The African Export-Import Bank (Afreximbank) has approved a $200 million revolving credit facility for Nigeria’s Shoreline Energy to fund the development of the Hassi Bir Rekaiz oilfield in Algeria.
The financing is designed to support the expansion of production capacity at the site, with targets set between 50,000 and 60,000 barrels per day.
This move underscores a growing trend of intra-African capital flows supporting upstream energy projects, reducing reliance on external financing sources for critical infrastructure development.
The approval signals continued institutional confidence in African energy assets despite broader global market volatility.
By backing Shoreline, a Nigerian firm operating in Algeria, Afreximbank is reinforcing its mandate to facilitate trade and investment across the continent.
The Hassi Bir Rekaiz project represents a significant step toward maximizing existing reserves in North Africa, a region that remains pivotal to global supply dynamics.