E&P

The agreement signing. (Image source: QatarEnergy)

QatarEnergy, with its partners Shell and Sonangol E&P has signed an agreement with Angola’s National Agency for Oil, Gas, and Biofuels (ANPG) to hold interests in Blocks 8 and 22 offshore the Republic of Angola

Under the agreement, and subject to the relevant governmental approvals and final contractual arrangements, QatarEnergy will hold a 30% working interest, while Shell (the operator) will hold 50%, and Sonangol will hold 20% in the two offshore blocks.

For QatarEnergy, the agreement marks another important step in advancing its ambitious international exploration strategy, with maximising value from upstream being one of its five key strategic pillars in its vision to be one of the best energy companies in the world.

QatarEnergy acquired a 40% stake in the North Rafah block, offshore Egypt in October 2025, following hard on the heels of the acquisition of a 27% participating interest in the North Cleopatra block offshore Egypt, operated by Shell. QatarEnergy has also acquired exploration licences in the Republic of Congo, Algeria and Namibia.

His Excellency Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the president and CEO of QatarEnergy, said: “QatarEnergy is pleased to sign this agreement and to establish a presence in the energy sector of the Republic of Angola as part of our international upstream exploration strategy and growth efforts. We would like to thank the Angolan authorities, and our partners Shell and Sonangol, for their cooperation and support. We look forward to a longstanding and fruitful partnership.”

The agreement was signed in the Angolan capital Luanda on the sidelines of the Angola Oil & Gas Conference, where the Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, highlighted the contribution of oil activity to the diversification of the economy and outlined the main lines of the Executive's vision for the sector.

ANPG formalised a series of offshore entries, risk-service contracts and other agreements with international oil companies at the show, advancing exploration across the Kwanza and Congo Basins.

Sonangol presentations emphasised the national oil company's contribution to boosting the market, attracting capital, and consolidating strategic partnerships.

The concession benefits from a highly strategic offshore location. (Image source: Adobe Stock)

Joint Oil Exploration, Exploitation and Petroleum Services Company (Joint Oil), a joint venture between Libya and Tunisia, has announced the opening of a new bid round on 7 September for development of the promising Zarat discovery and further exploration of the Joint Oil Block border acreage

Located in the prolific Gabes-Tripoli Basin of the central Mediterranean, this offshore acreage represents a premier opportunity for cross-border energy cooperation between Tunisia and Libya. Moyes & Co., a global upstream advisory firm, has been engaged to seek industry partners for two separate commercial packages:

• Exploration: Further exploration of the Joint Oil Block for new plays, leads, and prospects under an Exploration and Production Sharing Agreement (EPSA). The area concerned spans 3,000 sq km in water depth of 80-120m, with seismic data covering 6,500km of 2D & 1,900km of 3D. Wells: Zohra-1 (1976), El Amal South 1 (1999), Besmah-1 (2002), El Amal North 1 (2002), Zarat North 1 (2010). Surrounding producing fields: El Bouri, El Jurf and Bihr El Salam in Libya; Hasdrubal, Ashtart, Miskar & Didon in Tunisia.

• Development: Development of the Zarat Discovery — which straddles the Tunisia-Libya border— as a unitised oil and gas resource. This will be governed by a Development and Production Sharing Agreement (DPSA), Unitisation Agreement (UA), Unit Operating Agreement (UOA), and Operating Services Contract (OSC).

The bid round will close on 31 December 2026.

Credible companies with proven offshore exploration and development capability are invited to apply for access to the Virtual Data Room (VDR) managed by Moyes. Bids must be received by 8 January 2027. Winning bidders will be informed by 26 February 2027, with formal awards expected by 30 April 2027.

The bid round opportunity will be presented at the London Mediterranean, Middle East & Africa Scout Group (MMEA) on 9 September 2026 and at the World Energy Summit in London on 29-30 September 2026 where Joint Oil will also be present at a booth.

Strong potential

Joint Oil has highlighted the exceptional potential of the Joint Oil Block and the Zarat Discovery, strategically positioned along the southern margin of the Pelagian Basin within the geological extension of the Sabratha–Gabes Basin. 

The concession benefits from a highly strategic offshore location near several major producing fields across the Sabratha–Gabes Basin, including Al Jurf, Bahr Essalam, and Bouri offshore Libya, as well as Ashtart, Didon, and Miskar offshore Tunisia. This positioning enhances the project’s long-term value proposition through access to established regional infrastructure, operational synergies, and export pathways.

Bordered by active Libyan exploration zones and major offshore concessions, the Joint Oil Block and Zarat discovery further underscore the substantial untapped hydrocarbon potential of the shared Tunisian-Libyan offshore basin, reinforcing its attractiveness as a high-impact exploration and development opportunity for investors and strategic partners. Zarat is the largest discovery in offshore Tunisia since the Miskar discovery in 1975, and is the largest undeveloped field in offshore Tunisia. Contingent resources at Zarat attributable to the Joint Oil Block totals 158 mmboe.

Joint Oil is a joint venture between Libya and Tunisia through the national companies, the Tunisian Corporation of Petroleum Activities (ETAP) and Ola Energy Holdings Ltd. (OLA Energy). The company has managed hydrocarbon resources within the Tunisia-Libyan offshore acreage since 1988.

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In a further boost for Iraq's oil and gas development prospects, Türkiye Petrolleri Anonim Ortaklığı (TPAO) is acquiring a 15% interest in BP Energy Company of Kirkuk Limited (BP ECKL), which is redeveloping several major oil and gas fields in the promising Kirkuk region of northern Iraq

Signed during the official visit of Iraqi Prime Minister Ali Al-Zaidi to Türkiye, the move builds on the strategic cooperation Memorandum of Understanding (MoU) signed by bp and Türkiye's national oil company in February 2026, and follows ConocoPhillips' recent acquisition of a 42% interest in BP ECKL. The two acquisitions bring together partners with complementary capabilities and expertise together with bp to support the next phase of redevelopment in Kirkuk. Following completion of the transaction, bp will remain the majority shareholder in BP ECKL with 43%.

Vast potential

Kirkuk, once among the most prolific regions globally, has vast potential, with a combined resource opportunity estimated at up to 20 billion barrels of oil equivalent.

bp received final government ratification for its contract to invest in the redevelopment of several giant oil fields in Kirkuk in March 2025, when bp said the investment will bring opportunity and growth to the Kirkuk region, as well as improving supply chain capability alongside job creation. Then bp executive vice president William Lin commented that the opportunity is fully in line with the company’s priority of pursuing new growth opportunities for bp as it strengthens and high-grades its portfolio across the world.

The contract between North Oil Company (NOC), North Gas Company (NGC) and bp includes the rehabilitation and redevelopment of the fields alongside investment in existing gas processing facilities, spanning oil, gas, power and water with potential for investment in exploration.

The Development and Production Contract covers an initial phase of oil and gas production of more than 3 billion barrels of oil equivalent from the Baba and Avanah domes of the Kirkuk oil field and the adjacent Bai Hassan, Jambur and Khabbaz fields in Federal Iraq, all currently operated by the North Oil Company (NOC) and North Gas Company (NGC). The contract area also includes additional exploration potential.

bp is drawing on its experience elsewhere in Iraq in developing Kirkuk, notably at the supergiant Rumaila field in southern Iraq, where with its partners it has helped to deliver a 40% increase in production since 2010. bp says it aims to grow a similar, modern upstream oil and gas industry centred around Kirkuk, bringing in technologies that transformed operations at Rumaila, such as real-time monitoring and digital surveillance. These can help to optimise well performance, predict and avert production issues, and facilitate data-driven decision making.

Chief executive officer Meg O’Neill said, “TPAO has been a trusted partner for more than 30 years through our work together across the Caspian region. This agreement builds on that long-standing relationship and, alongside our partnership with ConocoPhillips, positions us strongly for the next phase of redevelopment in Kirkuk. Kirkuk is a world-class resource base that can support Iraq's long-term energy ambitions, and we look forward to working closely with the Government of Iraq and our partners to deliver the next phase of redevelopment."

bp has a longstanding relationship with Iraq spanning more than a century with an involvement in both the north and south of the country. bp’s predecessor helped ‎Iraq to locate, produce and export oil from Baba Gurgur in Kirkuk, one of the largest oilfields ‎in the world at that time.

The project will boost gas output from the Bahr Essalam gas field. (Image source: Adobe Stock)

Eni, in partnership with the Libyan National Oil Corporation (NOC) through the Mellitah Oil & Gas joint venture, has started hydrocarbon production enabled by the Sabratha Compression Project, a strategic offshore development designed to boost gas output from the Bahr Essalam gas field, located around 100 km off the coast

The Sabratha Compression Project consists of the installation of a new 1,600-ton compression module on the Sabratha platform, equipped with new compression trains, providing an overall compression capacity of about 440 MMscfd.

The new module enables production under low-pressure conditions, offsetting the natural decline of the Bahr Essalam field and maximizing gas recovery, ensuring increased volumes of gas of about 800 million cubic metres per year and associated condensate. This additional production will play a critical role in sustaining national power generation, thus contributing to Libya’s energy security, and supporting export to Italy via the Greenstream pipeline.

Exploration activities yielded positive results in March 2026 with the Bahr Essalam South 2 (BESS 2) and Bahr Essalam South 3 (BESS 3) offshore discoveries. Preliminary estimates indicate that these discoveries jointly contain more than 1 Tcf of gas in place. Their proximity to the existing production facilities of the Bahr Essalam field will ensure a fast-track development.

Two additional strategic projects are presently in execution in the country: Bouri Gas Utilization Project, whose tie-in and commissioning activities are currently underway after the recent installation of the Bouri Gas Recovery Module, and Structures A&E, involving the development of two offshore gas fields. 

Eni has been present in Libya since 1959 and is the country’s leading international operator, with an equity production of approximately 162,000 barrels of oil equivalent per day in 2025 and three development projects currently in execution for a total investment of about US$10bn.

Libya’s efforts to boost oil and gas production following years of civil war have met with considerable success. Sirte Oil Company for Production and Manufacturing of Oil and Gas has recently successfully returned well J-03 in the Metkhendoush field to production. This follows the completion of the installation and commissioning of an electric submersible pump (ESP) artificial lift system, as part of the company’s efforts to maintain production rates and increase the production capacity of its oil fields, through well development and rehabilitation programmes, as well as improved operational efficiency.
The NOC’s crude oil production has now reached around 1.3-1.4mn bpd, the highest level since 2013, and well on the way to its goal of producing 1.6mn bpd by the end of 2026, rising to 2mn bpd in the medium term.