With aims of accelerating monetization of regional hydrocarbon by 2050, many West African countries put the offshore hydrocarbon exploration on their national strategy. Since 2022 until now, Nigeria and Sierra Leone held new round of offshore bidding separately, Ghana is planning for new deep offshore bidding. During 2019 to 2022, the West African countries such as Angola, Côte d’Ivoire, Senegal, Equatorial Guinea, Congo, Liberia, Gambia, either launched bidding round or opened for direct negotiation for untapped blocks. Many of the IOCs acquired new blocks. West Africa presents huge opportunities for offshore upstream market.
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