BW Energy and Maurel & Prom Acquire Stakes in Angola’s Block 14 and 14K from Azule Energy BW Energy, in partnership with Maurel & Prom, has signed an agreement to acquire offshore interests in Angola from Azule Energy, marking BW Energy’s entry into the Angolan upstream sector. Under the transaction, the consortium will obtain a combined 20% non-operated interest in Block 14 and a 10% non-operated interest in Block 14K. BW Energy’s share of the
Axian Energy Enters Zambia with Acquisition of Bangweulu Solar Project Renewable energy developer Axian Energy has officially entered the Zambian market with the acquisition of the Bangweulu Solar Project, reinforcing its commitment to sustainable energy and pan-African expansion. Located in Lusaka Province, the Bangweulu Solar Project has an installed capacity of 54.3 megawatts peak (MWp) and generates approximately 87 gigawatt-hours (GWh) of electricity annually — enough to power more than 82,500 households. Through this transaction,
QatarEnergy Signs Deal with Shell to Acquire 27% Stake in North Cleopatra Offshore Block, Strengthening East Mediterranean Role QatarEnergy has signed an agreement with Shell to acquire a 27% participating interest in the North Cleopatra block offshore Egypt, the Qatari energy company announced on Sunday. The acquisition underscores QatarEnergy’s expanding role in the East Mediterranean and across Africa. The deal, which is subject to approval by Egyptian authorities, will leave Shell with a 36% operating
Harmony Gold Acquires Australia’s MAC Copper Mine for $1.08 Billion to Boost Global Copper Portfolio South Africa’s Harmony Gold has taken a major step in its international expansion strategy with the proposed $1.08 billion (R19 billion) acquisition of Australia’s MAC Copper. The transaction, first announced in May 2025, moved closer to completion after MAC Copper shareholders overwhelmingly approved the deal. Headquartered in Randfontein, Harmony Gold is South Africa’s largest gold producer by volume, operating a
Chevron has strengthened its position in Namibia’s offshore sector by acquiring an 80% stake and operatorship in Petroleum Exploration License (PEL) 82. Custos Energy and NAMCOR will each retain a 10% interest in the license. Located in Namibia’s Walvis Basin, PEL 82 is part of a region often referred to as an “oil kitchen” due to its rich hydrocarbon source rock and strong potential for commercial discoveries. The Barremian-Aptian source rock, a key driver of
Red Sky Energy, an Australian oil and gas company, has secured a 35% interest in the Sonangol-operated Block 6/24, located offshore Angola in the Kwanza Basin. This acquisition follows the signing of a risk service contract (RSC) with the Angolan National Agency for Oil, Gas, and Biofuels (ANPG). Sonangol E&P, the block’s operator, retains a 50% interest, while Red Sky Energy holds 35%, and ACREP controls the remaining 15%. Block 6/24 lies approximately 12 kilometers
Chappal Energies has officially concluded the acquisition of Equinor Nigeria Energy Company (ENEC), a subsidiary of Norway’s Equinor ASA, solidifying its presence in Nigeria’s energy sector. Initially announced in November 2023, the transaction saw Equinor sell its 54% stake in the OML 128 oil and gas lease to Chappal Energies. The acquisition was finalized on December 6, 2025, following a year-long process. The deal is valued at up to $1.2 billion, comprising a $710 million
ABUJA, 21 October 2024: Nigeria has officially approved Seplat Energy’s $1.28 billion acquisition of ExxonMobil’s onshore assets, as confirmed by Gbenga Komolafe, CEO of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The long-awaited approval comes more than two years after the deal was initially agreed upon in February 2022. The sale had faced regulatory scrutiny but received final clearance following President Bola Tinubu’s announcement on October 1, stating the deal would gain ministerial approval within
Petrobras has received board approval to acquire a 10% stake in South Africa’s Deep Western Orange Basin (DWOB) block from TotalEnergies. The DWOB block is located in deep waters of the Orange Basin, an area where significant oil discoveries have recently been made by TotalEnergies, Shell, and Galp. Following the acquisition, Petrobras will hold a 10% stake in the DWOB block, joining a consortium led by TotalEnergies (40% and operator), along with QatarEnergy (30%) and
Mining exploration companies Avanti Gold Corp. and MTM have finalized a Share Exchange Agreement, encompassing Avanti’s acquisition of prospecting rights in South Africa’s Kraaipan Greenstone Belt. Under this agreement, Avanti Gold Corp. will issue 29 million common shares to MTM’s shareholders in exchange for all issued and outstanding share capital of MTM. These shares will be subject to a five-month resale restriction and other relevant securities regulations. The strategic move expands Avanti Gold Corp.’s portfolio without constituting a fundamental
