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South Africa’s Upstream Petroleum Resources Development Act (UPRD Act): Can Legal Certainty Revive Major Investment After IOCs’ Exit?

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African Energy Chamber

South Africa’s new Upstream Petroleum Resources Development Act offers a fresh regulatory framework, but is it enough to bring supermajors back, or will independent players now dominate the landscape?

CAPE TOWN, South Africa, February 6, 2026/APO Group/ –The high‑profile exit of global energy major TotalEnergies from deepwater Blocks 11B/12B and 5/6/7 – home to the Brulpadda and Luiperd gas discoveries – was a significant setback for South Africa’s plans to use domestic resources to boost energy security and economic growth. TotalEnergies, together with partners QatarEnergy and CNR International, gave up their stakes after determining that the discoveries could not be commercially developed under the existing market conditions and regulatory framework.

 

The exits underscored long‑standing industry frustrations with South Africa’s legal and regulatory environment, widely seen as lacking the clarity and predictability that deepwater investors demand. That backdrop helps explain the government’s passage of the Upstream Petroleum Resources Development Act (UPRD Act) – a standalone legislative framework designed to replace the petroleum provisions embedded in the old Mineral and Petroleum Resources Development Act and provide a bespoke upstream regime.

At its core, the UPRD Act aims to accelerate exploration and production of South Africa’s petroleum resources by providing clear rules and stable rights for companies – key to attracting major investment. It combines exploration and production rights into a single petroleum right, sets out controlled licensing rounds, guarantees third-party access to infrastructure, and establishes the Petroleum Agency of South Africa as a clear regulatory authority. The law also promotes active participation by the State and previously disadvantaged South Africans, mandates local content, allows a share of output to be sold for strategic stock purposes, and separates oil and gas regulation from mining rules to reduce red tape and simplify operations.

Yet the big question remains: will this new legal certainty be enough to lure back the supermajors, or has the landscape shifted toward leaner, more aggressive independent companies seeking opportunities where majors have stepped away?

 It shows how regulatory reform is essential to restoring investor confidence

“Simply put, TotalEnergies’ exit was a blow to South Africa’s energy industry. These discoveries brought to light alternative energy solutions for a country plagued with a decade‑long energy crisis. However, without clear, predictable rules, even world‑class discoveries struggle to progress to commercial development. It shows how regulatory reform is essential to restoring investor confidence,” states NJ Ayuk, Executive Chairman of the African Energy Chamber.

The UPRD Act now provides that framework, but timing is crucial. The regulations needed to put the Act into practice are still being finalized, and until these rules – covering licensing, environmental safeguards and rights administration – are published and tested in early rounds, investor confidence is likely to remain cautious.

For supermajors, investment decisions are increasingly guided by a global strategy that prioritizes projects with clearer returns and lower regulatory risk. With growing pressure to meet climate targets and streamline their portfolios amid the energy transition, deepwater frontier projects in emerging markets are less appealing unless they come with clear, predictable terms.

This creates an opening for independent and smaller players. Companies like Africa Energy Corp. – which increased its stake in Block 11B/12B after the majors’ exit – could view South Africa’s upstream sector as a promising opportunity. With leaner cost structures and a greater tolerance for frontier risk, these players can advance projects that supermajors may avoid, potentially driving local value creation and technology transfer through a different investment model.

Looking ahead to African Energy Week (AEW) 2026 – the continent’s premier energy summit bringing together governments, investors and service companies – the UPRD Act is expected to be a central topic in discussions surrounding South Africa. AEW offers a high‑profile platform to showcase the country’s evolving policy landscape and could set the stage for the first post‑Act licensing round. Industry leaders are likely to debate whether the framework delivers on its promise of stability and what conditions might be needed to attract supermajors back.

Ultimately, South Africa’s upstream rebound will depend on execution: if the regulations foster transparency, competitive terms and confidence in governance, the UPRD Act could be a turning point. If not, the sector may settle into a new normal where ambitious independents, rather than supermajors, drive the next chapter of oil and gas development.

Distributed by APO Group on behalf of African Energy Chamber.

Energy

ExxonMobil’s Artificial Intelligence (AI) Breakthrough Signals New Era of Digital Exploration in Guyana Ahead of Caribbean Energy Week (CEW) 2027

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Etu Energias

As artificial intelligence transforms upstream decision-making, Guyana’s energy sector continues to attract investment and innovation ahead of the Caribbean Energy Week 2027 In-Country Launch in Georgetown on 1 September 2026

CAPE TOWN, South Africa, August 12, 2026/APO Group/ –ExxonMobil’s announcement that artificial intelligence has identified four new exploration opportunities within Guyana’s prolific Stabroek Block marks a significant milestone in the country’s digital transformation. By applying AI to historical discoveries, drilling results and subsurface data, the company is demonstrating how advanced analytics, machine learning, high-performance computing and next-generation seismic imaging can accelerate exploration, reduce costs and improve discovery success rates.

 

The breakthrough comes as Guyana targets crude oil production of 1.3 million barrels per day by 2027 and 1.7 million barrels per day by 2030, underscoring the growing role of digital technologies in maximizing resource development alongside continued investment in drilling and infrastructure.

Against this backdrop, the Caribbean Energy Week (CEW) 2027 Guyana In-Country Launch, taking place on 1 September 2026 at the Guyana Marriott Hotel in Georgetown, will bring together operators, technology providers, geoscience companies, investors and regulators to examine the latest developments shaping Guyana’s energy sector and build momentum ahead of CEW 2027 next July. Returning for its second edition, CEW provides a premier platform for advancing investment, showcasing new projects and highlighting the technologies driving the country’s next phase of upstream growth.

Momentum behind AI adoption continues to build. In May 2026, ExxonMobil Vice President of Exploration John Ardill confirmed the company was expanding its use of deep learning, machine learning and high-performance computing to analyze seismic data and identify hydrocarbon-bearing prospects that were previously more difficult to evaluate.

The company is simultaneously advancing an ambitious offshore drilling program. This month, ExxonMobil commenced new drilling activities in Guyana’s Exclusive Economic Zone, including the Whiptail development well and Rockhead-1 exploration well. Earlier this year, the company also sought environmental authorization for the Haimara gas-condensate development and has proposed a 35-well drilling campaign between 2028 and 2033, reinforcing confidence in Guyana’s long-term exploration potential.

These developments are creating growing opportunities for AI developers, digital technology providers, seismic specialists, engineering firms and oilfield service companies that can support increasingly data-driven exploration and field development activities.

As the first official milestone on the road to Caribbean Energy Week 2027, the Georgetown launch will provide a platform for industry leaders to examine the technologies, partnerships and investment strategies driving Guyana’s next phase of growth while strengthening collaboration across the Caribbean energy sector.

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

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South Africa’s Multi-Billion-Dollar Energy Transition Pipeline Takes Shape Ahead of African Energy Week (AEW) 2026

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African Energy Chamber

From LNG terminals and renewable energy corridors to hydrogen hubs and storage solutions, African Energy Week’s “Invest in South Africa” session will highlight the opportunities driving the country’s transition toward a more diversified and resilient energy future

CAPE TOWN, South Africa, August 11, 2026/APO Group/ –South Africa is undergoing one of the most significant transformations in its energy sector, as the country works to diversify its power mix, reduce reliance on coal and develop a more integrated energy system capable of supporting long-term economic growth. Combining electricity, natural gas, liquid fuels, hydrogen and energy storage, this evolving model is creating new opportunities for infrastructure development, industrial investment and public-private partnerships.

These developments will be explored during the “Invest in South Africa: Developing Integrated Energy Systems for an Inclusive and Resilient Energy Future” session at African Energy Week (AEW) 2026, where policymakers, investors and industry leaders will assess the commercial strategies, policy frameworks and financing models required to build a more flexible and diversified energy system.

The discussion comes as South Africa continues implementing its Just Energy Transition Partnership, a landmark initiative launched in 2021 that has mobilized an initial $8.5 billion commitment from international partners to support the country’s transition through investments in renewable energy, grid infrastructure, electric vehicles and green hydrogen. The program has since expanded discussions around blended finance mechanisms and private sector participation to accelerate project deployment.

South Africa’s energy transition represents one of the continent’s most significant investment opportunities

While renewable energy remains central to South Africa’s future power mix, gas infrastructure is expected to play an important role in providing flexibility as the country integrates increasing volumes of intermittent wind and solar power. The government’s Gas Master Plan and emerging gas policy framework aim to support the development of a domestic gas market while enabling new infrastructure investments.

Several major gas infrastructure projects are advancing as part of this strategy. At Richards Bay, the proposed Zululand Energy Terminal is being developed as South Africa’s first LNG import terminal and is expected to support Eskom’s planned 3,000 MW gas-to-power program, strengthening energy security and grid flexibility. Meanwhile, the Ngqura LNG terminal development at the Coega Special Economic Zone is progressing as a strategic gas import and regasification hub designed to support industrial users, independent power producers and future gas-to-power capacity. Together, these projects could establish critical infrastructure for South Africa’s emerging gas market while supporting industrial growth and the transition toward a more diversified energy system.

At the same time, the country is positioning itself as a potential global player in green hydrogen. Projects such as Sasol’s Boegoebaai green hydrogen development in the Northern Cape and the proposed Boegoebaai Special Economic Zone are targeting large-scale renewable-powered hydrogen production, with ambitions to develop export opportunities and create new industrial value chains.

The “Invest in South Africa” session will examine how the country can integrate gas, renewables, hydrogen and storage into a resilient energy system while managing the transition away from coal. Discussions will focus on investment pathways, infrastructure priorities and the partnerships required to deliver reliable power and inclusive economic growth.

“South Africa’s energy transition represents one of the continent’s most significant investment opportunities, but success will depend on building an energy system that delivers reliability, affordability and growth,” says NJ Ayuk, Executive Chairman of the African Energy Chamber. “By bringing together investors, policymakers and industry leaders, AEW 2026 will help advance the partnerships needed to transform South Africa’s energy ambitions into practical projects that benefit the economy.”

As South Africa reshapes its energy landscape, AEW 2026 will provide a platform for stakeholders to identify opportunities across gas, power, renewables, hydrogen and infrastructure – helping define the next chapter of the country’s energy future.

Distributed by APO Group on behalf of African Energy Chamber.

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Energy

Sonangol’s Sebastião Gaspar Martins Joins Angola Oil & Gas (AOG) 2026 as Angola’s Hydrocarbon Strategy Takes Shape

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As Angola’s national oil company expands its position across upstream production, refining and infrastructure, Sonangol Chairman Sebastião Gaspar Martins will join AOG 2026 to discuss the company’s role in driving the country’s next phase of investment

LUANDA, Angola, August 11, 2026/APO Group/ –Sebastião Gaspar Martins, Chairman of the Board of Angola’s national oil company (NOC), Sonangol, will speak at the Angola Oil & Gas (AOG) 2026 Conference & Exhibition, taking place in Luanda on September 9-10, with a pre-conference day on September 8. Martins joins the conference as Sonangol advances a portfolio of strategic projects spanning deepwater production, refining and petroleum infrastructure, reinforcing the company’s central role in Angola’s efforts to sustain oil output while strengthening domestic fuel security.

Sonangol is expanding its upstream portfolio through partnerships with leading international operators. In June 2026, the company joined Azule Energy (operator), Equinor and national concessionaire ANPG in reaching a final investment decision on the $5.1 billion Greater PAJ development in Blocks 31 and 31/21. Angola’s first integrated development spanning two blocks, the project will develop an estimated 252 million barrels of reserves through a new FPSO capable of producing 95,000 barrels per day (bpd), with first oil targeted for 2029.

Alongside operator TotalEnergies and Petronas, Sonangol is also advancing the Kaminho project, the first deepwater development in the Kwanza Basin. The project will monetize resources from the Cameia and Golfinho fields through an FPSO with a production capacity of 70,000 bpd, with first oil planned for 2028. In Angola’s shallow waters, Sonangol is leading an infill drilling campaign at Blocks 3/05 and 3/05A. Drilling of the Pacassa SW well is underway, with the Impala-2 development well scheduled to spud shortly thereafter.

Onshore, Sonangol is advancing exploration activities across several blocks. The company operates Blocks KON 11, 12 and 15 in the Kwanza Basin and holds interests in acreage in the Lower Congo Basin. In June 2026, its exploration and production strategy received a significant boost through a $2.65 billion financing package arranged by a syndicate of international lenders.

Sonangol is also playing a leading role in Angola’s downstream expansion. The first phase of the Cabinda Refinery was inaugurated in September 2025, marking an important step toward reducing the country’s dependence on imported petroleum products. The refinery has a planned processing capacity of 60,000 bpd, with Sonangol holding a 10% stake. Attention is also turning to the Lobito Refinery, where the company is engaging international financiers to close a $4.8 billion funding gap. Once completed, the 200,000-bpd facility will be Angola’s largest refinery, with its first phase scheduled to come online in 2027.

Against this backdrop, Martins’ participation at AOG 2026 comes as Sonangol accelerates investment across the upstream and downstream value chain. His participation will provide delegates with insight into the company’s strategic priorities while highlighting opportunities for collaboration with international operators, investors and financiers supporting Angola’s next phase of energy development.

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

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