Energean Eyes Other African Gas Opportunities After Morocco Exit

Greek energy major Energean is exploring several gas investment opportunities in Africa, only months after withdrawing from Morocco. The company is currently assessing potential assets in Angola as well as offshore prospects linked to Mauritania and Senegal. Chief executive Mathios Rigas discussed the group’s plans in an interview published Monday, March 9, by Upstream Online.

Energean said it is close to entering Angola’s oil and gas sector and is considering acquiring stakes in existing upstream projects rather than pursuing new developments.

The company is also evaluating offshore gas resources along the maritime border between Mauritania and Senegal, an area that has attracted growing international attention following a series of offshore discoveries in recent years. The two countries jointly host the Greater Tortue Ahmeyim gas project, which spans their maritime boundary. Operated by BP in partnership with Kosmos Energy, the development began production in late 2024 and exported its first liquefied natural gas cargo in April 2025. The project’s first phase targets production capacity of about 2.3 million tonnes of LNG per year.

A Short Lived Move into Moroccan Offshore Gas

Energean’s renewed focus on other African opportunities follows its recent exit from Morocco. Less than a year earlier, the company had entered the country’s offshore gas sector by acquiring stakes in the Lixus and Rissana exploration licences alongside British firm Chariot and Morocco’s state hydrocarbons authority ONHYM.

Finalised in April 2024, the transaction gave Energean a 45% interest in the Lixus licence and a 37.5% stake in Rissana. The company also assumed operatorship of the Anchois gas project located offshore near Larache.

The venture proved short-lived. Results from the Anchois-3 appraisal well fell short of expectations, weakening the case for a commercially viable development. Energean subsequently chose to exit the project and return its interests to Chariot, which resumed control of both licences alongside ONHYM.

The withdrawal, confirmed in May 2025, brought Energean’s presence in Morocco’s offshore gas sector to an end after little more than a year.

Read More about African Oil and Gas HERE