In an effort to revitalize E&P activities and yield new discoveries, both mature and emerging hydrocarbon markets in Africa are ramping up exploration through ongoing and planned licensing rounds in 2024.
Poised to drive the continent’s exploration and production sectors, these bid rounds are set to position Africa as a global exploration hub, while ushering in a new era of industry growth and innovation.
Libya
As part of the country’s plans to boost oil production to two million barrels per day within the next three to five years, Libya’s National Oil Corporation (NOC) has announced plans for an oil and gas licensing round in 2024.
According to the NOC, the licensing round will comprise a services contract and production sharing contract, expected to result in the development of joint ventures between local private upstream firms and the parastatal company.
The licensing round will focus on fields in the Sirte, Murzuq and Ghadames basins and presents a vital opportunity for Libya to attract new upstream investments to revitalize its oil and gas industry.
What’s more, in a bid to raise the country’s production capacity, the NOC has set up a strategic planning office to increase investor confidence in the sector and stabilize production.
Tanzania
The East African country has proposed auctioning up to 26 oil and gas blocks by June 2024 and will award licenses to the winners by December of the same year.
The round will serve as Tanzania’s fifth bid round and is designed to revive interest in the country’s largely underdeveloped exploration and production sector.
Of the 26 demarcated blocks open for bidding – which are likely to be in the Rufiji, Ruvuma, Mandawa and Mafia Deep basins – 11 will be situated in the country’s offshore, while 15 will be located onshore.
The government of Tanzania is currently in talks with a multi-client data contractor to compile extensive 2D and 3D seismic data within the basins.
Mauritania
With bp, Kosmos Energy, TotalEnergies and Shell having spearheaded exploration activities in Mauritania in recent years, the West African country’s upcoming licensing round for 15 offshore blocks in 2024 is poised to mark a significant milestone in its energy sector.
Serving as a focal point for exploration, Mauritania’s coastal basin features extensive 2D and 3D seismic data coverage covering over 100,000 km and 100,000 km2, respectively.
The discovery of the Chinguetti oilfield in 2001 marked the opening of the tertiary petroleum system in the basin, while the 2015 GTA gas discovery in Block C8 unveiled deeper Cretaceous petroleum systems.
Egypt
Last September, the Egyptian General Petroleum Corporation (EGPC) and the South Valley Egyptian Petroleum Holding Company (Ganope) launched a new licensing round aimed at boosting the country’s energy reserves and production capacity.
The licensing round will close on 15 February 2024 and offers 23 on- and offshore blocks for oil and gas exploration in the Western Desert, Eastern Desert, Gulf of Suez and Red Sea.
The EGPC has five onshore blocks available for exploration in the Western Desert, two onshore blocks in the Eastern Desert, and three offshore blocks in the Gulf of Suez as part of the licensing round.
Meanwhile, Ganope has five onshore blocks available in the Western Desert, four offshore blocks in the Gulf of Suez, and four offshore blocks in the Red Sea.
Tenders awarded during the licensing round will have a maximum exploration period of seven years.
Angola
Last September, Angola’s national concessionaire, the National Agency of Oil, Gas and Biofuels (ANPG), launched a public tender to award 12 onshore blocks in the Kwanza and Congo basins to mitigate the country’s production decline and accelerate exploration activities in the southern African country.
The acreages in Angola’s latest bid round include CON 2, CON 3, CON 7 and CON 8 blocks in the Congo Basin and KON 1, KON 3, KON 7, KON 10, KON 13, KON 14, KON 15 and KON 19 blocks in the Kwanza basin.
The tender is expected to run for six months, with the ANPG set to announce the winners in March 2024.
South Africa
The government of South Africa will put up at least 10 new onshore blocks for shale gas developments in the country’s Karoo Region in an effort to reduce imports and alleviate an ailing energy grid.
Expected for 2024 or 2025, the licensing round will serve as the country’s first competitive auction for oil and gas resources.
According to the state-owned Petroleum Agency of South Africa, the Karoo basin is estimated to hold up to 209 trillion cubic feet of recoverable shale gas and includes 90,000 km2 of acreage previously held by Shell.
