Seeking to expand oil and gas reserves and output, up to 18 exploration licensing rounds are expected to award blocks in Africa by the end of 2023, according to the African Energy Chamber’s The State of African Energy 2023 Outlook. Offering revamped fiscal terms and improved operating environments, new licensing rounds are expected to position the continent as a global exploration hub, while ushering in a new era of industry growth and energy security in Africa.
In addition to the new bid rounds planned next year, other countries – like the Democratic Republic of Congo (DRC), The Gambia, Sierra Leone, Sudan, South Sudan and Senegal – launched licensing rounds in 2022 and are expected to award them in 2023.
