Nigeria, Ivory Coast, and Mozambique are set to launch at least 10 new offshore drilling projects between 2026 and 2027, signaling a renewed drive in Africa’s deep-water oil and gas sector.
This was disclosed in a report by Upstream Online, which on Monday cited insights from global offshore drilling giants Transocean and Valaris. The companies noted rising demand for deep-water rigs across the region, driven by growing exploration and development activity in these three countries.
Transocean and Valaris, two leading global offshore drilling contractors, are competing for new opportunities in oil and gas exploration across Africa. According to both firms, Nigeria, Ivory Coast, and Mozambique are quickly emerging as key strategic hubs for future “floater” projects—deepwater drilling operations conducted using floating rigs.
The surge in interest is being fueled by international oil companies targeting long-term investments in deepwater assets across West, South, and East Africa.
The report read, “Africa is at last starting to generate the opportunity set that the global deepwater drilling contractors have been waiting for.
“In their latest earnings calls, both companies said that expectations are high for drillship and semi-submersible requirements in 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,” Valaris’ Senior Chief Commercial Officer, Matt Lyne, said.
Analysts say the offshore drilling push reflects renewed global confidence in Africa’s offshore basins, despite persistent challenges like high capital costs and the complex engineering demands of deepwater exploration.
With rising global energy demand and improved project economics, investors are increasingly directing capital toward Africa’s underexplored but resource-rich offshore waters.
Nigeria, the continent’s top oil producer, is experiencing a renewed wave of offshore interest. Ivory Coast is gaining momentum following recent oil and gas discoveries, while Mozambique remains a key focus due to its vast 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.
Shell Nigeria Exploration and Production Company Ltd. recently reaffirmed its confidence in Nigeria’s capacity to reach its oil production target of over 2.4 million barrels per day, emphasizing the critical role that deepwater drilling will play in achieving this goal.
The Managing Director of SNEPC, Ronald Adams, highlighted that Nigeria’s deepwater reserves rank among the most promising in the world—not only for oil but also for gas resources that can drive cleaner energy, support domestic power needs, and contribute to global emissions reduction.
As onshore and shallow water production face setbacks from pipeline vandalism and crude theft, major international oil companies like Shell, Chevron, and TotalEnergies are increasingly shifting their investments offshore, where operations offer greater security and scalability.
