Africa's national oil companies improve production thanks to collaboration with the ICC

Against a backdrop of growing global demand for hydrocarbons and an ongoing energy transition, Africa's national oil companies (NOCs) are positioning themselves as key players in the development of the continent's energy resources. By strengthening their balance sheets, collaborating with international oil companies (IOCs) and diversifying their activities, these entities are playing a central role in the next wave of oil and gas innovation in Africa.

To increase their competitiveness, several national oil companies have adopted bold strategies, including partial privatisation, the transfer of regulatory functions to independent entities and the increased acquisition of oil and gas assets. These reforms are aimed not only at improving their operational performance, but also at attracting more foreign investment.

In Libya, the national oil company (NOC) is relying on strategic partnerships with international giants such as Repsol, BP, TotalEnergies and ConocoPhillips to boost its production to 2 million barrels per day (bpd). For its part, Sonatrach, the Algerian company, recently revised its legislation on hydrocarbons in order to encourage international collaborations. Advanced negotiations are underway with ExxonMobil and Chevron to boost exploration in the country, with an ambitious target of increasing hydrocarbon production by 2.5% this year.

Africa has become a major player in the global liquefied natural gas (LNG) market, thanks to collaboration between the NOCs and the ICCs. Several flagship projects illustrate this dynamic.

• Greater Tortue Ahmeyim Project : The national companies Petrosen (Senegal) and SMH (Mauritania) have joined forces with BP and Kosmos Energy to develop this cross-border LNG project. Located off the coasts of Mauritania and Senegal, it should help to position the two countries as major LNG exporters.
• Mozambique : Mozambique's ENH is working closely with foreign operators to bring several LNG projects to fruition, including the Coral South FLNG mega-project and the development of onshore blocks in the Rovuma Basin.
• Angola : Sonangol, Angola's national oil company, is working with its partners in the New Gas Consortium to increase LNG production capacity and optimise the monetisation of its gas resources.

New exploration and production (E&P) markets are emerging across the continent, stimulated by the NOCs' efforts to exploit under-explored areas.

• Uganda : The Uganda National Oil Company (UNOC) is actively carrying out exploration campaigns in still largely unexploited basins, with projects such as the EACOP (East African Crude Oil Pipeline) aimed at exporting production to international markets.
• Namibia : NAMCOR, Namibia's national oil company, is working in partnership with ICCs to launch the first oil production in the Orange Basin by 2029, a project that could transform the country into a new regional producer.
• South Africa : The South Africa National Petroleum Company (SANPC) is working to facilitate investment in exploration, natural gas monetisation and energy infrastructure development, as part of a strategy to reduce dependence on imports and secure domestic supply.

Africa's national oil companies are no longer content to play a passive role in the energy sector. They are now taking the lead on complex and innovative projects, while working with global operators to maximise the value of their resources.

"Africa's national oil companies are driving the next wave of innovative oil and gas developments on the continent," says Tomás Gerbasio, Vice President for Commercial and Strategic Engagement at the African Energy Chamber. "By partnering with global operators and strengthening their operational capabilities, NOCs are not only driving projects forward, but also enhancing the competitiveness of African operators.

This transformation marks a crucial stage in the history of the African oil and gas industry. By building on strategic partnerships and modernising their approaches, the NOCs are well placed to take advantage of the opportunities offered by global markets while meeting local energy needs.

As Africa continues to strengthen its position on the global energy scene, NOCs are playing a key role in the transition to a more sustainable energy future. By investing in modern infrastructure, exploring promising areas and collaborating with international players, they are helping to create an environment conducive to economic growth and inclusive development.

With initiatives ranging from LNG production to the exploration of new oil basins, Africa's national oil companies embody a new era of innovation and leadership for the continent's energy sector. Their success will continue to inspire similar models in other regions, while ensuring that Africa remains a key player on the global energy stage.