Nigeria, Ivory Coast, and Mozambique are emerging as the frontrunners in Africa’s expanding oil and gas landscape, with 10 new offshore drilling projects set to launch between 2026 and 2027. This major development signals a renewed global confidence in the continent’s deepwater potential and its role in meeting rising energy demand.
The announcement came from leading offshore drilling contractors Transocean and Valaris, who reported the surge of planned activity through Upstream Online, a respected international platform for energy industry news and analysis. Both companies emphasized that offshore Africa now represents the most active region globally for upcoming floater opportunities, drawing increasing interest from major international oil companies (IOCs).
“Offshore Africa remains the most active area for future floater opportunities. We are currently tracking approximately 10 long-term programs with expected start dates in 2026 or 2027, including projects offshore Nigeria, Ivory Coast, and Mozambique,” stated Matt Lyne, Senior Chief Commercial Officer at Valaris.
This offshore momentum is driven by improved project economics, enhanced exploration technology, and the global shift toward securing stable and diversified energy sources. Deepwater projects, while technically and financially demanding, are attracting capital due to their long-term potential and lower geopolitical risks compared to onshore operations.
Key Players and National Outlooks
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Nigeria, Africa’s top oil producer, is seeing a strong revival in offshore exploration as the industry shifts focus away from vandalism-prone onshore fields. The Bonga Field, operated by Shell Nigeria Exploration and Production Company Ltd. (SNEPCo), recently celebrated a major milestone—exporting one billion barrels of oil. The field’s success has set the stage for the $5 billion Bonga North project, which reached Final Investment Decision (FID) in 2025.
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Ivory Coast has quickly emerged as a rising star in West Africa’s deepwater market, following recent offshore discoveries that have sparked international exploration interest and positioned the country as a key frontier for future investment.
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Mozambique continues to attract global attention with its substantial offshore natural gas reserves. As demand for LNG rises globally, Mozambique is well-placed to become a major export hub, further diversifying Africa’s energy portfolio.
Strategic Shift to Offshore Energy
With onshore and shallow water production in decline—hampered by infrastructure challenges, pipeline theft, and aging assets—many global oil giants such as Shell, Chevron, and TotalEnergies are redirecting capital toward deeper, more secure offshore operations.
Ronald Adams, Managing Director of SNEPCo, recently emphasized Nigeria’s vast deepwater potential not only for oil but also for natural gas, which supports cleaner energy, powers domestic needs, and contributes to emissions reduction efforts globally.
Economic Impact and Future Outlook
The forecasted ramp-up in offshore drilling across these three nations is expected to bring significant economic benefits, including:
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Increased foreign direct investment (FDI)
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Job creation and workforce development
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Strengthening of local supply chains and infrastructure
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Enhanced energy security for domestic and export markets
As global demand for energy continues to rise—particularly for LNG and low-carbon solutions—Africa is positioning itself as a strategic hub for offshore energy growth, led by Nigeria, Ivory Coast, and Mozambique.
This next wave of offshore projects marks a pivotal chapter in Africa’s energy story, offering long-term value to investors, governments, and communities alike.