Cape Town, South Africa, November 5, 2024 – The African Farmout Forum, part of the pre-conference workshops at African Energy Week: Invest in African Energies 2024, showcased 16 companies presenting competitive farm-in opportunities in Africa’s leading oil and gas hotspots.
The forum, led by global energy advisory Moyes, oil and gas asset deals platform Farmout Angel, and independent advisor Envoi, provided a premier platform for deal-making and pitching.
Companies presented various investment opportunities across the continent, including Somalia, Timor-Leste, Morocco, Ghana, Nigeria, Sierra Leone, Equatorial Guinea, Namibia, Cameroon, São Tomé and Príncipe, Angola, and the Democratic Republic of Congo.
Notable opportunities included Liberty Petroleum Corporation’s search for a farm-in partner for PSAs 131, 190, and 206 offshore Somalia, which hold an estimated 56 billion barrels of oil resources.
Timor Resources sought a strategic investment of $20 million to fund appraisal wells onshore Timor-Leste, while Chariot Transitional Energy presented the Loukos Onshore license area in Northern Morocco as a near-term, low-risk appraisal opportunity.
Other opportunities included OSWT & EK Operating Company’s search for a partner in the Offshore South West Tano block in Ghana, Dajo Energy’s seek for a co-developer to develop the OPL 322 asset into production offshore Nigeria, and Africa Oil Corp.’s farm-out interests in blocks EG-18 and EG-31 offshore Equatorial Guinea.
The forum highlighted Africa’s vast potential for oil and gas exploration and production, with major operators already making significant investments in countries such as Namibia. The event provided a platform for NOCs, small to medium-sized independents, and start-up energy companies to highlight partnership and investment opportunities, accelerate exploration, and access project funding.
The African Energy Chamber, organizer of the event, aims to promote investment in Africa’s energy sector and support the growth of the continent’s oil and gas industry.