Mellitah Oil and Gas Company is set to begin drilling eight offshore gas wells at Structure A, located in Libyan waters with depths reaching up to 100 meters. Drilling operations will commence shortly following the arrival of the Valid Rig, operated by Borr Drilling—a global leader in offshore drilling services. The campaign is expected to last approximately 15 months and aims to produce around 160 million cubic feet of natural gas per day. The project
The African Export–Import Bank (Afreximbank) has pledged $3 billion to support the trade of refined petroleum products across Africa, aiming to reduce the continent’s dependence on imported fuel and strengthen intra-African energy trade. The announcement was made by Afreximbank Executive Vice President Kanayo Awani at an energy conference in Cape Town, South Africa. According to Reuters, Awani stressed the importance of enhancing Africa’s refining capacity to better utilize its abundant crude oil and natural gas
Reconnaissance Energy Africa Ltd. (ReconAfrica) has announced progress in its drilling operations at Prospect I, the largest target in its Namibian exploration campaign. Located within Petroleum Exploration Licence 073 (PEL 73) in the Kavango Basin, Prospect I marks a significant milestone in the company’s efforts to unlock new oil and gas resources. An updated independent resource assessment by Netherland, Sewell & Associates Inc. (NSAI) estimates that Prospect I holds approximately 365 million barrels of unrisked
Seplat Energy Plc has achieved a major milestone in Nigeria’s energy sector by installing over 850 million standard cubic feet per day (MMscfd) of gas infrastructure to enhance domestic gas supply. Speaking at a press briefing, Seplat’s Chief Operating Officer, Mr. Samson Ezugworie, stated that the development aligns with the company’s mission to reduce energy poverty and support sustainable national growth. “We’ve installed over 850 MMscfd of gas infrastructure across Nigeria to meet domestic demand,”
Egypt’s Ministry of Petroleum and Mineral Resources has announced three new oil and gas discoveries in the Western Desert, made by Khalda Petroleum Company—a joint venture between the Egyptian General Petroleum Corporation and U.S.-based Apache Corporation. The newly discovered fields are expected to yield approximately 12 million barrels of oil equivalent, including 4 million barrels of recoverable reserves. Daily production from the discoveries is projected at 2,750 barrels of oil and condensates, along with 20
Zambia’s Ministry of Energy has announced a dramatic reduction in the approval time for solar project applications—from six months to just 48 hours—as part of efforts to attract private sector investment and accelerate renewable energy development. The fast-tracked process aims to support the government’s goal of adding 1,000 MW of solar power to the national grid by 2025. With hydropower currently dominating Zambia’s energy mix and severe droughts in 2024 significantly reducing output, the government
Reconnaissance Energy Africa Ltd (ReconAfrica) has announced it is on schedule to drill its largest oil and gas prospect to date—Prospect I—within Petroleum Exploration Licence 073 (PEL 73) in northeastern Namibia. The company confirmed that the well is expected to be spudded this quarter, targeting substantial prospective resources in both oil and natural gas. “We remain on track to spud the well this quarter and are looking forward to unlocking the significant potential of the
Portuguese energy company Galp Energia has significantly boosted its oil reserves in Namibia’s offshore Orange Basin, adding approximately 700 million barrels of oil equivalent (boe) to its 3C contingent resources. This increase represents a 25% year-on-year rise, bringing the total to 2.79 billion boe. The updated resource estimates were independently verified by global consultancy DeGolyer and MacNaughton, based on data collected up to 30 November 2024. “3C contingent resources increased 25% year-on-year to 2,790 mboe,
Approximately seven European companies have shown strong interest in investing in Namibia’s green hydrogen economy, with potential investments exceeding N$430 billion (€20 billion), according to Ana Beatriz Martins, the European Union (EU) Ambassador to Namibia. Speaking at the grand opening of the HyIron Oshivela plant near Arandis, Martins noted: “EU companies are leading investors, contributing to Namibia’s economic growth and creating job opportunities for the future.” Namibia’s growing appeal lies in its potential to help
Barrick Gold Corp., the world’s second-largest gold producer and listed on the New York Stock Exchange under the ticker “GOLD,” is signaling a major strategic shift — one that leans heavily into copper. The Canadian mining giant has proposed changing its name to Barrick Mining Corp., dropping “Gold” from its title in a move that underscores its growing focus on copper and its diversification beyond its traditional bullion roots. Barrick is currently investing $6 billion
