reported.

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Corporate News Exploration Oil

ReconAfrica Expands Into Angola Through Strategic Oil Exploration Deal

ReconAfrica has signed a Memorandum of Understanding (MOU) with Angola’s National Oil, Gas and Biofuels Agency (ANPG) to jointly explore the Etosha-Okavango Basin in southeastern Angola. The agreement marks a significant expansion of ReconAfrica’s exploration footprint in the Damara Fold Belt and Rift Basin, adding 5.2 million acres in Angola to its existing 6.3 million acres in Namibia. This low-cost entry into Angola’s onshore sector comes with minimal work obligations and aligns with the company’s

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Corporate News Exploration International Oil

Chevron and Others Exit Egypt’s Red Sea Blocks After Exploration Disappointments

Several multinational oil and gas companies, including Chevron, have withdrawn from Egypt’s Red Sea concession blocks following unsuccessful exploration efforts, according to the Egyptian Ministry of Petroleum. In 2019, Egypt awarded exploration licenses in the Red Sea to Chevron, Shell, and Abu Dhabi’s Mubadala Investment Company through an international bidding round aimed at positioning the country as a regional energy hub. “These companies invested millions of dollars within the agreed timelines,” said Moataz Atef, ministry

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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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