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On February 11, 2025 Equatorial Guinea revitalized its upstream sector by planning a new licensing round in 2025 to boost exploration and production, ensuring long-term energy security and revenue generation amid declining output from mature fields. Under Minister Antonio Oburu Ondo’s leadership, the country aims to attract investment, new technologies, and opportunities for local and international players, building on the success of its 2019 round, which saw significant industry participation. Recent developments include Trident Energy’s successful production from the C-45 well, Chevron’s new PSCs for Blocks EG-06 and EG-11, and progress on the Gas Mega Hub’s next phases. Additionally, GEPetrol is advancing the Zafiro field’s revitalization with a multi-phase development plan and a $350 million technical services contract with Petrofac, reinforcing efforts to enhance production and operational efficiency.
On February 12, 2025, ADNOC Gas signed a 14-year Sales and Purchase Agreement (SPA) with Indian Oil Corporation (IndianOil) to export up to 1.2 million tonnes per annum (mtpa) of liquefied natural gas (LNG) to India. The agreement, valued between 7 billion and
9 billion, converts a prior Heads of Agreement into a long-term SPA, with deliveries set to begin in 2026. This deal strengthens the partnership between ADNOC Gas and IndianOil, supporting India’s goal of increasing gas to 15% of its primary energy mix by 2030. ADNOC Gas CEO Fatema Al Nuaimi emphasized the agreement as a reflection of the strong energy ties between the UAE and India, highlighting ADNOC Gas’ role as a reliable supplier of lower-carbon LNG.
The agreement aligns with ADNOC Gas’ strategy to expand its customer base, following several LNG deals signed over the past two years, ranging from 0.4 to 1.2 mtpa for periods up to 14 years. The LNG will be sourced from ADNOC Gas’ Das Island facility, which has a production capacity of up to 6 mtpa and has shipped over 3,500 cargoes globally since its inception. This deal reinforces ADNOC Gas’ position as a leading supplier of lower-carbon LNG to key Asian markets, including India.
On February 13, 2025 Mozambique is prioritizing the expansion of oil and gas exploration and production to drive industrialization and economic growth, as emphasized by Florival Mucave, Chairman of the Mozambique Energy Chamber, during the Invest in African Energies: Mozambique Roundtable.
Mucave highlighted that leveraging the country’s vast oil and gas resources is essential to eradicating poverty and boosting development, despite climate change challenges. NJ Ayuk, Executive Chairman of the African Energy Chamber, called for stronger public-private collaboration, local content prioritization, and resistance to the demonization of fossil fuels, urging Mozambique to harness its resources for empowerment. Milton Macuacua Zibane, Administrator of Mozambique’s Petroleum regulator, noted efforts to fast-track over $15 billion in planned projects to create jobs and spur economic growth, underscoring the nation’s commitment to utilizing its energy potential for sustainable development.
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