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Sub-Saharan Africa upstream in brief 31 May 2024 (Only $1,350 !!)

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Report summary

The Sub-Saharan Africa upstream in brief provides Wood Mackenzie's expert opinion and analysis of the key events impacting the upstream industry in the region. We draw upon our upstream database and data tools to help deepen our clients' understanding of the region. The report primarily focuses on exploration and appraisal drilling, project developments, production, licensing, fiscal and regulatory changes, geopolitics, and corporate and M&A activity.

Table of contents

• ExxonMobil – Seplat deal: Some progress?
• ExxonMobil’s oil discovery on Block 15 Angola should be a quick tie-back
• Nigeria’s Yoho Floating LNG project progress update
• ADNOC acquires stake in Rovuma LNG from Galp - a Lens snapshot
• TotalEnergies FIDs Kaminho deepwater oil project in Angola
• Nigeria liquids production: Oil increased marginally but condensate declined
• Equatorial Guinea reboots its licensing offer with 10% tax kicker
• NNPC restarts oil production from the Utapate field
• Nigeria launches the 2024 Bid Round
• Eni and BP JV enters Namibia’s Orange basin
• Sintana Energy and Chevron grow their Namibian positions
• Trident Energy makes a bold entry to Congo in deals with Chevron and TotalEnergies
• First E&P begins production from the offshore Madu field in Nigeria
• Mopane could be Namibia's best discovery yet
• Niger is set to become Africa’s newest oil exporting nation
• Nigeria crude oil production: a bad month for Bonga, Akpo and Bonny
• Wing Wah will start monetising gas in Congo
• Panoro Energy nearing block EG-23 PSC in Equatorial Guinea
• New milestones achieved at East Africa Crude Oil Pipeline (EACOP) project
• Upstream Investment Trends in Africa
• CNOOC set to expand in deepwater Africa
• New hiccups for Mozambique's onshore LNG
• Zanzibar opens its first licensing round
• Nigeria liquids production: sustained growth remains elusive
• Nigeria’s president issues executive directives to stimulate oil and gas investments
• Eni makes Calao discovery in ultra-deepwater Cote d’Ivoire
• TotalEnergies expands Orange sub-basin position in South Africa
• Shell rounds off its Namibia exploration campaign with Enigma well
• BW Energy sees potential at Kudu in Namibia
• VAALCO acquires Svenska Petroleum, extends activity in West Africa
• Congo Marine XII FLNG starts loading first cargo
• **on Oil Company acquires Assala Energy via pre-emption
• Nigeria oil production – it’s all about steady progress
• TotalEnergies’ Venus gets bigger, as Mangetti well hits targets in Namibia.
• Indigenous players dominate Angola's onshore licensing round
• Nigeria plans a deepwater licensing round
• Sub-Saharan Africa upstream: 2023 in review
• Upstream operations set to resume in Nigeria’s Ogoniland
• TotalEnergies expands its deepwater Namibia position
• Galp Energia’s Mopane struck oil in Namibia
• **on’s military government to pre-empt Maurel & Prom’s acquisition of Assala Energy
• Angola exits OPEC
• Nigeria liquids production: two steps forward, one step back
• Six blocks awarded in Sierra Leone’s fifth offshore licensing round
• Invictus Energy succeeds with play-opening onshore well in Zimbabwe
• Chappal Energies acquires Equinor's Nigeria business
• Strong interest in Angola’s onshore licensing round
• Disappointment for Shell with key well in Mauritania
• Nembe Crude Oil Export Terminal: Alternative solutions to underpin Nigeria's oil production stability
• BP rethinks Mauritania-Senegal LNG in blow to Kosmos
• BP exits Senegal's proposed Yakaar-Teranga FLNG project
• Trident energy gears up for drilling in Equatorial Guinea
• Namibia Government designates Kudu as a gas hub for oil projects
• Afreximbank finances deals with Nigerian energy companies
• The Edge: Access to capital the biggest obstacle for local players
• The first of its kind - CCUS Pilot announced for Agogo FPSO in Angola
• Angola launched 2023 Onshore Bid Round
• Webinar: Namibia deepwater: the world's hottest exploration play
• TotalEnergies sells down Angola stake to Petronas ahead of key FID
• Nigeria update: oil production rebounds in August
• Equinor readies to exit Nigeria
• Tortue phase one delayed into 2024
• TotalEnergies’ 2023 Strategy & Outlook - Namibia update
• Eni agrees to sell its Nigerian onshore subsidiary to partner Oando
• **on’s president is overthrown after contested election
• Cullinan dry hole breaks Shell’s run of Namibia discoveries
• Eni starts up Baleine in Cote d'Ivoire
• NNPCL secures US$3 billion loan to support Nigerian government policies
• Maurel & Prom to acquire Assala Energy in **on
• Niger coup d’état, what about the pipeline?
• NNPCL begins independent power station construction
• Nigeria update: oil production continued its recovery throughout June
• TotalEnergies begins development drilling in Uganda
• Angola and DRC progress in 20-year-old saga on Block 14
• NNPC Limited agrees to take equity in UTM Offshore’s FLNG project
• Afentra strengthens position in Angola with Azule Energy deal
• Shell makes fourth Namibian discovery in a row with Lesedi-1X
• Tullow Oil announces Jubilee South East start-up in Ghana
• Nigeria takes tough action on crude oil theft
• Plans for Mozambique’s Coral Norte FLNG submitted
• Nigeria update: May production recovers from a six-month low set in April
• Perenco acquires Eni Congo oil assets
• Kinetiko Energy Shows Promising Results in Exploration Wells
• Congo research trip takeaways
• TotalEnergies drills ahead in Namibia
• Tinubu's reform agenda: what's coming next for Nigeria
• Murphy Oil returns to Africa
• Nigeria's President Tinubu removes currency controls
• Chad's Savannah purge threatens pipeline harmony
• Nigeria's President Tinubu means business, as fuel subsidy disappears
• Tanzania LNG progresses after HGA and PSA agreement
• TotalEnergies & Africa Oil Corp withdraw from Tullow's Kenya project
• Sasol makes a gas discovery onshore Mozambique
• Galp confirms rig for drilling plans in Namibia’s Orange sub-basin
• NNPC Limited & Golar LNG sign Nigeria MoU
• ExxonMobil set to re-enter Liberia
• 4.4 mmtpa LNG project planned in Nigeria
• Aker Energy acquired by Africa Finance Corporation
• QatarEnergy joins Shell as partner offshore Mauritania
• Eni takes FID on Baleine phase 2
• Chad nationalises Savannah Energy's portfolio
• Equatorial Guinea and Cameroon sign Bilateral treaty for cross border cooperation
• Nigerian production up 3.6% in February
• Angola to launch new onshore licensing round
• Tanzania LNG inches forward
• Cameroon operator Victoria Oil & Gas in administration
• Eni selling its onshore Nigerian JV
• Azule Energy takes FID on Agogo full-development project
• Nigeria PIA conversion update
• Nigeria's marginal field participants revealed
• Perenco sanctions small LNG project in **on
• ICYMI: the biggest issues in global upstream revisited
• Many hurdles remain for Mozambique LNG
• Nigeria update: production remains fragile
• Somoil continues shopping spree with Galp's Angolan assets
• TotalEnergies to spend over 50% of its global exploration budget in Namibia
• FLNG taking centre stage as IOCs hurry to monetise gas
• Equinor seeks a buyer for Agbami-Ekoli in Nigeria
• Nigeria produced just 1.38 million b/d in 2022
• Gail Anderson, 12 January 2023
• CNOOC Ltd and Eni commit to frontier exploration in Mozambique
• TotalEnergies commits to another two decades in **on
• PTTEP exits Angola’s Block 17/06
• After deal closure, Chadian court may oppose Savannah acquisition of ExxonMobil’s assets
• South Sudan wins over Chad for Savannah Energy
• What NNPC Ltd's OML 86 & 88 acquisition means for its expansion plans
• In Chad one deal done, another one to go
• Nigeria's deepwater mini-bid round to be rushed through
• NNPC Ltd secures US$1.4 billion of project finance for Chevron JV assets
• Maurel & Prom acquires Wentworth Resources
• Perenco successfully tests new pre-salt play offshore Congo
• President Buhari launches oil & gas project in northern Nigeria
• Eni and CNOOC Ltd submit bids in Mozambique's sixth licensing round
• African Carbon Markets Initiative (ACMI) launched at COP27
• Coral FLNG ships its first cargo
• ExxonMobil reopens Kizomba treasure chest
• Nigeria's regulator plans to offer seven deepwater blocks in November
• Addax Petroleum finally leaving Nigeria
• In Congo, Wing Wah gets the boo t
• Seplat converting to Petroleum Industry Act fiscal terms
• Vaalco Energy marches on in **on
• Nigeria LNG declares Force Majeure
• Assala Energy on the market... soon?
• Drilling to restart on OML 120 in Nigeria
• Africa rails against Europe’s fossil fuel double standards
• Hot-tap discovery highlights the extent of Nigeria's crude theft epidemic
• Chevron gobbles up juicy Orange Basin acreage
• NNPC Limited acquires downstream player OVH Energy Marketing
• Tullow and Capricorn merger off
• Trouble down the pipe for TotalEnergies and CNOOC Ltd in Uganda?
• Equatorial Guinea: ExxonMobil's Zafiro & Jade fields shut-down as FPSO takes on water
• Chariot secures Total Eren as green hydrogen partner in Mauritania
• Nigeria's government takes over insolvent power distribution companies
• DNO set to acquire Cote d’Ivoire position
• Seplat still in the dark on status of MPNU deal
• Six Nigeria deepwater PSCs renewed for 20 years
• Niger Delta oil production woes deepen
• Deal or no deal? Nigeria’s regulator rebuts presidential consent of Seplat’s MPNU acquisition
• First oil through the Amukpe-Escravos pipeline in Nigeria
• The Democratic Republic of Congo launches bid rounds for 30 blocks
• Eni successfully appraises Baleine
• Perenco gets down to business in Chad
• Angola’s New Gas Consortium takes FID on country’s first non-associated gas project
• TotalEnergies announces production start-up from Ikike in Nigeria
• Angola finally wraps up 2020 onshore licensing round
• VAALCO to merge with Egypt-focussed TransGlobe Energy Corporation
• Glencore and Perenco close Chad deal
• Tanzania LNG breakthrough, but still a decade away at best
• Perenco to buy NewAge's stake in Etinde, Cameroon
• Nigeria facing an economic storm as presidential candidates decided
• A Major shift in the corporate landscape
• Another Major exits South Africa
• Tullow and Capricorn merge to form a leaner Africa energy player
• **on's production returning to normal after Cap Lopez shut-down
• And then there were two: Tullow Oil in the hunt for SPDC
• Nigerian government rejects ExxonMobil’s US$1.3 billion sale of JV business to Seplat
• Implications of oil leak at Perenco’s Cap Lopez terminal
• SPAs signed for Sonangol’s asset sales
• TotalEnergies announces plans to sell onshore Nigerian assets
• Seplat report further 9-12 month delay to ANOH project in Nigeria
• Sonangol's farm down process ignored by major players
• 2021: A year to forget for Shell and Eni in the Niger Delta
• Savannah Energy makes renewables entry with 250 MW wind farm in Niger
• Nigeria’s PIA: It was supposed to end uncertainty, but it hasn’t
• Angola resource boost for Eni at Ndungu
• Russia's upstream presence in Sub-Saharan Africa
• Could Fortuna favour the brave?
• Eni and bp seal the deal to establish Azule Energy
• Nigeria and Equatorial Guinea sign Memorandum of Understanding on gas supply
• Glencore might finally make it out of Chad, Perenco to take over
• Eni ties back another Angolan field in prolific Block 15/06
• Out of this world: TotalEnergies makes record-breaking Venus discovery in Namibia
• Eni revisits FLNG in Congo
• Fire on Emeraude platform, Congo
• The Gambia launches licensing round for Block A1
• Shell makes huge oil discovery offshore Namibia
• Trinity Spirit FPSO destroyed by explosion and fire
• Nigeria calls time on 2020 marginal fields bid round
• Nigeria’s new climate change legislation
• At long last — FID at Uganda’s Lake Albert oil development
• NNPC seeks to raise US$5 billion of finance: Shell JV in its sights?
• Nigerian liquids production fell 12% in 2021
• TotalEnergies and INPEX high-grade in Angola