According to operator Rhino Resources, this is the first of two back-to-back wells; further activities could follow depending on the results.

The location is in 1,400 m of water in PEL 85. Drilling of the initial well should last about 45 days.

To the west is the Shell-operated PEL 39. The Galp-operated PEL 83 to the northwest contains the giant Mopane oil discovery drilled earlier this year and recently appraised.

Despite the proximity to these prospective areas, Rhino and its partners are looking to test different elements of the play fairway in an updip position within the basin.

EXCEED, which oversaw the drilling of the recent Galp wells, is supporting Rhino’s drilling team.

Azule Energy, the joint E&P venture in Angola between bp and Eni, has gained approvals to farm into PEL 85 with a 42.5% interest, identical to Rhino’s share. The other partners are NAMCOR (10%) and Korres Investments (5%).

Post completion of the transaction, the contractor group now consists of Rhino Resources Namibia Ltd. (operator, 42.5%), Azule Energy Exploration Angola (KB) Ltd. (42.5%), NAMCOR Exploration and Production (Proprietary) Ltd. (10%), and Korres Investments (Pty) Ltd. (5%).

Rhino will operate during the exploration phase, with Azule having the option to take over as operator if development follows.

The partnership combines their technical expertise and proven track records to drive the growth of a highly competitive gas portfolio.

Arcius Energy, initially to operate in Egypt, includes interests assigned by BP across two development concessions, as well as exploration agreements.

H.E. Dr. Sultan Ahmed Al Jaber, executive chairman of XRG, said: “The formation of Arcius Energy marks an exciting new chapter in our long-standing partnership with bp and fully aligns with XRG’s objectives to accelerate the transformation of energy systems and build a world-scale integrated gas and chemicals portfolio to meet rising global demand. This progressive partnership will unlock a lower-carbon transition fuel to build a future where smarter, cleaner, and more affordable energy is accessible for Egypt and the world.”

Murray Auchincloss, chief executive of BP, added: “Arcius Energy brings together the strengths of our two companies to create a dynamic new platform for international growth in natural gas in the region. ADNOC, and now XRG, is a trusted partner with whom we have worked successfully for over five decades. Together, we can continue to build on bp’s 60 years of technical expertise and delivery of safe and efficient operations in Egypt—a hub for new opportunities to build out a highly competitive gas portfolio in the region.”

Arcius Energy has appointed its senior leadership team as part of its formation. Naser Saif Al Yafei, from ADNOC, will serve as Chief Executive Officer, while Katerina Papalexandri, from BP, will take on the role of Chief Financial Officer. Both executives bring decades of energy sector experience to their positions.

This declaration was made during the 2024 Commercial Bid Conference held at Eko Hotel & Suites in Lagos, where Gbenga Komolafe, the commission chief executive, highlighted the nation’s commitment to transparency, sustainability, and economic growth in its upstream petroleum sector.

Komolafe highlighted the strategic importance of fallow assets in boosting Nigeria’s energy output. These fields, which remain underutilized despite significant discoveries, represent a critical opportunity to increase production, create jobs, and attract foreign direct investment.

“NUPRC will launch another licensing round in 2025. Building on the lessons learned from this year’s round,” Komolafe said.

He added, “The 2025 exercise will focus on discovered but undeveloped fields (fallow assets) and prioritize natural gas development to support Nigeria’s commitment to UN Sustainable Development Goals.”.

Nigeria aims to redirect investments away from African competitors Angola and Namibia by streamlining the process of acquiring oil blocks.

The Abydos 1 Solar Power Plant, with a capacity of 560 megawatts, is a flagship project within this effort. It was inaugurated in the presence of Prime Minister Mostafa Madbouly, Minister of Planning, Economic Development and International Cooperation, Rania Al-Mashat, Minister of Electricity and Renewable Energy, Mahmoud Esmat, Minister of Petroleum and Mineral Resources, Karim Badr, and Governor of Aswan Major General Ismail Kamal. 

The project, executed by AMEA Power, a subsidiary of Al Nowais Group from the UAE, was funded through international partnerships with institutions such as the International Finance Corporation (IFC), the Japan International Cooperation Agency (JICA), and the Dutch Development Bank (FMO).

Speaking at the event, Al-Mashat highlighted the energy component of the NWFE Program, which aims to decommission 5 gigawatts of thermal power plants while attracting $10 billion in investments to develop renewable energy projects. These efforts, spanning from 2023 to 2028, align with Egypt’s goal to increase renewable energy’s share in its energy mix to 42% by 2030. 

The initiative also supports Egypt’s nationally determined contributions to global climate goals.
Al-Mashat praised the program’s innovative approach to financing, which leverages blended finance mechanisms to attract private sector participation. 

Since its launch in 2022, the NWFE Program has mobilized over $4.5 billion in concessional financing, adding 4.7 gigawatts of renewable energy capacity. The program is expected to significantly reduce carbon dioxide emissions by 17 million tons annually and save $1.2 billion in fuel costs each year by replacing thermal power plants with clean energy sources.

The Abydos project reflects Egypt’s growing capabilities in renewable energy, supported by structural and legislative reforms implemented since 2014. These efforts have positioned Egypt as a regional hub for renewable energy, enabling it to meet domestic energy needs while advancing cross-border electricity initiatives.

The NWFE Program has received international recognition as a model for green investment. During COP29, 12 multilateral development banks issued a joint statement commending the program for its effectiveness in driving climate action and promoting sustainable development. The Abydos solar power plant, alongside other NWFE projects like the Amounet Wind Farm in Ras Ghareb, demonstrates Egypt’s commitment to transitioning to a low-carbon economy while fostering international collaboration.

Egypt is forging ahead in its renewable energy journey, with the NWFE Program showcasing the nation’s commitment to a sustainable, resilient, and green future. By developing 10 gigawatts of renewable energy capacity by 2028, the country is actively reducing its environmental impact, boosting economic growth, and solidifying its leadership in the global clean energy transition.

Bonga North will be a subsea tie-back to the Shell-operated Bonga Floating Production Storage and Offloading (FPSO) facility, which Shell operates with a 55% interest.

The Bonga North project involves drilling, completing, and starting up 16 wells (8 production and 8 water injection wells), modifications to the existing Bonga Main FPSO, and the installation of new subsea hardware tied back to the FPSO.

According to SNEPCo, the project will sustain oil and gas production at the Bonga facility.

Bonga North currently has an estimated recoverable resource volume of more than 300 million barrels of oil equivalent (boe) and will reach a peak production of 110,000 barrels of oil a day, with first oil anticipated by the end of the decade.

Bonga is a deep-water development located in OML 118, at water depths exceeding 1,000 meters. Production at the Bonga FPSO began in 2005, with a capacity to produce 225,000 barrels of oil per day. The project produced its one-billionth barrel of crude oil in 2023.

“This is another significant investment, which will help us to maintain stable liquids production from our advantaged upstream portfolio,” said Zoë Yujnovich, Shell’s Integrated Gas and Upstream Director.

Bonga North will help ensure Shell’s leading integrated gas and upstream business continues to drive cash generation into the next decade.

SNEPCo (55%) leads the operation of the Bonga field in collaboration with Esso Exploration and Production Nigeria Ltd. (20%), Nigerian Agip Exploration Ltd. (12.5%), and TotalEnergies Exploration and Production Nigeria Ltd. (12.5%), under the mandate of the Nigerian National Petroleum Company Limited (NNPC).

The estimated peak production and recoverable resources represent 100% of the total gross figures.

Shell anticipates that the investment in Bonga North will deliver an internal rate of return (IRR) surpassing the hurdle rate for its upstream business.

In a statement by Dangote Group Spokesperson Anthony Chijiena, Devakumar Edwin, the Vice President of Oil and Gas, Dangote Industries Limited, disclosed this while playing host to a delegation from the Japanese Business Community in Nigeria, led by Japan’s Ambassador-designate to Nigeria, Suzuki Hideo.

The inauguration ceremony was attended by the Minister of Electricity and Renewable Energy, His Excellency, Dr. Mahmoud Esmat, and the Chairman of AMEA Power, Mr. Hussain Al Nowais.

The Abydos Solar PV Plant will generate approximately 1,500 GWh of clean energy annually, enough to power approximately 300,000 households while offsetting 782,300 tons of CO2 emissions. Completed in just 18 months, it demonstrates AMEA Power’s technical expertise and efficient project execution. More than 3,000 personnel on site contributed to the solar plant’s construction, highlighting the strong focus on job creation and local collaboration.

The project was financed by the International Finance Corporation (IFC), Dutch Entrepreneurial Development Bank (FMO), and Japan International Cooperation Agency (JICA).

Hussain Al Nowais, Chairman of AMEA Power, said: “I am proud to announce that the 500MW Abydos Solar PV Plant is now fully operational—a landmark achievement that highlights the dedication of our team, the strength of collaboration, and the importance of empowering local communities. This milestone demonstrates AMEA Power’s technical excellence and sets a new standard for renewable energy projects. The solar power plant is a significant step in Egypt’s renewable energy strategy, supporting the goal of achieving 42% of energy generation from renewables by 2030. Together, we are driving progress toward a sustainable future.”

In September 2024, AMEA Power was awarded two additional groundbreaking projects in Egypt. The first, a 1,000 MW solar PV with a 600 MWh battery energy storage system (BESS), which will be the largest project of its kind in Africa, once commissioned. The second, a 300MWh BESS, which is an extension of the company’s existing 500MW Abydos solar PV plant. The project will pioneer the first-ever use of a utility-scale BESS solution in Egypt.

Furthermore, the 500 MW Amunet Wind Farm, located in Ras Ghareb, is currently under construction and is expected to be operational in the first quarter of 2025. 

Commitment to Community Development

Beyond renewable energy, AMEA Power remains committed to community development. In collaboration with local stakeholders, the company has undertaken key initiatives in Aswan Governorate, including:

AMEA Power has renovated and equipped the Al Fares health unit to strengthen local healthcare services. The company has also conducted technical training sessions for youth at the project site while generating employment opportunities during construction.

Additionally, AMEA Power has renovated the Al Azhar Girls’ Institute to enhance educational support within the community. These efforts demonstrate AMEA Power’s active commitment to driving sustainable development and empowering local communities through its operations.

Announced by QatarEnergy on Sunday, the agreement stipulated that the HEL, an indirect subsidiary of Chevron Corporation, would hold a 52.50 percent interest. 

Each of the remaining partners, Trago Energy Limited and the National Petroleum Corporation of Namibia (NAMCOR), will hold a 10 percent interest, QatarEnergy said in a press release.

The exploration block lies 200 kilometers off Namibia’s coast, with the license covering water depths ranging from 2,400 to 3,300 meters.

This portion is characterized by large structural formations, some spanning up to 100 km², with prominent vertical relief. Initial findings also suggest clear indications of hydrocarbon charge from source rocks in nearby areas.

Monitor Exploration Limited (Monitor), the operator for PEL 93’s exploration and development program, has completed the initial processing and interpretation of the 2D seismic data, the company announced.

According to 88 Energy, it will conduct an independent review, integrating additional information, such as well logs, airborne geophysics, and soil geochemistry, now that it has received the seismic data.

The company aims to validate the findings and finalize a prospective resource estimate for PEL 93 in the first half of 2025.

“A prospective resource estimate for PEL 93 is targeted for completion in the first half of 2025, following the internal review of Monitor’s seismic interpretation,” the company notes.

PEL 93 is a vast, 18,500 km² onshore license area comprising central license blocks 1717 and 1817.

88 Energy, through its wholly owned subsidiary Eighty Eight Energy (Namibia) (Pty) Ltd, currently holds a 20% working interest in PEL 93.

Monitor, through its fully owned Namibian subsidiary, Monitor Oil and Gas Exploration (Namibia) Pty Ltd, holds a 55% working interest in PEL 93. Legend Oil Namibia Pty Ltd holds 15%, while the National Petroleum Corporation of Namibia Pty Ltd owns 10%. Monitor operates the exploration and development activities for PEL 93.

The blocks are governed by Petroleum Exploration License 83 (“PEL 83”), which is operated by a subsidiary of Galp Energia of Portugal. Custos is a 10% working interest owner in PEL 83, as is NAMCOR, the National Petroleum Corporation of Namibia.

The partners in the joint venture have opted to keep the Santorini drillship on-site to continue exploration and appraisal work at the Mopane field during the southern hemisphere’s summer. This decision, which follows the successful appraisal operations announced on December 2nd at the Mopane 1-A location, avoids the extra costs of moving the drillship to and from the area.

The campaign has progressed to spudding the Mopane-2A well within AVO-3, with plans to begin drilling the Mopane-3X well in early 2025. The latter targets stacked reservoirs in AVOs 10 and 13 and benefits from recently enhanced 3D seismic data. Additionally, a proprietary high-density, high-resolution 3D seismic survey over the Mopane complex is slated to begin in December 2024.

Data from Mopane-1A, released on December 2nd, revealed the presence of light oil and gas condensate within high-quality, sand-rich reservoirs. These sands demonstrated excellent porosity, permeability, and pressure conditions, coupled with low-viscosity oil, minimal CO2, and the absence of H2S. Alongside findings from Mopane-1X and Mopane-2X, the results confirmed the quality and extent of AVO-1, prompting the acceleration of the development program.

“The acceleration of operations in this second campaign is further evidence of the quality and potential of the Mopane complex. The exploration and appraisal activities anticipated over the coming months should further unveil its world-class scale and quality,” said Knowledge Katti, Chairman and Chief Executive Officer of Custos.