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Welligence Webinar Highlights Strong Investment Forecast for African Oil & Gas Sector

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Nigeria

Africa’s oil and gas sector is expected to witness strong investment flows in the coming years, speakers said during a webinar organized by energy analytics company Welligence. While global energy majors are expected to reduce their funding – prioritizing high-return projects and strategic assets – independent and national oil companies are rapidly expanding their portfolios, breathing new life into mature fields.

These investment trends are attributed to a variety of factors, including reduced global spending for oil and gas projects, restructured portfolios and improved operating climates across the continent. According to Temitope Malomo, Senior Analyst, sub-Saharan Africa, Welligence Energy Analytics, the continent is also witnessing a shift by the majors from onshore and shallow water acreage to deepwater and ultra-deepwater basins, with independents stepping in to sustain – and sometimes increase – production.

“The majors have been very active divesting their mature assets. Independents have been responsible for picking up these reserves. However, even with this momentum in M&A activity driven by independents, it’s important to note that long-term investments will continue to be driven by the majors. Examples include the Eni-operated Baleine project in Ivory Coast and TotalEnergies-operated Venus project in Namibia,” he stated.

Even with this momentum in M&A activity driven by independents, it’s important to note that long-term investments will continue to be driven by the majors

Titled Upstream Investment – The new wave of capital heading to sub-Saharan Africa, the webinar drew attention to the driving factors behind Africa’s anticipated surge in upstream financing. NJ Ayuk, Executive Chairman of the African Energy Chamber (AEC), engaged in a conversation with Ross Lubetkin, CEO of Welligence Energy Analytics, on this topic, highlighting the role regulatory reform has played in attracting foreign capital.

“There is a change when you look at global investments coming into Africa and part of that has been the change in the U.S. administration. But African governments have also done a lot. They have realized that they are not competing among themselves; they are competing with Guyana, America and other international countries. They have improved approval timelines, fiscals and even the licensing process has been streamlined in many countries. But there is still a lot of work to be done,” Ayuk said.

Ayuk shared insight into the regulatory advancements seen across the continent. These include Nigeria, which implemented its Petroleum Industry Act to entice investment; Angola, which has significantly improved its fiscals and licensing procedures; and the Republic of Congo, which is working towards a Gas Master Plan and new Gas Code. By strengthening their respective business environments, countries across the continent are making a strong case for foreign investment.

“When you open up the market, investors gain confidence. They move in and you see a lot of activity. If you reform, change and do it right, money will flow. This nationalization approach doesn’t work. It keeps us behind. International companies invest, they create jobs, they bring taxes. Whose benefit is that? It’s ours,” Ayuk added.

Looking ahead, the continent is expected to witness a series of final investment decisions (FID) in the coming years, as companies work to unlock new hydrocarbon plays in both established and emerging markets.

“We have seen upward budget revisions for some independents, but for the majors, budgets are down about 5% year-on-year. This does not mean that companies will not progress new projects; but only the best projects will advance. Companies will be looking closely at their respective pre-FID portfolios. We see deepwater and LNG projects dominating that picture. There is a decent pipeline of projects in sub-Saharan Africa that we expect to progress in the coming months,” stated Obo Odornigie, SVP: Energy Trends & Analytics, Welligence Energy Analytics.

Distributed by APO Group on behalf of African Energy Chamber.

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Critical Mineral Projects to Watch Ahead of Invest in African Energy (IAE) 2026

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Energy Capital

The Uganda Chamber of Energy and Minerals, with both its CEO and governing council chairperson confirmed for Paris, will serve as the primary interface for investors seeking access to Uganda’s licensing framework and project pipeline

CAPE TOWN, South Africa, March 26, 2026/APO Group/ –Governments from West, Central and Southern Africa, with delegations confirmed for the Invest in African Energy (IAE) Forum in Paris next month, are each advancing critical mineral projects that span processing deals, development-stage assets and frontier exploration plays, giving investors a range of entry points across the minerals value chain.

Nigeria – Alumina Refinery & Lithium Processing

Nigeria struck a $1.3 billion deal with the Africa Finance Corporation in early March covering three components: construction of a one-million-ton-per-year alumina refinery, a national geoscience mapping program, and a joint investment vehicle to accelerate exploration and production across priority leases. Projected at 95% utilization over 20 years, the refinery is expected to add $1.2 billion to GDP annually and generate approximately $8 billion in foreign exchange earnings over its lifespan.

Separately, a $600 million lithium processing plant in Nasarawa State is at the commissioning stage, backed by ongoing mapping of lithium-bearing pegmatite belts across Kwara, Ekiti and Kaduna states. New mining licenses now require a local processing commitment covering at least 30% of output before export, a condition that directly shapes the investment structures available to foreign partners. Nigeria’s energy minister is among the confirmed delegations at IAE in Paris.

Zambia – Copperbelt Expansion & Cobalt Refinery

 

Copper output in Zambia is on course to clear one million tons in 2026, supported by First Quantum Minerals’ completed $1.25 billion S3 plant expansion at Kansanshi and Barrick Gold’s $2 billion program to double output at Lumwana by 2028. Several additional projects, including Sinomine’s Kitumba Mine and KoBold Metals’ Mingomba deposit, are also coming online this year, making Zambia one of the few places globally adding significant incremental copper supply in the near term.

Africa’s first cobalt sulfate refinery is targeting commissioning in Zambia in 2026, adding downstream processing capacity alongside the copper ramp-up. The Lobito Corridor, backed by a $553 million US Development Finance Corporation loan for Angola’s Benguela rail link, reduces export costs across the Copperbelt and improves project bankability for both mines and processing facilities seeking long-term offtake commitments.

Senegal – Falémé Integrated Iron Project

Senegal’s Falémé iron district in the Kédougou region holds over 600 million tons of probable reserves, including oxide ore at around 59% iron content and primary magnetite at roughly 45% Fe. The government launched the Falémé Integrated Iron Project as a phased program targeting 15 to 25 million tons per year at peak output, with national iron ore company MIFERSO conducting ongoing reserve verification.

The mineral export port at Bargny is operational and rail rehabilitation linking Kédougou to the coast is progressing under the Emerging Senegal Plan. The project is actively seeking a technical development partner. With port and rail infrastructure advancing independent of any single mining operator, Falémé carries lower logistics risk than comparable iron ore projects requiring greenfield corridor construction, which affects how financiers assess project bankability and timelines to first revenue.

Equatorial Guinea – Rio Muni Mineral Exploration

Equatorial Guinea’s Rio Muni mainland offers early-stage exposure to gold, bauxite, base metals, coltan and iron ore across largely underexplored onshore territory. The Ministry of Mines and Hydrocarbons has been opening the sector since its first public tender in 2019, with exploration contracts now in place and state geological mapping advancing in partnership with Rosgeo. Minister Antonio Oburu Ondo will address investors at IAE, with the minerals program expected to feature in bilateral meetings.

Uganda – Rare Earths & Minerals Sector Opening

Uganda holds rare earth deposits in ionic adsorption clay formations — a deposit type the IEA has flagged for low capital intensity relative to hard rock alternatives — alongside gold mineralization across greenstone belts in the West Nile, Karamoja and Mubende regions. The Uganda Chamber of Energy and Minerals, with both its CEO and governing council chairperson confirmed for Paris, will serve as the primary interface for investors seeking access to Uganda’s licensing framework and project pipeline, at the same time as the country’s Tilenga and Kingfisher oil developments move toward first oil.

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

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APO Group Takes Gold at 2026 SABRE Awards – Second Consecutive Win Across Different Clients and Sectors

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Recognition spans technology, global sport, and culture, reflecting APO Group’s cross-sector communications performance across Africa

JOHANNESBURG, South Africa, March 26, 2026/APO Group/ –APO Group (www.APO-opa.com), the pan-African communications consultancy integrating advisory, execution, and proprietary news distribution, has won gold in the Northern Africa category at the 2026 Africa SABRE Awards for its campaign, GITEX Africa Morocco 2025: A Media-Fuelled Journey for Tech Excellence.

 

Delivered for GITEX Africa, the campaign generated more than 3,600 media clippings across African and global outlets, positioning the event as the continent’s leading technology and startup platform, while reinforcing Morocco’s emerging status as a regional technology hub.

Being honoured at the SABRE Awards is particularly meaningful because it reflects the impact of communication designed specifically for how African markets work

APO Group was a finalist in two additional categories for campaigns delivered for international organisations operating across Africa:

  • The Africa Flag 2025 Tournament: Raising the Game in Cairo – National Football League (Media Relations category)
  • Broadcasting Greatness: Elevating African Hoops and Culture at BAL 2025 – Basketball Africa League (BAL) (Media, Arts & Entertainment category)

The SABRE Awards recognise excellence in branding, reputation management, and engagement across the global communications industry. This latest accolade adds to APO Group’s growing record at these prestigious awards, following its win in 2025 for a campaign delivered for Canon Central and North Africa, as well as multiple finalist placements for campaigns supporting leading institutions such as GITEX Africa, Africa’s Business Heroes, and the Global Africa Business Initiative.

 

“Being honoured at the SABRE Awards is particularly meaningful because it reflects the impact of communication designed specifically for how African markets work,” said Bas Wijne, Chief Executive Officer at APO Group. “Successful pan-African campaigns combine strategic planning and strong local execution, together with a clear understanding of how different markets, media environments, and audiences connect with a story. It’s about designing communications that deliver measurable outcomes and help organisations engage effectively and confidently across Africa’s diverse media landscape.”

In addition to its SABRE Awards success, APO Group has received multiple major industry honours over the past year, including Gold and Bronze at the Davos Communications Awards for excellence in strategic communications and campaign execution. The company was also named Africa’s Leading PR Agency – 2025 by Brands Review Magazine and Best Public Relations & Media Consultancy Agency of the Year – 2025 by World Business Outlook.Operating across 54 African countries, APO Group provides communications advisory services, public relations, and media distribution through its proprietary newswire, Africa Newsroom, which places content on more than 250 Africa-focused news platforms worldwide.

Distributed by APO Group on behalf of APO Group.

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Sierra Leone’s PDSL to Host Strategic Investor Roundtable at Paris Energy Forum

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Energy Capital

The Petroleum Directorate of Sierra Leone will lead a targeted roundtable at Invest in African Energy 2026, spotlighting upstream potential and cross-regional partnerships

PARIS, France, March 24, 2026/APO Group/ –The Petroleum Directorate of Sierra Leone (PDSL) is set to convene an investor roundtable at Invest in African Energy (IAE) Forum 2026 in Paris, underscoring growing interest in West and North African energy markets and the need for deeper capital engagement across exploration, renewable and offshore services. The session reflects a strategic effort by Sierra Leone to connect its emerging upstream prospects with established operators and project developers as the country moves to unlock the full potential of its emerging oil and gas industry.

 

Sierra Leone is increasingly positioning itself as a frontier oil and gas market with significant offshore potential, and part of the PDSL’s mandate is to catalyze investment interest in its offshore acreage through direct engagement with global capital. Recent data suggest the country holds estimated recoverable resources in the tens of billions of barrels, backed by discoveries and extensive multi‑client seismic datasets that prospective investors are evaluating. The PDSL is actively promoting licensing opportunities and drilling plans, emphasizing fiscal terms and exploration readiness to attract strategic partners.

 

A cornerstone of this strategy is the anticipated launch of the country’s sixth licensing round. Offering a rare early-entry opportunity into a largely untapped deepwater terrain with considerable upside, the upcoming bid round is backed by fresh 3D datasets which de-risk exploration and support new drilling campaigns. Just this month, GeoPartners announced that the final Pre-Stack Time Migration data for its recently acquired 3D multi-client seismic survey in the country was complete and is now available for licensing. The dataset provides a 3D window into the hydrocarbon potential of the underexplored northern Sierra Leone region.

 

Sierra Leone’s licensing drive comes as major operators advance exploration activities. In 2025, Eni signed a Reconnaissance Permit Agreement with the PDSL, securing rights to conduct reconnaissance and technical evaluation activities across offshore blocks G113, G129, G130, G131 and G132. The acreage covers 6,790 square kilometers within Sierra Leone’s territorial waters. Nigeria’s F.A. Oil Limited is pursuing drilling following its award of six offshore blocks through the country’s fifth licensing round in 2023. The company is currently seeking a farm-in partner to advance the project from exploration to production, offering a 40% stake in each of the G Blocks 53, 54, 55, 71, 72 and 73.

 

As these development unfold, the upcoming roundtable at IAE 2026 offers a unique opportunity for operators and policymakers to engage potential investors. The IAE 2026 Forum has become a strategic bridge between African upstream opportunities and global investors, with sessions like the PDSL roundtable designed to foster deeper dialogue and provide clarity on project pipelines and investment prerequisites. Discussions are expected to cover mechanisms for de‑risking exploration activity, optimizing fiscal and contractual frameworks and identifying synergies between hydrocarbon investment and renewable energy commitments.

 

For investors seeking differentiated exposure to African energy markets, the Sierra Leone roundtable represents both a focused exploration of frontier oil potential and a broader conversation about regional infrastructure, partnerships and the evolving demands of energy capital in the years ahead.

 

IAE 2026 (www.Invest-Africa-Energy.com) is an exclusive forum designed to connect African energy markets with global investors, serving as a key platform for deal-making in the lead-up to African Energy Week. Scheduled for April 22–23, 2026, in Paris, the event will provide delegates with two days of in-depth engagement with industry experts, project developers, investors and policymakers. For more information, visit www.Invest-Africa-Energy.com. To sponsor or register as a delegate, please contact sales@energycapitalpower.com

 

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

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