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Sonangol: A Competitive Partner for United States (US) Investors

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Angola Oil & Gas

Angola Oil & Gas 2024 is hosting a networking event on March 19 in Houston, providing a platform for US companies to forge strategic partnerships with Angola’s national oil company

LUANDA, Angola, March 18, 2024/APO Group/ — 

Angola’s national oil company (NOC) Sonangol has increased its competitiveness and capacity as an operator through a privatization process initiated by the government – set to be complete by 2026. Now, the NOC is actively seeking partners for exploration and production projects, and is inviting US companies to connect with opportunities in Angola. A networking event in Houston on March 19 will foster engagement between US stakeholders and Angolan leaders, including Sonangol.

Hosted by Angola Oil & Gas (AOG) 2024, in collaboration with the National Oil, Gas & Biofuels Agency (ANPG) and the Ministry of Mineral Resources, Petroleum and Gas, the event provides a platform for Sonangol and US investors to explore synergies and forge strategic partnerships for mutual growth.

Organized by Energy Capital & Power, AOG stands as the largest oil and gas event in Angola, fully supported by key stakeholders including the Ministry of Mineral Resources, Oil and Gas, Sonangol, ANPG, the African Energy Chamber, and the Petroleum Derivatives Regulatory Institute. This event serves as a platform to sign deals and advance Angola’s oil and gas industry. For sponsorship or participation as a delegate, interested parties can contact sales@energycapitalpower.com.

Sonangol recently qualified as both an operator and a non-operator in the recent bid round for onshore blocks in the Lower Congo and Kwanza Basin during the ANPG’s 2023 onshore licensing round. Noteworthy is Sonangol’s involvement in Block KON 15, where the company secured a substantial 40% participation interest as an operator alongside Afentra as a non-operator with a 45% interest. Interested companies qualified as associates of the national concessionaire have the opportunity to participate with a 15% interest in the block. This offers promising opportunities for U.S. companies to collaborate with Sonangol and Afentra in the development of Block KON 15, providing access to resources, expertise, and investment prospects in Angola’s energy sector.

Sonangol has already formed strategic partnerships with US companies to develop oil and gas resources. In March 2023, the company partnered with US oil and gas major ExxonMobil to enhance exploration in Angola’s Namibe Basin. An MoU was signed for Blocks 30, 44, and 45, facilitated by the ANPG, aiming to increase competitiveness.

Meanwhile, U.S. company Chevron’s Angolan subsidiary CABGOC and Sonangol – alongside global major TotalEnergies and oil and gas company Azule Energy – recently formed the New Gas Consortium to spearhead the development of the Quiluma and Maboqueiro gas fields. The project encompasses the construction of two offshore wellhead platforms off the northwest coast of Angola, an onshore gas processing plant, and a connection to the Angola LNG plant for the marketing of condensates and gas through LNG cargoes. This collaborative effort aims to harness the potential of these fields, with an anticipated production of four billion cubic meters per year by 2026.

Recognizing the need to diversify revenue streams, Sonangol has expanded into renewable energy sectors. In May 2023, the Solenova consortium, comprising Sonangol and Azule Energy, launched the Caraculo Solar Power Station in Namibe, Angola. This facility, housing 46,000 solar panels, marks Angola’s first photovoltaic plant and is operated by the Solenova consortium. Aligned with Angola’s Energy Strategy 2025, the plant aims to produce 500 MW of renewable energy in the next two years.

Furthermore, Sonangol EP and Azule Energy solidified their commitment to advancing decarbonization efforts in Angola by signing an MoU at last year’s AOG conference. This MoU seeks to identify shared interests, establish a collaborative framework, and explore opportunities for renewable energy projects, including solar and wind, as well as low-carbon blue hydrogen initiatives. This diversification not only spearheads electrification in Angola but opens up new investment opportunities for US investors with expertise in these areas.

As Sonangol continues to evolve and expand its operations, US investors are encouraged to explore the myriad opportunities for collaboration and investment in Angola’s dynamic oil and gas sector. Together, Sonangol and US investors can forge strategic partnerships that not only benefit both parties but also contribute to the long-term prosperity and energy security of Angola.

To RSVP for the Angola-focused cocktail event, please reach out to sales@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power

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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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PAPSS

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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