European oil majors and their service networks are stepping up reinvestment across Africa’s upstream sector. In 2025, activity across West and Central Africa underscored a broader trend: European players are no longer just operators but anchors of structured capital and co-investment, reshaping how frontier and mid-life fields attract financing, technical expertise and strategic partnerships.

In Nigeria, TotalEnergies reinforced its offshore strategy through a farm-out agreement with Chevron in the West Delta basin, bringing in a strategic partner while retaining operatorship of the PPL 2000 and PPL 2001 licenses. Selling a 40% stake allows TotalEnergies to spread exploration risk while accelerating technical work and capital deployment ahead of planned drilling. The deal reflects a wider European trend toward collaborative project development rather than exiting African upstream assets.

In the Republic of Congo, TotalEnergies secured the Nzombo exploration permit in September 2025 alongside QatarEnergy and SNPC, moving to drill high-potential targets near the Moho facilities that already underpin significant production volumes. Coupled with a $500 million drilling campaign at the Moho Nord field, the license illustrates how European majors are investing in both exploration upside and sustaining production from existing fields.

Meanwhile, London-based independent Trident Energy has expanded through its acquisition of Chevron Overseas (Congo) interests, including stakes in the Nkossa and Nsoko II fields and a working interest in Lianzi, positioning itself as a leading operator of mature assets that deliver near-term cash flow while supporting long-term exploration potential.

Italy’s Eni is similarly active. In Angola, the company brought a 400 MMscf/d gas treatment plant online in Soyo in November 2025, processing output from the Quiluma and Maboqueiro fields to support LNG exports and domestic industry. In Congo, Eni is advancing Phase 2 of its LNG project, targeting first cargo in early 2026, while in Egypt, drilling campaigns at Zohr and other Mediterranean assets are extending field life and sustaining output. These initiatives reflect Eni’s strategy of optimizing existing infrastructure while unlocking new upstream volumes.

European service providers are also signaling confidence through early contracts. TechnipFMC won a major subsea EPCI contract from Eni in December 2025 for the Coral Norte FLNG project in Mozambique, while Saipem secured six fertilizer projects for Dangote Fertilizer in Nigeria and $135 million in offshore drilling contracts across West Africa, the Mediterranean and the Far East. These awards underscore the ecosystem’s capacity to support large-scale developments, often a precursor to full project sanctioning.

For investors, European re-engagement creates co-investment pathways. Majors bring technical expertise, banking relationships, access to capital markets and structured financing tools that can lower the cost of capital for projects historically considered high-risk. Pension funds, sovereign wealth funds and private equity firms can participate alongside operators in project equities, drilling schedules and service ventures.

This dynamic is central to the Invest in African Energy (IAE) Forum, scheduled for April 22–23, 2026 in Paris. The event convenes ministers, national oil company leaders, investors and service providers for high-level dialogue and deal-making, with a focus on frontier exploration, early-stage development and structured upstream finance. Delegates will explore co-investment opportunities with European majors and their capital partners, gaining insight into risk-sharing frameworks and emerging African upstream corridors.

As European operators and service companies deepen their African upstream footprint, they provide a model for disciplined capital deployment, structured financing and sustainable partnerships that could define the next chapter of hydrocarbon development on the continent.

IAE 2026 is an exclusive forum designed to connect African energy markets with global investors, serving as a key platform for deal-making in the lead-up to African Energy Week. Scheduled for April 22–23, 2026, in Paris, the event will provide delegates with two days of in-depth engagement with industry experts, project developers, investors and policymakers. For more information, visit www.invest-africa-energy.com. To sponsor or register as a delegate, please contact sales@energycapitalpower.com