{"id":48495,"date":"2023-11-30T11:48:59","date_gmt":"2023-11-30T11:48:59","guid":{"rendered":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ma-deals-in-africas-oil-gas-industry-in-2023"},"modified":"2023-11-30T12:36:52","modified_gmt":"2023-11-30T12:36:52","slug":"ma-deals-in-africas-oil-gas-industry-in-2023","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ma-deals-in-africas-oil-gas-industry-in-2023","title":{"rendered":"M&A Deals in Africa\u2019s Oil & Gas Industry in 2023"},"content":{"rendered":"

Africa-Press – South-Sudan. <\/strong><\/span>In 2023, Africa\u2019s Mergers & Acquisitions (M&A) landscape featured a healthy mix of oil and gas deals, with M&A activity resulting in a total transaction value of $3.2 billion in deals either announced or closed. According to the African Energy Chamber\u2019s 2024 Outlook report, transactions depicted a trend in which indigenous operators are buying into producing portfolios, while global energy majors are giving greater focus to dedicated frontier regions, such as Namibia.<\/p>\n

Maurel & Prom Acquires Assala Energy: $730 Million<\/b><\/p>\n

In August 2023, oil and gas exploration company Maurel & Prom announced the 100% acquisition of Gabon-focused oil and gas company, Assala Energy, from global investment firm The Carlyle Group. At a cost of $730 million, the transaction comprises all of the company\u2019s Gabon-focused assets and subsidiaries. The deal is closed.<\/p>\n

Galp Energia Divests Angolan Assets: $655 Million<\/b><\/p>\n

In February 2023, Portuguese multinational energy corporation Galp Energia signed an agreement with Angolan privately-held energy company Etu Energias (formerly Somoil) for the sale of its upstream assets in Angola. The deal was valued at $655 million and is expected to be closed by the end of 2023.<\/p>\n

AFC Acquires Aker Energy: $605 Million<\/b><\/p>\n

Africa Finance Corporation (AFC) Equity Investment \u2013 an affiliate of multilateral finance institution AFC \u2013 announced in April 2023 a deal to acquire exploration and production company Aker Energy. Valued at $605 million, the deal will see AFC Equity Investment become Aker Energy\u2019s sole stakeholder. Following completion of the transaction, the company will have a 50% stake in the Deepwater Tano Cape Three Points block, offshore Ghana \u2013 comprising the Pecan field and discoveries.<\/p>\n

Petronas Divests Chadian Assets: $371 Million<\/b><\/p>\n

In May 2023, Malaysian energy group Petronas announced the completion of the sale of its Chadian assets to state-owned Socie\u0301te\u0301 des Hydrocarbures du Tchad at a cost of $371 million. The transaction includes stakes in seven producing oil fields in the Doba Basin, as well as a 29.77% interest in the Chad-Cameroon oil pipeline company \u2013 operator of the 1,081km Chad-Cameroon Pipeline.<\/p>\n

Octavia Energy Acquires Sound Energy\u2019s Moroccan Assets: $141 Million<\/b><\/p>\n

Following the initiation of a farm-out process in August 2022, in June 2023, UK-based energy firm Sound Energy entered into a 45-day exclusivity with Calvalley, a subsidiary of international oil and gas company Octavia Energy, for a 40% working interest in the Tendara Exploitation Concession and the Grand Tendara Exploration Permit in Morocco. The deal is valued at $141 million.<\/p>\n

Eni Sells Select Onshore Nigerian Assets: $86 Million<\/b><\/p>\n

In September 2023, Italian-based energy major Eni announced the signing of an agreement with African integrated energy firm Oando for the sale of Nigerian Agip Oil Company (NAOC) \u2013 Eni\u2019s wholly-owned onshore Nigerian subsidiary. NAOC\u2019s assets include interests in four onshore Blocks \u2013 OML 60, 61, 62 and 63 \u2013 and two onshore exploration leases \u2013 OPL 282 and 135.<\/p>\n

Afentra Acquires Additional Angolan Assets: $48 Million<\/b><\/p>\n

Independent energy company Afentra signed a sale and purchase agreement with independent equity producer Azule Energy in July 2023 to acquire a 12% interest in Block 3\/05 and a 16% interest in Block 3\/05A. Estimated at $48 million, the deal is ongoing.<\/p>\n

This was followed by an announcement in November 2023 that the government approved Afentra\u2019s acquisition of two oil blocks from state-owned Sonangol. Set to be concluded by the end of this year, the deal comprises a 14% non-operating interest in Block 3\/05 and a 40% non-operating interest in Block 23, offshore Angola.<\/p>\n

Apex Acquires Six Egyptian Assets: $45 Million<\/b><\/p>\n

In January 2023, independent oil and gas exploration and production company Apex Energy acquired six concessions in the Western Desert of Egypt from International Egyptian Oil Company \u2013 an Eni subsidiary. Closed in June 2023, the concessions include all of the company\u2019s interests in the Ras Qattara, West El Razzak, East Kanayis and West Abu Gharadig concessions, as well as a 25% interest in the East Obaiyed and South West Meleiha concessions.<\/p>\n

For More News And Analysis About South-Sudan<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Sudan. In 2023, Africa\u2019s Mergers & Acquisitions (M&A) landscape featured a healthy mix of oil and gas deals, with M&A activity resulting in a total transaction value of $3.2 billion in deals either announced or closed. According to the African Energy Chamber\u2019s 2024 Outlook report, transactions depicted a trend in which indigenous operators […]<\/p>\n","protected":false},"author":84,"featured_media":48494,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,265,233],"class_list":["post-48495","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-sudan","tag-south-sudan"],"yoast_head":"\nM&A Deals in Africa\u2019s Oil & Gas Industry in 2023 - South Sudan<\/title>\n<meta name=\"description\" content=\"In 2023, Africa\u2019s Mergers & Acquisitions (M&A) landscape featured a healthy mix of oil and gas deals, with M&amp ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ma-deals-in-africas-oil-gas-industry-in-2023\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"M&A Deals in Africa\u2019s Oil & Gas Industry in 2023\" \/>\n<meta property=\"og:description\" content=\"In 2023, Africa\u2019s Mergers & Acquisitions (M&A) landscape featured a healthy mix of oil and gas deals, with M&amp ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ma-deals-in-africas-oil-gas-industry-in-2023\" \/>\n<meta property=\"og:site_name\" content=\"South Sudan\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-30T11:48:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-30T12:36:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2023\/11\/sm_1701335074.726351.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1728\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ma-deals-in-africas-oil-gas-industry-in-2023#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ma-deals-in-africas-oil-gas-industry-in-2023\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"M&A Deals in Africa\u2019s Oil & Gas Industry in 2023\",\"datePublished\":\"2023-11-30T11:48:59+00:00\",\"dateModified\":\"2023-11-30T12:36:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ma-deals-in-africas-oil-gas-industry-in-2023\"},\"wordCount\":633,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ma-deals-in-africas-oil-gas-industry-in-2023#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2023\/11\/sm_1701335074.726351.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Sudan\",\"South-Sudan\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ma-deals-in-africas-oil-gas-industry-in-2023#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ma-deals-in-africas-oil-gas-industry-in-2023\",\"url\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ma-deals-in-africas-oil-gas-industry-in-2023\",\"name\":\"M&A Deals in Africa\u2019s Oil & Gas Industry in 2023 - 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