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Reimagining Resource-Rich Namibia: Namibia International Energy Conference (NIEC) to Explore Orange Basin Prospects

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Orange Basin

The sixth edition of the Namibia International Energy Conferences takes place April 23-25 in Windhoek

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JOHANNESBURG, South Africa, February 16, 2024/APO Group/ — 

Namibia expects to produce first oil by 2030, with development plans underway for the eight discoveries made in the Orange Basin since 2022. This string of upstream success will not only create new opportunities for job creation, industrialization and long-term economic growth, but has demonstrated the lucrative potential of offshore oil in southern Africa.

Namibia’s recent upstream success and future investment opportunities will be a key focus during the Namibia International Energy Conference (NIEC) – taking place from April 23-25 in Windhoek. Movers and shakers from across the global and Namibia energy sectors will convene to discuss pathways to unlocking the full potential of the Orange Basin while drawing attention to emerging opportunities in surrounding fields.

NIEC is an influential event that brings together policymakers, energy stakeholders, investors and international partners to foster industry growth. Now in its sixth edition, the event takes place in partnership with the African Energy Chamber and serves to highlight Namibia’s position as a prime investment decision. Visit www.NIEConference.com for more information.

High-Impact Discoveries Yield Positive Results

Multinational energy corporation Galp made two discoveries in PEL 83 this year, kicking 2024 off to an exciting start. The company discovered a column of light oil in high quality reservoir-bearing sands at the Mopane-1X well in January 2024. This find was shortly followed by a second discovery at the well, following the drilling, coring and logging of a deeper target. Galp’s contracted rig has proceeded to spud the Mopane-2X well while a Drill Stem Test is conducted at Mopane-1X.

Shortly after, supermajor TotalEnergies discovered hydrocarbon-bearing intervals at the Mangetti-1X well in Block 2913B. A probe is currently being drilled as the major aims to determine commercial viability. TotalEnergies’ most recent find follows a discovery made in 2022 which opened up the Orange Basin. The Venus-1 discovery – located in PEL 56 – represented one of the largest in the world since the turn of the century, and likely holds as much as two billion barrels of recoverable reserves.

Our theme, Reimagine Resource-Rich Namibia, encapsulates our vision to create a prosperous, inclusive and sustainable future for all Namibians

Energy major Chevron filed for an environmental clearance certificate for oil and gas exploration in PEL 90 in November 2023. The company plans to drill five exploration wells and five appraisal wells, with the first well expected to be spud in Q4, 2024.

Energy major Shell has made four discoveries in the basin, with the Jonker-1; La Rona; and Graff-1 wells expected to hold 1.7 billion barrels. The Jonker-1 alone likely holds as much as 300 million barrels. The fourth discovery made was the Lesedi-1X well. These discoveries have made the country one of the hottest oil plays worldwide, with approximately 11 billion barrels of reserves estimated to be held in the Orange Basin.  

Looking Ahead: M&A Activity Grows

Eager to replicate upstream success, a slate of E&P companies have either entered or expanded their presence in the Orange Basin. TotalEnergies has dedicated 30% of its exploration and appraisal budget to the country while acquiring an additional 10.5% participating interest in Block 2913 and further 9.39% stake in Block 2912. Oil and gas exploration company Rhino Resources Namibia has plans to drill up to ten wells in Block 2914 while E&P company Woodside Energy acquired a 56% interest in PEL 87 in March 2023.

Meanwhile, oil and gas company Africa Oil acquired an additional 6.25% interest in Block 3B/4B in the Orange Basin in July 2023 while private exploration firm Impact Oil & Gas agreed to finance additional exploration in Block 2912 with a $95 million Open Offer signed in May 2023.

NIEC: The Official Dealmaking Platform for Namibian Energy

Taking place under the theme, Reimagine Resource-Rich Namibia: Turning Possibilities in Prosperity, NIEC 2024 builds of the success of the upstream market to connect new players to Namibia’s offshore acreage. The event features discussions on development strategies; untapped market opportunities; potential partnerships, and many more, driving deals and multilateral business.

Ndapwilapo Selma Shimutwikeni, CEO and Founder of NIEC-organizer RichAfrica Consultancy, stated that, “Our newfound energy resources present immense potential…we must strategically prepare ourselves to harness the full value chain of these resources. Our theme, Reimagine Resource-Rich Namibia, encapsulates our vision to create a prosperous, inclusive and sustainable future for all Namibians and to position the country as a leading energy hub.”

Distributed by APO Group on behalf of African Energy Chamber.

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Ministers among hundreds of energy-sector leaders to attend AOW event

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Sinclair

The event kicks off with an invitation-only ministerial symposium focused on the theme of “Fostering innovation, attracting investment, and promoting sustainable growth in the oil, gas, and energy sectors”

CAPE TOWN, South Africa, October 4, 2024/APO Group/ — 

AOW: Investing in African Energy (https://AOWEnergy.com) – Africa’s leading oil, gas and energy event – has confirmed attendance for more than 80 ministers and senior officials, representing African governments, energy departments and regulators at next month’s event.

These influential stakeholders will be among the more than 1 600 senior delegates and industry leaders who will be attending the event to develop policy, share discoveries, secure investment, and shape Africa’s energy future.

The event kicks off with an invitation-only ministerial symposium focused on the theme of “Fostering innovation, attracting investment, and promoting sustainable growth in the oil, gas, and energy sectors.”

Given the recent major oil-and-gas discoveries across Africa, the energy transition and major geopolitical events, it is clear that the energy sector needs positive intervention

Among the officials and government ministers attending will be energy leaders from South Africa, Nigeria, Namibia, Cote d’Ivoire, Mozambique, DRC, Ghana, Kenya, Madagascar, Eswatini, Uganda, CAR, Guinea Conakry, Guinea Bissau, Ethiopia, The Gambia, Gabon, Malawi, Morocco, Zanzibar, Liberia, Senegal, Congo Brazzaville and Sierra Leone.

In addition, the event will feature high-level delegations from numerous national oil companies, as well as multilateral bodies including the African Union, (AU), African Energy Commission (AFREC), African Petroleum Producers’ Organization (APPO) and the Southern African Power Pool (SAPP).

AOW will see these energy leaders networking with C-suite executives and decision-makers from more than 760 top energy companies at daily networking events, to discuss insights, forge new relationships, and negotiate major energy deals.

“We are so excited to see the calibre of delegates at this year’s AOW event,” says Chief Executive Officer of Sankofa Events, Paul Sinclair. “Given the recent major oil-and-gas discoveries across Africa, the energy transition and major geopolitical events, it is clear that the energy sector needs positive intervention. The high-powered attendance proves AOW is a key platform to enable this intervention.”

Key themes to be discussed at this year’s AOW will be sustainable upstream development; expanding gas value chains; renewables and new energies; adoption of best-in-class technologies; and access to finance.

AOW: Investing in African Energy will culminate in a special anniversary party at Groot Constantia Vineyard to celebrate 30 years of the AOW event.

Distributed by APO Group on behalf of AOW: Investing in African Energy.

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Afreximbank approves US$20.8 million for Starlink Global’s cashew factory project in Lagos

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The facility is expected to promote value addition which will guarantee increased earnings to the company while also fostering the creation of about 400 new jobs

CAIRO, Egypt, October 4, 2024/APO Group/ — 

African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has approved a US$20.8 million financing facility for Nigeria-based Starlink Global & Ideal Limited to enable the company construct and operate a 30,000-metric tonne per annum cashew processing factory in Lagos.

We are delighted at this partnership which promises to deliver significant impact on employment in Nigeria

According to the facility agreement signed in on July 22, 2024, Afreximbank will provide the funds in two tranches with the first tranche of US$7.48M going toward capital expenditure for the construction of the factory and the second, totalling US$13.25M to be deployed as working capital for the operations of the factory.

The facility is expected to promote value addition which will guarantee increased earnings to the company while also fostering the creation of about 400 new jobs once the factory becomes operational. It is also expected to support about 40 small and medium-sized enterprises.

Commenting on the transaction, Mrs. Kanayo Awani, Executive Vice President, Intra Africa Trade and Export Development, Afreximbank, said that by supporting Starlink Global to establish a modern processing facility, Afreximbank is making it possible for Africa to add value to its agro-commodities, thereby facilitating exports and subsequent inflow of much-needed foreign exchange into the continent.

“We are delighted at this partnership which promises to deliver significant impact on employment in Nigeria. It will contribute to value creation and to the development of the local community while also improving the lots of smallholder farmers and small business suppliers that will work with Starlink across the value chain,” Mrs. Awani added.

Distributed by APO Group on behalf of Afreximbank.

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Sonangol to Lead Decarbonized Oil & Gas (O&G) Development, Says Angolan National Oil Company (NOC) Head

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Sonangol

Participating in an on-stage interview at Angola Oil & Gas 2024, Sonangol CEO Sebastião Gaspar Martins emphasized that oil and gas remains a core focus for the national oil company

LUANDA, Angola, October 3, 2024/APO Group/ — 

Angola’s national oil company Sonangol reiterated its commitment to driving sustainable hydrocarbon development during the Angola Oil & Gas (AOG) conference this week. Speaking during an “In-Conversation with” session, Sonangol CEO Sebastião Gaspar Martins stated that the company will not abandon oil and gas, but rather advance decarbonized oil and gas development.

We are looking at opportunities in the gas sector and have identified the right partner to develop non-associated gas

By investing in upstream oil and gas production while prioritizing low-carbon projects, Sonangol aims to boost national crude output, while diversifying and decarbonizing the industry. The NOC is focusing efforts on non-associated gas development, as well as alternative energy sources such as solar.

“We are looking at opportunities in the gas sector and have identified the right partner to develop non-associated gas. Gas produced from Angola LNG will be used for the production of fertilizer and we are evaluating the utilization of gas in the south of the country, linking gas with steel industries. We also have a blue carbon project, linked to the reduction of carbon through the plantation of mangroves. We have one area in Luanda and have identified four additional areas for this,” stated Gaspar Martins.

Sonangol has undergone transformation in recent years: following the creation of the National Oil, Gas & Biofuels Agency (ANPG) in 2019, Sonangol transferred its role as national concessionaire and regulator. This transformation has aimed to make Sonangol more competitive and strengthen its capacity as an upstream operator. Concurrently, the government is partially privatizing the NOC, with privatization set to be complete in 2026. This process will enhance financial capacity, allowing Sonangol to drive new upstream projects forward.

“The transformation of Sonangol started several years ago, when we passed the regulatory, concessionaire role to the ANPG. At the time, we transferred almost 600 employees to the ANPG. After that, Sonangol underwent a restructuring program where we created five core business units from 36 different entities – starting with exploration and production. We want to go public, but we want to do it properly. So, we are currently going through all the processes to do this,” stated Gaspar Martins.

Distributed by APO Group on behalf of Energy Capital & Power.

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