Nigeria, Ivory Coast, and Mozambique are anticipated to host 10 new offshore drilling initiatives between 2026 and 2027, marking a significant push in Africa’s deepwater oil and fuel growth.
The disclosure was made by Transocean and Valaris, two of the world’s main offshore drilling contractors, and was reported by Upstream On-line, a global vitality business web site that gives information and evaluation of the main oil and fuel initiatives shaping the business globally.
Each corporations famous that offshore Africa has turn into probably the most lively area for future floater alternatives, with growing curiosity from worldwide oil corporations in long-term initiatives throughout West, South, and East Africa.
“Offshore Africa stays probably the most lively space for future floater alternatives. We’re at the moment monitoring roughly 10 long-term packages with anticipated begin dates in 2026 or 2027, together with initiatives offshore Nigeria, Ivory Coast, and Mozambique,” Matt Lyne, Senior Chief Industrial Officer at Valaris, was quoted as saying within the Upstream On-line report.
The surge in deliberate deepwater drilling displays renewed world confidence in Africa’s offshore basins. Regardless of the technical and monetary complexities of deepwater initiatives, rising vitality demand and improved challenge economics are drawing new funding into the area.
Nigeria, Africa’s largest oil producer, is seeing a revival of offshore curiosity. Ivory Coast is rising as a promising participant following current discoveries, whereas Mozambique continues to draw consideration with its substantial offshore fuel reserves.
The anticipated ramp-up in drilling might create main financial ripple results from overseas direct funding to job creation and native capability constructing.
Because the business shifts its gaze towards deeper waters, Africa, led by Nigeria, Ivory Coast, and Mozambique, is positioning itself as a central hub within the subsequent chapter of world offshore vitality growth.
What it’s best to know
A current Nairametrics report highlighted that the Shell Nigeria Exploration and Manufacturing Firm Ltd. (SNEPCo) stays assured in Nigeria’s means to fulfill its manufacturing goal of over 2.4 million barrels per day, with deepwater drilling enjoying a key position.
- Ronald Adams, Managing Director of SNEPCo, famous that Nigeria’s deepwater reserves are among the many most promising globally, not only for oil, but in addition for fuel fields that help cleaner vitality options, energy home wants, and assist cut back world emissions.
- With onshore and shallow water manufacturing in decline and challenged by pipeline vandalism and crude oil theft, many worldwide oil corporations (IOCs), together with Shell, Chevron, and TotalEnergies, are shifting funding offshore, the place operations are safer and scalable.
- In 2023, Nigeria’s Bonga area, operated by SNEPCo, reached a historic milestone by exporting one billion barrels of oil. The success was adopted by progress on the $5 billion Bonga North deepwater challenge, which reached Last Funding Determination (FID) in 2025, additional strengthening Nigeria’s offshore vitality prospects.
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