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African Energy: Making it work for everybody (By Luca Vignati)

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African Energy

When new energy opportunities open up on the continent, the key to developing them successfully lies in a proven set of principles: sustainability, local partnerships and mutual benefit

CAPE TOWN, South Africa, August 19, 2024/APO Group/ — 

By Luca Vignati (https://apo-opa.co/3yL5V6E) Upstream Director at Eni. 

Africa is a continent with a growing economy demanding sustainable development for its millions of inhabitants. This is particularly true as it is such a “young continent” in terms of population age. At the same time, the continent is blessed with multiple energy opportunities to fuel this transition phase – from oil to gas to renewables, such as solar and wind, to agri-feedstock for biofuel. 

Africa is now in an exciting position to address all the elements of the energy trilemma (security, affordability, and sustainability) in the framework of a just transition.

For us at Eni, being an integrated energy company that has been committed to Africa since the late 1950s, we continue to see the continent as a fascinating energy-investment frontier because of the variety of energy vectors from traditional to renewables and so we continue to invest here. 

The year 2023 was very fruitful for us delivering two key projects in Sub-Saharan Africa, namely Baleine in Cote d’Ivoire and Congo LNG in the Republic of Congo, while also reaching the final investment decision (FID) on the Structures A&E project in Libya, the first major project in the country for decades. All these were possible as we continue to solidify our fast-track development project model, capitalising on our technical expertise, such as our “development while appraisal” strategy.

The continent is fertile ground for business expansion, from established producers in North Africa to emerging territories such as Mozambique and Cote d’Ivoire where we again confirmed our exploration success with Calao in early 2024. By adopting a neutral stance on energy vectors and technologies, we aim to foster socioeconomic development that prioritises both affordability and sustainability, leaving no one behind.

Collaborative process

African energy development requires collaboration, with exciting opportunities for stakeholders – businesses, governments, and communities – to work together for the best possible outcomes.

Effective dialogue and shared values remain pivotal for successful collaboration. This entails ensuring access to energy at the domestic level as well as to international markets, all while maintaining its affordability and minimising carbon emissions. For such reason, we retain that gas is emerging as the optimal vector to address these three crucial elements.

In pursuing the development of the energy industry, and its challenge in this energy transition scenario, we believe in an approach of inclusivity and mutual benefit that grows local economies –by integrating local content into development projects as well as collaborating on sustainability initiatives.

As  discoveries continue to be made in new African frontiers, from Cote d’ Ivoire to the Orange basin, it’s important to bear in mind that new frontiers and mature countries both require an approach rooted in sustainability and local content, intertwined within the trajectory of growth.

We believe in an approach of inclusivity and mutual benefit that grows local economies –by integrating local content into development projects

From the very inception of projects, it is vital to maximise benefits and deliver tangible results for host countries.  In line with our values of dual flag model, Eni looks to integrate local-content strategies throughout the project life cycle, from exploration to production, which includes not only developing local business capabilities and workforces, but also running training initiatives in-house, or with non-profit organisations and international agencies.

Recently in Mozambique and Cote d’Ivoire, we have seen the benefits of maximising the involvement of nationals in providing goods and services, promoting the transfer of skills and technologies, bolstering employment opportunities and fostering a dynamic business environment in both countries. We continue to be committed that our future projects such as Coral North and further Baleine phases will continue expanding local content and further strengthen these economies.

We continue uncovering business opportunities, leveraging phased and fast-tracked projects. For example, Baleine will further increase its production with its Phase 2 start up by Q4 2024 targeting a total field production of up to 60kbopd and 70MMscf/d of gas – confirming immense potential!

This success owes much to open engagement with local authorities and contractors that stems from a shared vision from the projects’ beginning, underpinned by common goals and a win-win approach of mutual trust.

The same principles opened the way for the Calao discovery in Block CI-205 in Cote d’Ivoire – a commercial success in a petroleum play where others had previously been unable to succeed.

Eni has been present on the continent for decades, creating a strong bond based on equal partnership and dialogue, embracing the cultural diversity and uniqueness of each country.

This similar approach is promoted in our first business combination in the continent, Azule Energy – a bp and Eni company – operating in Angola who could well become a regional player in the Orange basin. As the frontier develops, Azule could leverage on approaches that have been so successful in other geographies to continue to create real local value in Angola and regionally. 

New partnership approaches

In recent years, our business model has undergone a transformative evolution, from technical and managerial competencies to deliver projects and operational results, to a deeper understanding of our industry. We have embraced the complexities, all while remaining committed to our hallmark: delivering the best time-to-market results (two-three years from exploration success).

Recognising the need for further innovation, we’ve unlocked new capabilities, fostering shared values between headquarters and our geographic units. Integrated, entrepreneurial local teams are better able to articulate and boost local approaches while relying on central technical competences. This allows us to efficiently develop solutions to fast-track projects, improve plant operations, and apply lessons learned.

This efficient shared use of resources is what attracts partners in the African energy sector, ultimately ensuring operational and business effectiveness, quick time to market, real value creation and true progress towards Net Zero.

Distributed by APO Group on behalf of AOW: Investing in African Energy.

Business

ACG CEO Paulo J. Cruz to Speak at the Angola Access & Investment Conference 2026 in Luanda on How Sport and Entertainment Districts Can Drive Inclusive Economic Growth Across Africa

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ACG

Cruz joins heads of state, ministers, ambassadors, and CEOs from over 60 international markets at one of Angola’s flagship investment conferences, connecting sport infrastructure to job creation, accessibility, and sustainable development

LUANDA, Angola, October 14, 2026/APO Group/ –African Collaborations Group (ACG) (www.ACGafrica.com), the leading strategic project origination and collaboration platform focused on the industrialisation of sport in Africa through the origination of bankable sport and entertainment district ecosystems, today announced that its CEO, Paulo J. Cruz, will speak at the Angola Access & Investment Conference 2026 (AAIC) (www.aaic.ao) in Luanda, Angola, from 14 to 17 October 2026.

 




 
 

The AAIC is organised by Expo Connect Angola in partnership with Skyliam Properties, the Cópia Group, and Angolan Business Beyond Borders, with the support of the Angola-Mozambique Chamber of Commerce and Industry (CCIAM) and the Angolan Ministry of Tourism and the Ministry of Telecommunications, Information Technologies, and Social Communication. The conference brings together heads of state, ministers, ambassadors, CEOs, investors, development banks, and business leaders from over 60 international markets.

Mr Cruz will address how ACG’s origination of integrated sport and entertainment districts contributes directly to inclusive economic growth. His intervention will focus on how sport infrastructure, when designed as a financially self-sustaining urban ecosystem, becomes a catalyst for large-scale job creation, skills development, accessible infrastructure, and long-term economic diversification.

Sport infrastructure has the power to be one of the most inclusive economic assets a country can build

The AAIC’s focus on accessibility and inclusion aligns directly with ACG’s approach to sport and entertainment district development. A Victory District™ is designed from inception to serve the widest possible community: creating permanent employment across dozens of professions, providing professional sport training facilities for young athletes, and generating economic activity that benefits surrounding neighbourhoods year-round.

“Sport infrastructure has the power to be one of the most inclusive economic assets a country can build,” said Paulo J. Cruz, CEO of ACG. “A Victory District™ does not just create stadiums. It creates thousands of permanent jobs, from hospitality to broadcast production, from sport coaching to facility management. It creates training pathways for young athletes. And it creates an urban ecosystem that generates economic activity 365 days a year. That is inclusive growth in practice, not in theory. I am honoured to share that vision at the AAIC alongside some of Africa’s most influential investors and decision-makers.”

The AAIC programme includes official MoU signing ceremonies, B2B investment rounds, VIP executive networking with senior government and business leaders across 10 dedicated Business Lounges, and the inauguration of Angola’s first assistive technology factory. The conference covers priority sectors including energy, mining, accessible tourism, agriculture, logistics, health, and infrastructure.

ACG’s Victory District™ framework is designed to originate integrated, mixed-use sport and entertainment districts that move beyond single-venue development models. Each district combines stadiums, indoor arenas, training academies, hotels, conference centres, retail, entertainment, residential, and commercial space within a single masterplanned development, financed by private and institutional capital without reliance on public subsidy.

Mr Cruz brings more than 28 years of experience across Africa, the Middle East, and Europe in originating, structuring, and delivering large-scale infrastructure, urbanisation, and real estate development initiatives. Prior to ACG, he served as Senior Vice President at DAMAC Group, the largest private real estate developer in the Middle East, and as Group CEO of LandAfrique, a pan-African development platform focused on industrial parks, infrastructure, housing, and power projects across Sub-Saharan Africa.

Distributed by APO Group on behalf of African Collaborations Group (ACG).

 

 




 

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Venezuelan Oil and Gas Opportunities Take Center Stage at African Energy Week (AEW) 2026

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Venezuela

The country is promoting new hydrocarbons contracts, upstream and refining opportunities, and technical partnerships with Africa to attract investment and strengthen local energy sector capabilities

CAPE TOWN, South Africa, October 14, 2026/APO Group/ –Venezuela is seeking to attract international investment into its oil and gas sector while building stronger energy partnerships with African countries. Revised hydrocarbon legislation offers new entry routes for private operators, while cooperation on technical training could help African markets draw on Venezuela’s industry expertise. These opportunities featured at the Venezuela Global Investment Forum during African Energy Week (AEW) 2026 in Cape Town.

 




 
 

Ricardo Gomez, Venezuela’s Vice Minister of Commercial Policy, outlined the country’s investment proposition, highlighting 303 billion barrels of proven oil reserves and 193 trillion cubic feet of natural gas.

“Venezuela combines a large hydrocarbon resource base with refining infrastructure and a market that needs reliable energy,” he said. “The opportunities extend from upstream projects to downstream and refining.”

The country’s amended Organic Hydrocarbons Law introduces new ways for international companies to enter the market. Hydrocarbon production participation contracts allow private operators to manage designated assets, oversee operations and market production under negotiated terms. Agreements can extend for 25 years, offering a longer investment horizon for field development and rehabilitation.

Restructured joint venture companies provide another route, retaining majority state ownership while allowing international partners to take on operational responsibilities through approved agreements. Direct ministerial contracts and strategic alliances offer additional opportunities in field redevelopment, oilfield services and infrastructure.

Venezuela is seeing a lot of interest as a result of aggressive fiscal and regulatory changes that are making the country more attractive

Potential investments span heavy-oil production in the Orinoco Belt, mature onshore fields, offshore gas, pipeline rehabilitation, export terminals and refinery upgrades. Venezuela’s target of signing 105 definitive oil contracts by year-end reflects its wider effort to attract operators and accelerate project development.

Scott Gilbert, CEO and Executive Director of Corcel Plc and Non-Executive Chairman of Apertura Energy, highlighted investor interest in the changing regulatory environment. “Venezuela is seeing a lot of interest as a result of aggressive fiscal and regulatory changes that are making the country more attractive,” he said.

Alongside these commercial opportunities, Venezuela is promoting its technical expertise through the Venezuelan University of Hydrocarbons (UVH). Celia Bejarano, the university’s President, explained how the institution trains engineers and geologists in geophysics, reservoir engineering, well management, natural gas and petrochemicals.

“The Venezuelan University of Hydrocarbons was created to deliver a specialized institution where the country can train its own recruits to develop its own premier resources,” Bejarano said.

Through its Africa-Venezuela Energy Partnership with the African Energy Chamber (AEC), UVH is advancing technical training, knowledge exchange and workforce development. The initiative could help African energy projects apply Venezuela’s experience in heavy-oil production and offshore engineering while strengthening local capabilities. Rene Awambeng, founder and managing partner of Premier Invest, highlighted this opportunity for African developers.

“When we are developing our assets here, we always import talent,” he said. “With the Venezuelan University of Hydrocarbons, we can actually leverage Venezuela’s immense experience to support local content development here in Africa.”

Also speaking during the discussion, NJ Ayuk, Executive Chairman of the AEC, emphasized the strategic value of closer ties between the regions. “Our energy industry has an amazing ally in Venezuela,” he said, describing the country as “open for business and ready to partner with Africa.”

Distributed by APO Group on behalf of African Energy Chamber.

 




 

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Sonangol Cites Commitment to Privatization as Company Charts Next Growth Phase

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Katambi

Katambi-2 appraisal, infill drilling and downstream construction frame the national oil company’s priorities as it marks its 50th anniversary

CAPE TOWN, South Africa, October 14, 2026/APO Group/ –Angolan National Oil Company Sonangol is advancing plans for an initial public offering (IPO) while expanding its upstream portfolio and investing in Angola’s domestic refining capacity, as the national oil company charts its next phase of growth following its 50th anniversary in 2026. Speaking at the opening ceremony of African Energy Week (AEW) 2026, Executive Board Member Osvaldo Inácio reaffirmed the company’s commitment to privatization, alongside efforts to increase production, progress new developments and translate Angola’s oil and gas resources into broader economic growth.

 




 
 

 

“We want to make sure that we do it in a way that, when you buy your shares, you are happy with the performance of those shares. We are doing the internal work required to make sure that when we get to that point, it’s a successful story,” he said.

We want to make sure that we do it in a way that, when you buy your shares, you are happy with the performance of those shares

Sonangol’s 50th anniversary comes as Angola’s NOC develops opportunities across exploration, producing assets and domestic processing. Its next investment phase requires capital and technical partners to turn appraisal results into developments while delivering refinery infrastructure and expanding the value retained from Angola’s oil and gas production.

“We are thinking about what the next 50 years will be like, focusing on producing to transform. We are not only looking at managing resources but how we translate those resources into overall development in the country,” he said.

Sonangol’s September account of its Katambi-2 work in Block 24 described a completed formation test in a non-associated gas reservoir, providing further evidence for assessment of the field’s development potential. In its producing portfolio, the company and its partners also reported approximately 100 meters of net oil pay at PAC 416 in Block 3/05, as part of a program intended to increase operated production. The results give Sonangol a technical basis for future investment, while appraisal, development design and commercial arrangements remain necessary steps.

“If you look at our portfolio, we have both operated and non-operated assets. The focus is on making sure we are doing everything we can to make sure those assets are still producing at the highest rate possible. New developments such as Block 3/05 are advancing. We are also part of Kaminho with TotalEnergies,” Inácio shared.

Downstream, Angola’s government reported in September that the Lobito refinery was approximately 26% physically complete, with around $1.6 billion invested and completion envisaged for 2029. A potential petrochemical complex was under study. Alongside Cabinda’s initial 30,000-bpd refining phase, Lobito gives Sonangol’s diversification program a concrete industrial focus, with financing, construction progress and product marketing central to the next stage.

Distributed by APO Group on behalf of African Energy Chamber.

 




 

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