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Sonatrach-ExxonMobil Gas Deal to Open New Play in the Ahnet-Gourara Basin

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Sonatrach

The deal signifies a pivotal step in Algeria’s hydrocarbon development, marking a strategic partnership aimed at tapping into the nation’s gas reserves

JOHANNESBURG, South Africa, May 24, 2024/APO Group/ — 

Algeria’s state oil company Sonatrach and energy major ExxonMobil have signed a deal to develop two major gas fields in southern Algeria’s Ahnet and Gourara basins. The agreement, signed by Sonatrach’s Chief Executive Rachid Hachichi and ExxonMobil’s Head of Exploration John Ardill represents a milestone in Algeria’s energy sector, highlighting substantial progress and newfound opportunities for investment. Both parties will prioritize technological advancements alongside the adoption of best sustainability practices and environmental protection measures.

As the voice of the African energy sector, the African Energy Chamber (AEC) strongly supports this agreement and its role in fostering collaboration between international oil companies (IOC) and African nations. Such partnerships are vital for unlocking Africa’s vast energy potential – a focus of the upcoming African Energy Week (AEW): Invest in African Energy in Cape Town from November 4-8.

AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.

Algeria’s partnership with ExxonMobil signifies a pivotal moment for the country’s energy landscape

Algeria, a key gas exporter to Europe, is strategically positioning itself as a player in the global energy market through the facilitation of collaborations with IOCs. The anticipated synergy with ExxonMobil is set to bolster Algeria’s capability to address escalating energy needs. In 2022, Algeria led Africa in natural gas production, reaching a record 132.7 billion cubic meters. The country’s output continued to rise, exceeding 136 billion cubic meters in 2023, with natural gas contributing two-thirds of its total oil equivalent production. Through comprehensive exploration campaigns and targeted initiatives, the nation aims to unlock untapped reserves, fostering partnerships and driving sustainable development across its energy sector.

Algeria’s proactive engagement with IOCs and utilization of technological advancements position it to effectively leverage its abundant natural resources to meet the increasing energy demands of both domestic and international markets. These developments are encouraged by the nation’s Hydrocarbon Law, implemented in 2019, which aims to simplify fiscal terms to entice investment and accelerate exploration efforts. In addition to ExxonMobil, these measures have enticed other players to invest. Multinational energy company Chevron is showing interest in tapping into Algeria’s gas-rich Ahnet, Gourara and Berkine basins, while Indonesia’s national oil company Pertamina plans to invest over $800 million in the Menzel Lejmat Nord block. Pertamina hopes to drill 12 oil wells in Block 405a. Additionally, TotalEnergies signed an MoU with Sonatrach last month to develop gas resources in the North-East Timimoun region, focusing on cost reduction and emissions management.

Meanwhile, Algeria is set to invest $50 billion in oil and gas projects by 2027, aiming to boost production from assets like the Hassi R’Mel gas field and bring new developments online. Sonatrach has recently initiated phase two of the southwest gas project, launching three key fields – Hassi Ba Hamou, Hassi Tidjerane, and Tinerkouk.

Algeria’s strategic approach to develop its oil and gas resources will be complemented by ExxonMobil’s extensive experience and longstanding commitment to energy development in Africa. ExxonMobil has a rich history of over a century of operations in Africa, demonstrating a longstanding commitment to the region’s energy development. Since 2006, the company has pledged more than $46 billion to investments across the continent, underscoring its dedication to driving economic growth and sustainable energy solutions across the continent. The partnership between Algeria and ExxonMobil will therefore be instrumental in enhancing exploration efficiency, optimizing production processes, ensuring sustainable resource utilization practices and leveraging the company’s extensive experience and track record in managing complex energy projects across Africa.

“Algeria’s partnership with ExxonMobil signifies a pivotal moment for the country’s energy landscape. It underscores the potential for collaboration between African nations and IOCs to unlock energy resources, ultimately driving sustainable development and eliminating energy poverty across the continent,” states NJ Ayuk Executive Chairman of the AEC. “By forging such partnerships, Algeria not only secures access to advanced technologies and expertise but also positions itself as a regional gas exporter to European nations.”

This partnership signifies a crucial effort to revitalize Algeria’s energy sector, presenting opportunities for responsible and sustainable utilization of its abundant natural resources. This year’s AEW theme – Energy Growth through an Enabling Environment – perfectly aligns with Algeria’s approach to attracting investment and fostering sustainable energy practices through partnerships. This signifies Algeria’s commitment to energy sustainability, resonating with the broader objectives of the AEW: Invest in African Energy.

Distributed by APO Group on behalf of African Energy Chamber.

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Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

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The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

 

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Beyond Stabroek: Guyana’s Offshore Basin Attracts New Wave of Exploration Investment

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Etu Energias

As ExxonMobil advances appraisal activity in Stabroek and new operators target frontier acreage, Guyana is attracting global capital and building a diversified offshore portfolio designed to sustain long-term growth

GEORGETOWN, Guyana, August 7, 2026/APO Group/ –Guyana’s transformation into one of the world’s fastest-growing oil producers is entering a new phase, with a growing network of IOCs expanding exploration activity across the country’s offshore basin. Beyond the landmark discoveries that first put Guyana on the global energy map, new drilling campaigns and licensing partnerships are creating a broader exploration ecosystem designed to support long-term production growth.

At the center of this momentum is ExxonMobil’s continued exploration and appraisal activity in the prolific Stabroek Block. The company has submitted a proposal for a 35-well exploration and appraisal drilling campaign, expected to run from 2028 through 2033, pending regulatory approval. The program would build on more than 30 commercial discoveries already made in the block, with drilling activity focused on evaluating new prospects and appraising existing discoveries to support future development opportunities.

Exploration activity is also extending into Guyana’s frontier acreage, with ExxonMobil advancing drilling operations at the deepwater Canje Block. The company has deployed the Noble Stena Carron drillship for exploration activity, highlighting continued industry interest in evaluating Guyana’s underexplored offshore potential beyond the established Stabroek Block.

Guyana’s strong exploration outlook comes as the country’s economy continues to benefit from rapid oil sector expansion, with hydrocarbons expected to remain a key driver of exports, government revenues and economic growth. As production scales up, attracting additional investment across exploration, services and infrastructure will be critical to supporting the next phase of development.

That momentum is being reinforced through partnerships established under Guyana’s 2023 offshore licensing round. A consortium comprising TotalEnergies, QatarEnergy and Petronas is advancing exploration activities in Block S4 under a five-year production sharing agreement signed with the government in late 2025. The award represents one of the first major outcomes of the licensing round and demonstrates continued international confidence in Guyana’s offshore resource potential.

Beyond the largest operators, a diverse group of companies is also expanding activity across Guyana’s offshore basin. Eco Atlantic is advancing exploration at the Orinduik Block; CGX Energy and Frontera Energy are progressing work in the Corentyne Block; Occidental is evaluating opportunities in the Roraima Block; while Ratio Guyana and Cataleya Energy hold interests in the Kaieteur Block. Together, these partnerships are broadening Guyana’s exploration landscape, increasing competition for acreage and creating opportunities for future discoveries.

As Guyana transitions from an emerging producer to a global energy hub, the next challenge will be converting exploration success into sustainable investment, local value creation and regional growth. These opportunities will be explored at Caribbean Energy Week 2027, held under the theme “Unlocking the Caribbean Energy Corridor: Oil, Gas, LNG & Investment for a New Global Hub.” Bringing together governments, IOCs, investors and technology providers, the event will examine how Guyana’s expanding partnerships can accelerate offshore development, strengthen regional energy cooperation and attract the capital needed to support the Caribbean’s evolving energy landscape.

Distributed by APO Group on behalf of Energy Capital & Power.

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Energy Capital & Power Establishes London Entity, Expanding Global Platform for Energy and Mining Events

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Energy

The move strengthens ECP’s presence in the UK and Europe, and its ability to connect African and South American markets with global investors

LONDON, United Kingdom, August 6, 2026/APO Group/ –International events company Energy Capital & Power (ECP) (www.EnergyCapitalPower.com) has officially established its UK entity in London, marking a milestone in the company’s growth strategy and reinforcing its ability to deliver world-class energy and mining events and campaigns in the UK and Europe.

By establishing a presence in a key hub like London – the pre-eminent energy and mining finance center – ECP actively shapes the global energy conversation. The expansion positions ECP to better serve clients, partners and investors seeking to develop business opportunities between Africa, Europe, the Americas and energy markets worldwide.

Opening our UK company brings ECP closer to key investors in the global energy finance capital

The milestone comes as ECP strengthens its reach through a series of investment platforms that connect global capital to energy and mining projects. These include the Venezuela Energy Week London Showcase on July 30 – with over 300 delegates registered – and the annual Invest in African Energy Forum, held in Paris as the premier event connecting global investors to Africa’s energy transformation.

ECP hosts high level summits and investor conferences in leading energy and minerals producing countries in Africa and South America, including: Venezuela Energy Week; Angola Oil & Gas; MSGBC Oil, Gas & Power; African Mining Week; Libya Energy & Economic Summit; Congo Energy & Investment Forum; South Sudan Oil & Power; and Caribbean Energy Week. The company has hosted investor forums and supported licensing round roadshows in Houston, London and Paris since 2016.

“Opening our UK company brings ECP closer to key investors in the global energy finance capital,” states CEO James Chester. “Having a permanent presence in London further cements our footprint in Europe, enabling us to fulfil our mission to bring minerals and energy investment to diverse global markets.”

With teams located across Africa, Europe and the Americas, ECP has long-facilitated strategic engagement, market intelligence and industry convening, uniting investors with leading energy and mining projects.

Distributed by APO Group on behalf of Energy Capital & Power.

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