Africa’s Independent Oil and Gas Companies Drive Upstream Growth in 2025

Africa’s independent oil and gas companies are emerging as the new force in the continent’s energy sector. As global majors scale back, independents are filling the gap with fresh capital, local expertise, and a greater willingness to take risks.

Shift from Majors to Independents

For decades, Africa’s upstream sector was dominated by international oil companies. That dominance is shrinking.

• Shell finalized a $2.4 billion sale of its Nigerian onshore assets to ND Western in March 2025.

• ExxonMobil and TotalEnergies have also exited several positions, creating room for regional players.

Africa holds about 125 billion barrels of proven oil and over 620 trillion cubic feet of gas. Yet nearly 600 million people still live without electricity. Strengthening local independents is key for both energy security and domestic participation in resource management.

Case Studies in Independent Growth

• Namibia: Oregen Energy expanded its stake in Block 2712A to 34% after raising $7 million in equity. This follows Shell and TotalEnergies’ multi-billion-barrel discoveries in the Orange Basin.

• Nigeria:

  • Shoreline Energy acquired a 45% stake in OML 30 and secured a long-term gas deal with Shell. Production is expected to grow from 45,000 to 100,000 barrels per day by 2030.

  • Seplat acquired ExxonMobil’s shallow-water assets, adding nearly 95,000 boe/d pending final approvals.

  • ND Western is deploying enhanced recovery techniques to maximize Shell’s divested fields. Nigerian independents now deliver about 30% of the country’s oil output, compared to less than 10% a decade ago.

• West Africa: APUS Energy drilled Guinea-Bissau’s first offshore well in nearly 20 years, targeting 314 million barrels near Senegal’s Sangomar field. A commercial find could reshape the region’s production map.

Why This Matters

Africa’s independents are not only sustaining production left behind by majors but also pushing frontier exploration. Their growing role shows a structural shift in how the continent manages its vast reserves. For policymakers, supporting these players is critical to boosting both energy access and national control over resources.

{Source: IOL}

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