ExxonMobil, a leading U.S.-based integrated energy company, is set to underscore its long-term commitment to Africa’s burgeoning energy sector as a Diamond Sponsor at the highly anticipated 2025 African Energy Week (AEW) conference in Cape Town. The African Energy Chamber has confirmed ExxonMobil’s pivotal role in the event, scheduled for later this year under the overarching theme of “Invest in African Energies.” This strategic participation highlights the company’s multi-faceted approach to the continent, combining substantial new upstream investments, major liquefied natural gas (LNG) developments, and critical long-term skills initiatives designed to foster local capacity.

At the conference, ExxonMobil will provide crucial updates on its diverse oil and gas projects spanning West and East Africa, specifically in Nigeria, Angola, and Mozambique. Beyond its operational portfolio, the company will also spotlight its impactful STEM Africa program, an educational initiative spearheaded by the ExxonMobil Foundation in partnership with Junior Achievement Africa. This program is meticulously designed to expand technical capacity and cultivate a skilled workforce, addressing a critical need within the continent’s rapidly evolving energy landscape. The blend of operational delivery and local skills development championed by ExxonMobil exemplifies the strategic partnerships that the African Energy Chamber’s Executive Chairman, NJ Ayuk, believes are essential for the continent’s energy future.

A Legacy of Engagement: ExxonMobil’s African Footprint

ExxonMobil’s presence in Africa is not a recent phenomenon; it spans decades, marked by significant exploration, development, and production activities across various countries. The company has historically been a key player in unlocking Africa’s vast hydrocarbon potential, contributing substantially to the economies of host nations through direct investments, job creation, and revenue generation. Its long-standing relationships with national oil companies and governments have positioned it as a reliable partner in navigating the complexities of the continent’s energy sector.

Over the years, ExxonMobil has invested billions of dollars in challenging deepwater environments, bringing cutting-edge technology and expertise to extract resources that were once considered inaccessible. This long-term engagement has not only boosted energy production but also fostered the development of local supply chains and infrastructure. The company’s continued participation and investment signal a renewed confidence in Africa’s resource potential, even as the global energy landscape undergoes a profound transition. This enduring commitment is vital for countries seeking to leverage their natural resources for economic growth and industrialization.

Boosting Black Gold: Investments in Nigeria’s Deepwater Frontier

Nigeria, Africa’s largest oil producer, remains a cornerstone of ExxonMobil’s West African operations. The company is preparing to commit additional capital to deepwater developments, reinforcing its long-term commitment to the nation’s energy sector. This investment plan is a strategic move to build on existing production from established offshore fields like Erha and Owowo, which have been in operation for several years. The Erha field, for instance, located in Oil Mining Lease (OML) 120, commenced production in 2006 and has been a significant contributor to Nigeria’s crude oil output. The Owowo field, discovered in 2004, further solidified ExxonMobil’s deepwater footprint in the region.

ExxonMobil’s strategy in Nigeria is multi-pronged: it focuses on optimizing output from these mature assets through enhanced oil recovery techniques and operational efficiencies, while simultaneously advancing exploration activities in promising, underexplored offshore blocks. These efforts are in direct alignment with the Nigerian government’s ambitious target to increase crude oil production and attract much-needed foreign direct investment into its energy sector. Nigeria aims to boost its production capacity and stabilize its oil revenues, which are crucial for national development and economic diversification. The challenges in Nigeria’s oil sector, including issues around security, regulatory uncertainty, and aging infrastructure, make sustained investment from major international players like ExxonMobil even more critical. Deepwater projects, while capital-intensive, offer significant long-term potential due to their large reserves and often lower operational risks compared to onshore developments. The successful execution of these investment plans will be vital for Nigeria to achieve its production goals and maintain its position as a leading global oil supplier.

Angola’s Enduring Partnership: Securing Long-Term Production

Angola, another key African oil producer, also features prominently in ExxonMobil’s portfolio. The company has demonstrated its long-term commitment by extending its production sharing contract for Block 15 until 2037. This block is home to the prolific Kizomba deepwater development, a complex of fields that have been producing oil for over two decades. The agreement with Angola’s National Agency of Petroleum, Gas and Biofuels (ANPG) ensures continued operations and revenue generation for the Angolan state. Kizomba, comprising fields like Kizomba A (Hungo and Chocalho) and Kizomba B (Kissanje and Dikanza), has been a cornerstone of Angola’s deepwater success, showcasing advanced subsea technology and significant production capabilities.

Furthermore, ExxonMobil has renewed its Block 17 contract in partnership with TotalEnergies, securing continued production from one of the country’s most productive offshore areas. Block 17, operated by TotalEnergies, includes major producing fields such as Dalia, Girassol, Pazflor, and Clov. These renewals are central to the Angolan government’s strategy to maintain output levels and stabilize its economy amidst declining production from older, shallower fields. Angola has actively pursued contract extensions and production optimization initiatives to counteract natural declines and ensure a steady flow of oil revenues. The stability provided by these long-term contracts is crucial for attracting further investment into Angola’s energy sector and supporting its economic recovery and diversification efforts. The deepwater expertise of companies like ExxonMobil and TotalEnergies is indispensable for maximizing recovery from these complex and technically challenging reservoirs.

Mozambique’s LNG Promise: Fueling Global Markets

In East Africa, ExxonMobil is making significant strides with the long-anticipated Rovuma LNG project in Mozambique’s offshore Area 4. This mega-project is expected to reach a final investment decision (FID) in 2026, marking a critical milestone towards unlocking Mozambique’s vast natural gas reserves. The development is designed to bring an additional 18 million tons per year (MTPA) of LNG capacity to global markets, a substantial volume that would significantly elevate Mozambique’s status as a major LNG exporter.

Mozambique has emerged as a key LNG prospect over the last decade, with the discovery of vast offshore gas fields in the Rovuma Basin. The country holds some of the largest proven gas reserves in Africa, estimated at over 100 trillion cubic feet. The Rovuma LNG project, alongside other developments like TotalEnergies’ Mozambique LNG (Area 1) and Eni’s Coral South FLNG, is poised to transform the nation’s economic landscape. These projects are crucial for Mozambique’s long-term development, promising substantial export revenues, job creation, and opportunities for local businesses.

The project also fits seamlessly within Africa’s broader ambition to position natural gas as both a vital export commodity and a crucial transitional fuel for domestic power generation and industrial use. Natural gas is viewed as a cleaner-burning fossil fuel compared to coal and oil, making it an attractive option for countries seeking to reduce carbon emissions while still meeting growing energy demand. The African Union’s Agenda 2063 and the Africa Gas Master Plan emphasize the role of natural gas in supporting industrialization, electrification, and regional trade across the continent. Mozambique’s LNG exports will not only cater to global energy needs but also provide a stable, long-term energy source for its own burgeoning industries and population, contributing to energy security and economic stability.

Investing in Human Capital: The STEM Africa Program

Beyond its impressive operational portfolio, ExxonMobil is making a profound investment in Africa’s future through its commitment to human capital development. The STEM Africa program, launched in 2024 by the ExxonMobil Foundation in partnership with Junior Achievement Africa, stands as a testament to this dedication. The program offers hands-on science, technology, engineering, and mathematics (STEM) training to students in four key African nations where ExxonMobil has significant operations: Nigeria, Namibia, Angola, and Mozambique.

In its inaugural year, the STEM Africa program achieved remarkable success, reaching over 3,000 students and sparking a significant interest in technical fields. A staggering 96 percent of participating students indicated a strong interest in pursuing STEM-related careers, a crucial indicator of the program’s effectiveness in inspiring the next generation of African scientists and engineers. This initiative recently received the prestigious Local Impact Award at the Big Five Board Awards in London, reflecting its substantial contribution to education and workforce readiness in the energy sector.

The importance of such initiatives cannot be overstated. Africa faces a significant skills gap in critical technical areas, which can hinder the continent’s ability to fully capitalize on its vast natural resources and drive sustainable development. By investing in STEM education, ExxonMobil is not only fulfilling its corporate social responsibility but also actively contributing to building a pipeline of skilled professionals who can manage future energy systems, develop local content, and drive innovation within the industry. This long-term approach to capacity building ensures that the benefits of energy development are widely distributed and contribute to a more self-reliant and prosperous Africa. The program aims to empower young Africans with the knowledge and skills necessary to participate meaningfully in the continent’s energy transition and broader economic transformation.

African Energy Week 2025: A Pivotal Platform

ExxonMobil’s prominent involvement as a Diamond Sponsor at AEW 2025 is highly significant. The African Energy Week conference, organized by the African Energy Chamber, has established itself as the continent’s premier energy event, drawing policymakers, investors, and industry executives from across Africa and around the globe. It serves as a critical platform for dialogue, deal-making, and shaping the future direction of Africa’s energy sector.

The 2025 theme, “Invest in African Energies,” resonates deeply with the continent’s aspirations to attract the necessary capital and expertise to develop its diverse energy resources, including oil, gas, renewables, and emerging technologies. Discussions at AEW typically cover a wide range of topics, from upstream exploration and production to midstream infrastructure, downstream processing, and the financing of energy projects. The conference also places a strong emphasis on local content development, capacity building, and ensuring that energy projects deliver tangible benefits to African communities.

ExxonMobil is scheduled to take part in several key sessions at AEW 2025, reflecting its broad engagement across the energy value chain. These sessions are expected to include deepwater exploration strategies, plans for LNG supply expansion to meet growing global demand, and vital discussions on increasing women’s participation in the energy workforce. The company’s STEM Africa program will also be highlighted as a model for industry-led skills development, showcasing how private sector initiatives can complement government efforts to build a robust and inclusive energy workforce. The visibility and networking opportunities at AEW provide ExxonMobil with a crucial platform to articulate its vision for African energy and forge new partnerships.

Navigating the Energy Transition: Africa’s Dual Imperative

ExxonMobil’s involvement in AEW 2025 comes at a critical juncture when African governments and investors are grappling with the complex dynamics of the global energy transition. Unlike developed nations, many resource-rich African countries face a dual imperative: they seek to increase oil and gas output to meet growing global energy demand and generate much-needed export revenues, while simultaneously using these revenues to fund crucial renewable energy projects and domestic infrastructure development. This nuanced approach recognizes that a rapid, wholesale shift away from fossil fuels could severely jeopardize economic stability and energy access for millions of Africans.

The African Union’s Agenda 2063, a strategic framework for the socio-economic transformation of the continent over a 50-year period, strongly emphasizes energy security and industrialization. Central to this vision is the recognition of natural gas as a critical transitional fuel. The Africa Gas Master Plan outlines how natural gas can support industrialization, provide reliable baseload power for electrification, and facilitate regional trade through cross-border pipelines and LNG infrastructure. This pragmatic approach acknowledges that while renewables are the long-term goal, natural gas provides a necessary bridge, offering lower emissions than coal and a stable energy source to power economic growth.

At the same time, the global push for reduced carbon emissions is exerting considerable pressure on African projects to integrate lower-carbon technologies and prioritize domestic energy access. Discussions at AEW 2025 will likely feature debates on how companies like ExxonMobil can capture export revenue from their LNG projects and offshore operations while simultaneously meeting local energy needs and minimizing environmental impact. This involves exploring technologies such as carbon capture, utilization, and storage (CCUS), reducing flaring, and investing in associated gas-to-power projects. The focus will be on ensuring that energy development contributes to a just and equitable energy transition for Africa, one that balances economic growth with environmental stewardship and ensures energy access for all its citizens.

Conclusion: A Balanced Approach for Africa’s Energy Future

By linking significant upstream investments with robust capacity building initiatives, ExxonMobil’s activities in Africa touch upon several core priorities shared by African energy policymakers. These include the critical need to secure sustained investment in the energy sector, maximize local economic benefits through job creation and local content development, and build a highly skilled workforce capable of managing the complex energy systems of the future.

As the continent navigates an increasingly intricate energy landscape—one that balances the continued importance of traditional hydrocarbons, the strategic growth of natural gas, and the gradual integration of renewable energy sources—companies like ExxonMobil are poised to play a significant and influential role. Their balanced approach, combining capital deployment with human development, will be instrumental in shaping both Africa’s economic outcomes and the technical capabilities of its energy sector for decades to come. This collaborative model, as advocated by the African Energy Chamber, is essential for Africa to unlock its full energy potential, drive sustainable development, and ensure a prosperous future for its people.

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photo source: Google

By: Montel Kamau

Serrari Financial Analyst

4th August, 2025