Nigeria, Ivory Coast, and Mozambique are expected to host 10 new offshore drilling projects between 2026 and 2027, marking a major push in Africa’s deepwater oil and gas development.
The disclosure was made by Transocean and Valaris, two of the world’s leading offshore drilling contractors, and was reported by Upstream Online, an international energy industry website that provides news and analysis of the major oil and gas projects shaping the industry globally.
Both companies noted that offshore Africa has become the most active region for future floater opportunities, with increasing interest from international oil companies in long-term projects across West, South, and East Africa.
“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,” Matt Lyne, Senior Chief Commercial Officer at Valaris, was quoted as saying in the Upstream Online report.
The surge in planned deepwater drilling reflects renewed global confidence in Africa’s offshore basins. Despite the technical and financial complexities of deepwater projects, rising energy demand and improved project economics are drawing new investment into the region.
Nigeria, Africa’s largest oil producer, is seeing a revival of offshore interest. Ivory Coast is emerging as a promising player following recent discoveries, while Mozambique continues to attract attention with its substantial offshore gas reserves.
The expected ramp-up in drilling could create major economic ripple effects from foreign direct investment to job creation and local capacity building.
As the industry shifts its gaze toward deeper waters, Africa, led by Nigeria, Ivory Coast, and Mozambique, is positioning itself as a central hub in the next chapter of global offshore energy development.
What you should know
A recent Nairametrics report highlighted that the Shell Nigeria Exploration and Production Company Ltd. (SNEPCo) remains confident in Nigeria’s ability to meet its production target of over 2.4 million barrels per day, with deepwater drilling playing a key role.
- Ronald Adams, Managing Director of SNEPCo, noted that Nigeria’s deepwater reserves are among the most promising globally, not just for oil, but also for gas fields that support cleaner energy solutions, power domestic needs, and help reduce global emissions.
- With onshore and shallow water production in decline and challenged by pipeline vandalism and crude oil theft, many international oil companies (IOCs), including Shell, Chevron, and TotalEnergies, are shifting investment offshore, where operations are more secure and scalable.
- In 2023, Nigeria’s Bonga field, operated by SNEPCo, reached a historic milestone by exporting one billion barrels of oil. The success was followed by progress on the $5 billion Bonga North deepwater project, which reached Final Investment Decision (FID) in 2025, further strengthening Nigeria’s offshore energy prospects.
