Italian oil giant Eni has greenlit four major upstream oil and gas projects in Angola and Congo-Brazzaville for 2025, bypassing Nigeria despite its vast reserves and long-standing ties with the company.

The projects are part of Eni’s global expansion plan to hit an average production of 1.7 million barrels of oil equivalent per day (boepd) next year.

“Growth is an important feature in our plan,” said Francesco Gattei, Eni’s Chief Transition and Financial Officer. “We are creating value, leveraging our competitive strength in the upstream.”Notably missing from the list? Nigeria.

Despite hosting key Eni assets like the Agip Oil Company and joint ventures with NNPC, Nigeria was left out—raising concerns about its investment climate.

Regulatory uncertainty, security issues, and slow reforms are driving companies to more stable markets.“Nigeria must act fast to regain its competitive edge,” warned an energy lawyer at Bloomfield Law Firm.

While Eni shifts focus, Nigeria still led Africa’s upstream deals in 2024 with three of four Final Investment Decisions, totaling $13.5 billion, according to Wood Mackenzie.

Analysts say there’s still hope—if Nigeria accelerates promised reforms and capitalizes on Eni’s interest in expanding gas operations under its Decade of Gas initiative.