oil-gas
25 December 2025
Oilfield Technologyoil-gas
Dec 25, 2025Oilfield Technology
Africa requires an estimated US$375 billion over the next 10 to 12 years to adequately fund upstream and midstream gas development across the continent, according to non-profit organisation the Society of Petroleum Engineers (SPE).
According to Dr. Riverson Oppong, Africa Director, SPE, who spoke during a workshop at this year’s MSGBC Oil, Gas & Power 2025 conference and exhibition – hosted by SPE Senegal – Africa is on track to support increased investment through integrated national gas master plans, bankable contractual frameworks, robust infrastructure and institutional capacity building.
“Africa is a gas market,” Dr. Oppong stated. “But at the same time, despite our immense potential – holding 8% of global reserves – we don’t participate on the global stage. Our constraint lies in policy, commercial frameworks, infrastructure and financing conditions.”
“Our aim is to foster technical discussions between the oil and gas players in Senegal and across Africa,” added Dr. Rose Ndong, Dakar Section Chair, SPE.
During the presentation, global technology company SLB noted that digital technology investment can improve exploration and drilling, enhance production efficiency and optimisation, and improve supply chain optimisation and resilience.
IoT, analytics and AI were highlighted as key enablers to improve Africa’s upstream value chain, enabling real-time monitoring, predictive maintenance, enhance decision-making and improved safety and environmental compliance.
“Data is a key focus-area for improving the upstream value chain in Africa,” stated Larry Velasco, Africa New Venture Manager, SLB. “The cost of bad data can result in the loss of approximately 15 - 25% of revenue for most companies.”
SLB indicated that oil and natural gas demand is expected to grow by approximately 20% by 2050. This comes on the back of key oil and gas discoveries across the continent in 2025, with 17 high impact wells having been completed this year.
“Energy demand is rising rapidly, and Africa’s oil and gas industry requires a rapid deployment of investment in order to offset declines and meet peak demand,” stated Paul Freeman, Global Exploration Advisor, SLB.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/24122025/africa-needs-us375-billion-to-develop-natural-gas-sector-says-society-of-petroleum-engineers-spe/
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Africa Needs Us$375 Billion To Develop Natural Gas Sector, Says Society Of Petroleum Engineers (Spe)Africa requires an estimated US$375 billion over the next 10 to 12 years to adequately fund upstream and midstream gas development across the continent, according to non-profit organisation the Society of Petroleum Engineers (SPE).
According to Dr. Riverson Oppong, Africa Director, SPE, who spoke during a workshop at this year’s MSGBC Oil, Gas & Power 2025 conference and exhibition – hosted by SPE Senegal – Africa is on track to support increased investment through integrated national gas master plans, bankable contractual frameworks, robust infrastructure and institutional capacity building.
“Africa is a gas market,” Dr. Oppong stated. “But at the same time, despite our immense potential – holding 8% of global reserves – we don’t participate on the global stage. Our constraint lies in policy, commercial frameworks, infrastructure and financing conditions.”
“Our aim is to foster technical discussions between the oil and gas players in Senegal and across Africa,” added Dr. Rose Ndong, Dakar Section Chair, SPE.
During the presentation, global technology company SLB noted that digital technology investment can improve exploration and drilling, enhance production efficiency and optimisation, and improve supply chain optimisation and resilience.
IoT, analytics and AI were highlighted as key enablers to improve Africa’s upstream value chain, enabling real-time monitoring, predictive maintenance, enhance decision-making and improved safety and environmental compliance.
“Data is a key focus-area for improving the upstream value chain in Africa,” stated Larry Velasco, Africa New Venture Manager, SLB. “The cost of bad data can result in the loss of approximately 15 - 25% of revenue for most companies.”
SLB indicated that oil and natural gas demand is expected to grow by approximately 20% by 2050. This comes on the back of key oil and gas discoveries across the continent in 2025, with 17 high impact wells having been completed this year.
“Energy demand is rising rapidly, and Africa’s oil and gas industry requires a rapid deployment of investment in order to offset declines and meet peak demand,” stated Paul Freeman, Global Exploration Advisor, SLB.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/24122025/africa-needs-us375-billion-to-develop-natural-gas-sector-says-society-of-petroleum-engineers-spe/
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25 December 20252 min readAfrica Needs Us$375 Billion To Develop Natural Gas Sector, Says Society Of Petroleum Engineers (Spe)
Oilfield Technology
25 December 2025
oil-gas
Adnoc, Eni And Pttep Secures Structured Financing Of Up To $11 Billion For Hail And Ghasha Gas DevelopmentAbu Dhabi National Oil Company (ADNOC) P.J.S.C. (“ADNOC”), in partnership with Eni S.p.A. (“Eni”) and PTT Exploration and Production Public Company Limited (“PTTEP”), announced the successful signing of a landmark structured financing transaction of up to $11 billion (AED 40.4 billion), to monetize Hail and Ghasha’s midstream future gas production.
Hail and Ghasha is part of the larger Ghasha Concession, located offshore Abu Dhabi, which is expected to produce 1.8 billion standard cubic feet per day (bscfd) of gas. It is also the world’s first offshore gas project of its kind that aims to operate with net zero emissions, capturing 1.5 million tonnes per year (mtpa) of carbon dioxide (CO2), equivalent to removing over 300,000 cars off the road every year.
The non-recourse financing transaction, unique for an energy project of this scale and complexity, enables ADNOC to realize upfront value for its products at competitive rates. In addition to providing immediate access to capital, the financing structure introduces an innovative commercial model that ring-fences midstream processing facilities and operations, which enables ADNOC and its partners to raise low-cost funding while retaining strategic and operational control of the assets. This financing transaction is the latest in a series of ADNOC-led pioneering infrastructure development partnerships that have been executed over the past decade.
ADNOC’s latest financing model follows a series of landmark midstream and infrastructure transactions, including a $4.9 billion (AED18 billion) oil pipeline partnership, and a $10.1 billion (AED 37.1 billion) gas pipeline agreement, with some of the world’s leading global infrastructure and institutional investors – as well as pioneering build-own-operate-transfer (BOOT) projects such as the $3.8 billion (AED14 billion) project to power and decarbonize offshore operations and the $2.2 billion (AED8.3 billion) project to deliver sustainable water supplies to onshore operations.
The innovative financing structure for Hail and Ghasha offers a replicable model for large-scale greenfield projects. The transaction is anchored by ADNOC’s reliability as an upstream developer and long-term offtaker, as well as its efficient capital management and innovative financing track record. It also provides financiers with robust long-term cash flows from high-quality assets, supported by strong contractual and structural protections.
Saudi Gulf Projects
oil & gas
19 December 20252 min readAdnoc, Eni And Pttep Secures Structured Financing Of Up To $11 Billion For Hail And Ghasha Gas Development
Saudi Gulf Projects
19 December 2025
oil-gas
Japex Secures Dj Basin Tight Oil Assets In $1.3-Billion Verdad DealJapan Petroleum Exploration Co., Ltd. (JAPEX) has approved the acquisition of U.S. tight oil and gas assets through the purchase of all equity interests in Verdad Resources Intermediate Holdings LLC, marking a significant expansion of its North American upstream portfolio.
The transaction will be executed via Peoria Resources Acquisition Company, LLC, an overseas subsidiary managed by Peoria Resources, LLC. Closing is expected around the end of February 2026, subject to customary conditions.
The acquired assets are located primarily in the Denver-Julesburg basin in northeastern Colorado, with additional interests in southeastern Wyoming. JAPEX said the assets will be operated directly and are expected to materially strengthen its production and reserves base, with net production projected to approximately double and proved reserves to increase by roughly threefold.
Following completion of the acquisition, Peoria Resources will lead production and development activities, establishing an operator-led business in the U.S. tight oil and gas sector. JAPEX plans to staff the operation with approximately 50 personnel, including existing Peoria employees and operational staff transitioning from the seller.
JAPEX intends to pursue continuous development of the assets beginning in 2026 and extending into the early 2030s. Management roles for the U.S. operations include industry veterans with experience at BP and other North American E&P companies.
The acquisition aligns with JAPEX’s strategy to expand its upstream footprint in North America and leverage operational expertise gained through prior U.S. projects. The company also indicated that the assets could support future growth opportunities, including gas development and potential collaboration with LNG projects, as well as the application of subsurface and carbon capture expertise developed in other regions.
JAPEX said the transaction strengthens its long-term earnings base while supporting disciplined growth in established U.S. unconventional basins.
World Oil
oil & gas
19 December 20252 min readJapex Secures Dj Basin Tight Oil Assets In $1.3-Billion Verdad Deal
World Oil
19 December 2025
oil-gas
Adnoc Secures $11 Billion Financing For Offshore Gas Development(Bloomberg) – The biggest oil producer in the United Arab Emirates secured $11 billion in funding tied to future gas production from fields offshore in Abu Dhabi.
Abu Dhabi National Oil Co. and its peers are ramping up output of both oil and gas, even as analysts warn of looming supply gluts. Adnoc, however, says long-term demand for the fuels remains robust and will require significant investment.
The Hail and Ghasha projects are expected to produce about 1.8 Bscf/d when they come online by the end of this decade. The financing was arranged along with partners including Italy’s Eni SpA and Thailand’s PTT Exploration & Production Pcl, according to a statement on Thursday.
The financing was arranged by more than a dozen banks, including Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank and Agricultural Bank of China. Citigroup Inc., Standard Chartered Plc and the UAE’s largest lenders First Abu Dhabi Bank and Emirates NBD also participated in the financing package.
ADNOC last month announced a five-year, $150 billion capital-expenditure budget, in line with its previous spending plan. Much of that will go to boosting crude-output capacity to 5 MMbpd by 2027, an increase of about 25% since the expansion began. The company is also accelerating spending on natural gas as the UAE aims to become self-sufficient by the end of the decade.
ADNOC now holds an 80% stake in the Ghasha gas concession after former partner Lukoil PJSC transferred its 10% share in November, according to a spokesperson.
The U.S. has threatened to sanction companies that do business with Lukoil because of Russia’s continued war in Ukraine, prompting the Russian firm to shed overseas assets. ADNOC is among the companies interested in acquiring all or part of Lukoil’s international portfolio, Bloomberg has reported.
World Oil
oil & gas
19 December 20252 min readAdnoc Secures $11 Billion Financing For Offshore Gas Development
World Oil
19 December 2025
oil-gas
Uganda Seeks Stake In Kenya Oil Pipeline Via $2 Billion Vitol-Backed LoanThe Ugandan government plans to use a portion of a proposed $2 billion loan backed by global oil trader Vitol to acquire a stake in the Kenya Pipeline Company (KPC), according to a finance ministry brief submitted to parliament.
The move comes as Kenya prepares to divest up to 60% of the state-owned pipeline operator through an initial public offering (IPO).
Kenyan President William Ruto recently confirmed the privatisation drive, which aims to raise approximately KES 60 billion ($460 million) while maintaining a strategic government interest.
In the request to lawmakers, Uganda’s Ministry of Finance stated that the borrowing would support critical oil-sector investments, giving Uganda a stake in the energy infrastructure has long relied on for fuel imports via Kenya’s Mombasa port.
Beyond the KPC acquisition, the funds are earmarked for expanding fuel storage, pipeline infrastructure, and refinery projects.
The state-owned Uganda National Oil Company (UNOC) will undertake the borrowing. Repayments are expected to be secured against revenues from fuel sales and upcoming oil-related projects as Uganda prepares to begin crude production later this decade.
KPC operates more than 1,700 miles of pipeline linking the port of Mombasa to Nairobi and western Kenya. The network is vital to Uganda’s energy security, currently handling roughly 90% of the country’s petroleum imports.
President Ruto has encouraged East African participation in the IPO, framing the pipeline as a "regional facility."
"I want to encourage Ugandans and East Africans to equally invest," Ruto said during a recent visit to eastern Uganda, noting that shares would be available to both public entities and private citizens across the region.
The acquisition aligns with a broader push for regional infrastructure co-ownership. Finance officials noted that holding a stake in KPC would grant Uganda greater control over its fuel supply logistics at a time when global financing for fossil fuel projects has tightened due to the energy transition.
Pipeline Technology Journal
oil & gas
18 December 20252 min readUganda Seeks Stake In Kenya Oil Pipeline Via $2 Billion Vitol-Backed Loan
Pipeline Technology Journal
18 December 2025
oil-gas
Nigeria Approves 28 Firms To Capture Gas Lost To Flaring, Targets $2 Billion Investment(Bloomberg) — Nigeria has granted permits to 28 firms to buy gas currently being burned off by the oil industry, as the West African nation seeks to cut emissions and earn revenue from a resource otherwise going to waste.
Nigerian Upstream Petroleum Regulatory Commission head Gbenga Komolafe said there were a total of 42 bids to harvest gas being flared at 49 sites in the oil-producing Niger Delta region, with the remaining 14 candidates still to meet the requirements for a permit.
“Between 250 and 300 million standard cubic feet of gas will be captured and commercialized,” under the initiative, Komolafe told an event in Abuja, the capital on Friday.
He said the move — part of a wider effort to curb Nigerian emissions to net zero by 2060 — will help attract up to $2 billion in investment and create more than 100,000 direct and indirect jobs.
The NUPRC estimated that the initiative will eliminate roughly six million tons of carbon dioxide annually and support nearly three gigawatts of potential electricity generation capacity.
Africa’s largest crude producer is estimated to have larger gas reserves than it has oil, but gas is routinely burned off during the oil production process because it’s not been commercially viable to utilize. The government wants to change this by providing incentives to the industry via the Nigerian Gas Flare Commercialization Program.
Nigeria’s gas output stood at about 221 billion standard cubic feet of gas in October, with about 7.6% of it flared according to information on the website of the NUPRC.
World Oil
oil & gas
13 December 20252 min readNigeria Approves 28 Firms To Capture Gas Lost To Flaring, Targets $2 Billion Investment
World Oil
13 December 2025
oil-gas
Gascade Puts 400 Kilometers Of Hydrogen Core Network Into OperationGASCADE Gastransport GmbH (GASCADE) has reached a decisive milestone in building the German hydrogen network: about 400 kilometers of existing natural gas pipelines have been successfully converted to transport hydrogen. The initial filling of the first pipeline sections as part of the program Flow – making hydrogen happen establishes a North-South axis from the Baltic Sea region to Saxony-Anhalt, forming a central part of the German hydrogen core network. The hydrogen infrastructure is now available to the market and thus provides the basis for a successful hydrogen ramp-up.
This internationally unique project demonstrates how existing infrastructure can be quickly and cost-effectively transformed for hydrogen transport. GASCADE thereby creates planning security for the hydrogen ramp-up and makes a significant contribution to reducing CO₂ emissions in German industry. Managing Director Ulrich Benterbusch emphasizes the technical dimension and resulting opportunities: “With the successful conversion of 400 kilometers of pipeline, we reliably provide large-scale and central hydrogen infrastructure. Converting existing natural gas pipelines with a diameter of 1.4 meters to hydrogen is a technical pioneering achievement. This project is a strong signal for the German hydrogen economy and the industrial location of Eastern Germany.”
Managing Director Christoph von dem Bussche highlights the potential and the European perspective: Flow – making hydrogen happen is more than a technical project. It is a promise for the future. In 2025 we are creating the conditions to receive hydrogen from the European Baltic Sea region, international hydrogen imports via the port of Rostock, as well as green hydrogen produced on the Baltic coast – especially at the Lubmin site. From the get-go, we are considering the connection to our European neighbors. Because only together can we succeed in building a strong cross-border hydrogen economy.”
The now operational part of Flow – making hydrogen happen is the first step toward further core network connections to industrial hubs in southern Germany by 2029. As part of the program, additional pipelines to Poland, the Czech Republic, and also toward Bavaria and Austria will be converted or newly built. Additional information can be found at www.flow-hydrogen.com.
Pipeline Technology Journal
oil & gas
12 December 20252 min readGascade Puts 400 Kilometers Of Hydrogen Core Network Into Operation
Pipeline Technology Journal
12 December 2025
oil-gas
Pipeline Leak Spills 200,000 Litres Of Oil In German FarmlandEmergency crews have completed the cleanup of a pipeline leak that spilt at least 200,000 litres (about 53,000 gallons) of crude oil onto farmland in the state of Brandenburg, north of Berlin.
The leak in the pipeline, which transports oil from the Baltic Sea port of Rostock to the Schwedt refinery, occurred on Wednesday evening near the village of Gramzow during what officials described as a workplace accident.
A spokesman for regional emergency coordination confirmed that firefighters concluded their operation between 2 a.m. and 3 a.m. local time.
The Schwedt fire brigade reported that the oil initially shot several meters into the air from a small leak at a pumping station before settling on the adjacent agricultural land.
Refinery operator PCK said preliminary findings indicate the incident was caused by preparatory work for a scheduled safety test on the pipeline, ruling out any deliberate interference.
Alexander Trenn, head of the Schwedt fire brigade, told German news agency dpa that crews successfully removed all visible spillage. He noted that special suction vehicles and heavy machinery were used to collect the significant quantity of oil and contain its spread.
Roughly 100 firefighters and 25 PCK employees were involved in the overnight response, with PCK now responsible for handling the subsequent environmental remediation efforts.
Brandenburg’s environment minister, Hanka Mittelstädt, was expected to visit the site on Thursday to assess the extent of the damage to the affected countryside.
Pipeline Technology Journal
oil & gas
12 December 20252 min readPipeline Leak Spills 200,000 Litres Of Oil In German Farmland
Pipeline Technology Journal
12 December 2025
oil-gas
Iraq: Dno Charges Past 500 Million Barrels In Kurdistan And Picks Up SpeedDNO, the Norwegian oil and gas operator, has announced it is revving up operations in the Kurdistan region of Iraq as it charges past a major milestone marking 500 million barrels of oil produced from the Tawke license (DNO 75 percent and operator).
Drilling will restart at the flagship license next week following a two-and-a-half-year spending hiatus with the spud of a new production well targeting the shallow Jeribe reservoir in the Tawke field. Two rigs, the 'DQE-51' and the DNO-owned 'Sindy', have been mobilized to drill eight wells on the license through 2026 as the Company targets a 25 percent increase in gross operated production to 100,000 barrels of oil per day. The Tawke license contains the Tawke and Peshkabir fields, two of the region’s largest operated by an international oil company.
'Despite halting new drilling following the 2023 export pipeline closure and the drop in revenues, we are still pumping an impressive 80,000 barrels of oil per day with continuous, low-cost tweaks to the wells,' said Executive Chairman Bijan Mossavar-Rahmani. 'Given two decades of experience working these complex reservoirs, we have great confidence in our ability to extract much, much more oil from the fields in this license,' he said, adding, 'DNO holds the key to Tawke.'
The first Western company to enter Kurdistan in 2004, DNO kick-started a modern oil industry that has transformed the region’s economy. Along the way, the Company has catapulted into the ranks of the largest European-listed exploration and production companies with the successful reentry into its home surf offshore Norway where the Company is on track to exit 2025 with net production of 90,000 barrels of oil and gas equivalent. As in Kurdistan, DNO is now one of the most dynamic players on the Norwegian Continental Shelf, spearheading an industry campaign to 'get off the sofa' and significantly reduce time from discovery to production.
Original announcement link
Source: DNO
Energypedia News
oil & gas
12 December 20252 min readIraq: Dno Charges Past 500 Million Barrels In Kurdistan And Picks Up Speed
Energypedia News
12 December 2025
oil-gas
Us: Northern Oil And Gas Announces $1.2 Billion Joint Acquisition With Infinity Natural ResourcesHIGHLIGHTS
Northern Oil and Gas (NOG) has entered into a definitive agreement to acquire a 49% stake in Ohio Utica Shale Assets in partnership with Infinity for a purchase price, net to NOG, of $588.0 million in cash, subject to customary closing adjustments.
UPSTREAM ASSETS
The Acquired Assets are located in the Utica shale of eastern Ohio and include approximately 35,000 net acres with over 100 gross identified undeveloped locations.
The acquired upstream asset is one of the few remaining growth assets in the core of the Utica that can support a full rig development pace for multiple years. The upstream asset has an expected 2026 production, net to NOG, of ~65 MMcfe per day (2-stream, 92% gas) for 2026 with a 30%+ compound annual growth rate in production through the end of the decade, assuming a development plan with a continuous one rig program. The upstream asset represents a ~43% working interest net to NOG. In addition, the asset features a low PDP decline rate of ~15% in the next twelve months, falling to ~13% over the next several years. The asset is expected to generate ~$100MM in unhedged cash flow from operations net to NOG in 2026 at recent strip prices with ~19% generated by the midstream assets. The substantial growth expected on the assets on a go-forward basis is based on an average annual capital program of ~$100 million at a single rig cadence.
MIDSTREAM ASSETS
Captive midstream offers opportunity to drive best in class margins with limited incremental midstream growth-capital required. The midstream system has been built to accommodate a peak historical gross level of ~600 MMcfe per day. Significant midstream infrastructure with 140 miles of pipe supporting low- and high-pressure gathering, compression and 90 miles of water delivery systems. The Acquired Assets are positioned to realize improved pricing via direct connections to premium out of basin markets via the Tallgrass Rex pipeline.
The midstream system has ample capacity at regional processing plants (MPLX/Blue Racer) to grow future volumes and provides optionality across phase windows driven by both a rich and dry gas system. Midstream cash flows are expected to grow by 75% by 2028. NOG also believes that third party volume opportunities exist over time driving higher throughput and generating fee-based revenue, creating further upside.
Upon closing and transition of services, Infinity will be the operator of substantially all of the assets, with NOG participating in development pursuant to cooperation and multi-year joint development agreements entered into in connection with the acquisition.
The effective date for the transaction is July 1, 2025, and closing is expected by the end of the first quarter of 2026. Due to the effective date, NOG expects to receive a material downward closing purchase price adjustment. In connection with signing, NOG is placing a $58.8 million deposit in escrow. The obligations of the parties to complete the acquisition are subject to satisfaction or waiver of customary closing conditions.
MANAGEMENT COMMENTS
'NOG is singularly focused on executing transactions that add value to our platform for the long-term. We are extremely pleased to be partnering with Infinity on one of the last growth assets in the core of the Utica. The vertical integration of this asset adds an incremental dimension of value creation for shareholders and enhances resiliency with lower breakevens to generate free cash flow through cycle,' commented Nick O’Grady, NOG’s Chief Executive Officer. 'The Utica has emerged as one of the target rich natural gas plays in the United States. Infinity has already been a strong operating partner for NOG, and we share their focus on creating value. Our alignment in that vein sets the ground for a successful partnership, and we look forward to working together to achieve our mutual desire to generate returns for our respective investors. This transaction is now the largest we have done to date and is an excellent addition to our Appalachian portfolio, offering the benefit of an integrated midstream and a long-term, visible growth path well past the end of the decade.'
'This Utica transaction exemplifies the intersection where NOG shines – identifying and acquiring best in class assets with the potential for significant long-term upside while also providing valuable capital to like-minded operators seeking to expand their footprint,' commented Adam Dirlam, NOG’s President. 'These assets epitomize our returns-focused strategy: delivering immediately while offering significant growth potential further enhancing NOG’s optionality. Importantly, like our precedent joint development transactions, we have devised an aligned, conservative development and governance plan with a proven E&P company. We continue to be the partner of choice for our operators as the largest, best capitalized and most dependable non-op working interest owner in the United States.'
ADVISORS
Moelis & Company served as financial advisor to NOG for the acquisition.
Gibson, Dunn & Crutcher LLP is serving as legal counsel to NOG for the acquisition.
Original announcement link
Source: Norther Oil and Gas
Energypedia News
oil & gas
11 December 20255 min readUs: Northern Oil And Gas Announces $1.2 Billion Joint Acquisition With Infinity Natural Resources
Energypedia News
11 December 2025
oil-gas
Spe Warns Africa Needs $375 Billion To Scale Natural Gas DevelopmentAfrica will require an estimated $375 billion in investment over the next 10 to 12 years to fully develop its natural gas resources and meet rising domestic and export demand, according to the Society of Petroleum Engineers (SPE).
The estimate was presented by Dr. Riverson Oppong, Africa Director at SPE, during a workshop at the MSGBC Oil, Gas & Power 2025 conference in Senegal. Despite holding roughly 8% of global natural gas reserves, Africa remains underrepresented in global gas markets due to policy constraints, infrastructure gaps and limited access to financing, SPE said.
“Africa is a gas market,” Oppong said. “But despite our immense potential, we don’t participate meaningfully on the global stage. The constraints are policy, commercial frameworks, infrastructure and financing conditions.”
SPE noted that several countries are working to address these challenges through integrated gas master plans, improved contractual terms and stronger institutional capacity. However, large-scale upstream and midstream investment will be required to translate recent discoveries into sustained production growth.
According to industry data shared at the event, 17 high-impact exploration wells were completed across Africa in 2025, reinforcing expectations of continued upstream activity. SLB representatives said oil and natural gas demand on the continent is expected to increase by about 20% by 2050, driven by population growth, industrialization and power demand.
SLB highlighted digital technologies as a key lever for improving exploration success, drilling efficiency and production optimization across African assets. Technologies including IoT, advanced analytics and artificial intelligence were cited as tools to enhance real-time monitoring, predictive maintenance and operational decision-making.
“Data is a key focus area for improving the upstream value chain in Africa,” said Larry Velasco, Africa New Ventures Manager at SLB, noting that poor data quality can result in revenue losses of 15% to 25% for operators.
Paul Freeman, Global Exploration Advisor at SLB, added that rising energy demand underscores the urgency of new investment.
“Energy demand is increasing rapidly, and Africa’s oil and gas industry requires accelerated capital deployment to offset decline and meet peak demand,” Freeman said.
SPE said continued collaboration between operators, service companies, governments and financial institutions will be critical to unlocking Africa’s gas potential and advancing long-term energy security across the continent.
Image provided by APO Group on behalf of Energy Capital & Power.
World Oil
oil & gas
11 December 20252 min readSpe Warns Africa Needs $375 Billion To Scale Natural Gas Development
World Oil
11 December 2025
oil-gas
Ge Vernova Expects 80 Gw Of Gas Turbine Contracts By Year'S EndGE Vernova expects 80 gigawatts (GW) of signed combined-cycle gas turbine contracts by the end of the year as electricity demand from Big Tech's data centers ramps up, the manufacturer of power-generation equipment said on Tuesday.
As U.S. power demand reaches record highs due to the proliferation of energy-intensive data centers supporting artificial intelligence (AI) initiatives, demand for turbines and other equipment to produce electricity from natural gas has increased.
GE Vernova has sold out of its gas turbines through 2028 and has less than 10% left to sell the following year, CEO Scott Strazik said at a conference for investors.
On the prospect of AI-related investments developing into a bubble, Strazik said he didn’t see signs of any slowdown.
“What we’re seeing in the fourth quarter, and into 2026, is accelerating growth in demand,” he said. “Orders in the fourth quarter growing materially from hyperscalers.”
Going forward, data centers are expected to account for about a third of the Massachusetts-based company's gas-power transactions in the U.S., Strazik said.
So far this quarter, GE Vernova has signed 18 GW of gas power contracts, the company said, compared to 8 GW in the first three months of the year.
Some of the biggest obstacles include state and local permitting for power plants and the availability of fuel pipelines, which typically face problems being built across states.
Gas Processing and LNG
oil & gas
11 December 20252 min readGe Vernova Expects 80 Gw Of Gas Turbine Contracts By Year'S End
Gas Processing and LNG
11 December 2025
oil-gas