Iraq’s Deputy Prime Minister for Energy Affairs Mohsen al-Mandalawi met a KBR delegation on October 22 to discuss upstream and gas development

The Environmental Quality Board approved expedited rules establishing mandatory environmental review categories for gas/helium production projects, rejecting a board amendment to lower the EAW threshold from five to three production wells. The resolution directs staff to submit rules for administrative review.

Senegal’s state-owned oil company Petrosen is seeking investment partners for the Yakaar-Teranga offshore gas project, targeting a final investment decision (FID) by the end of 2027, the African Energy Chamber (AEC) said in a media release. Mouhamadou Diop, chief executive of Petrosen Trading & Services, outlined the timeline at African Energy Week 2026 in Cape Town last week. The project is central to Senegal’s plans to expand domestic gas supplies, support power generation and develop gas-intensive industries. “Yakaar-Teranga has the potential to be truly transformative for Senegal. The main question surrounding the project is economic competitiveness and sovereignty,” Diop was quoted by the AEC as saying. Located in the Cayar Offshore Profond block north of Dakar, the Yakaar-Teranga discoveries hold an estimated 25 trillion cubic feet (tcf), equivalent to about 707.9bn cubic metres (bcm), of gas in place, according to US independent oil and gas exploration and production company Kosmos Energy (NYSE/LSE: KOS). Under an agreement with the Senegalese government, Kosmos Energy formally withdrew from the project in April 2026, leaving Petrosen with full control of the licence. “Deep offshore projects are complex and require a lot of capital,” Diop said. “Therefore, the government of Senegal has made it a national priority to make the country more attractive to investment in order for us to fully maximize the true potential of our offshore resources.” The proposed first phase requires about $2.5bn and targets production of 150mn–300mn cubic feet (mmcf) per day, or about 4.25mn–8.50mn cubic metres (mcm) per day. A second phase, estimated to cost $5bn, would support downstream industries, including fertiliser manufacturing and petrochemicals. The development concept prioritises domestic gas supply, while an earlier plan also envisaged exports. Dominique Gadelle, vice-president for front-end, markets and solutions at Technip Energies (Euronext Paris: TE), noted that commercial agreements would be important to advancing the project. “We need commercial and contractual arrangements before reaching FID,” Gadelle said. “We are seeing positive signs and are very optimistic about the future of the MSGBC basin.” Senegal’s government has identified domestic gas development as a priority to reduce reliance on imported fuels and support power generation and industry. State control gives Senegal greater influence over how the resource is developed, but meeting the FID target will depend on credible financing, commercial viability and an executable project design, says NewsBase Horizon, a dedicated advisory division of NewsBase.

Invictus Energy (ASX:IVZ, VFEX:INV, OTCQB:IVCTF) will participate in African Energy Week (AEW) 2026 as a Bronze Partner, bringing Zimbabwe’s Cabora Bassa Basin development to the continent’s energy investment forum, the African Energy Chamber (AEC) said in a media statement on August 31. The partnership comes as the Australia-based independent upstream oil and gas company moves from frontier exploration towards commercial development after discoveries, regulatory progress and a petroleum production sharing agreement (PPSA) governing petroleum operations across the full lifecycle of the Cabora Bassa project. Invictus holds an 80% interest in the project across 360,000 hectares in the Cabora Bassa Basin. According to the company, its Mukuyu discovery contains an estimated 4.2 trillion cubic feet of gas, equivalent to about 118.9bn cubic metres (bcm) of gas, and 264 million barrels of condensate, which could support domestic gas supply and power generation. The company signed the PPSA with the Republic of Zimbabwe in May, setting the fiscal and commercial terms for future development. The agreement gives the state a 20% interest and includes the Mutapa Investment Fund, with Zimbabwe able to take its share through profits or physical gas volumes. Invictus is preparing to drill the Musuma-1 well, which is scheduled to spud in November, according to the company’s statement on August 7. The well will target an independent prospect on the eastern basin margin with an unrisked gross mean prospective resource of 1.2 trillion cubic feet (34.0 bcm) of gas and 73 million barrels of condensate. The company has secured Exalo Drilling Rig 202 through a deed of variation with Exalo Drilling S.A. Wellpad construction and other preparations are also under way. Invictus raised about $7mn in July to strengthen funding for the drilling programme and appraisal work. In the meantime, Invictus is developing a pilot gas-to-power commercialisation project for the Mukuyu gas field. The project with Dallaglio Investments and Himoinsa Southern Africa is designed to generate 12 MW for the Eureka Gold Mine, with scope to expand to 50 MW as gas production and industrial demand increase, the AEC said. Furthermore, Invictus is targeting broader gas monetisation for Cabora Bassa gas through a memorandum of understanding (MoU) with Mbuyu Energy to explore gas supplies for power generation facilities linked to the Southern African Power Pool (SAPP). According to the AEC, longer-term options include regional pipeline infrastructure and modular LNG production. “Invictus Energy represents the type of African-led resource development that AEW is designed to showcase, where exploration success is being matched by commercial planning, government alignment and investment,” said NJ Ayuk, executive chairman of the AEC. “Its participation brings Zimbabwe’s emerging gas opportunity into direct conversation with investors, developers and energy companies from across the continent and beyond.” AEW 2026 will take place in Cape Town, South Africa, from October 12-16.

<p>Egypt's Ministry of Petroleum has announced an ambitious $1.6 billion investment plan for natural gas exploration and development in the 2025-2026 fiscal year, aimed at boosting domestic production...

Exciting news! 🌍 Eni and TotalEnergies advance Cyprus's first gas project, the Cronos field, to secure Europe's LNG supply. #Eni #TotalEnergies #Cronos #GasDevelopment #EnergySecurity

Investing.com -- Hunting PLC (LON:HTG) has been awarded a $31 million order for titanium stress joints for a deepwater gas development in the Turkish area of the Black Sea. The contract, received by Hunting’s Subsea Spring business unit, involves supplying six titanium stress joints with patented Direct Pull-thru Tube technology. These components will be used on the second and third floating production, storage and offloading vessels operating at the deepwater development. The $31 million contract is expected to be completed over the next 24 months, with the first delivery scheduled for the first quarter of 2027. This award represents phase three of the deepwater gas project and follows Hunting’s initial contract for the phase two development received earlier in 2024, which will be completed by 2026. Hunting is also pursuing additional contracts associated with this project for its recently acquired Flexible Energy Solutions portfolio. Following this contract win, Hunting’s Subsea group now has a sales order book of approximately $125 million, while the Group’s total order book stands at around $480 million. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Sure, there are always opportunities in the stock market – but finding them feels more difficult now than a year ago. Unsure where to invest next? One of the best ways to discover new high-potential opportunities is to look at the top performing portfolios this year. ProPicks AI offers 6 model portfolios from Investing.com which identify the best stocks for investors to buy right now. For example, ProPicks AI found 9 overlooked stocks that jumped over 25% this year alone. The new stocks that made the monthly cut could yield enormous returns in the coming years. Is HTG one of them?