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bp has signed a Memorandum of Understanding to evaluate opportunities for a five-well programme at water depth ranging from 300 to 1,500 meters in the Mediterranean Sea 

This will help plan the development of national gas reserves to optimise existing production facilities in the West Nile Delta. As the company aims to begin drilling operations in 2026, there are plans to explore the possibility of tie-back options after considering resource potential. 

The MoU was signed during the visit of Karim Badawi, Minister of Petroleum and Mineral Resources; Ashraf Swelam, Egypt’s Ambassador to the UK, and Samir Raslan, Undersecretary for Exploration and Agreements at the Ministry of Petroleum and Mineral Resources, to bp’s headquarters in London.

The delegation met with Murray Auchincloss, bp’s chief executive officer; William Lin, executive vice president for gas and low carbon energy; Nader Zaki, regional president, Middle East and North Africa; and Wail Shaheen, president of bp Egypt.

“Today’s announcement reaffirms our commitment to supporting investment in Egypt’s gas sector.  We appreciate the continued engagement and support from HE Minister Karim Badawi.  We look forward to applying bp’s technological expertise to build on our recent exploration and development momentum to bring on new gas resources and accelerated production for the country as well as deliver value for our business,” said Lin.

Zaki added,“We are proud of our longstanding partnership with the Egyptian government. This memorandum represents a strategic step in our investments in Egypt’s energy sector during this decade, enabling us to develop additional gas resources in the West Nile Delta and bring them onstream as quickly as possible to meet the needs of the local market.”

The agreement comes as bp plans to increase production to 2.3-2.5 million barrels of oil equivalent a day in 2030 with the capacity to increase production out to 2035. It follows a successful exploration campaign in the first half of 2025 in which bp has made 10 discoveries including two in Egypt, where it completed drilling activity at the Fayoum-5 gas discovery well and El King-2 exploration well, both part of the West Nile Delta development.

Pancontinental Energy has released revised estimates of prospective resources for the company's PEL 87 project, Orange Basin offshore Namibia

Pancontinental chief executive officer, Iain Smith, said, "The Pancontinental technical team continues to deliver, such that we are now able to pinpoint a single well location at the Oryx prospect that offers oil potential at three discrete intervals for a combined 2.5 billion barrels of High Case prospective resource, with a Geological Chance of Success upgraded to 26.2%."

The Oryx prospect now incorporates the prospective features previously identified as the Calypso and Addax Channel leads, due to the fact that it has been determined that all three targets may be effectively tested by a single exploration well. As a result the High Case (3U) prospective resource estimate (gross, 100%) for Oryx now stands at over 2.5bn barrels of oil, recoverable.

Of note is that, in general terms, it is the Best Case (2U) prospective resource estimates which have most benefited from the revised inputs, in particular for Oryx and Hyrax (due to their relative maturity, as prospects). The Low Case (1U) and High Case (3U) for each prospect/lead is affected to a lesser degree and the prospective resource estimates for the Addax Fan and Addax South leads remain unchanged, as does the GCoS. The GCoS for the remainder of the prospect/lead inventory has increased, based upon seismic synthetic modelling which provides positive indications for a hydrocarbon fluid effect (interpreted as a low gas-oil-ratio oil). As such the estimated GCoS for the main Oryx prospect now stands at 26.2% (previous estimate 22.5%).

QI screening is currently on, generating a mapping of an additional prospective feature, external to the Saturn Complex. The Phoebe West lead is interpreted as an Albian-to-Aptian basinal turbidite fan feature fed by a long-lived northern channel clastic bypass depositional system. Interpretation of this feature is ongoing at this time and Pancontinental anticipates providing further detail soon.

MODEC has executed a co-operation agreement with infrastructure solutions provider, Africa Finance Corporation, to collaborate on floating production, storage, and offloading (FPSO) units projects as well as other maritime infrastructure projects in Africa

MODEC has extensive African experience, having delivered 11 FPSOs/FSOs, MOPU and TLPs in West Africa in the past. Currently MODEC is providing charter service for FPSO. 

AFC is a multilateral financial institution, established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. With 45 member countries and having invested over US$15bn across the continent, AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa’s infrastructure development needs.

This CA is a framework aiming at future cooperation and information exchange in technical studies, market studies, structuring of finance solutions and sourcing of potential projects for future maritime infrastructure space in Africa.

MODEC group president and CEO, Hirohiko Miyata, said, “We are honoured and excited to execute the CA with AFC. Africa is a core market for us with infinite potential for offshore development. MODEC is committed to supporting the development of African countries through our offshore solutions.”

This agreement, signed during AFC’s visit to Japan for the 9th Tokyo International Conference on African Development, marks a significant step for both companies as they work together to contribute to the sustainable development of maritime infrastructure and economic growth in Africa, thereby supporting the advancement of local communities.

The Agogo FPSO has generated first oil for the National Agency for Petroleum, Gas and Biofuels (ANPG) and Azule Energy, actualising the much anticipated Agogo Integrated West Hub project offshore Angola 

This comes in less than three years since the Agogo IWH project began in February 2023, with a phased development approach. It involved appraising-driven process, de-risking the full field exploitation. With a well-coordinated effort to simultaneously manage activities across reservoir, engineering and procurement, the deepwater project is said to have been achieved in record time. 

The Agogo project involves the development of two fields, Agogo and Ndungu, in the West Hub of Block 15/06. The Agogo IWH project operated by Azule Energy in Block 15/06, with a 36.84% stake alongside partners Sonangol E&P (36.84%) and Sinopec International (26.32%), is set to add substantial production to Angola's energy landscape. Together, the two fields have estimated reserves of approximately 450 million barrels, with projected peak production of 175,000 barrels per day, produced via two FPSOs (Agogo and Ngoma). 

An ode to technological innovation and lower-emissions future, all topsides and marine systems of the Agogo FPSO are designed to be fully electric. Touted as a 'green' FPSO, it features a pilot carbon capture and utilisation/storage (CCUS) unit to recover remaining CO2 volumes. Additionally, the FPSO benefits from combined cycle power generation.

"This new milestone that we have recorded in the Agogo Project reinforces our certainty that we have made the right investment in technological innovation and the valourisation of Angola's natural resources, in an industry where it is essential to combine sustainability, efficiency and inclusion procedures. It is worth highlighting that this is an FPSO prepared to reduce carbon emissions, aligning with energy transition objectives. Furthermore, it demonstrates a strong investment in national human capital, with 80% of the workforce comprised of Angolans,' said the chairman of the Board of Directors of ANPG, Paulino Jerónimo.

"The startup of the Agogo IWH project, sanctioned just months after Azule Energy's formation, represents a defining moment for our company," said Adriano Mongini, CEO of Azule Energy. "It demonstrates not only our technical capabilities but also our firm commitment to supporting Angola's energy landscape. This achievement advances our production goals whilst showcasing our dedication to responsible energy practices through pioneering emission reduction initiatives. We are immensely proud to contribute to Angola's energy future and to set new standards for environmental responsibility in offshore operations."

Major refining projects  are set to transform Africa’s energy landscape and boost self-suffciency

Africa is set to add 1.2mn barrels per day (bpd) of new refining capacity by 2030, representing one of the fastest downstream expansions globally, according to the newly released 2025 OPEC World Oil Outlook.

At the forefront of Africa’s refining expansion is Nigeria’s 650,000-bpd Dangote Refinery, which began operations in 2024 and is already reshaping regional fuel trade dynamics. Further developments include the 200,000-bpd Akwa Ibom Refinery, also in Nigeria, and Angola’s state-driven push to bring online the 200,000-bpd Lobito Refinery and 100,000-bpd Soyo Refinery by 2030.

Uganda’s refining ambitions are taking shape with a 60,000-bpd facility in Hoima, part of the country’s broader Lake Albert basin development plan, while modular refinery projects in Ghana, Guinea-Conakry, the Republic of Congo and additional sites in Nigeria are buiding capacity in markets where infrastructure and financing hurdles persist. In North Africa, Algeria (Hassi Messaoud), Libya (Ubari) and Egypt (Soukhna) are all advancing refinery projects aimed at capturing higher margins, improving domestic supply security and reducing dependency on imports of refined petroleum products.

According to OPEC, Africa will need over US$40bn in refining investments by 2030 to meet its mid-decade objectives, and beyond that, an additional US$60+ billion for refinery construction, modernisation and secondary processing capacity upgrades. This opens a US$100 billion investment opportunity for project developers, institutional investors, sovereign wealth funds and energy-focused private equity.

Africa’s rising domestic consumption of crude – forecast to reach 4.5 million bpd by 2050 from just 1.8 million bpd in 2024 – further underlines the need for investing in downstream infrastructure.
If the continent seizes this momentum, it can move beyond being a raw crude exporter to becoming a competitive, resilient and integrated energy producer.

The 2025 edition of African Energy Week (AEW): Invest in African Energies in Cape Town will provide a platform for governments, operators and financiers to align on next-phase refinery projects, policy incentives and deal pipelines, as countries seek to reduce costly imports and capture more value from domestic crude,

Ovation Data, a global leader in data management and digital transformation, has announced its expansion into Africa, joining forces with the ETK Group

The partnership aims to tackle mounting concerns in global energy markets about the risks tied to non-digitised legacy data, particularly in African energy sectors.

The company’s latest industry survey, presented at IMAGE 2025 in Houston, highlights widespread concern about the preservation of legacy geological and geophysical data. The survey, which included significant input from African operators, regulators, and technical professionals, reveals a substantial gap in data readiness across the energy sector. In particular, it points to the growing challenge of non-digitised data in countries rich in exploration potential, like many across Africa.

“Effective data management means more than digitising archives,” said Gregory Servos, executive chairman of Ovation Data. “It involves collaborating closely with operators, regulators, and technical teams to recover historical data, capture its context, and respect the social and cultural dynamics unique to each market.” As energy projects focused on Carbon Capture and Storage (CCS), Liquefied Natural Gas (LNG), and the broader energy transition gain momentum, Ovation believes that securing data readiness will be critical for supporting operational efficiency and securing investments.

The survey’s results paint a concerning picture: 82% of respondents expressed fears about the permanent loss of legacy geological and geophysical data, while 50% highlighted project delays and incomplete data as serious concerns. Additionally, 61% of respondents feel that digitisation and data structuring aren’t receiving adequate investment or attention, and 12% remain unaware of the risks associated with holding non-digitised data.

The study also underscores a significant concern about losing undocumented knowledge as senior professionals retire or move on. “In Africa, this challenge extends beyond data trapped in obsolete formats,” Servos adds. “It’s also about preserving decades of technical insight, decision-making, and cultural context that will otherwise be lost when experienced professionals retire.”

ETK Group, with its deep understanding of African energy markets, will play a pivotal role in helping Ovation navigate the continent’s diverse and evolving landscape. Bolaji Sofoluwe MBE, managing director of ETK Group, said, “Africa’s energy sector offers immense potential, and data-driven solutions will be key to unlocking efficiency, regulatory compliance, and long-term sustainability.”

The findings of Ovation's survey serve as a wake-up call not only for Africa but for the global energy sector. As projects ranging from carbon storage to LNG development and renewable energy integration become more data-intensive, it’s evident that decades of seismic and well data must be preserved, accessible, and trusted.

Trudy Curtis, CEO of the PPDM Association, emphasises the importance of long-term stewardship in maintaining the value of energy data. “Without deliberate, intentional and sustained stewardship, these valuable assets are at risk of being lost, degraded, or rendered unusable,” she states.