Driving Energy Development - African Energy Week (aew) 2025 To Explore The Role Of International Oil Companies (iocs) In Africa

International oil companies are at the forefront of Africa's energy transformation, driving growth through strategic investments and new discoveries

CAPE TOWN, South Africa, March 3, 2025/APO Group/ --

International oil companies (IOCs) active across Africa’s energy sector are delivering on a promise to support economic growth, job creation, capacity building and knowledge sharing. Within the past month alone, energy major bp and its partner Harbour Energy started production at the second phase of the Raven development, offshore Egypt, while Italian supermajor Eni contracted Chinese engineering firm Hilong Offshore Engineering to deliver transportation and installation works for two wellhead platforms at the Congo LNG project.

Through investments in exploration, production and infrastructure, IOCs assist in maximizing the full potential of Africa’s vast oil and gas resources while fostering capacity-building programs and local partnerships. This year’s African Energy Week (AEW): Invest in African Energies 2025, taking place on September 29-October 3, will bring together industry leaders, policymakers and investors to explore new opportunities in oil and gas, deepening exiting partnerships and facilitating deals that strengthen the role of IOCs in Africa’s energy sector.

AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.

A New Era in Exploration and Production

Amidst the backdrop of a new era in exploration and production in Africa, exploration company Impact Oil & Gas recently announced the successful completion of drilling at the Tamboti-1X exploration well in Block 2913B, offshore Namibia while independent company Custos Energy announced the completion of supermajor Chevron’s farm-in to PEL 82. On the heels of an IOC-led exploration blitz in Namibia, which resulted in a string of major discoveries, the country has become a hotspot for hydrocarbon investment, with first production set for 2029.

Exploration company Pancontinental Energy recently announced its focus on two hydrocarbon leads – Oryx and Hyrax – within the Saturn Complex of PEL 87 in Namibia’s Orange Basin. Meanwhile, exploration firm ReconAfrica has found oil indications at its Naingopo exploration well, located onshore Namibia within the Damara Fold Belt. Other recent developments include energy corporation Galp’s discovery at the Mopane-2A well, independent equity producer Azule Energy’s farm-in agreement for offshore Block 2914A and QatarEnergy’s acquisition of a 27.5% working interest in Block 2813B.

Azule Energy – a joint venture (JV) between Eni and bp – also plays an important role in growing Angola’s hydrocarbons industry. In February this year, the IOC completed the Quiluma and Maboqueiro offshore platforms, contributing to the development of Angola’s first non-associated gas project. To support decarbonization in Angola, Azule Energy awarded a two-year contract last September to software company Opsealog to enhance environmental performance across its offshore supply vessel fleet in the country.

Advancing Collaboration with NOCs

Collaboration between IOCs and national oil companies (NOCs) fosters economic growth by creating jobs, developing infrastructure and generating revenue through oil and gas projects. A JV between Chevron and the Nigerian National Petroleum Corporation resulted in the discovery of oil in the Niger Delta in October last year. In May last year, energy major TotalEnergies, along with its Block 20/11 partners Petronas and Sonangol announced FID at the Kaminho deepwater project in Angola.

TotalEnergies and China National Offshore Oil Corporation are working with the Ugandan and Tanzanian NOCs to develop the 1,443-km East African Crude Oil Pipeline – due to come online in 2026. Meanwhile, collaboration among Mauritania’s NOC SMH, Senegal’s NOC Petrosen, bp and Kosmos Energy led to the start of LNG production at the Greater Tortue Ahmeyim project in early-2025. Petrosen also developed the Sangomar Oilfield alongside Woodside Energy, achieving first production in 2024. Such partnerships continue to drive projects forward in Africa, highlighting the role IOCs play in Africa’s oil and gas industry.

"International oil companies are at the forefront of Africa's energy transformation, driving growth through strategic investments and new discoveries. These companies are not only delivering on their promise to support economic development, job creation and knowledge sharing, but also unlocking the vast potential of Africa's resources. With events like African Energy Week 2025 serving as a pivotal platform for deal-making and partnership building, the continent is entering a new era of exploration and production,” says Sergio Pugliese, Executive President for the African Energy Chamber in Angola.