- Several African countries are gearing up for new upstream oil and gas investments through upcoming licensing rounds between 2024 and 2025.
- African Energy Week 2024 in Cape Town, scheduled for November, will feature an exclusive Upstream Exploration & Production Forum.
The African energy sector is preparing for a new wave of upstream oil and gas investment. Several markets are announcing licensing rounds and strategic policy initiatives to boost investment in on- and offshore exploration and production.
Scheduled for November 4-8 in Cape Town, African Energy Week Invest in African Energy 2024 will be pivotal in stimulating further investment in the continent’s upstream sector. This premier event will host an exclusive Upstream Exploration & Production (E&P) Forum over two days, bringing together key stakeholders, including government officials, operators, service providers, and industry regulators. The forum will feature strategic sessions and presentations highlighting significant developments and investment opportunities across Africa’s upstream sector.
African Energy Week has emerged as the platform of choice for project operators, financiers, technology providers, and government officials, solidifying its position as Africa’s official hub for energy deals. For more information on this event, visit www.aecweek.com.
Several African countries are set to launch significant bid rounds between 2024 and 2025, offering access to both frontier and mature licensing opportunities for upstream investors. Nigeria leads with its 2024 Deepwater Bid Round, which includes 19 blocks up for grabs. Meanwhile, Zanzibar is set to launch its inaugural tender, offering eight offshore blocks, and Namibia has introduced a new open-door system for E&P licenses.
The Democratic Republic of the Congo continues its 2022 bid round with 24 onshore blocks, while Tanzania’s fifth licensing round features 26 blocks. Uganda’s third licensing round targets the Albertine Graben basin, Somalia’s 2024 licensing round offers 26 offshore blocks, and Kenya’s first licensing round includes 45 blocks. Angola is also planning a 2025 limited public tender with ten offshore blocks.
Egypt is gearing up for multiple bid rounds in North Africa in 2024, while Libya plans to offer 40 blocks by early 2025. Algeria aims to boost exploration by providing 10-12 onshore blocks in the fourth quarter of 2024.
These initiatives underscore Africa’s commitment to unlocking its vast energy potential and attracting global investments to drive economic growth and development. The diverse range of opportunities presented across the continent’s energy landscape promises to cater to the interests and capabilities of a broad spectrum of industry participants, from established operators to emerging players seeking entry into Africa’s dynamic energy market.
With a pipeline of licensing rounds and strategic initiatives, Africa’s upstream sector is poised for substantial growth, positioning itself as a critical player in the global energy landscape in the years to come.