Baltic Alliance increases presence in Africa’s energy sector

Baltic Alliance increases presence in Africa’s energy sector

Baltic Alliance is strengthening its presence across Africa’s energy landscape, as a series of recent agreements and expanding commercial activities reshape regional partnerships and unlock new long-term investment opportunities.

Over the past two years, Baltic Alliance has taken decisive steps to establish a durable foothold in Africa’s hydrocarbon sector, aligning its growth strategy with the continent’s increasing demand for experienced, reliable energy partners.

In April 2025, Baltic Alliance signed a landmark agreement with the Federal Republic of Nigeria for onshore oil and gas exploration, securing rights over three exploration blocks covering more than 16,000 square kilometers. The agreement encompasses seismic surveys and drilling activities and provides Baltic Alliance with favorable cost recovery mechanisms and low royalty obligations, reflecting the Company’s willingness to undertake frontier exploration risk while supporting Nigeria’s objective of attracting long-term, capable operators.

Beyond hydrocarbons, Baltic Alliance has also signaled its intention to deepen cooperation within Nigeria’s mining sector, positioning the Company to participate in the development of Africa’s substantial reserves of critical minerals that are increasingly essential to the global energy transition.

At the same time, Baltic Alliance is accelerating its energy expansion in Libya. In May 2025, the Company signed a Memorandum of Understanding (MoU) with Libya’s National Oil Corporation (NOC) to jointly evaluate offshore maritime areas south of the median line between Greece and Libya. The MoU covers four offshore zones designated for geological and geophysical assessment.

The planned exploration program is expected to generate approximately 10,000 kilometers of seismic data, to be processed over a nine-month period, forming the basis for future offshore development decisions.