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African Resources to Catalyze Global Energy Security, Says African Energy Week (AEW) 2024 Opening Panel

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Energy Security

With energy demand projected to increase more than 50% between 2020 and 2050, Africa is strategically positioned to meet global energy needs while driving its own socioeconomic development

CAPE TOWN, South Africa, November 6, 2024/APO Group/ — 

Global energy demand is anticipated to increase 27% by 2040, with fossil fuels projected to account for the lion’s share of the world’s energy mix beyond 2050. Meeting this demand will require alternative energy supplies, and Africa, with over 125 billion barrels of proven oil reserves and 620 trillion cubic feet (tcf) of proven gas, is uniquely positioned to drive global energy security efforts.

The opening panel discussion at the African Energy Week (AEW): Invest in African Energies 2024 conference explored how African energy resources drive global energy security. With a large share of Africa’s proven oil and gas reserves unexploited and regulatory reforms strengthening the business environment across the continent, Africa has emerged as a highly competitive investment destination.

Atul Arya, Senior Vice President and Chief Energy Strategist at S&P Global Commodity Insights, explained that “There is no shortage of potential in Africa. The transition is going to be multidimensional and multi-fueled. In Africa, we have seen $58 billion invested in upstream activities in 2019 and it went down to $20 billion in 2020. We hope to see it hit $58 billion in the coming years again.”

Africa’s biggest producers continue to invest heavily in exploration and production aiming to increase output and exports. In 2024, Nigeria launched its latest licensing round, energy majors have resumed exploration in Libya while Angola is preparing to launch its next offshore bid round. These efforts will drive production growth in Africa, consolidating the continent’s position as a global supplier.

We made great discoveries over the last two years and we continue to have more interest coming in terms of exploration

“Nigeria has enormous potential. We have about 37 billion barrels of crude and 209 tcf of gas. However, we believe that we have a lot more than that. We believe that we can produce 2.5 million barrels per day (bpd) within the next year. Today, we produce 1.7 million bpd. By addressing our decaying infrastructure, we can boost output,” said Heineken Lokpobiri, Nigeria’s Minister of State for Petroleum Resources (Oil).

Angola has turned to regulatory reform to boost production. According to the country’s Minister of Mineral Resources and Petroleum, Diamantino Pedro Azevedo, “We started by changing the governance model of the sector, introducing two new regulators – one for upstream and one for mid and downstream – and we also instituted changes in the laws and fiscal regime.” This will strengthen export capacity and regional petroleum trade.

For Gabon, deepwater exploration is a significant opportunity for investors. Marcel Abéké, Minister of Petroleum, Gabon, said that “We have significant potential in the deep offshore waters. The majority of gas we have in Africa is in the deep waters. For now, we do not have the means to utilize those resources. We are here to call on big investors to come to Africa and explore.”

Accelerated field development is also a top priority for emerging producers in Africa. Namibia, for instance, is widely-considered the biggest frontier play worldwide. With a string of offshore discoveries made since 2022, the country is targeting first oil production in the Orange Basin by 2029.

“We made great discoveries over the last two years and we continue to have more interest coming in terms of exploration. Now, we are putting more emphasis on local content issues. Through local content, we will generate other economic activities within the Namibian economy. When you have an alignment, whether it’s projects or local content or regulations, everything is possible,” said Tom Alweendo, Minister of Mines and Energy, Namibia.

International oil companies like Chevron are driving a multi-energy approach to generate high returns and unlock new sources of sustainable energy for Africa. Liz Schwarze, Chevron’s Vice President of Global Exploration, explained that “The future energy mix will have oil and gas in it for much longer. As we grow our business worldwide and reduce the carbon intensity of our operations, one of Chevron’s strategic areas is Africa. This is because there is tremendous potential, from rocks and geology to a welcoming environment. Ultimately, this will enable us to deliver energy where it is most needed.”

Distributed by APO Group on behalf of African Energy Chamber.

Business

Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

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The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

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

 

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Beyond Stabroek: Guyana’s Offshore Basin Attracts New Wave of Exploration Investment

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Etu Energias

As ExxonMobil advances appraisal activity in Stabroek and new operators target frontier acreage, Guyana is attracting global capital and building a diversified offshore portfolio designed to sustain long-term growth

GEORGETOWN, Guyana, August 7, 2026/APO Group/ –Guyana’s transformation into one of the world’s fastest-growing oil producers is entering a new phase, with a growing network of IOCs expanding exploration activity across the country’s offshore basin. Beyond the landmark discoveries that first put Guyana on the global energy map, new drilling campaigns and licensing partnerships are creating a broader exploration ecosystem designed to support long-term production growth.

At the center of this momentum is ExxonMobil’s continued exploration and appraisal activity in the prolific Stabroek Block. The company has submitted a proposal for a 35-well exploration and appraisal drilling campaign, expected to run from 2028 through 2033, pending regulatory approval. The program would build on more than 30 commercial discoveries already made in the block, with drilling activity focused on evaluating new prospects and appraising existing discoveries to support future development opportunities.

Exploration activity is also extending into Guyana’s frontier acreage, with ExxonMobil advancing drilling operations at the deepwater Canje Block. The company has deployed the Noble Stena Carron drillship for exploration activity, highlighting continued industry interest in evaluating Guyana’s underexplored offshore potential beyond the established Stabroek Block.

Guyana’s strong exploration outlook comes as the country’s economy continues to benefit from rapid oil sector expansion, with hydrocarbons expected to remain a key driver of exports, government revenues and economic growth. As production scales up, attracting additional investment across exploration, services and infrastructure will be critical to supporting the next phase of development.

That momentum is being reinforced through partnerships established under Guyana’s 2023 offshore licensing round. A consortium comprising TotalEnergies, QatarEnergy and Petronas is advancing exploration activities in Block S4 under a five-year production sharing agreement signed with the government in late 2025. The award represents one of the first major outcomes of the licensing round and demonstrates continued international confidence in Guyana’s offshore resource potential.

Beyond the largest operators, a diverse group of companies is also expanding activity across Guyana’s offshore basin. Eco Atlantic is advancing exploration at the Orinduik Block; CGX Energy and Frontera Energy are progressing work in the Corentyne Block; Occidental is evaluating opportunities in the Roraima Block; while Ratio Guyana and Cataleya Energy hold interests in the Kaieteur Block. Together, these partnerships are broadening Guyana’s exploration landscape, increasing competition for acreage and creating opportunities for future discoveries.

As Guyana transitions from an emerging producer to a global energy hub, the next challenge will be converting exploration success into sustainable investment, local value creation and regional growth. These opportunities will be explored at Caribbean Energy Week 2027, held under the theme “Unlocking the Caribbean Energy Corridor: Oil, Gas, LNG & Investment for a New Global Hub.” Bringing together governments, IOCs, investors and technology providers, the event will examine how Guyana’s expanding partnerships can accelerate offshore development, strengthen regional energy cooperation and attract the capital needed to support the Caribbean’s evolving energy landscape.

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

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Energy Capital & Power Establishes London Entity, Expanding Global Platform for Energy and Mining Events

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Energy

The move strengthens ECP’s presence in the UK and Europe, and its ability to connect African and South American markets with global investors

LONDON, United Kingdom, August 6, 2026/APO Group/ –International events company Energy Capital & Power (ECP) (www.EnergyCapitalPower.com) has officially established its UK entity in London, marking a milestone in the company’s growth strategy and reinforcing its ability to deliver world-class energy and mining events and campaigns in the UK and Europe.

By establishing a presence in a key hub like London – the pre-eminent energy and mining finance center – ECP actively shapes the global energy conversation. The expansion positions ECP to better serve clients, partners and investors seeking to develop business opportunities between Africa, Europe, the Americas and energy markets worldwide.

Opening our UK company brings ECP closer to key investors in the global energy finance capital

The milestone comes as ECP strengthens its reach through a series of investment platforms that connect global capital to energy and mining projects. These include the Venezuela Energy Week London Showcase on July 30 – with over 300 delegates registered – and the annual Invest in African Energy Forum, held in Paris as the premier event connecting global investors to Africa’s energy transformation.

ECP hosts high level summits and investor conferences in leading energy and minerals producing countries in Africa and South America, including: Venezuela Energy Week; Angola Oil & Gas; MSGBC Oil, Gas & Power; African Mining Week; Libya Energy & Economic Summit; Congo Energy & Investment Forum; South Sudan Oil & Power; and Caribbean Energy Week. The company has hosted investor forums and supported licensing round roadshows in Houston, London and Paris since 2016.

“Opening our UK company brings ECP closer to key investors in the global energy finance capital,” states CEO James Chester. “Having a permanent presence in London further cements our footprint in Europe, enabling us to fulfil our mission to bring minerals and energy investment to diverse global markets.”

With teams located across Africa, Europe and the Americas, ECP has long-facilitated strategic engagement, market intelligence and industry convening, uniting investors with leading energy and mining projects.

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

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