Oil & Gas

Africa is poised for a major wave of investment in its oil and gas sectors, driven by a series of licensing rounds scheduled for 2024 and 2025. These initiatives, detailed in the African Energy Chamber’s State of African Energy 2025 Outlook Report, aim to unlock the continent’s vast untapped energy resources and drive long-term economic growth. The upcoming African Energy Week, under the theme “Invest in African Energies,” will serve as a platform to connect international investors and operators with new block opportunities across the continent.

In North Africa, several countries are leading the charge. Libya, for the first time since 2011, launched a licensing round in March 2025, offering 22 blocks in key basins and attracting interest from 37 companies. Algeria is moving aggressively with its energy ambitions, awarding five licenses in June 2025 and committing to invest $50 billion in hydrocarbon projects over the next four years. Egypt has also opened 12 new blocks in its March 2025 bid round, focusing on the resource-rich Mediterranean and Nile Delta regions.

West Africa is also preparing for a surge in exploration activity. Sierra Leone is offering around 50 offshore blocks in its 2025 licensing round, aiming to boost its offshore sector. Nigeria is focusing its 2025 round on underdeveloped fields to revitalize production and attract new players. Meanwhile, Liberia held its round in 2024, making 29 offshore blocks available, supported by comprehensive seismic data to enhance investment appeal.

In East and Southern Africa, new opportunities are emerging in previously underexplored regions. Tanzania will open bidding for 26 blocks in 2025, while Kenya is planning its first-ever licensing round in September 2025, focusing on the Lamu and Anza basins. Uganda is expected to announce new exploration areas during the 2025/2026 fiscal year. In Southern Africa, Angola’s 2025 round will offer ten blocks as part of its six-year oil development strategy, while Namibia is attracting interest through its open-door system, especially following recent exploration successes. Together, these developments underscore Africa’s strategic commitment to expanding its energy portfolio and attracting global investment.