Akwa Africa to Acquire TotalEnergies Mauritania

TotalEnergies. Bigstock

The development comes at a time when Akwa Group has recorded a 51.5% increase in revenue in the first half of 2022 compared to the same period last year, driven by increases in gas and oil sales and high prices globally.

What’s more, the acquisition follows mergers and acquisitions across the African oil and gas markets increasing as majors including TotalEnergies diversify their portfolios due to energy transition-related business trends.

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Onur Yilmaz

Onur Yilmaz

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