Africa Oil, soon to be renamed Meren Energy Inc., has provided an update on its Nigerian operations and offshore projects. In Nigeria, TotalEnergies has drilled two new production wells at the Egina Field, expected to start soon. At the Akpo Field, a well intervention and a new development well are scheduled for mid-year. Later, drilling may pause for seismic data analysis to guide future drilling plans. One promising prospect, Akpo Far East, could hold up to 143.6 million barrels of oil equivalent in high gas-oil ratio hydrocarbons.
The company also shared updates on development planning in offshore Namibia and Nigeria, where it is a partner.Africa Oil (soon to be Meren Energy Inc.) shared further operational updates. If drilling proves successful, existing production manifolds may be used for initial development. At the Agbami Field, 4D seismic interpretation is ongoing to support infill drilling planned for 2027.In Namibia, the Venus-1X discovery has completed appraisal, with development targeting 150,000 bbl/d and a final investment decision (FID) expected in early 2026. Two 3D seismic surveys now cover most of the licensed area.
For the Venus discovery in Block 2913B (Orange Basin), up to 40 subsea wells are planned, tied to a 160,000 bbl/d FPSO. Front-end engineering design (FEED) is expected to proceed between Q2 and Q4 2025, with environmental documentation submitted in the fall and FID likely in the first half of 2026.
Meren Energy (formerly Africa Oil) plans to begin its next exploration drilling campaign offshore Namibia in Q4, targeting the Olympe-1X prospect on Block 2912. In South Africa’s Orange Basin (Block 3B/4B), drilling of the Nayla prospect is expected next year.
The company is also in farm-in talks for blocks EG-18 and EG-31 offshore Equatorial Guinea, aiming to finalize agreements by September and potentially start drilling in late 2026 or 2027.CEO Roger Tucker noted that the Prime consolidation was a natural catalyst for the company’s rebranding.In recent years, we’ve streamlined our structure, gained direct stakes in key Nigerian assets, and shifted from exploration-led to a full-cycle E&P model focused on strong cash flow and shareholder returns.
