Grand Gulf Energy Secures Option for Offshore Namibia Oil Block with 1.1 Billion Barrels Prospective Resource Grand Gulf Energy Limited is set to make its entry into the offshore oil and gas sector after securing an exclusive option to acquire 100% of Wrangel Pty Ltd. Wrangel has applied for a 70% working interest in Block 2312, located in Namibia’s Walvis Basin. The Australian-listed company, which currently specializes in helium exploration in the United States, announced
Pancontinental Energy Ups Prospective Oil Resource Estimate at Namibia’s Oryx Prospect to 2.5 Billion Barrels Pancontinental Energy NL has significantly upgraded its prospective oil resource estimates at the Oryx prospect, located within Petroleum Exploration Licence 87 (PEL 87) offshore Namibia, following improved seismic analysis. The updated High Case (3U) estimate now exceeds 2.5 billion barrels (100% gross). This revision comes after the company completed a new Quantitative Interpretation (QI) of seismic data in the Orange
Angola’s Economy Grows 4.4% in 2024: Strongest Expansion in a Decade Fueled by Oil and Diamonds Angola’s economy grew by 4.4% in 2024, marking its strongest annual expansion since 2014, according to the World Bank’s latest Angola Economic Update. This robust growth was primarily driven by a recovery in the oil sector, increased diamond production, and strong performance in the commerce and fishing industries. Despite this positive momentum, economic growth is projected to moderate between
Angola Launches Production at Begónia Offshore Oil Project The National Agency for Petroleum, Gas and Biofuels (ANPG), TotalEnergies (the operator), and partners of the Block 17/06 Contractor Group have announced the start of oil production at the Begónia Project. The extracted crude will be processed via the FPSO Pazflor, located in Block 17, offshore from Angola’s Zaire Province. The Block 17/06 partnership includes TotalEnergies (30% operator interest), Sonangol EP (30%), SSI (27.5%), ETU Energias (7.5%),
Woodside Energy Assumes Control of Bass Strait Oil and Gas Operations, Unlocking $60M in Synergies Woodside Energy announced on Tuesday that it will assume operatorship of the Bass Strait oil and gas assets from ExxonMobil, a move expected to generate approximately $60 million in synergies. The Bass Strait portfolio includes the Gippsland Basin and Kipper Unit joint ventures. Both Woodside and ExxonMobil each hold a 50% stake in the Gippsland Basin and 32.5% in the
Etu Energias to Build $24,000-Ton Lubricants Plant in Luanda, Creating Jobs and Reducing Imports by 2026 Etu Energias has announced the construction of a new lubricants manufacturing facility in Luanda, Angola. With a planned annual production capacity of 24,000 metric tons, the plant is expected to be completed within the first quarter of 2026. The facility aims to meet growing domestic demand, reduce dependence on imports, and create new employment opportunities. The future factory will
TotalEnergies Delays Final Decision on Namibia’s Venus Oil Discovery Amid Government Talks TotalEnergies has confirmed it will not proceed with the development of its multi-billion-dollar Venus oil discovery in Namibia’s Orange Basin until a formal agreement is reached with the Namibian government. During the company’s second-quarter earnings call, TotalEnergies CEO Patrick Pouyanné emphasized the need for alignment and mutual understanding before committing to a final investment decision (FID). “You’re dealing with a country that is
TSE Oil to Launch €80 Million Exploration Programme in Namibia’s Walvis Basin Block 2312 Namibian energy firm TSE Oil and Gas has announced its readiness to begin exploration activities in Block 2312 of the Walvis Basin, supported by a comprehensive €80 million (N$1.6 billion) programme. The initiative includes seismic surveys and the drilling of two offshore wells. TSE Oil CEO Thomas Shindi stated that the company submitted its application for a Petroleum Exploration Licence (PEL)
PETROFUND Commits N$115 Million to Train Namibians for Careers in Upstream Oil and Gas Sector The Petroleum Training and Education Fund (PETROFUND) has invested more than N$115 million to develop skilled Namibian professionals for the country’s growing upstream oil and gas industry. Speaking at the 2nd Youth in Oil and Gas Summit, PETROFUND Chief Executive Officer Nillian Mulemi highlighted the impact of the fund’s flagship scholarship programme, which has already benefited 438 Namibians. The scholarship
Namibia Aims for 150 Million Barrels of Oil by 2030 in Ambitious Energy Strategy Unveiled in NDP6 Namibia has announced bold ambitions to produce 150 million barrels of oil by 2030, as outlined in the newly launched Sixth National Development Plan (NDP6). The plan, unveiled on Monday by President Netumbo Nandi-Ndaitwah, sets forth strategic targets across key sectors, with energy development at the forefront. The production target follows a wave of major offshore oil discoveries
