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Zambia: ZESCO Signs Mou With Zaango Aspin For 600 MW Gas-Fired Power Project
Zambia’s state-owned power utility ZESCO Limited has signed a memorandum of understanding (MoU) with Zaango Aspin Limited for the development of a 600-megawatt (MW) gas-fired power plant.
The agreement was signed in Lusaka by ZESCO Acting Managing Director Fitzpatrick Kapepe and Zaango Aspin Group Chief Executive Officer Emilio Palu Matumbi.
Kapepe said the agreement would help ZESCO increase generation capacity and improve the reliability of electricity supply as demand grows.
“ZESCO will continue to work with independent power producers (IPPs) to accelerate investment in new generation projects to meet the country’s growing electricity demand,” he said.
Matumbi welcomed government efforts to attract private investment into Zambia’s energy sector and said Zaango Aspin was committed to supporting the country’s power industry.
“We thank the government for creating an environment that gives investors the confidence to come to Zambia and invest in the energy sector,” he said.
The agreement comes as Zambia seeks to expand electricity generation to support economic growth and reduce power supply constraints.
President Hakainde Hichilema’s second-term economic programme includes a target of increasing Zambia’s electricity generation capacity to 10,000 MW over the next five years.
ZESCO has been seeking greater participation from independent power producers as the country works to expand and diversify its power generation capacity.
Once developed, the 600 MW gas-fired project is expected to add to Zambia’s electricity supply and support demand from households, businesses and industry.
PETRONAS Awards Estuary PSC, Hands Over Seismic Data For Mutiara Cluster
Malaysia’s state oil company PETRONAS has awarded a production sharing contract for the Estuary Cluster and handed over enhanced 3D seismic data for the Mutiara Cluster as it seeks to accelerate development of marginal oil and gas resources.
Malaysia Petroleum Management (MPM), PETRONAS’ upstream business unit, awarded the Small Field Asset Production Sharing Contract (SFA PSC) for the Estuary Cluster to Harvester Energy (Malaysia) Sdn Bhd, a wholly owned subsidiary of Australia’s Harvester Energy Pty Ltd.
The Estuary Cluster comprises the Lerek, Korbu and Diwangsa fields in the Malay Basin, offshore Peninsular Malaysia.
The cluster will use a shallow-water subsea development concept aimed at reducing capital expenditure and accelerating production, PETRONAS said in a statement.
“The award of the Estuary Cluster PSC reflects PETRONAS’ continued focus on unlocking Malaysia’s discovered resources through innovative and fit-for-purpose development solutions,” said Bacho Pilong, senior vice president of MPM.
The award marks Harvester’s entry into Malaysia’s upstream sector, PETRONAS said.
The cluster was offered through Malaysia Bid Round Plus (MBR+), which provides year-round access to selected upstream opportunities, alongside the annual Malaysia Bid Round.
Separately, MPM has handed over an enhanced 3D seismic dataset to DIALOG Resources Sdn Bhd for the Mutiara Cluster, located off the east coast of Sabah in the Sandakan Basin.
The data is expected to help DIALOG assess the cluster’s resources and support development planning, PETRONAS said.
The Mutiara Cluster comprises five discovered marginal oil and gas fields: Nymphe, Nymphe North, Kuda Terbang, Benrinnes and Mutiara Hitam.
DIALOG was awarded an SFA PSC for the cluster during Malaysia Bid Round 2025, with first production targeted for 2029, PETRONAS said.
The company said efforts were also under way to optimise project costs and accelerate first gas, with DIALOG working with Sabah state agencies on development plans.
“The delivery of this enhanced dataset marks an important milestone for the Sandakan Basin,” Pilong said, adding that the improved seismic imaging would help DIALOG evaluate the cluster’s resources.
PETRONAS said the two initiatives were part of its efforts to widen investment opportunities and accelerate the development of discovered oil and gas resources in Malaysia.
Nigeria: NNPCL To Deploy Up To 70 Smart Fuel Stations
Nigeria’s state oil company NNPC Ltd. plans to roll out between 50 and 70 smart, self-service fuelling stations across the country within the next six months, its downstream executive said on Thursday.
The stations will offer a range of energy and retail services, including petrol, gas, electricity and electric vehicle (EV) charging, as NNPC seeks to modernise its retail network.
Mumuni Dagazau, NNPC’s executive vice president for downstream, spoke at the commissioning of the company’s first smart mega fuelling station in Abuja.
He said four or five similar stations were planned for Abuja, while two others would be inaugurated in Kano.
“We are hoping to roll out a significant number, between 50 and 70 of these types of stations within the next six months,” Dagazau said.
The Abuja facility has storage capacity for 180,000 litres of Premium Motor Spirit (PMS), commonly known as petrol, and 45,000 litres of Automotive Gas Oil (AGO), or diesel. It has 16 petrol pumps and two diesel dispensing pumps.
The station offers self-service fuel dispensing, EV charging, gas dispensing, an automated car wash and vehicle servicing.
Customers will be able to use NNPC Retail’s mobile application to access services and make payments, Dagazau said. The stations will also be accessible at night, allowing customers to dispense fuel themselves or charge EVs.
The facility is equipped with fast EV chargers that can fully charge a vehicle in 30 to 40 minutes, depending on the vehicle and battery level, he said.
The stations will also offer liquefied petroleum gas (LPG), compressed natural gas (CNG) and lubricant services, among other services.
NNPC plans to modernise some existing stations as part of the rollout, while new facilities will be built based on customer demand, Dagazau said.
He said the shift towards automation would not eliminate jobs, as staff would still be needed to assist customers, support EV charging and operate the new services.
“What we are doing is creating jobs. Somebody has to support the integration and automation, while personnel are also needed to support customers using the EV facilities,” he said.
Customers will need the NNPC Retail application to use the self-service facility, although staff will assist those unable to operate the application, Dagazau said.
The Abuja station is powered by solar energy, and NNPC is considering wider use of renewable energy across its retail network, he said.
Ghana: Planet One Targets October 2026 Spud For Nyanyanu-1X Well
Planet One Energy, operator of the Deepwater Cape Three Points (DWCTP) block offshore Ghana, plans to begin drilling the Nyanyanu-1X exploration well in October 2026, a company official said.
The London-based company is targeting October for the spudding of the well, which it described as an important milestone in its efforts to explore and develop Ghana’s petroleum resources.
“Planet One has done the work. We’ve matured the opportunity, we’ve secured the rig. Now we are ready to drill,” Doreen Addotei, a geologist at Planet One, said at the Africa Oil Week 2026 conference in Accra.
Planet One was selected in 2023 by GOIl Upstream Ltd. to operate the DWCTP block after U.S. oil major ExxonMobil relinquished its interest in the block in May 2021.
Planet One operates the block in partnership with Ghana National Petroleum Corporation (GNPC) and GOIL Upstream Petroleum.
Planet One holds a 75% participating interest in the block, while GNPC holds 15% and GOIL Upstream Petroleum holds the remaining 10%.
Ghana: BOSTLA Celebrates A Decade Of Excellence: A Landmark 10th Anniversary Milestone
The BOSTenergies Ladies Association (BOSTLA), the corporate women’s arm of BOST Energies Limited, has successfully concluded its landmark 10th Anniversary celebrations, marking ten years of advancing female empowerment, workplace advocacy, community impact, and corporate excellence.
Officially launched on August 10, 2026, and culminating in a grand Gala Night on September 5, 2026, the multi-event celebration was held under the theme, “A Decade of Excellence: Honouring the Foundation, Inspiring the Next Generation.”
Bringing together members, past and present, the milestone celebration served as a flagship gathering for gratitude, reflection, and a renewed commitment to the Association’s mission.
Interactive Panel Discussion
Deepening the intellectual engagement of the anniversary programme, a high-level panel discussion was held featuring the Patrons and Matrons of the Association. The session explored critical issues surrounding workplace equality, career sustainability, and strategies for mentoring and preparing the next generation.
Side Hustle Display
Empowering members beyond their corporate roles, a dedicated exhibition provided a platform for BOSTLA members to showcase and market their entrepreneurial ventures, artisanal products, and personal business projects.
Corporate Food Bazaar & Inter-Departmental Culinary Showdown
Organised in partnership with Nestlé Ghana, the festivities featured an engaging cooking competition designed to foster teamwork, healthy living, and camaraderie across BOSTenergies departments.
Supported by industry experts from Hausa Cuisine and celebrity judge Hon. James Gardiner, the competition showcased remarkable culinary talent while promoting staff unity and collaboration.
Thanksgiving & Anniversary Durbar
Honouring its journey, BOSTLA hosted a grand Thanksgiving and Anniversary Durbar Ceremony at the BOSTenergies Head Office.
The ceremony was graced by Ms. Shamima Muslim, Deputy Presidential Spokesperson, who delivered a powerful keynote address centred on workplace gender equity, policy frameworks that champion the cause of women, and the systemic advancements needed to ensure equal opportunities.
Ms. Linda Ampah attended as a Special Guest and delivered an inspiring message, encouraging members to embrace leadership and personal development.
Adding rich traditional colour and heritage to the occasion, the durbar featured Nii Kofi Otuadan III and the Ga Delegation, who delivered an uplifting cultural message amid vibrant traditional performances.
Demonstrating strong inter-corporate sisterhood and unity across the energy sector, solidarity messages were delivered at the durbar by sister associations, including PELA (Petroleum Commission), Power Queens (ECG), NAPET Ladies (NPA), and GAS Ladies (Ghana Gas).
Grand Black-Tie Gala Dinner
The anniversary celebrations culminated in a stunning Black-Tie Gala on September 5, 2026.
Beginning with red-carpet glamour and welcome cocktails, the evening featured instrumental music, a high-energy comedy interlude, a documentary screening titled “BOSTLA: Celebrating 10 Years of Impact,” and the Association’s legacy project drive.
A central moment of the Gala was the presentation of Citations of Honour, celebrating the vision and contributions of the pioneer founders, past executives, and current leaders who have steered the Association’s growth, including BOSTLA President Beatrice Amofa Boateng.
Throughout the closing ceremonies, the Executive Committee and entire membership of BOSTLA expressed their deep appreciation to the Managing Director, Mr. Afetsi Awoonor. Without the MD’s steadfast endorsement and commitment to workplace equity and organisational excellence, a celebration of this magnitude and impact would not have been possible.
In her keynote address, BOSTLA President Beatrice Amofa Boateng dedicated a major portion of her speech to acknowledging the Managing Director’s transformative support:
“This decade has proven what happens when corporate women unite with a shared purpose and enjoy strong backing from our Managing Director. His support has not only powered these anniversary events but has permanently elevated the stature of women across BOSTenergies. As we celebrate our foundation tonight, we stand on a solid launchpad to inspire and pave the path for the next generation,” remarked Boateng.
With ten years of impactful advocacy, professional development, workplace equity, and community impact now recorded in its history books, BOSTLA enters its second decade with renewed vigour, setting new benchmarks for female corporate leadership in Ghana.
Throughout the closing ceremonies, the Executive Committee and entire membership of BOSTLA expressed their deep appreciation to the Managing Director, Mr. Afetsi Awoonor. Without the MD’s steadfast endorsement and commitment to workplace equity and organisational excellence, a celebration of this magnitude and impact would not have been possible.
In her keynote address, BOSTLA President Beatrice Amofa Boateng dedicated a major portion of her speech to acknowledging the Managing Director’s transformative support:
“This decade has proven what happens when corporate women unite with a shared purpose and enjoy strong backing from our Managing Director. His support has not only powered these anniversary events but has permanently elevated the stature of women across BOSTenergies. As we celebrate our foundation tonight, we stand on a solid launchpad to inspire and pave the path for the next generation,” remarked Boateng.
With ten years of impactful advocacy, professional development, workplace equity, and community impact now recorded in its history books, BOSTLA enters its second decade with renewed vigour, setting new benchmarks for female corporate leadership in Ghana.
Senegal To Put 109 Oil And Gas Blocks On Market-Diouf
Senegal plans to offer 109 oil and gas blocks to local and foreign investors, Energy and Petroleum Minister El Hadji Abdourahmane Diouf said, according to Oilprice.com, citing Reuters.
Only four of Senegal’s 113 oil and gas blocks have so far been awarded under contracts, Diouf said.
“The remaining 109 will be put on the market,” the minister said, according to Reuters.
“The president’s plan is to create local leaders in the energy, oil and gas sectors,” Diouf added.
Several oil and gas discoveries offshore Senegal over the past decade have helped kick-start the country’s petroleum industry. Senegal launched its first oil project in 2024 and began LNG exports a year later from a gas project developed jointly with Mauritania.
The start-up of Senegal’s first oil project in 2024 helped drive economic growth to a record high.
Australia-based Woodside Energy achieved first oil from the Sangomar oil project in June 2024.
The Sangomar Field Development Phase 1 is a deepwater project that includes a floating production, storage and offloading (FPSO) facility with a nameplate capacity of 100,000 barrels per day (bpd), along with subsea infrastructure designed to support subsequent development phases, Woodside said.
“First oil from the Sangomar field marks a new era not only for our country’s industry and economy, but most importantly for our people,” Thierno Ly, general manager of Senegal’s national oil company Petrosen, said at the time.
In 2025, BP, the operator of the Greater Tortue Ahmeyim (GTA) project offshore Mauritania and Senegal, loaded its first LNG cargo for export.
Phase 1 of GTA is expected to produce about 2.3 million metric tons of LNG per year, with the project expected to produce LNG for more than 20 years, BP said.
Kenya Plans To Nearly Triple Power Generation Capacity In Seven Years
Kenya plans to increase electricity generation capacity to 10,000 megawatts from about 3,500 MW over the next seven years, President William Ruto said, according to The Star.
Ruto said the planned expansion would create opportunities for investors in geothermal energy, power transmission, battery storage, industrial power, green hydrogen and electric mobility.
“In the energy sector, we are expanding national generation capacity towards 10,000 MW over the next seven years,” he said.
Speaking at the American Chamber of Commerce Business Summit, Ruto said the government could not deliver Kenya’s economic transformation alone and urged the private sector to provide capital, technology and expertise to complement public investment.
“Government cannot deliver economic transformation alone. Our responsibility is to provide infrastructure, uphold predictable rules and create an enabling environment,” he said.
“The private sector turns those foundations into factories, technologies, exports and jobs.”
Ruto said partnerships with businesses were central to Kenya’s development agenda and not merely an optional component of economic transformation.
“That is why our partnership with business is not incidental to Kenya’s transformation; it is indispensable,” he said.
He urged U.S. and other international companies to view Kenya as more than a domestic market, citing its strategic position within regional and continental trade arrangements.
“Do not look at Kenya simply as a market. Look at Kenya as your platform to a continent of 1.4 billion people,” Ruto said.
“Produce here. Innovate here. Build your regional headquarters here and serve Africa from here.”
Ruto said Kenya had already attracted major investments from U.S. companies, with American firms committing more than $600 million to new projects since the previous AmCham summit.
He cited Oracle’s selection of Kenya for its first public cloud region in Africa, Coca-Cola’s $175 million investment and Mars Wrigley’s $103 million production line launched at Athi River.
Ruto also said SC Johnson was establishing a new manufacturing plant to serve Kenya and other African markets.
He welcomed interest from Ford in exploring investment opportunities in Kenya, linking the potential investment to his administration’s efforts to create jobs and increase local value addition.
Ghana: Petroleum Commission, Kosmos Sign Engineer Secondment Agreement
Ghana’s upstream petroleum regulator, the Petroleum Commission, and Kosmos Energy Ghana on Thursday signed an agreement to facilitate the secondment of some commission engineers to Kosmos Energy’s facility in Houston, Texas.
The initiative is part of the commission’s efforts to build a skilled and technically competent workforce capable of regulating and supporting Ghana’s upstream petroleum industry, the commission said in a post on Facebook.
The engineers will gain practical experience in international industry practices and specialised technical operations during the secondment, which the commission said would help strengthen its institutional capacity.
The chief executive of the Petroleum Commission Victoria Emeafa Hardcastle and Senior Vice President and Head of Ghana Business at Kosmos Energy Joe Mensah said at the signing that the partnership would help build technical capacity and advance Ghana’s petroleum industry.
The commission described the programme as an investment in Ghana’s technical capacity and the future of its upstream petroleum sector.
The commission also commended Kosmos Energy Ghana for supporting the initiative.
Ghana Signs MoUs With Eni, Vitol For Two Offshore Oil Blocks
Ghana on Thursday signed two memoranda of understanding (MoUs) with Eni Ghana, Vitol Upstream Tano Ltd and the Ghana National Petroleum Corporation (GNPC) covering offshore acreages GH WB 3 and GH WB 8 in the Tano Basin, the energy ministry said in a statement.
The MoUs were signed on behalf of the government by Energy and Green Transition Minister John Abdulai Jinapor.
Representatives of Eni Ghana, Vitol Upstream Tano Ltd and GNPC also signed the agreements on behalf of their respective institutions.
The agreements are part of efforts to unlock Ghana’s remaining hydrocarbon potential and attract fresh investment into the upstream sector, the ministry said.
The two blocks cover about 2,100 square kilometres, with water depths ranging from 750 metres to 2,800 metres.
The MoUs build on a memorandum of intent signed in 2025 that proposed an investment of $1.5 billion, the ministry said.
The government said the latest development forms part of reforms being pursued under President John Dramani Mahama to create a more competitive, predictable and investment-friendly petroleum sector while ensuring the responsible development of the country’s natural resources.
The proximity of the two acreages to existing producing fields and petroleum infrastructure is expected to allow investors to leverage Ghana’s established upstream ecosystem as exploration progresses, the ministry said.
The government will continue to pursue reforms aimed at attracting investment and accelerating exploration and production while ensuring Ghana secures maximum and sustainable value from its hydrocarbon resources, it said.
Malawi Plunged Into Nationwide Blackout After Power System Shutdown
Malawi was hit by a nationwide power blackout on Wednesday evening after the country’s electricity utility reported a system shutdown, disrupting electricity supplies across the country.
The Electricity Supply Corporation of Malawi (ESCOM) said the shutdown occurred at 10:45 p.m. on Wednesday, Sept. 9, and that its technical teams were working to establish the cause.
“We have experienced a system shutdown,” ESCOM said in a notice to customers, adding that it would inform the nation once the facts had been established.
The utility did not immediately give a timeframe for restoration of electricity or specify what had triggered the shutdown.
ESCOM is responsible for procuring, transmitting and distributing electricity in Malawi.
The blackout comes as Malawi’s electricity system faces continuing pressure from supply constraints and infrastructure challenges.
ESCOM has previously implemented scheduled load-shedding programmes to manage shortages in electricity supply.
The disruption threatens to affect households, businesses and public services reliant on the national grid, although the extent of the impact was not immediately clear.
ESCOM urged customers to await further information while its technical teams investigated the incident.
Trump Says Oil Prices May Fall After U.S. Midterm Elections
U.S. President Donald Trump told Americans on Wednesday that oil prices, which have surged because of the war with Iran, would not come down until after the U.S. midterm elections.
Oil prices jumped more than 3% on Wednesday, pushing international benchmark Brent crude above $100 a barrel for the first time since July as exchanges of fire between the United States and Iran escalated.
“Right after the election, oil prices are going to be tumbling downward,” Trump said, according to the Associated Press.
“I think it’s going to take a little bit longer than the midterm,” he added.
Speaking to reporters before traveling to Dallas for the Republican midterm convention, Trump said he believed Iran would finally relent after the pivotal U.S. elections.
“They’re desperate to try and affect the election, so that we can get a nice weak group of people in there and leave them alone and let them have their nuclear weapon,” Trump said.
“I think the war’s going to end immediately after the election because they can’t hold out any longer,” he added.
Trump initially said at the outset of the war that it would last only a matter of weeks. The conflict is now in its seventh month.
The U.S.-Israeli war with Iran has sharply reduced the volume of Gulf oil moving through the Strait of Hormuz, through which about 20% of the world’s petroleum passed before the conflict.
Trump’s comments were a striking acknowledgment of the conflict’s duration as his administration faces mounting pressure to address high gasoline prices while the war drags on with no end in sight.
Trump last week dismissed the conflict as “small potatoes”, even as Republicans expressed concern that the war could weigh heavily on voters facing higher gasoline prices and inflation.
The United States has tapped its Strategic Petroleum Reserve, which fell below 300 million barrels in early August, down more than 100 million barrels since the start of 2026.
Trump’s prediction that the war would not end until after Nov. 3 came after Vice President JD Vance last week declined to predict that the conflict would be over by the midterm elections, in which Republicans are seeking to retain their narrow majorities in Congress.
Vance told reporters he did not want to set “artificial timelines” for the war’s end.
“But when you ask, ‘When will this end?’ You’re asking me a question like, ‘When will the Iranians stop shooting at ships?’” Vance said. “I think the reality is, I don’t know the answer to that question. You would have to ask the Iranians.”
U.S. benchmark crude was trading at around $96 a barrel on Wednesday, while U.S. gasoline prices rose sharply overnight.
The average price for a gallon of regular gasoline rose 7 cents overnight to $4.22, more than $1 above its level at the same time last year, according to AAA.
Diesel prices, which can have an outsized impact on consumers because the fuel is widely used in shipping and production, hit a record high on Friday and have continued to rise. The average price per gallon climbed to $5.94 overnight, up 9 cents from Friday.
Jet fuel has also become so expensive that U.S. and international airlines have cut flights while raising fares and fees.
The latest market gyrations came after the U.S. military said it had struck five Iranian tankers in response to attempted missile attacks on a U.S. Navy warship, while attacks by the Iranian-backed Houthi rebel group set fire to oil facilities in Saudi Arabia.
Angola Oil Sector Investment Reaches $99 Billion Over Nine Years
Investment in Angola’s oil sector over the past nine years has amounted to approximately $99 billion, Minister of State for Economic Coordination José de Lima Massano said on Wednesday in Luanda, according to state news agency ANGOP.
Speaking at the opening of the 7th Angola Oil & Gas (AOG 2026) International Conference and Exhibition, Massano said 38 exploration wells had been drilled during the period, resulting in 16 discoveries.
He also said 72 new concessions had been negotiated, of which 44 had been signed, while the remaining 28 were awaiting approval.
Massano said Angola remained committed to developing its oil and gas sector in a responsible, competitive and sustainable manner.
He called for greater domestic value to be created from the country’s natural resources to boost economic activity, employment and skills development.
Massano outlined reforms and initiatives aimed at creating better conditions for the development of the oil and gas industry.
He also acknowledged the challenges posed by climate change and the need for a just energy transition, pointing to a gradual, balanced and inclusive approach that reconciles decarbonisation objectives with Angola’s economic and social development.
“We will continue to produce hydrocarbons, but we will do so in an increasingly responsible, efficient and sustainable manner, through the use of efficient technologies and the consolidation of a diversified energy mix, combining hydrocarbons and natural gas with hydroelectric, solar, wind and biomass energy,” he said.
Massano highlighted the continued expansion of exploration through the discovery of new resources, reserve replenishment and measures to sustain production over the long term.
On gas production, he said reforms had delivered significant progress, with the sector becoming increasingly important as Angola focuses on exploring non-associated gas fields and developing large-scale projects.
He encouraged greater investment in local content to enable more Angolan companies to supply goods and services to the oil industry and increase the participation of qualified Angolan professionals across the value chain.
Massano reaffirmed the government’s commitment to contractual stability, legal certainty, predictability and a competitive business environment.
Addressing investors, he called for investment across Angola’s oil and gas value chain, as well as in other sectors of the economy with growth potential.
The two-day conference, held under the theme “Investing in Angola’s Future”, brings together specialists and companies to discuss oil and gas exploration and production, energy transition and sustainability.
African Banks Urged To Mobilise Funds For Energy Sector
African banks have been challenged to mobilise resources to support the continent’s energy sector.
Secretary-General of the African Petroleum Producers’ Organisation (APPO) Farid Ghezali issued the call on Wednesday via videoconference during the 7th Angola Oil & Gas International Conference and Exhibition (AOG 2026).
Ghezali said many viable African energy projects continue to face difficulties due to a lack of financial support.
He said Africa must strengthen its financial capacity, with banks playing a central role.
He also called for the continent’s energy potential to be turned into economic value through investment in infrastructure, refining and gas development, as well as stronger local industries capable of creating value chains, jobs and public revenue.
“The success of our energy sector cannot be measured solely by the number of barrels produced or exported. It must also be measured by the electricity generated, the jobs created and the value returned to our economies,” Ghezali said, according to Angola’s state news agency ANGOP.
He described AOG 2026 as a commitment to creating greater and more lasting value from the continent’s energy resources, reflecting Africa’s ambition to make energy a driver of industrial development and shared prosperity.
Ghezali said Angola’s vision for the sector was aligned with the broader continental ambition, based on the principle that natural resources should support not only production and exports, but also industry, technology, entrepreneurship and regional integration.
The two-day AOG 2026 brings together specialists and companies from the oil and gas sector to discuss issues including exploration and production, energy transition and sustainability.
ExxonMobil And ANPG Record Their 20th Discovery In Angola’s Block 15.
Angola’s National Oil, Gas and Biofuels Agency (ANPG), ExxonMobil and its Block 15 partners on Wednesday confirmed a new oil discovery at the Vicango Este-01 well, marking the deepwater block’s 20th discovery since production began, according to Oilprice.com, citing CNBC.
The well, located about 370 km (230 miles) northwest of Luanda, was drilled to a depth of 940 metres (3,084 feet) and encountered 25 metres of high-quality, hydrocarbon-bearing sandstone.
Block 15 has produced more than 2.7 billion barrels of oil over 30 years.
ExxonMobil Angola Chief Executive Brian Unietis described Block 15 as “one of Angola’s most significant deepwater developments” and said the new discoveries would increase the value of existing infrastructure, according to a joint statement.
The discovery comes three weeks after Chevron reported a find at its 105-4X well in neighbouring Block 0, where the company encountered more than 2,000 feet of hydrocarbons and 300 feet of net pay in the Pinda reservoir of the Lower Congo Basin.
Chevron is considering tying the discovery into existing Block 0 facilities rather than developing a standalone project.
The company has also made three near-field discoveries in Nigeria since late 2024 and plans to drill the Nabba-1X well in Namibia before the end of the year.
Angola’s state oil producer Sonangol, which holds stakes in several of the country’s offshore blocks, has faced financial pressures.
In June, it borrowed $2.65 billion from a bank syndicate to cover operating costs, in addition to a $1.75 billion facility from Afreximbank and a $750 million bond issued earlier this year.
Sonangol is seeking an additional $4.8 billion to finance its Lobito refinery and has scheduled a partial stock listing for 2027.
Angola is the second-largest crude oil producer in sub-Saharan Africa after Nigeria. Its oil output has stabilised at around 1.1 million barrels per day, down from a peak of more than 2 million bpd in 2008.
New fiscal terms and exploration incentives introduced by Luanda are encouraging renewed drilling in both mature and untested acreage, with the Vicango Este-01 discovery among the latest results.