Southern Africa is fast becoming a major player in the global oil and gas industry, with new discoveries and large-scale projects driving investment opportunities across the region. From deepwater oil fields in Namibia and Angola to gas developments in Zimbabwe and Mozambique, the region’s energy sector is poised for rapid expansion. However, unlocking its full potential will require increased capital and advanced technology from investors.
The upcoming African Energy Week (AEW), scheduled for September 29 to October 2, 2025, will put a spotlight on Southern Africa’s energy landscape, featuring discussions on exploration, production, investment opportunities, and regulatory challenges.
The event will bring together regional governments, industry leaders, and international investors to accelerate energy development across the region.
Angola: Expanding Offshore Exploration
Angola, Sub-Saharan Africa’s second-largest oil producer, is pushing ahead with exploration and production to maintain output above one million barrels per day.
In Q1 2025, the country will launch the final bid round of its six-year licensing strategy, offering nine offshore blocks in the deepwater Kwanza and Benguela basins. The government is also promoting marginal fields for direct negotiation and advancing major projects, including:
- Cabinda Oil Refinery (2025)
- New Gas Consortium (early 2026)
- Agogo Integrated West Hub Development (mid-2026)
Mozambique: LNG Mega-Projects Move Forward
With over 100 trillion cubic feet (TCF) of natural gas in the Rovuma Basin, Mozambique is advancing its Liquefied Natural Gas (LNG) projects despite previous delays. Key developments include:
- Coral South FLNG (3.4 MTPA) – Already operational
- Coral North (3.37 MTPA) – Under development
- Mozambique LNG (13 MTPA) – Project timeline extended to 2029/2030
- Rovuma LNG (18 MTPA) – ExxonMobil targeting Final Investment Decision (FID) by 2026
Namibia: Africa’s Next Deepwater Oil Producer
Following a series of major offshore discoveries in the Orange Basin, Namibia is targeting first oil production by 2029. The Venus-1X discovery by TotalEnergies leads the charge, with FID expected in 2026.
However, a quicker development timeline may be possible through the Mopane well (PEL 83), where operator Galp is seeking a farm-in partner. Other energy giants such as Shell, Chevron, and Petrobras are also investing in Namibia’s offshore sector, while ReconAfrica and Sintana Energy focus on onshore exploration.
South Africa: Gas and Renewables on the Rise
South Africa has emerged as a key gas exploration hub, with significant interest in its Southern Outeniqua Basin and Orange Basin. While TotalEnergies exited the Southern Outeniqua Basin in 2024, it has shifted focus to the Orange Basin, mirroring Namibia’s offshore success. Other companies investing in South Africa’s upstream sector include Shell, Africa Oil Corp, and Petrobras.
Additionally, South Africa is expanding its renewable energy initiatives, integrating natural gas with solar and wind power to strengthen its energy mix.
Zimbabwe: A Promising Onshore Gas Frontier
Zimbabwe’s oil and gas industry gained attention in 2022 with Invictus Energy’s successful drilling of the Mukuyu-1 well at the Cabora Bassa Project. In 2023, the company confirmed a major gas discovery at Mukuyu-2, with an estimated resource of 20 TCF of natural gas. In 2025, Invictus Energy completed a Petroleum Production Sharing Agreement (PSA) review, paving the way for:
- 3D seismic surveys
- Appraisal drilling and well testing
- Development planning and operational enhancements
Zimbabwe is now aiming to establish its first commercial gas production, positioning itself as a rising player in Africa’s natural gas market.
African Energy Week 2025: A Catalyst for Investment
With vast oil and gas resources and ongoing energy reforms, Southern Africa presents a lucrative frontier for investors. African Energy Week 2025 will play a crucial role in connecting stakeholders, unlocking capital, and driving regional energy security. As interest in the sector grows, the coming years could mark a transformational shift in Southern Africa’s energy landscape.
