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A Partner of the Future: Sonangol Targets Robust Oil & Gas Growth

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AEC

The AEC believes that Sonangol is a strategic partner for Angola’s oil and gas industry and will continue to play a major role in facilitating investment and driving project developments

LUANDA, Angola, June 14, 2024/APO Group/ — 

The African Energy Chamber (AEC) (www.EnergyChamber.org)– led by Executive Chairman NJ Ayuk – met with Sonangol CEO Sebastião Gaspar Martins in Luanda this week, where the parties discussed Sonangol’s vision for the oil and gas industry. Martins is speaking at the African Energy Week (AEW): Invest in African Energy conference this November – Africa’s premier energy event, hosted in Cape Town.

The AEC believes that Sonangol is a strategic partner for Angola’s oil and gas industry and will continue to play a major role in facilitating investment and driving project developments. With a focus on expanding exploration and production, the company plays a critical role in Angola’s efforts to boost its oil and gas industry and bolster economic growth.

Angola aims to produce 1.1 million barrels of oil per day (bpd) by 2027, with plans to reach two million bpd in the long-term. At the same time, the country aims to increase the share of natural gas in the energy mix to 25% by 2025, highlighting strategic opportunities for foreign investors and project developers. To achieve these goals, the country’s NOC Sonangol has undergone a transformation – underpinned by a privatization initiative spearheaded by the government. Now, Sonangol has emerged as a strong and reliable partner for oil and gas companies, and is committed to ushering in a new era of economic growth on the back of oil and gas development.

To support exploration and production, Sonangol is driving a series of projects in partnership with IOCs. The NOC – alongside project partners TotalEnergies and Petronas – made FID on the Kaminho deepwater project in May 2024. Comprising the Cameia and Golfinho fields, the project represents the first large deepwater development in the Kwanza Basin. Production is on track for 2028. Additionally, Sonangol is developing the Agogo Integrated West Hub Development Project in collaboration with international energy company Azule Energy. This project involves drilling 36 new wells and installing an FPSO with a production capacity of 120,000 bpd, a gas injection capacity of 230 million standard cubic feet per day, and a water injection capacity of 12,000 bpd. Scheduled for operational by late-2025, this initiative underscores Sonangol’s commitment to expanding oil production.

Additionally, in January, Sonangol announced the successful drilling of the second evaluation well in Block 11 of the onshore Kwanza basin. The drilling confirmed positive results in the Tobias field, greatly enhancing its potential. This positive outcome, alongside the success of the Tobias 13 well, positions Sonangol and its partners for the reactivation of production in the Kwanza basin by the end of the year.

Meanwhile, Sonangol’s strategic initiatives are not only focused on increasing oil production but also on embracing a more sustainable energy mix. The company’s commitment to boosting the share of natural gas reflects a broader trend towards cleaner energy sources. By integrating more natural gas into its energy portfolio, Sonangol aims to reduce carbon emissions and support global efforts towards energy transition. In December 2023, Sonangol inaugurated the Falcão Phase 2 gas project, enhancing the Angola LNG plant’s capability to supply gas to the Soyo 1 combined-cycle power plant. This initiative has increased processing capacity to 125 million cubic feet and extended gas distribution to industrial and petrochemical facilities in southern Angola.

“Sonangol is positioning itself as a key partner in Africa’s energy sector, driving significant advancements and fostering partnerships both locally and internationally. With a strategic focus on expanding E&P capabilities, Sonangol plays a central role in Angola’s ambitions to enhance oil and gas output,” states NJ Ayuk, Executive Chairman of the AEC. “Sonangol’s vision for Angola encompasses not only meeting domestic energy needs but also leveraging its expertise to support regional energy security, foster economic diversification and alleviate energy poverty.”

At the upcoming AEW: Invest in African Energy conference – scheduled for 4-8 November in Cape Town – Sonangol will play a leading role. A key event highlight will be the Invest in Angola Energies roundtable, where Sonangol’s participation is set to stimulate discussions among stakeholders, investors and policymakers on advancing Angola’s oil and gas sector through strategic investments and opportunities.

Distributed by APO Group on behalf of African Energy Chamber.

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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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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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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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