Connect with us
Anglostratits

Business

African Energy Week (AEW) 2024 to Shine Spotlight on Angolan Blocks, Project Progress Ahead of 2025 Bid Round

Published

on

African Energy Week

Sponsored by the ANPG, Sonangol, Azule Energy, ACREP and Alfort Petroleum, the roundtable discussion serves as a premier platform to gain insight into emerging investment opportunities in sub-Saharan Africa’s second largest oil producer

CAPE TOWN, South Africa, October 23, 2024/APO Group/ — 

The African Energy Week (AEW): Invest in African Energy conference – slated for November 4-8 in Cape Town – will once again host an Invest in Angola Energies country spotlight session. Sponsored by the country’s regulator the National Oil, Gas & Biofuels Agency (ANPG) and its national oil company Sonangol as well as energy companies Azule Energy, Alfort Petroleum and ACREP, the session will outline strategic investment opportunities and available blocks ahead of the country’s 2025 licensing round.

Angola offers a wealth of block opportunities for upstream players, featuring proven petroleum plays in shallow and deepwater acreage as well as promising deposits in onshore basins. The country launched its first-ever marginal fields for exploration this year, offering five blocks across acreage with proven reserves and commercial potential. The marginal fields not only support production growth at active assets but offers market access to companies of various sizes and capacities. In tandem, Angola offers 11 blocks via its permanent offer program. The program enables investment outside of the confines of traditional licensing rounds, supporting investment through flexibility. These opportunities will be outlined during the AEW spotlight session, with Angola’s Minister of Mineral Resources, Petroleum and Gas Diamantino Pedro Azevedo set to open the session with a fireside chat.

AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit http://www.AECWeek.com for more information about this exciting event.

Angola is not only focused on bringing new projects online by promoting exploration but maximizing output at producing fields

Following a successful 12-block tender which concluded in 2024, Angola is preparing to launch its next upstream licensing round in Q1, 2025. A 10-block bid round offering blocks for exploration in the Kwanza and Benguela Basins, the round forms part of the country’s multi-year licensing program – launched in 2019 – which aims to award up to 50 blocks throughout a six-year period. As of 2023, 27 blocks have been awarded. A senior representative from the ANPG will provide an update on Angola’s block opportunities, unpacking exploration prospects across the country’s onshore, offshore and marginal fields.

On the back of rising opportunity in Angola, a slate of upstream-focused oil and gas companies have either entered or are strengthening their presence across the market. Amidst its privatization – set to be complete by 2026 – Sonangol is gradually transforming into a competitive upstream operator. The company aims to boost national production by investing in projects in collaboration with upstream partners. Sonangol CEO Sebastião Gaspar Martins joins the country spotlight to shed light on projects and partnerships. Meanwhile, Afentra finalized the acquisition of non-operating interests in two offshore blocks this year from upstream company Azule Energy. With the transaction, Afentra increases its stake in Block 3/05 to 30% and in Block 3/05A to 21.33%. The company also qualified as a non-operator in Angola’s 2023 bid round, with a formal agreement already signed for the KON 19 license. Afentra COO Ian Cloke returns to AEW: Invest in African Energy to discuss the company’s exploration agenda in Angola.

As Angola’s largest private oil producer, Etu Energias aims to produce 50,000 barrels per day (bpd) by 2025. The company recently secured $60 million to support asset acquisition in Angola, enabling the acquisition of a 20% stake in Block 14 and a 10% stake in Block 14K. Edson R dos Santos, CEO of Etu Energias, will unpack the company’s acquisition goals during the AEW: Invest in African Energy 2024 spotlight session. Additionally, Gianni Gaspar-Martins, Managing Director of Alfort Petroleum, will join the discussion, detailing the role Angolan operators play in driving national output. Having qualified as an operator under Angola’s 2020 bid round, Alfort Petroleum is striving to boost production at KON 8, serving as the block’s operator.

Amid this exploration drive, numerous large-scale oil and gas projects are rapidly gaining momentum in Angola, with recent project milestones underscoring IOC commitment to bringing production online. Energy major ExxonMobil made an oil discovery at the Likember-01 well this year – the first as part of Angola’s broader incremental production initiative. The company could inject as much as $15 billion in exploration and production in the Namibe basin, following commercial drilling success. ExxonMobil’s Lead Country Manager and General Manager Katrina Fisher joins the AEW: Invest in African Energy 2024 conversation to discuss the company’s Angolan operations. Additionally, Azule Energy will provide a project update at the country spotlight, with CEO Adriano Mongini leading the discussion. Azule Energy aims to produce 250,000 bpd by 2026 and is accelerating gas monetization through projects such as Quiluma and Maboqueiro fields – Angola’s first non-associated gas project, set to come online in 2026. The country spotlight will also feature Mahesh Swaminathan, Senior Vice President – Global Business Vertical Head at McDermott International. The company secured a contract for the TotalEnergies-led Begonia field development in 2022.

“Angola is not only focused on bringing new projects online by promoting exploration but maximizing output at producing fields. Through its multi-year licensing strategy and proactive approach to marginal field development, the country sets a strong example for other oil and gas producers in Africa,” states NJ Ayuk, Executive Chairman of the African Energy Chamber.  

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

Published

on

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.

 

 




 

Continue Reading

Business

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

Published

on

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.

 




 

Continue Reading

Business

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

Published

on

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.

 




 

Continue Reading

Trending