Namibia is set to solidify its position as a key player in global oil and gas exploration, with four rigs preparing to commence drilling wells valued at $100–200 million each in the Orange Basin. These high-stakes operations are expected to begin within the week. Simran Bandal, Subsurface Senior Analyst at Wood Mackenzie, emphasized the potential of these developments to elevate Namibia’s standing in the global energy sector. The Orange Basin has already proven its promise
The Helix Q7000, a purpose-built DP3 semi-submersible vessel owned by U.S.-based offshore energy services provider Helix Energy Solutions, has arrived at Namibia’s Port of Walvis Bay as part of its preparations for an upcoming decommissioning project in Brazil’s Campos Basin. The vessel docked on December 16, 2024, and is scheduled to remain at the port for approximately ten days. During its stay, critical maintenance operations will be conducted, including hull cleaning to remove marine growth
Renaissance Africa Energy Company Limited has announced ministerial approval for its acquisition of Shell Petroleum Development Company’s onshore oil assets in Nigeria. In January 2024, Shell agreed to sell its Nigerian onshore oil assets to Renaissance Africa for over $1.3 billion, subject to regulatory clearance. The assets include an estimated 6.73 billion barrels of oil and condensate reserves, along with 56.27 trillion cubic feet of associated and non-associated gas reserves. Renaissance Africa is a consortium
TotalEnergies Exploration and Production Company, MRS Oil and Gas Limited, Sahara Deepwater Resources Limited, and 20 other companies have emerged as bidders for newly available oil blocks in Nigeria. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclosed the bidders for 25 oil blocks available for exploration and production during the 2022/23 Mini Bid and Nigeria 2024 Licensing Round Commercial Bid Conference held in Lagos. A total of 31 oil blocks were offered during the round,
Azule Energy, an Angola-based joint venture, has successfully finalized a farm-in agreement for Block 2914A in Namibia’s Orange Basin. With this transaction, Azule Energy now holds a 42.5% participating interest in the block, located offshore Namibia, an area known for significant hydrocarbon discoveries since 2022. The contracting group for Block 2914A now includes Rhino Resources Namibia Ltd. (Operator, 42.5%), Azule Energy Exploration Angola (KB) Ltd. (42.5%), Namcor Exploration and Production (10%), and Korres Investments (5%).
Onshore oil exploration in the Cabinda Norte block is set to begin in 2025, according to Idonio dos Santos, administrator for ACREP – Exportacao Petrolifero S.A. Speaking to the press after a project presentation ceremony in Cacongo, Cabinda, dos Santos confirmed that all bureaucratic hurdles for the project have been cleared, including the opening of roads and the construction of a shipyard. The next phase of the project will involve research aimed at assessing and
Dangote Refinery has announced a reduction in the ex-depot price of premium motor spirit (PMS), commonly known as petrol, to N899.50 per litre. This follows a previous price adjustment to N970 per litre on November 24. Anthony Chiejina, Group Chief Branding and Communications Officer for Dangote Group, highlighted that the price cut is aimed at providing relief to Nigerians during the festive season. He stated, “To alleviate transport costs during this holiday season, Dangote Refinery
Brent oil futures for delivery in February 2025 closed at $73.14 yesterday, down from $73.91 at the start of the trading session. This decline represents a 1.04% decrease, translating to a drop of approximately 77 cents. In the 2025 State Budget (OGE), effective from January 1, the government has set a reference price of $70 per barrel and aims to maintain production above 1.1 million barrels per day. According to Reuters, the oil and gas
In November, Angola produced over 33.8 million barrels of oil, averaging approximately 1.1 million barrels per day, according to the National Agency for Oil, Gas, and Biofuels (ANPG). The official monthly report on oil production, accessed by VerAngola, revealed that the country achieved a total of 33,841,872 barrels during the month. “Angola’s oil production for November was 33,841,872 barrels, which corresponds to a daily average of 1,128,062 barrels per day (BOPD), surpassing the projected 1,073,910
Houston-based VAALCO Energy has signed a contract with UK-based Borr Drilling to provide a jack-up rig for its 2025/2026 drilling program off the coast of Gabon. This partnership signals a rise in offshore drilling activity across Africa and reflects the increasing trend of international collaboration in the continent’s energy sector. As the energy landscape evolves, the upcoming Invest in African Energy (IAE) Forum in Paris next May will provide a vital platform for fostering such
