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Egypt, African Development Bank Group sign memorandum of understanding on the hosting of the 2023 Annual Meetings

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African Development Bank

The Annual Meetings are the Group’s topmost statutory event

CAIRO, Egypt, September 13, 2022/APO Group/ — 

The Government of the Arab Republic of Egypt and the African Development Bank Group (www.AfDB.org) on Monday signed a memorandum of understanding on the hosting of the Bank Group’s 2023 Annual Meetings in May next year.

The meetings, which comprise the 58th annual assembly of the African Development Bank and the 49th meeting of the African Development Fund—the African Development Bank Group’s concessional window for low-income countries—will hold from the 22nd to 26th of May 2023 in the Egyptian resort city of Sharm El Sheikh.

The Annual Meetings are the Group’s topmost statutory event. They provide the stage for its boards of governors and management to review the organization’s activities over the previous year. The 2023 meetings will also provide an opportunity for leaders to take stock of Africa’s response to the growing threat posed by climate change and the impact of the situation in Ukraine on Africa’s food security and its untapped natural resources.

The Acting Governor of Egypt’s Central Bank, Hassan Abdalla—who is the current chair of the Bank Group’s Boards of Governors—signed the memorandum on behalf of his country. African Development Bank Group Secretary-General Vincent Nmehielle signed on behalf of the institution. Also present was the African Development Bank Group’s Executive Director for Egypt and Djibouti, Ahmed Zayed, who is also Dean of the Board of Directors.

Egypt’s hosting of the African Development Bank Group’s Annual Meetings falls within Egypt’s strategic efforts to promote African integration

Egypt has been a founding member of the African Development Bank Group since 1964 and is one of the largest regional member country shareholders. The African Development Bank Group’s cumulative investments in Egypt amount to close to $7 billion, with an active portfolio of $1.4 billion.

Egypt was selected to host the 2023 event following the country’s expression of interest in hosting the meeting for the 2022 to 2027 cycle. “This was made possible, amongst others, by the high-quality standards that Egypt possessed in meeting the requirements for hosting the Annual Meetings of the Bank Group,” Secretary-General Nmehielle said.

Abdalla underscored the African Development Bank Group’s lead role as a catalyst for Africa’s economic development. He said Egypt considered hosting the meetings an essential contribution to the continent’s development course.

“Egypt’s hosting of the African Development Bank Group’s Annual Meetings falls within Egypt’s strategic efforts to promote African integration, and to provide the needed accessible funds to support African economies, particularly with the current global challenges,” Abdalla said.

Nmehielle said the signing of the memorandum—which defines the host country’s responsibilities and outlines other requirements for hosting the meetings—marked the commencement of planning for the 2023 event.

Nmehielle said: “The African Development Bank is pleased that preparations for the 2023 Annual Meetings have commenced. This memorandum of understanding we have just signed reflects our alignment on the 2023 Annual Meetings. It also signals that as parties to this agreement, we are ready to move forward with the successful organization of the 2023 Annual Meetings in Sharm El Sheikh—also known as the City of Peace.”

He added: “On behalf of Dr. Akinwumi Adesina, President of the African Development Bank Group, I wish to extend our sincere appreciation to H.E. Mr. Abdel Fattah Al Sisi, President of the Arab Republic of Egypt, for his staunch support and commitment to the African Development Bank Group,”  He conveyed the bank’s gratitude to the Egyptian government for its “wonderful hospitality”.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

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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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