Africa Energies Summit 2026

Uncover Africa's next wave of offshore opportunities

Our insights into Africa’s evolving offshore opportunity landscape set the stage for continued dialogue. We look forward to continuing the conversation with you at the African Energies Summit.

Africa's offshore service market is entering a structurally stronger investment cycle, with total OFS investments forecast to grow by nearly 60% between 2025 and 2028, driven almost entirely by a deepwater resurgence. Tax credits for deepwater projects in Nigeria, incremental production decrees targeting mature block expansions, and marginal field incentives are collectively unlocking barrels that have sat stranded for years.

The result is a visible pipeline reactivation. Shell's Bonga Southwest Aparo, Eni's Etan-Zabazaba, and ExxonMobil's Owowo West are back on operator priority lists, consistent with Nigeria ranking as the second-largest offshore investment destination on the continent. Angola, led by investments in ongoing projects and planned investments in Azule Energy's PAJ project, holds the top spot, underpinned by the depth of its deepwater resource base.

Beyond West Africa, Namibia's Venus and Mopane, Eni's Baleine Phase 3 in Côte d'Ivoire, and Structure A&E in Libya add meaningful geographic diversification. Exploration activity is also picking up across Southern Africa, with Namibia emerging as one of the most sought-after frontier basins globally following high impact discoveries in recent years. Engineering & Construction and Drilling & Intervention segments are expected to account for the largest share of incremental spend growth, reinforcing strong forward demand for EPCI and offshore drilling services.