A new report by Upstream Online reveals that Nigeria, Ivory Coast, and Mozambique are poised to kickstart 10 major offshore drilling projects between 2026 and 2027, marking a significant acceleration in Africa’s deepwater oil and gas ambitions. The projects are driven by surging interest from international oil giants in long-term operations across the continent’s underexplored offshore basins.
Key Highlights:
• Drilling contractors Transocean and Valaris confirmed the outlook in earnings calls, flagging Africa as the most active frontier for future floater opportunities.
• Nigeria, Africa’s largest oil producer, leads the charge with renewed offshore interest, including the $5 billion Bonga North project which reached FID in 2025.
• Ivory Coast has emerged as a rising exploration hotspot after recent discoveries, and Mozambique continues to attract global attention for its vast gas reserves.
• Offshore projects are expected to generate foreign direct investment, local jobs, and boost regional capacity in energy infrastructure.
Why It Matters:
With onshore and shallow water operations under threat from pipeline vandalism and theft, international oil companies like Shell, TotalEnergies, and Chevron are increasingly shifting to offshore developments where operations are more secure and scalable.
Industry Outlook:
• Shell Nigeria says deepwater projects are key to achieving Nigeria’s production target of 2.4 million bpd.
• The Bonga deepwater field recently celebrated its 1 billionth barrel exported, highlighting offshore Nigeria’s historic and future production strength.
