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African Energy Week (AEW) 2024: Petrosen Targets Final Investment Decision (FID) for Yakaar-Teranga in 2025, Seeks Third-Party Partner

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Petrosen

Speaking at an ‘Invest in MSGBC Energies’ session at AEW: Invest in African Energies 2024, Petrosen’s Thierno Ly announced plans to take FID for the Yakaar-Teranga project in 2025

CAPE TOWN, South Africa, November 7, 2024/APO Group/ — 

The Yakaar-Teranga project – situated offshore Senegal – is expected to make a Final Investment Decision (FID) in 2025, with production starting between 2028 and 2029, said Petrosen Director General Thierno Ly.  

Speaking at a Technip Energies-sponsored Invest in MSGBC Energies panel discussion at African Energy Week: Invest in African Energies, Ly explained that the project focuses on producing gas for the domestic market.  

“We are working with our partner Kosmos Energy [on the project]. We are in the final stages of the project and are looking for a partner to join us to bring added value to this project. By end of year, we anticipate a third-party to join us,” Ly stated.  

The Yakaar-Teranga project is just one of many underway across the region. Senegal achieved a milestone in 2024 with the start of production at the Sangomar oilfield development. Serving as the country’s first offshore oil project, the $5.2 billion project has a capacity of 100,000 barrels per day. Senegal also has 16 offshore blocks available for tender and expects the first phase of the Greater Tortue Ahmeyim (GTA) LNG development to start operations shortly.  

“Sangomar was a major milestone for the country,” said Papa Samba Ba, Director of Hydrocarbons, Ministry of Petroleum and Energies, Senegal. “This project means that we can supply affordable, accessible and sustainable energy to its population. This is a top priority and vision of the government.”  

For Mauritania, GTA represents just the start of its energy ambitions. The country is also home to the 13 trillion cubic feet (tcf) BirAllah development, is offering 15 offshore blocks for exploration in 2024 and is promoting investment in renewable energy and mining.   

This project means that we can supply affordable, accessible and sustainable energy to its population

“Building on three elements – namely, gas, mining and renewables – we have set up an integrated energy vision that aims to position the country as a major exporter. Our vision it to have universal access to electricity by 2030 and we need all these energies to do this,” said Moustapha Bechir, Senior Advisor: Upstream, Mauritania’s Ministry of Petroleum & Energy.  

Beyond Senegal and Mauritania, neighboring countries in the MSGBC region are promoting offshore block opportunities. Guinea-Conakry, for example, is currently finalizing the terms of a 22-block bid round, which is expected to bring new players to the market. The country – strategically located in the heart of the MSGBC region – aims to integrate not only its only energy industry with other sectors such as mining, but those of regional neighbors. 

“We are busy exploring and one of the critical things we want to highlight is that this is the moment to invest in the petroleum sector in Guinea. Our geological position within the MSGBC basin is optimal. This allows you to connect your investments with other countries in the region,” said Lanciné Conde, Director General of Guinea Conakry’s NOC Société Nationale des Pétroles.  

The Gambia also has potential for major discoveries offshore. The country’s Blocks A2 and A5 lie in proximity to the 230-million-barrel Sangomar field in Senegal. According to Lamin Camara, Permanent Secretary, Government of The Gambia, “We have seen developments taking place in Mauritania and Senegal and continue to accelerate our exploration. We have changed our strategy, and are now in direct negotiations with players to explore resources.” 

Major operators such as Golar LNG, AGL Group and Technip Energies continue to drive projects forward across the region. Golar LNG, for example, aims to utilize its innovative FLNG technology to unlock additional commercial reserves.  

“FLNG is scalable and enables access to export markets. There is a commercial flexibility that it holds. There is a technology available to the basin which fits both large-scale projects and smaller start-ups. Those two aspects married together, will increase the likelihood of a commercial discovery,” said Anthony Barker, EVP-Commercial, Golar LNG.  

For Technip Energies, the region stands to benefit from diversified project solutions. Dominique Gadelle, Vice-President Early Engagement, Gas & Low Carbon Energies Business Line, Technip Energies, explained that “There is no single solution when we look at the MSGBC region. We see projects with massive reserves and some with smaller reserves, and these might not have the same development model. There is a fit-for-purpose solution for all these developments.”  

AGL Group sees an opportunity for local companies to enhance their role in the emerging MSGBC oil and gas industry. According to Sidi Ahmed Abeidna, CEO, SOGECO SA, AGL Group, stated that “We play the role to drive local content, supporting local companies integrate their services and bring their expertise to international standards. AGL is investing around EUR 500 million in 45 countries across various projects.”  

Distributed by APO Group on behalf of African Energy Chamber.

Business

SLB commissions new fluids systems plant in Pemba to support Mozambique’s offshore energy development

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Mozambique

New facility expands in-country drilling and completion fluids capability, advancing the next phase of SLB’s growth in Mozambique

PEMBA, Mozambique, October 9, 2026/APO Group/ –SLB (NYSE: SLB) (www.SLB.com) announced the opening of a new fluids systems plant in Pemba, Mozambique. The new facility strengthens in-country capacity to prepare, store and deliver drilling and completion fluids for offshore operations, reinforcing the infrastructure needed as Mozambique’s offshore activity grows and its role as a strategic energy hub for East Africa continues to expand.

The commissioning of the plant, also known as a liquid mud plant, coincides with SLB marking 70 years of operations in Mozambique. It reflects the company’s long-term commitment to investing in people, infrastructure and capability that support the country’s long-term offshore energy development plans.

 




  

With an initial storage capacity of 21,000 barrels, the liquid mud plant provides a scalable platform for future growth, supporting multiple customers and rising offshore activity while improving logistics and enhancing operational flexibility.

As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions

“As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions,” said Miguel Baptista, Central, East and Southern Africa, Managing Director, SLB. The new liquid mud plant strengthens local energy infrastructure, expands opportunities for local content development, and enhances our ability to support customers as they deliver some of Africa’s most significant offshore energy resources.”

The liquid mud plant project was delivered with strong local participation and that momentum is expected to continue into operations. During project delivery, more than 100 jobs were created in Pemba with nationals representing 80% of the workforce, reflecting a focus on building local capability.

The project was delivered with a strong focus on safety, operational integrity, and quality, achieving more than 67,000 hours worked without a recordable safety incident.

This key infrastructure strengthens SLB’s ability to support consistent service quality and enhance supply chain readiness for increasing offshore activity across Mozambique, supporting customers execute safely and efficiently while developing local skills and expertise.

Key Points:

  • SLB has commissioned a new fluids system plant in Pemba, expanding in-country drilling and completion fluids capability for offshore operations.
  • With an initial storage capacity of 21,000 barrels, the facility provides a scalable platform to support growing offshore activity in Mozambique.
  • The investment marks the next phase of SLB’s growth in Mozambique, strengthening local capability and supporting long-term offshore energy development.

Distributed by APO Group on behalf of SLB.

 

 




 

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South African Energy Storage Association (SAESA) welcomes 4,600 MW battery storage prioritisation and calls for integrated energy planning

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Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply

JOHANNESBURG, South Africa, October 9, 2026/APO Group/ –The South African Energy Storage Association (SAESA) (www.SAESA.org.za) welcomes the prioritisation of 4,600 MW of battery energy storage under the first Integrated Resource Plan (IRP) 2025 Section 34 determination.

 




  

The timing is significant. Recent Integrated Energy Plan (IEP) modelling and assumptions discussions highlighted a fundamental shift that South Africa’s energy planning now needs to capture: we cannot plan the future power system by counting megawatts of generation alone.

We must plan for when energy is available, where it is available, how it moves through a constrained grid and how it is stored and dispatched when the system needs it most.

The announcement reinforces that shift. Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply.

For SAESA, the message for the IEP is clear: storage, flexibility and system services must be modelled as integral components of South Africa’s future electricity architecture, with their contribution considered from the outset of generation planning.

“The IEP must plan the power system we are becoming, not simply model the power system we have inherited,” says SAESA.

The IEP must plan the power system we are becoming, not simply model the power system we have inherited

Partnership with C&I Energy + Storage Summit

SAESA is an association partner of the C&I Energy + Storage Summit, created by VUKA Group, taking place on 28–29 October 2026 at The Maslow Hotel, Sandton, Johannesburg.

The summit brings together commercial and industrial energy users, project developers, financiers, regulators and solution providers to explore practical approaches to energy security, procurement and storage deployment.

For businesses assessing how storage can support their operations, the event offers an opportunity to meet SAESA and engage with the wider energy community on the decisions shaping South Africa’s evolving electricity system.

Commercial and industrial energy decision-makers are invited to apply to attend as hosted buyers. Qualifying buyers receive complimentary summit access and curated opportunities to engage with industry partners.

 

Meet SAESA at C&I Energy + Storage Summit: Join the Hosted Buyer Programme

The Hosted Buyer Programme connects commercial and industrial energy decision-makers with solution providers shaping South Africa’s evolving private energy market.

Qualified energy buyers receive complimentary access to the summit and curated engagement with industry partners exploring energy procurement, storage deployment and project development.

Apply for the Hosted Buyer Programme (https://apo-opa.co/4ehLijJ)

Distributed by APO Group on behalf of VUKA Group.

 




 

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Afreximbank welcomes launch of Africa Credit Rating Agency as an important step in strengthening Africa’s financial architecture

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Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets

PORT LOUIS, Mauritius, October 8, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) welcomes today’s launch of the Africa Credit Rating Agency (AfCRA), an important milestone in strengthening Africa’s financial architecture and expanding the continent’s capacity to generate credible, independent analysis of African credit risk.

 




 
 

Credit ratings play an important role in determining access to capital, influencing investor perceptions and shaping the cost at which governments, institutions and businesses can finance development. It is therefore essential that assessments of African credit risk are independent, rigorous and evidence-based, while reflecting a complete understanding of the structures, institutions and economic realities being assessed.

The establishment of AfCRA adds an important African-led source of credit opinion to the market. Its value will not be measured by whether it produces more favourable ratings, but by the credibility of its analysis, the quality of its data and transparency of its methodology, and its ability to deepen understanding of African sovereigns, sub-sovereigns and corporate credit.

This is particularly important given that many African issuers remain unrated, while local-currency and sub-sovereign markets continue to have limited rating coverage. Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets.

AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans

Alongside fellow members of the Alliance of African Multilateral Financial Institutions (AAMFI), Afreximbank has consistently maintained that African Multilateral Financial Institutions should be assessed on the basis of their fundamentals, performance, legal frameworks, mandates and operating models. Ensuring that these institutional characteristics are properly understood is essential to achieving informed, balanced and credible assessments of African risk.

Commenting on the uniqueness of the African market, and need for AfCRA’s rating methodology to reflect this, Mr Denys Denya, Senior Executive Vice President, Afreximbank, said: “The rating methodology AfCRA develops must recognise the uniqueness of our environment and its institutional structures. The Agency must set its own standards and not follow those set elsewhere — it must build a unique identity that conforms to an ‘African best practice.”

Highlighting the need for the autonomy of the Africa Credit Rating agency as it takes off, Mr Denya added: “Most importantly, AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans. We must all use it, and in return expect a complete assessment of where we (Africa) stand: the strengths the market has ignored, and the weaknesses we still need to fix.”

AfCRA should therefore be seen as complementary to existing international and regional rating agencies, broadening the range of credible analysis available to investors and issuers while strengthening competition, transparency and analytical capacity within Africa’s credit markets.

As Africa seeks to mobilise the scale of capital required for industrialisation, trade, infrastructure and economic transformation, credible African institutions that improve information, strengthen market confidence and deepen the continent’s financial markets will become increasingly important.

Afreximbank congratulates the African Union, the African Peer Review Mechanism (APRM) and all those involved in bringing AfCRA from concept to launch, and looks forward to the contribution the Agency will make to deeper, more transparent and more efficient African capital markets.

Distributed by APO Group on behalf of Afreximbank.

 




 

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