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Major Oil & Gas Farm-In Prospects Unveiled at African Farmout Forum

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African Farmout Forum

The African Farmout Forum featured 16 companies presenting competitive farm-in opportunities across Africa’s oil and gas hotspots

CAPE TOWN, South Africa, November 5, 2024/APO Group/ — 

The African Farmout Forum – as part of the pre-conference workshops at African Energy Week: Invest in African Energies 2024 – featured 16 companies presenting competitive farm-in opportunities in Africa’s leading oil and gas hotspots.  

Led by global energy advisory Moyes, oil and gas asset deals platform Farmout Angel, and independent advisor Envoi, the forum serves as the premier platform for deal-making and pitching, enabling NOCs, small to medium-sized independents, and start-up energy companies to highlight their partnership and investment opportunities, while accelerating exploration and accessing project funding. 

PSAs 131, 190 and 206 – Somalia   

Liberty Petroleum Corporation is seeking a farm-in partner for PSAs 131, 190 and 206 offshore Somalia. These licenses contain exceptionally large mapped prospects, with an estimated 56 billion barrels of oil resources. Among these is the Leopard prospect, which alone is estimated to hold about 8 billion barrels of resources, highlighting new oil-prone opportunities offshore Somalia. 

Onshore PSCs – Timor-Leste  

Timor Resources is seeking a strategic investment of $20 million to fund three appraisal wells on two PSCs onshore Timor-Leste in exchange for equity in the project. The company has made three discoveries from its initial onshore wells, and the acreage is recognized as a significant conventional oil and gas play with substantial exploration upside. Timor-Leste offers a competitive fiscal regime, allowing 95% of revenue to be allocated to the operator for cost recovery, along with a 5% revenue royalty and additional benefits. 

Loukos Onshore License – Morocco  

Chariot Transitional Energy presented the Loukos Onshore license area in Northern Morocco, representing a near-term, low-risk and high reward appraisal opportunity. Operator Chariot has identified multiple drill-ready opportunities, which offer long-leads in existing inventory and rig availability in-country, along with competitive fiscal terms and license flexibility. These include the RJB-2 Re-Drill, OBA-1 Discovery Appraisal and Material Exploration opportunities.  

Offshore South West Tano Block – Ghana  

OSWT & EK Operating Company is seeking a partner to earn a significant working interest – and potentially operatorship – in the Offshore South West Tano block in Ghana. The block represents a multi-target, low-risk exploration well with tie-back or standalone development options, and lies between the Jubilee and TEN field developments and directly north of the Pecan field. Block prospectivity totals over two billion barrels in place spread across four prospects with a mix of exploration and appraisal targets. The first prospect set to be drilled – Edinam-1X – is scheduled for Q3 2025.  

OPL 332 – Nigeria  

Dajo Energy is seeking a co-developer to develop the Oil Prospecting License (OPL) 322 asset into production. Located offshore Nigeria, OPL 322 contains two major structures – Bobo and Aga thrust – with the Bobo field containing recoverable resources of 277 million barrels of oil and 1.2 trillion cubic feet (TCF) of gas. The Aga thrust is undrilled, but estimated to contain 885 million barrels and 2.5 TCF. The farm-in opportunity offers significant potential upside, with substantial gas resources with high commercialization potential, a possible five-year royalty holiday, and additional incentives under Nigeria’s new oil and gas fiscal and regulatory framework.  

Blocks 53, 53, 55, 71, 72 and 73 – Sierra Leone  

FA OIL is exploring partnerships for blocks 53, 53, 55, 71, 72 and 73, awarded under Sierra Leone’s fifth licensing round. The acreage spans more than 8,000 km², containing 14+ leads in water depths up to 4,000 m. Six out of 11 wells drilled have oil or gas shows or are discoveries. GeoPartners, in partnership with the Petroleum Directorate of Sierra Leone, are planning a new multi-client 3D seismic acquisition over the FA OIL acreage to help mature the leads identified on existing 2D seismic into drillable prospects. The campaign is set to begin July 2025.  

EG-18 and EG-31 – Equatorial Guinea   

Africa Oil Corp. is seeking to farm out interests in blocks EG-18 and EG-31, located offshore Equatorial Guinea. EG-18, positioned in a frontier exploration area within an emerging basin, includes the Jasper prospect – a “giant” target with multi-billion-barrel potential and proven play elements. In contrast, EG-31 offers an infrastructure-led, shallow water exploration opportunity in a mature basin, situated near the Alba field and Punta Europa LNG terminal. This low-risk, proven gas province boasts multi-TCF potential, comprehensive 3D seismic coverage and hosts the Massif and Whistler prospects. 

Deepwater Orange Basin – Namibia  

Namibia has attracted a wealth of major operators, resulting in substantial exploration and appraisal activity in 2023 and 2024. Following world-class hydrocarbon discoveries in 2022 by Shell and TotalEnergies, operators including Galp, Chevron and Woodside Energy have taken strategic positions in adjacent blocks, while non-operating partners such as QatarEnergy, Impact Oil & Gas, Africa Oil Corp. and Sintana Energy have made significant investments in the basin, creating additional farm-in opportunities. 

Marginal Field Development Program – Nigeria  

Decklar Resources and Millennium Oil and Gas Company are in discussions with potential investors and farm-in partners for the Oza field, located in the northern section of OML 22 onshore Nigeria. The license encompasses over 30 discovered oil fields, including producing fields operated by Shell, and benefits from well-established infrastructure with export pipeline access to the Trans Niger Pipeline, linking to the Bonny Offshore Terminal. Three wells previously drilled by Shell in the Oza field have collectively produced over one million barrels. 

Matanda Block – Cameroon  

Gaz du Cameroun (GDC) presented the Matanda block in Cameroon, an onshore gas farm-in opportunity with an established local market and fast-track monetization potential. The Matanda exploration block, located in the Douala Basin near the onshore Logbaba field, is recognized as a proven and active hydrocarbon system. Currently, GDC produces gas and condensate from the Logbaba field, transporting it via pipeline to industrial clients, including Dangote Cement. GDC is seeking an industry partner and is open to farming out up to a 37.5% interest in the PSC. 

Blocks 5 and 12 – São Tomé and Príncipe 

Oando Energy Resources is seeking a partner to advance its exploration commitments on Blocks 5 and 12 in the Exclusive Economic Zone of São Tomé and Príncipe. The country has seen recent licensing activity from Shell, Petrobras, TotalEnergies, Kosmos Energy and Galp. In phase one of its Block 12 work program, Oando has already completed 2,000 km² of 3D seismic and is now progressing into phase two, with plans to drill an exploration well in Q2 2025. 

Block KON6 – Angola  

Grupo Simples presented Block KON6, an onshore exploration opportunity in Angola’s Kwanza Basin. Spanning 1,042 km², KON6 is estimated to hold 382 million barrels of unrisked resources. Five wells have previously been drilled, with six leads evaluated in the first phase. Grupo Simples is targeting three primary leads – 1N, 1S, and 2 – and plans to launch additional seismic acquisition in January 2025, followed by the spudding of the first well in August 2025. The company seeks a partner to accelerate exploration and production activities, as well as diversify its risk.   

Licensing Opportunities – Democratic Republic of the Congo  

The Ministry of Hydrocarbons of the Democratic Republic of the Congo (DRC) has entered into direct negotiations on all of its acreage. This includes the Cuvette Central Basin, with four drilled wells and proven source rocks; the Lake Albert Graben, featuring multi-BCF discoveries in Uganda with an undrilled DRC side; Lake Tanganyika, supported by existing 2D seismic data; and the Coastal Basin, aligned with the Cabinda fields’ trend. In the Lake Albert acreage, the Ministry plans to reprocess existing data, acquire new 3D seismic on selected structures, and launch a restricted call for tenders in June 2025. 

Carbon Limits Nigeria  

Carbon Limits Nigeria (CLN) is seeking new upstream partners for emission reduction projects; investors targeting emission reduction projects to gain carbon credit exposure; and/or buyers of carbon credits generated from projects. Pan-African in focus, CLN provides solutions on clean energy utilization, climate change mitigation and carbon assessment of projects. The company currently has projects in Algeria, Egypt and Nigeria, where it is leading flare projects in OMLs 98, 56, 53 and 24.  

License SL2020A – Sierra Leone  

Innoson Oil and Gas is offering a significant equity position in exploration license SL2020A, located in deepwater acreage offshore Sierra Leone with existing discoveries. This area is underexplored and has geological similarities to the conjugate margin of Guyana. Innoson recently secured a four-year license extension and is seeking a farm-in partner to assist with 3D seismic interpretation to assess prospectivity and facilitate a drill-or-drop decision by March 2028. To date, five large leads have been mapped using 2D data, bringing the total to 16 leads, along with two wildcat wells drilled and three major discoveries: Venus, Mercury and Jupiter. 

Diender Permit – Senegal 

Africa Fortesa Corporation is seeking to farm out part of its interest in the Diender PSA Permit onshore Senegal, which boasts a scalable production base with significant transformational upside. This permit is part of the same play as the Sangomar field and has multiple TCF of recoverable gas potential, along with low exploration and production cost thresholds and strong local gas market demand. The planned work program includes drilling the Gadiaga field development well, followed by a three-well drilling program at NBW-1, AT-1PM and AT-2, as well as four appraisal wells. Africa Fortesa is looking for future funding for appraisal wells, field development and infrastructure partnerships for midstream and virtual pipelines. 

Distributed by APO Group on behalf of African Energy Chamber.

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Africa and Caribbean trade potential could reach $1.65 billion annually by 2030: International Trade Centre (ITC)-Afreximbank report

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Afreximbank

The report finds that around 80% of Africa’s annual goods export potential to the Caribbean remains untapped

ST. JOHN’S, Antigua and Barbuda, November 3, 2026/APO Group/ –Annual trade in goods and services between Africa and the Caribbean could reach up to $1.65 billion by 2030, excluding mineral fuels, according to a new report launched today by the International Trade Centre (ITC) and African Export-Import Bank (Afreximbank) (www.Afreximbank.com) on the sidelines of the Commonwealth Heads of Government Meeting in Antigua and Barbuda.

 




  

The report, Reshaping Africa-Caribbean Trade: Opportunities for Economic Transformation, (https://apo-opa.co/4eiz62u) finds that while Africa and the Caribbean share deep historical and cultural links, trade between the two regions continues to represent only a small share of each region’s overall trade, despite complementarities across sectors ranging from agribusiness and manufacturing to services and the creative economy.

A look at the numbers

The report finds that around 80% of Africa’s annual goods export potential to the Caribbean remains untapped, with are significant opportunities for export growth if trade and investment is actively promoted and facilitated.

Africa and the Caribbean must transform a shared history into shared prosperity

Caribbean export potential lies in the services sector, reaching $481 million. The report identifies business opportunities across several priority sectors, including processed food and animal feed, chemicals, minerals and metals, apparel and textiles, leather and footwear, tourism, transport services and creative industries.

These findings – and more – are based on trade and export potential analysis, detailed sector assessments and a survey of 1,175 businesses and business support organizations across Africa and the Caribbean.

Tapping into priority sectors

ITC Executive Director Pamela Coke-Hamilton (https://apo-opa.co/3WHHZMU), in launching the report, said: ‘At a time of major shifts in global trade, countries need to strengthen regional ties and invest in value addition, to build resilience. We know the major trade opportunities between Africa and the Caribbean – and now we can focus on helping businesses take advantage of those opportunities through better market intelligence, improved logistics and greater access to finance.’

Commenting on the report, Denys Denya, Senior Executive Vice President at Afreximbank, said: ‘Africa and the Caribbean must transform a shared history into shared prosperity. With our CARICOM office in Barbados, about $1 billion in approved transactions and a $5 billion regional financing commitment, Afreximbank is advancing this vision through financing, deposit mobilization under CENDEP, business links through the annual Afri-Caribbean Trade and Investment Forum, local-currency payments through CAPSS and creative-industry collaboration through CANEX. This report offers a practical roadmap to turn untapped potential into bankable opportunities across agribusiness, manufacturing, tourism and the creative economy. Through targeted financing, stronger transport and logistics links and strategic partnerships, we can build a Global Africa connected by heritage, trade, investment and shared opportunity.’

The report finds that businesses continue to face significant challenges, including high transport costs, limited direct shipping links, regulatory barriers, limited access to finance and difficulties in identifying trusted commercial partners. It highlights that future economic cooperation should extend beyond traditional trade in goods, including through joint investment ventures, digital services, creative industries and tourism. It also calls for targeted action to improve market intelligence and business matchmaking; expand access to trade finance and payment solutions; strengthen transport and logistics connectivity; support sector-specific value chain development; improve regulatory cooperation and market access; and foster stronger partnerships among business support organizations.

Read the full report HERE (https://apo-opa.co/4exHBH9)

Distributed by APO Group on behalf of Afreximbank.

 




 

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MSGBC Oil, Gas & Power 2026 Investment Track to Spotlight New Capital Opportunities

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Etu Energias

A high-level ministerial roundtable, a project development clinic and matchmaking sessions are set to drive partnerships across the MSGBC region

DAKAR, Senegal, November 3, 2026/APO Group/ –The MSGBC Oil, Gas & Power 2026 conference and exhibition, taking place from December 1–3 in Dakar, will introduce a dedicated Investment Track designed to deepen capital engagement across West Africa’s energy landscape. Building on the region’s expanding upstream activity, infrastructure development and cross-border integration, the track will serve as a platform where governments, investors and project developers can align on investment pathways across the MSGBC basin.

 




  

At the core of the Investment Track will be the Ministerial Leadership & Global Capital Roundtable, where energy ministers will convene to examine how enhanced regional cooperation, regulatory alignment and coordinated infrastructure development can accelerate capital flows into the sector. The session is expected to focus on the policy and financing frameworks required to unlock large-scale projects, including investment codes such as Mauritania’s 2025 reform, as well as strengthening fiscal incentives and improving regulatory clarity to attract capital into the energy sector.

The Investment Track is designed to move beyond dialogue and into deal facilitation, bringing together decision-makers who can directly shape the next phase of energy investment

For the first time at the MSGBC Oil, Gas & Power event, the Project Development Clinic will introduce a more technical format. In this small-group advisory setting, project developers, government representatives and investors will engage directly on project challenges. The clinic aims to improve project structuring, address financing bottlenecks and identify practical solutions to accelerate development timelines and move projects closer to final investment decisions.

The Investment Track will also feature structured Business-to-Business Matchmaking sessions designed to connect stakeholders across the energy value chain. These targeted engagements will facilitate discussions between investors, operators, service companies and public-sector institutions, enabling participants to explore partnerships and co-investment opportunities.

Together, these sessions reflect the MSGBC region’s broader shift toward investment-led growth. In Senegal, this momentum is already visible through the partnership between state-owned agencies APIX and COS-PETROGAZ to improve the business environment for energy projects and streamline investment processes. With PETROSEN advancing development work on the Yakaar-Teranga gas project and targeting a final investment decision in December 2026, alongside new exploration opportunities emerging onshore, the Investment Track will provide a platform to connect the region’s resource potential with investors and project developers.

“The Investment Track is designed to move beyond dialogue and into deal facilitation, bringing together decision-makers who can directly shape the next phase of energy investment across the region. By creating a space for investors, project developers and public-sector stakeholders to engage directly, the track will help turn investment priorities into concrete partnerships and project opportunities,” states Sandra Jeque, Events and Project Director, Energy Capital & Power.

Explore opportunities, foster partnerships and stay at the forefront of the MSGBC region’s oil, gas and power sector. Visit www.MSGBCOilGasAndPower.com to secure your participation at the MSGBC Oil, Gas & Power 2026 conference. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

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

 




 

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Afreximbank and partners bring together investors and industrialists in Benin to Accelerate local processing and investment in Special Economic Zones

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Afreximbank

Held under the theme “Investing in Local Processing and Industrialisation”, the forum brought together international investors, industrialists, buyers and development finance institutions to explore the vast opportunities for local processing and strategic partnerships offered by the GDIZ

COTONOU, Benin, November 3, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com), in partnership with the Société d’Investissement et de Promotion de l’Industrie (SIPI-BENIN S.A), the entity responsible for developing the Glo-Djigbé Industrial Zone (GDIZ), and Panafritex, hosted the Special Economic Zones Investment Forum (FocusSEZ 2026) on 21 and 22 October 2026 at the Sofitel Cotonou Marina Hotel and the GDIZ.

 




  

Held under the theme “Investing in Local Processing and Industrialisation”, the forum brought together international investors, industrialists, buyers and development finance institutions to explore the vast opportunities for local processing and strategic partnerships offered by the GDIZ.

Local processing at the heart of discussions

In his address, Mr Jean Arsene Yemina, Regional Director of Operations for Francophone West Africa at Afreximbank, speaking on behalf of Ms Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development, Afreximbank, highlighted the role of financing and industrial partnerships in transforming Africa’s raw materials into finished products:

“Here in Benin, textiles have become the driving force behind this transformation. The Glo-Djigbé Industrial Zone was established through a partnership between the Government of Benin and ARISE IIP, with Afreximbank proud to have contributed to financing its development.

“Here in Benin, the textile industry has become the driving force behind this transformation. The Glo-Djigbé Industrial Zone was created through a partnership between the Government of Benin and ARISE IIP, and Afreximbank is proud to have helped finance its establishment. Today, the zone is home to West Africa’s first fully integrated cotton-to-garment manufacturing platform, operated by Benin Textile (BTEX). The entire value chain, from ginning and spinning to weaving and finished garments, is carried out on African soil by African hands. Before the creation of the GDIZ, less than 1% of Benin’s cotton was processed locally. In just three years, the zone has come to process approximately 40,000 metric tons of cotton—nearly 12% of national production—and to produce millions of “Made in Benin” garments for major international brands such as US Polo, Kiabi, and H&M.”

He also highlighted similar efforts underway at the GDIZ to develop local processing in the cashew, soybean and shea value chains.

Mr Létondji Beheton, Director General of SIPI-BENIN S.A., emphasised the need to strengthen value addition across the continent:

“Our ambition can no longer be limited to producing and exporting raw materials. We must go further by processing more of these resources on our continent, developing competitive industries, strengthening our value chains and retaining a greater share of the wealth generated from our natural resources.”

He added: “It is against this backdrop that the Glo-Djigbé Industrial Zone (GDIZ) was established, as the outcome of a public-private partnership between the Republic of Benin and ARISE Integrated Industrial Platforms (ARISE IIP). This integrated industrial platform embodies a shared commitment to making local processing a driver of economic growth, job creation and industrial development.

“By attracting manufacturing facilities and developing integrated value chains, the GDIZ is helping transform raw materials into higher-value-added products, strengthen Benin’s industrial capacity and enhance its competitiveness in regional and international markets. In doing so, it is contributing to the development of a more diversified economy that generates wealth and creates sustainable opportunities for the country.”

Africa has significant potential to strengthen its position in the global textile industry

Mr Arvind Mathur, CEO of PANAFRITEX, highlighted the role of ARISE IIP’s textile platform in developing an integrated textile industry in Africa, capable of transforming the continent’s cotton into finished, high-value-added products.

“Africa has significant potential to strengthen its position in the global textile industry. Realising this ambition will require the development of integrated industrial capacities that can transform cotton grown on the continent into higher-value-added finished products, while enhancing the competitiveness of the sector and expanding its access to international markets.

“At PANAFRITEX, we are contributing to this momentum by developing a model that brings together industrial processing, business development and the promotion of finished products. Our own brands, Obalé and SúSú, are part of this approach, connecting Africa’s manufacturing capabilities with consumer markets.

“The commissioning of our first industrial facilities at the GDIZ in Benin marks a major milestone in the rollout of this model. At the same time, the development of new facilities in Cameroon, Kenya, Nigeria, Ghana and Tanzania reflects our ambition to progressively expand our industrial footprint across the continent.

“Through this expansion, we aim to contribute to strengthening Africa’s textile value chains, creating skilled jobs and ensuring that a greater share of the value generated is retained locally.”

Financing, Market Access and Business Networking

Discussions focused on the development of a new generation of African industrial hubs, the cotton value chain, financing for the textile industry, as well as logistics and integrated supply chains. The programme also featured business-to-business (B2B) and business-to-government (B2G) meetings with targeted public-sector institutions, aimed at identifying investment opportunities, financing solutions and potential business partnerships.

Afreximbank presented the range of financial instruments and support facilities it offers investors and businesses to facilitate the establishment and expansion of their industrial operations. These include long-term financing and equipment financing, trade finance and working capital facilities, guarantees and risk-sharing mechanisms, as well as project preparation support and equity investment through the Fund for Export Development in Africa (FEDA).

The Bank also highlighted its Africa Buyers Programme, which connects African buyers with manufacturers operating in industrial zones across the continent. The initiative aims to complement access to finance with market opportunities for products manufactured in Africa.

A full day was dedicated to a visit to the GDIZ, during which participants toured its infrastructure and industrial facilities and took part in business matchmaking sessions bringing together investors, manufacturers and buyers. These activities were designed to facilitate the establishment of new manufacturing facilities and expand sourcing opportunities for “Made in Benin” products, particularly in agribusiness, textiles, plastics, packaging and industrial equipment.

Across sectors ranging from agro-processing and textiles to plastics, packaging and industrial equipment, the overarching objective is to accelerate the establishment of new production facilities and strengthen the supply of quality-certified “Made in Benin” products.

An Integrated Model for Advancing Industrial Sovereignty

Covering 1,640 hectares, the Glo-Djigbé Industrial Zone (GDIZ) is the result of a strategic partnership between the Republic of Benin and ARISE Integrated Industrial Platforms. Designed as a comprehensive, integrated ecosystem, it supports investors across the entire value chain, from securing supplies of locally sourced agricultural and mineral raw materials to industrial processing and the export of finished products, leveraging its direct connectivity to the country’s logistics infrastructure and the Port of Cotonou.

By hosting this international forum, Benin is once again demonstrating its ability to offer an attractive business environment, an enabling regulatory framework and world-class infrastructure to help build the future of African industry.

Distributed by APO Group on behalf of Afreximbank.

 




 

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