Tag Archives: African Energy Chamber

AEC embarks on strategic visit to Senegal to boost regional energy investment

Posted on by
Reply

The African Energy Chamber (AEC), the leading voice of Africa’s energy industry, has announced a working visit to Senegal from November 12 to 14, 2025, as part of efforts to strengthen partnerships, attract fresh investments, and accelerate growth across the MSGBC energy region.

Led by its Executive Chairman, NJ Ayuk, the AEC delegation is expected to meet with top government officials, energy regulators, and private sector stakeholders. The visit will focus on exploring new areas of collaboration and highlighting emerging investment opportunities in Senegal’s expanding oil, gas, and renewable energy sectors.

This mission comes ahead of the MSGBC Oil, Gas & Power 2025 Conference, scheduled to take place in Dakar from December 8 to 10 under the patronage of President Bassirou Diomaye Faye. The annual event brings together global investors, regional governments, and energy innovators to foster capital inflow, technology transfer, and inclusive economic growth across the region.

According to the AEC, the MSGBC region – which includes Mauritania, Senegal, The Gambia, Guinea-Bissau, and Guinea-Conakry – is entering a transformative phase, driven by major offshore discoveries and new exploration opportunities.

Senegal, in particular, continues to lead the charge with the Sangomar oilfield, which began production in 2024, and the Greater Tortue Ahmeyim (GTA) LNG project, expected to come online in 2025. The government is now moving toward GTA’s second phase and seeking partners for the Yakaar-Teranga gas project.

To attract further investment, Senegal is currently reviewing its oil and gas regulatory codes, focusing on transparency, local participation, and ensuring that energy revenues deliver tangible benefits to citizens.

“Senegal represents one of Africa’s most promising energy success stories,” said NJ Ayuk, Executive Chairman of the AEC. “From world-class gas projects to progressive energy transition policies, the country is setting a benchmark for how to attract investment and foster inclusive growth. Our visit aims to deepen collaboration with Senegalese partners and ensure the MSGBC region remains at the forefront of Africa’s energy future.”

Read Also: AEC’s Ayuk to shape energy future at MSGBC Oil, Gas & Power 2025 in Dakar

Beyond Senegal, neighboring countries are also stepping up efforts to attract energy investment. Mauritania is advancing its BirAllah gas project, estimated to hold 80 trillion cubic feet of reserves, while also investing in green hydrogen initiatives such as the 30 GW AMAN and 10 GW Project Nour. By 2040, the country targets producing up to 10 million tons of green hydrogen annually.

In Guinea-Bissau, energy giant Chevron recently secured operatorship of two offshore exploration blocks (5B and 6B), marking a new phase in the nation’s exploration drive. Meanwhile, Guinea-Conakry is preparing for a 22-block licensing round to attract investors to its frontier oil and gas basins, supported by a new seismic data visualization center established in partnership with SLB and TGS.

Similarly, The Gambia is developing a new petroleum exploration and production bill to improve transparency and draw foreign participation.

The AEC’s visit is expected to strengthen investor confidence across the region and set the stage for major announcements during the MSGBC Oil, Gas & Power 2025 conference.

Africa’s upstream oil sector poised for gradual recovery in 2026 – AEC

Posted on by
Reply

Africa’s upstream oil and gas industry is set for a cautious but steady rebound in 2026, driven by renewed investment in mature producers and growing interest in new exploration frontiers, according to the African Energy Chamber’s (AEC) State of African Energy 2026 Outlook, released at African Energy Week 2025 in Cape Town.

The report highlights how traditional producers such as Algeria, Nigeria, Libya, Egypt, and Angola continue to dominate Africa’s output despite aging infrastructure and maturing fields. Meanwhile, emerging hotspots like Namibia and Côte d’Ivoire are drawing investor attention following recent discoveries and favorable fiscal conditions.

Advances in deepwater drilling, seismic imaging, and processing technology are also reshaping exploration, enabling access to complex reservoirs across the continent. In North Africa, discoveries under the Upper Miocene evaporites in the Mediterranean basin have unlocked more than 50 trillion cubic feet of gas, while offshore fields like Zohr in Egypt underscore both the promise and technical complexity of the region.

Along the Atlantic margin, new finds such as Angola’s Agogo field point to pre-salt potential, with further prospects expected in the Gabon Coastal and Kwanza basins. Onshore, Namibia’s Owambo Basin and Zimbabwe’s Rufunsa Basin remain underexplored, with limited commercial finds so far.

Read Also: AFC secures $100m FinDev Canada loan for sustainable infrastructure

“The African upstream sector is evolving rapidly,” said NJ Ayuk, Executive Chairman of the AEC. “Realizing the continent’s full potential will depend on targeted investments, progressive fiscal policies, and strategic partnerships that can de-risk high-value projects.”

According to the report, Africa’s total hydrocarbon production is projected to remain stable at about 11.4 million barrels of oil equivalent per day (MMboe/d) in 2026, rising to 13.6 MMboe/d by 2030. North Africa is expected to contribute around 60% of total output, while sub-Saharan Africa provides the rest. Liquids will account for approximately 63% of 2026 volumes, with natural gas making up 37%, buoyed by new LNG projects in Mozambique, Nigeria, and Senegal.

The report also cautions that several major fields face potential delays or risks of asset stranding due to fiscal and technical challenges. Southern African discoveries such as Brulpadda, Luiperd, and Venus could struggle to achieve commercial viability without improved terms and supporting infrastructure.

Another major trend is the growing influence of National Oil Companies (NOCs), which now account for about 53% of Africa’s total production, compared to 30% from International Oil Companies (IOCs). This shift reflects stronger resource nationalism and a push for local capacity development.

Meanwhile, the African rig market remains mixed: floater demand is gradually declining, jackup activity is stable, and drillship utilization is expected to improve from 2027, though competition and lower day rates will continue to pressure margins.

The AEC notes that the upcoming African Energy Week 2026, scheduled for October 12–16 in Cape Town, will serve as a critical platform for addressing these developments. The event will gather investors, operators, and policymakers to discuss exploration breakthroughs, investment frameworks, and Africa’s evolving energy transition.