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2 clusters · 17 sources · 5 days · First seen · Last updated

Oil and gas sector activity in Nigeria and Angola

Overview

Upstream oil and gas activity is increasing in Nigeria and Angola, driven by new investments and deepwater developments.

In Nigeria, the Bonga Southwest/Aparo (BSWAp) deepwater project is moving closer to a Final Investment Decision following agreements between the Nigerian National Petroleum Company Limited (NNPC Ltd) and partners including Shell (SNEPCo), Esso (Deepwater), and Nigerian Agip Exploration (NAE). The project is expected to attract between $15 billion and $21 billion in investment. This progress follows the approval of the Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order, 2026, by President Bola Tinubu. Additionally, Nigeria has seen an increase in rig deployment, with the total rig count reaching 73 in March 2026, a 22.6 per cent increase from the previous year.

In Angola, the sector is entering a new production cycle focused on gas commercialization and deepwater exploration. Notable developments include the start of the country’s first non-associated gas project led by the New Gas Consortium, the commissioning of the Agogo FPSO, and progress on the Kaminho project, which is slated for production in 2028.

Entities

Nigerian National Petroleum Company Limited · Nigerian Ports Authority · Nigerian Upstream Petroleum Regulatory Commission · Shell Nigeria Exploration and Production Company Limited · Abubakar Dantsoho

Timeline

  1. 16 days ago

    [BUSINESS] 2 sources
    Angola and Nigeria see renewed upstream oil and gas activity

    Angola and Nigeria are seeing a resurgence in upstream oil and gas activity, driven by new gas projects, increased rig deployment, and major deepwater developments like the Bonga project.

  2. 20 days ago

    [BUSINESS] 16 sources
    Nigeria advances Bonga Southwest project and recovers power equipment

    NNPC Ltd and partners have signed agreements to advance Nigeria’s Bonga Southwest/Aparo deepwater project, targeting up to $21 billion in investment. Meanwhile, the NPA helped NDPHC recover stranded power gear.

Sources

blueprint.ng · businessamlive.com · businessday.ng · citybusinessnews.com · dailyreport.ng · dmarketforces.com · energyfocusreport.com · maritimetodayonline.com · oilandgastrendsmagazine.com · shipsandports.com.ng · socialnews.xyz · theabujainquirer.com · theglittersonline.com.ng · thenicheng.com · thewhistler.ng · thisdaylive.com · tribuneonlineng.com