PAC Capital Limited announced that Etu Energias has purchased Galp Energia’s interests in three offshore Angolan blocks for $443 million. The acquisition includes Galp’s 5% non-operating stake in Block 32, a 9% non-operating stake in Block 14, and a 4.5% non-operating stake in Block 14K. Edson R. Dos Santos, Chairman and CEO of Etu Energias, highlighted the significance of the deal: “The successful collaboration between all parties was crucial for this transaction, marking Etu Energias’
Namibia is on the brink of an economic transformation, driven by significant oil discoveries off its Atlantic coast. At the bustling Walvis Bay port, workers are preparing for a surge in activity as oil exploration equipment is staged alongside typical consignments of minerals and vehicles. Recent successes by TotalEnergies SE, Shell Plc, and Galp Energia SGPS SA have highlighted Namibia’s potential as a major new oil province. Since early 2022, drilling in the region has
The Nigerian National Petroleum Company (NNPC) Limited has announced that Nigeria is set to become a net exporter of petroleum products by December 2024. Mele Kyari, the Group Chief Executive Officer (GCEO) of NNPC, attributed this forecast to positive developments in the energy and gas sectors. Kyari made this announcement during a session with the Senate Committee on Finance, chaired by Senator Sani Musa. He highlighted several key indicators supporting this projection, including the imminent
In June, Angola’s oil production totaled 34.6 million barrels, averaging 1.155 million barrels per day (MBPD). This represents a 0.87% increase from May’s output of 1.108 MBPD. According to PetroAngola’s Monthly Petroleum Bulletin, Block 17 led production with an average of 393,655 barrels per day (KBPD), followed by Block 32 at 154,960 KBPD, and Block 0 at 147,205 KBPD. Gas production also saw a rise, reaching 87,230 million cubic feet (MMSCF) in June, or a
Etu Energias aspires to become the leading renewable energy provider in the country, a goal announced last Friday by the company’s Board of Directors President, Edson dos Santos, during the “Coffee with Journalists” event in Vila do Soyo. Edson dos Santos outlined the company’s strategy to prioritize solar panel installations to replace fossil fuels. He emphasized that this shift aims to mitigate the environmental and health impacts of fossil fuels while offering a more cost-effective
A security firm linked to Rwanda’s ruling party has been contracted to safeguard TotalEnergies’ $20 billion liquefied natural gas (LNG) project in Mozambique, marking a significant expansion of Rwanda’s commercial interests in the region. According to The Financial Times, Isco Segurança—a joint venture between Rwanda’s Isco Global Limited and a local Mozambican company—is providing unarmed security services for the project in Cabo Delgado province. This development follows an Islamist insurgency attack in Palma in 2021,
Egypt plans to significantly enhance its oil production capacity through a substantial investment. The government has announced a $1.2 billion investment aimed at increasing its oil output. Currently, Egypt is one of Africa’s largest oil producers with a capacity of approximately 559,000 barrels per day. The investment, slated for the 2024/2025 fiscal year, will fund the drilling of 110 exploratory wells. This initiative is part of a larger strategy to invest $7.2 billion in drilling
Egypt plans to drill 110 exploratory gas and oil wells, investing $1.2 billion during the 2024–2025 fiscal year, according to Minister Karim Badawi. In a meeting with a parliamentary committee reviewing the new government’s program, Badawi stated that by 2030, Egypt aims to have drilled a total of 586 exploratory wells for gas and oil, with a cumulative investment of $7.2 billion. Regarding exploration activities, the minister explained that there are currently 145 active commitment
The National Oil Corporation (NOC) has successfully started operating a new pipeline from the North Hamada oil field to the Mellitah oil port. In a statement on Thursday, the NOC detailed that oil production from the North Hamada field has begun flowing to the Mellitah port via the 250-kilometer (El Feel-Mellitah) pipeline. The corporation reported that crude oil pumping has been consistent and secure, starting from the main storage tanks and reaching the receiving point
In the first quarter of 2025, Angola’s National Oil, Gas, and Biofuels Agency (ANPG) plans to launch a limited tender offering 10 blocks in the Kwanza and Benguela basins, including five marginal fields—a first for the country. To attract investment in these block opportunities, the ANPG is inviting companies to participate in the upcoming licensing round. Negotiations are already open, and companies are encouraged to contact the ANPG ahead of the official licensing launch. As
