This combination of development capital and long-term demand positions Indian companies as important potential partners for African projects seeking investment and secure markets. The Invest in African Energy (IAE) Forum 2027, taking place in Paris from May 11–13, will convene African governments and project sponsors with the investors and offtakers positioned to carry these partnerships into new transactions.

BPCL Combines Equity and Offtake in Mozambique LNG

BPCL's role in Mozambique LNG demonstrates how Indian companies participate in African projects as both investors and buyers. The company holds a 10% interest in the TotalEnergies-operated Area 1 concession in Mozambique's Rovuma Basin through its upstream subsidiary Bharat PetroResources, and has a 15-year agreement to purchase one million tons per annum (mtpa) of LNG from the project. In June 2026, BPCL sought shareholder approval to provide a debt service undertaking of up to $1.92 billion to the project's senior lenders, supporting the financing of the development's first two trains.

BPCL and its Area 1 partners, led by operator TotalEnergies, lifted force majeure on the $20 billion Mozambique LNG project in November 2025, and more than 6,000 personnel were deployed at the site by May 2026. The first two trains have a combined nameplate capacity of 12.88 mtpa, backed by long-term sales agreements with buyers across Asia and Europe.

Mozambique Anchors ONGC Videsh's Portfolio

India has followed the pattern of Asian national oil company-led investment in Africa that extends from Abu Dhabi to Tokyo. ONGC Videsh, the overseas arm of India's state-owned Oil and Natural Gas Corporation, holds an additional 10% of Area 1 and shares a further 10% with Oil India through Beas Rovuma Energy Mozambique. Area 1 accounts for about 42% of ONGC Videsh's proven and probable reserves, making it the company's largest asset.

ONGC Videsh produced 10.28 million tons of oil equivalent (mmtoe) in the 2024-25 financial year and targets 40 mmtoe by 2040, with future acquisitions expected to provide 48-55% of that target.

Crude Demand Extends the Partnership

India's relationship with African energy producers extends beyond upstream equity. The country imports more than 85% of its crude oil, and African producers are an established part of its supply chain. Nigeria is India's largest African supplier, with Angola and Algeria also significant sources. Indian companies are also active in African downstream development, with state-owned Engineers India involved in work on Nigeria's Dangote refinery – the largest such operation on the continent.

The company also secured a $450 million contract by Dangote Industries in September 2026 to manage the development of a planned $16 billion refinery and petrochemical complex in Kenya. A groundbreaking ceremony was held that same month, with the 700,000-bpd complex expected to come online in 2030.

India's government has also extended more than 190 lines of credit worth over $10 billion to 41 African countries, financing projects in sectors including power and rural electrification, according to Indian government officials.

What this Means for Projects Heading to Paris

Indian state companies hold both equity and long-term offtake in one of Africa's largest LNG developments, while ONGC Videsh's growth plans center on new acquisitions. Their participation in the African energy economy brings development capital and committed demand to projects, supporting the financing of large-scale developments on the continent.

IAE 2027 will give African governments and project sponsors a platform in Paris to advance partnerships with Indian and other international capital, through the inaugural B2G Day's government-investor sessions, as well as its forums on exploration and capital allocation.

To learn more about IAE 2027 and register as a delegate, visit www.invest-africa-energy.com.