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Accra Investor Briefing: Ghana National Petroleum Corporation (GNPC) EXPLORCO to Spud Voltaian Well in Q1 2026

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Accra Investor Briefing

The Invest in African Energies: Accra Briefing, held on April 14, highlighted strategic investment opportunities and latest developments in Ghana’s oil and gas sector in anticipation of African Energy Week later this year

ACCRA, Ghana, April 15, 2025/APO Group/ –EXPLORCO, the exploration division of the Ghana National Petroleum Corporation (GNPC), is set to spud its first exploration well in the Voltaian basin in Q1 2026, targeting new leads and play-opening discoveries. The company is currently conducting research to support exploration and is inviting partners to help unlock this frontier basin.

Speaking at the Invest in African Energies: Accra Briefing on April 14, 2025 – Michael Aryeetey, Managing Director of EXPLORCO, emphasized, “We will go ahead with the Voltaian project because it is a key project for the country. This is historical because no exploration well has been drilled there since 1974. Because there is so much to do in the basin, the strategy is to invite other partners to explore and drill in the basin. We are looking for credible partners.”

The investor briefing provided insights into Ghana’s upstream investment opportunities, highlighting how infrastructure-driven exploration has become a top priority for the country. This strategy is expected to attract diverse investments from exploration and production firms. According to Richard Gyan-Mensah, Deputy Minister of Energy and Green Transition of Ghana, “To investors, Ghana is open for business. There are vast unlicensed blocks offshore available through direct negotiations. There are also partnership or farm-in opportunities for some of the contract areas. Risk has been successfully reduced in some of these blocks.”

Ghana is back, it is ready for investment and ready for energy dominance

NJ Ayuk, Executive Chairman of the African Energy Chamber (AEC), commented that this approach reflects a “Ghanian-first strategy that benefits everyone. Ghana is back, it is ready for investment and ready for energy dominance. As we move forward, I want to encourage [stakeholders] to believe in the potential of Ghana. Believe in this country, believe in this energy sector.”

Echoing these remarks, David Pappoe, President of the AEC in Ghana, stated: “Ghana’s energy sector is at a pivotal stage and we need investment. We are here to discuss how we can drive investment into Ghana.”

To further support upstream investment, Ghana has been enhancing its regulatory and fiscal environments. Victoria Emeafa Hardcastle, Acting CEO of the Petroleum Commission of Ghana, noted, “A lot of work has been done on the regulatory side, and we will soon come to the public and announce these. The fiscal regime is something we are looking at, including the length of time taken to get permits and reporting issues and audits.”

These efforts are aimed at boosting spending in the upstream sector to mitigate production decline from Ghana’s mature fields. Edward Abambire Bawa, CEO of oil and gas company GOIL, stated, “From 2019 until now, production declined by 25%, due to many attributes such as lack of investment. We are currently assessing opportunities.”

One of the government’s main priorities is to increase production at the active Jubilee and TEN fields. Victor Kofi Sunu-Attah, former Advisor to the CEO and General Manager, Engineering at GNPC, explained, “We have 640 million barrels in the Jubilee, TEN and surrounding fields and 1.2 trillion cubic feet of gas in place. We are doing research to ensure that these resources can be brought to the surface. We invite investors to partner with companies that have 2D and 3D seismic on their blocks and are ready to drill.”

The Invest in African Energies: Accra Investor Briefing served as a precursor to this year’s African Energy Week: Invest in African Energies conference, taking place from September 29 to October 3 in Cape Town. The event provided a platform to discuss commercial oil and gas opportunities in Ghana, setting the stage for further discussions and deal-making in Cape Town.

Distributed by APO Group on behalf of African Energy Chamber

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Golar Liquefied Natural Gas (LNG),Chief Commercial Officer (CCO) Joins Invest in African Energy (IAE) 2025 Speaker Lineup

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Liquefied Natural Gas

Federico Petersen, Chief Commercial Officer of Golar LNG, will share his expertise on the future of LNG in Africa and the role of floating LNG solutions in driving the continent’s energy transformation at the Invest in African Energy Forum in Paris next month

PARIS, France, April 25, 2025/APO Group/ –Federico Petersen, Chief Commercial Officer (CCO) of Golar LNG, will join the upcoming Invest in African Energy (IAE) 2025 Forum in Paris to discuss scaling LNG in Africa, overcoming infrastructure challenges and attracting investment. With Africa rapidly expanding its gas infrastructure, Petersen’s insights are expected to showcase how innovative LNG solutions can support sustainable energy growth across the continent.

As a global leader in floating LNG (FLNG) solutions, Golar LNG is advancing gas monetization across Africa. The company is actively involved in several key projects, including the Hilli Episeyo FLNG facility off the coast of Cameroon, operational since 2018, which plays a crucial role in unlocking regional gas resources with cost-effective, scalable LNG production. Golar LNG is also a key player in the Greater Tortue Ahmeyim project offshore Senegal and Mauritania, where it owns and operates the Gimi FLNG, which received its first feed gas in January 2025, marking a major milestone in LNG export operations.

IAE 2025 (https://apo-opa.co/3ECl25bis an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

Additionally, Golar LNG is exploring further opportunities across the continent, including ventures in the Republic of Congo and Nigeria. In June 2024, the company signed an agreement with the Nigerian National Petroleum Corporation to deploy an FLNG vessel in the Niger Delta, utilizing 500 million cubic feet of gas per day to generate LNG, propane and condensate, with a final investment decision expected later this year.

The growth of LNG in Africa is set to accelerate in the coming years as key markets seek to tap into their vast natural gas reserves. As such, Petersen’s participation at IAE 2025 is poised to showcase the pivotal role of FLNG in enhancing energy security, driving economic growth and fostering regional cooperation.

As the global energy landscape shifts toward cleaner, more sustainable sources, LNG will remain crucial in powering Africa’s future, offering a reliable transition fuel to support the continent’s ambitious energy goals. With IAE 2025 as a platform for high-level dialogue and partnerships, the forum will provide an invaluable opportunity for stakeholders to explore the latest LNG developments, deepen collaboration and drive investments that will shape the future of African energy.

Distributed by APO Group on behalf of Energy Capital & Power

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VFD Group Plc Reports Remarkable Growth in Audited Financial Statement for 2024 Financial Year

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VFD Group Plc

Net investment income surged by 95% to N59.0 billion, despite a spike in investment expenses to N15.5 billion from N7.4 billion in 2023

LAGOS, Nigeria, April 25, 2025/APO Group/ –In a stunning turnaround, VFD Group Plc (https://VFDGroup.com), a proprietary Investment firm, has announced its audited financial results for the year ended December 31, 2024, showcasing exceptional growth. The journey to this milestone was paved with strategic initiatives and a relentless pursuit of innovation.

Just a year ago, businesses globally struggled with macroeconomic headwinds, and VFD Group, not an exception, reported a pre-tax loss of N1 billion in 2023. However, the team’s dedication and forward-thinking approach yielded impressive results. The Group reported a pre-tax profit of N11.2 billion, representing a 1202% year-on-year growth.

Net investment income surged by 95% to N59.0 billion, despite a spike in investment expenses to N15.5 billion from N7.4 billion in 2023. Net revenue increased by 90% to N71.0 billion, while operating profit grew by an impressive 104% to N48.8 billion.

The company’s financial performance was nothing short of remarkable, with notable achievements including:

– Investment and similar income: N74.6 billion, up 98% YoY

– Net investment income: N59.0 billion, up 95% YoY

– Net revenue: N71.0 billion, up 90% YoY

– Operating profit: N48.8 billion, up 104% YoY

– Pre-tax profit: N11.2 billion, a significant turnaround from a N1 billion loss in 2023

As of April 22, 2025, VFD Group’s market capitalisation surged by 116% to hit N121.6 billion from N56.2 billion year to date.

These outstanding results reflect the success of our team’s efforts. As VFD Group looks to the future, it remains committed to delivering exceptional value to its customers and stakeholders.

Distributed by APO Group on behalf of VFD Group Plc.

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African Energy Chamber (AEC) Champions Smart Policy, Strategic Partnerships to Advance Namibia’s Oil & Gas Discoveries

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African Energy Chamber

The African Energy Chamber is a strategic partner of the Namibia International Energy Conference, which kicked off today in Windhoek

WINDHOEK, Namibia, April 24, 2025/APO Group/ –As a strategic partner of the Namibia International Energy Conference (NIEC), the African Energy Chamber (AEC) (www.EnergyChamber.org) is calling for a deliberate and accelerated approach to moving Namibia’s recent oil and gas discoveries into production – emphasizing the importance of speed, investor confidence and strategic collaboration.

Speaking during a high-level panel at NIEC 2025, AEC Executive Chairman NJ Ayuk urged Namibia to seize the momentum of its frontier discoveries, while avoiding the pitfalls that have stalled progress in other hydrocarbon-rich African nations. He emphasized that Namibia’s path to becoming a regional energy hub hinges on its ability to learn from international case studies and execute deals that ensure long-term national benefit.

“Namibia needs to move fast, produce quickly and negotiate the best deals with its partners to ensure the rapid development of its oil discoveries,” Ayuk stated. He pointed to Guyana as a prime example, noting how the South American country developed a robust strategy focused on national benefit and successfully attracted billions in investments to fast-track its energy projects.

Namibia needs to move fast, produce quickly and negotiate the best deals with its partners to ensure the rapid development of its oil discoveries

In contrast, Ayuk cautioned against the delays experienced by countries like Mozambique, Tanzania, Uganda and South Africa, where production was significantly postponed, leading to rising project costs and lost opportunities. “There is a growing movement trying to discourage Africa – and Namibia – from producing its oil and gas. We must resist that,” he added.

Reinforcing the need for investor-friendly terms, Justin Cochrane, Africa Upstream Regional Research Director at S&P Global Commodity Insights, highlighted the necessity of contract stability, transparent data-sharing and a balanced approach to fiscal negotiations. “It’s natural that Namibia wants to maximize its benefits, but pushing too hard on IOCs can result in getting 100% of nothing… The first milestone must be achieving first oil,” said Cochrane.

Representing Namibia’s national oil company, Victoria Sibeya, Interim Managing Director of NAMCOR, stressed that the company is actively engaged in every phase of the industry, from data acquisition and exploration to shaping the downstream and midstream vision. “We are not just bystanders,” said Sibeya. “NAMCOR is deeply involved in data acquisition, exploration and the exchange of knowledge and technology with our partners. We are also preparing to invest in downstream and midstream sectors to ensure that we can add value once production begins.”

Echoing the call for local development, Adriano Bastos, Head of Upstream at Galp, underscored the need for early and continuous skills development – proposing that Namibians be trained abroad in specialized areas like FPSO operations to ensure they are prepared to lead once production begins at home. “Namibia has capabilities that are rare in the region, but more collaboration with international partners is essential to build the local skills base,” he said.

Bastos noted that Namibians make up 25% of Galp’s workforce in the country, including its first female offshore base manager. “We are proud of the strides we have made. Our nationalization plans are aggressive, and we work closely with [the Namibian Ports Authority] and other local entities to implement meaningful capacity-building projects.”

As Namibia stands on the cusp of transforming exploration success into production, the message from industry leaders is clear: time, trust and talent will determine the country’s trajectory. Through cross-border collaboration, pragmatic deal-making and a strong national vision, Namibia can emerge not just as an oil producer – but as a continental model for inclusive, forward-thinking energy development.

Distributed by APO Group on behalf of African Energy Chamber

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