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Antonio Oburu Ondo Reveals Strategies to Explore, Drill and Unlock Offshore Potential in Equatorial Guinea

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Antonio Oburu Ondo

In an exclusive interview with the African Energy Chamber, President of OPEC and Equatorial Guinea’s Minister of Mines and Hydrocarbons, Antonio Oburu Ondo, dives deep into the country’s exploration and drilling Strategies

JOHANNESBURG, South Africa, August 6, 2023/APO Group/ — 

OPEC members recently met in Vienna for the 8th OPEC International Seminar. What measures is OPEC currently taking to stabilize the market given recent price increases?

The global oil market has experienced a relatively volatile few years but OPEC remains committed to contributing towards market stability, both for producers and consumers alike. We have been closely monitoring the market and the associated global dynamics, and our recent seminar in Vienna featured in-depth discussions about production, and maintaining a balance between supply and demand. OPEC will continue to monitor the market while cooperating with our member and non-member countries to address any market imbalances.

Equatorial Guinea’s Gas Mega Hub (GMH) initiative continues to make progress with a Heads of Agreement signed with Marathon Oil Corporation for the second and third phases of the project. What does the timeline look like for the project? Can we expect any milestones to be achieved in 2024 and 2025?

Phase one of the GMH comprised the tie-back of the Alen Field to the Punta Europa Liquefied Natural Gas (LNG) terminal on Bioko Island. This phase delivered first gas in February 2021, and soon thereafter, the government, alongside its project partners, have been working towards getting phase two onstream. In March this year we signed an agreement with Marathon Oil and Noble Energy for the next two phases of the project and we expect phase two to come online as early as January 2024. This stage involves processing gas from the Alba Field while phase three will facilitate gas processing from Noble Energy’s Aseng oil and gas field. Marathon Oil is also currently evaluating two infill drilling opportunities to improve the Alba production performance.

So, we will be starting 2024 with a major milestone and are aiming to reach many more after that. We have recently also established a bilateral trade agreement with Cameroon on cross-border oil and gas development while other exploration projects continue to make progress. A similar agreement was signed with Nigeria in 2022. These endeavors open up new opportunities for the expansion of the GMH by maximizing feedstock for the terminal.

With production decreasing due to natural declines in legacy fields, what efforts are being taken by the Ministry to boost output? 

The country’s enabling environment for investment and strong record of successful offshore finds have also seen new E&P players join the market

In addition to drilling works being undertaken to improve and maintain production levels at existing fields, the Ministry is making great strides towards accelerating exploration across the country’s offshore acreage. Our recent agreement with Cameroon will see the two countries jointly develop oil and gas projects along our maritime borders, including the Yoyo and Yolanda fields, the Etinde gas field and the Camen and Diega fields.

The country’s enabling environment for investment and strong record of successful offshore finds have also seen new E&P players join the market. Earlier this year we also signed three production sharing contracts with Panoro Energy and Africa Oil Corporation. These contracts are expected to further open up the upstream market. Additionally, we have several global energy majors and independents progressing with exploration and are optimistic about these campaigns. The only way to address production declines is to explore, drilling more wells and unlocking the potential of offshore basins.

Equatorial Guinea has recently inked agreements with regional neighbors Nigeria and Cameroon to expand energy cooperation. How is the government strengthening local content within the natural gas industry and how will these agreements help bolster capacity building on a regional scale?

Local content has and will always be a top priority for Equatorial Guinea. In our oil and gas sector, local content is enforced through the National Content Regulation and Hydrocarbons Law as well as additional ministerial decrees, individual production sharing contracts and local labor laws. Through clear regulation and regular engagement with both local and international energy companies, we continue to strengthen our local content and drive capacity building and opportunity.

In addition to policy, the government carries out skills and technology transfer through initiatives and training. We have a number of training and education institutions open and constantly engage our partners about exchange programs and bilateral skills development. Our agreements with neighboring countries fall under these efforts to up-skill and re-skill the workforce. We also believe that regional cooperation will help advance opportunities for oil and gas entrepreneurs. Our partnerships with other West African countries aim to increase trade, commerce and collaboration between Equatorial Guinea and its regional counterparts. These efforts are introducing opportunities for domestic and regional market growth as well as bilateral knowledge sharing.

African Energy Week 2023 takes place under a mandate to make energy poverty history by 2030. How does Equatorial Guinea plan to leverage its resources to achieve this objective and what messages will you be driving during this year’s conference?

Equatorial Guinea, like many other African countries, believes that in order to make energy poverty history, we need to monetize and maximize all of our natural resources. Our efforts to increase investment and bolster development across the entire energy value chain has already been instrumental in alleviating energy poverty. Equatorial Guinea has a wealth of natural gas resources and we are making progress to leverage these resources for domestic power generation. The Bioko Turbogas thermal power plant provides reliable power to the population and as the GMH expands, so will opportunities for gas-to-power.

The country is also capitalizing on its renewable energy wealth, and invites investors and project developers to invest in the country’s green energy sector. We are also working with other countries in Africa to expand trade and regional connectivity.

This year, I am looking forward to participating in a number of panel discussions, investor summits and ministerial forums, and will drive the message that gas is good for Africa. Equatorial Guinea has made significant progress to monetize both domestic and regional gas but a lot more needs to be done to maximize resources and drive industrialization and economic growth. Gas, as a clean and readily available resource, is the best way for Africa to achieve energy security while facilitating a just energy transition.

Distributed by APO Group on behalf of African Energy Chamber.

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Hainan FTP marks 6-month milestone of special customs operations, signs deals during Hong Kong visit

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Hong Kong

HONG KONG SAR – Media OutReach Newswire – 29 June 2026 – As the Hainan Free Trade Port (FTP) marked the six-month milestone since the launch of its full special customs operations, a Hainan provincial delegation wrapped up a three-day visit to Hong Kong. During the visit, the delegation signed deepened cooperation agreements with several major local chambers of commerce and promoted the latest policies introduced since the island-wide special customs operations took effect.

According to data released by Hainan Province during the visit, Hainan’s foreign trade has surged since the launch of special customs operations. As of June 17, the province’s total goods imports and exports reached RMB 173.98 billion (approximately US$24 billion), up 54.6% year on year. Imports of zero-tariff goods hit RMB 2.645 billion, a 120% jump that generated tariff savings of RMB 440 million. A total of 172,100 new market entities were registered—a 61% increase—including 1,240 foreign-invested enterprises. Zero-tariff items now account for 74% of all tariff lines, benefiting more than 12,000 market entities.

During the Hong Kong visit, China Council for the Promotion of International Trade Hainan Provincial Committee (CCPIT Hainan) signed separate deepened cooperation MOUs with the Chinese General Chamber of Commerce, Hong Kong and the Hong Kong General Chamber of Commerce. Under the MOUs, the parties will establish a regular liaison mechanism for the periodic exchange of economic and trade information, and will promote collaboration in areas including professional services, green finance, the digital economy, supply chain management, and cultural tourism. Mutual enterprise service desks will be set up to provide consulting services regarding policies and projects. The parties will leverage their complementary strengths to help Chinese mainland enterprises access overseas markets via Hong Kong, while facilitating Hong Kong companies’ entry into the Chinese mainland through Hainan.

The delegation also held talks with the British Chamber of Commerce in Hong Kong and the American Chamber of Commerce in Hong Kong, exploring ways for British and American businesses to leverage Hainan’s value-added processing tariff exemptions and multifunctional free trade accounts to position themselves in regional supply chains and cross-border investment and financing. HSBC, De Beers, and other British firms are already active in Hainan, and the UK served as the Guest of Honor country at the 2025 China International Consumer Products Expo.

According to industry analysts, amid the shifting international trade landscape, Hainan is leveraging Hong Kong’s “super-connector” role to accelerate its integration with global capital and business networks, while simultaneously offering the Hong Kong business community a policy testing ground for entering the Chinese mainland market.

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Africa’s Grid Constraints Come into Focus as Regional Markets Push Toward Integration

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Regional power pools are advancing and renewable pipelines are growing, but the regulatory and financial architecture needed to connect them remains the continent’s most critical infrastructure gap – an issue central to the Power Africa Today conference at AEW 2026

CAPE TOWN, South Africa, June 25, 2026/APO Group/ –Africa’s electricity demand is projected to nearly double to 2,291 TWh by 2050, requiring an estimated $30 billion in transmission and grid infrastructure investment to unlock and integrate new generation capacity. Yet across the continent, grid systems are struggling to keep pace with rapidly expanding supply pipelines and rising demand.

In Nigeria, repeated nationwide grid collapses as recently as February 2026 underscore the fragility of aging transmission infrastructure. In East Africa, tower failures along the 428 km Loiyangalani-Suswa line temporarily stranded output from Lake Turkana Wind Power – Africa’s largest wind installation. Meanwhile, demand growth pressures are accelerating across North Africa, where electricity consumption is expected to rise by around 50% by 2035, driven by urbanization, desalination projects, and climate-related temperature increases.

Despite these constraints, generation investment continues to accelerate across Africa, particularly in renewables, gas-to-power and hybrid systems. However, without equivalent investment in transmission and interconnection, much of this new capacity risks being underutilized or stranded. This growing imbalance between generation and grid capacity is driving a sharper focus on system-wide planning and regional market design – issues that will be central to the newly launched Power Africa Today conference at African Energy Week 2026. The platform will bring together policymakers, utilities, investors and developers to explore how regional interconnection, cross-border trading frameworks and financing structures can better align generation growth with grid expansion.

Power Markets Experiment with Reform

Alongside infrastructure challenges, Africa’s electricity sector is undergoing gradual – but uneven – market reform. Most countries still operate vertically integrated systems dominated by state utilities, but a growing number are introducing competitive frameworks to attract private capital and improve efficiency.

Zimbabwe opened its electricity market to full private participation across generation, transmission and distribution in 2025, targeting $9 billion in new investment. South Africa is advancing one of the continent’s most ambitious grid expansion programs, with plans for 14,500 km of new transmission lines and 133,000 MVA of transformer capacity by 2034, alongside mechanisms designed to crowd in private financing. Kenya, meanwhile, has introduced open access regulations enabling independent power producers to wheel electricity directly to multiple off-takers, reshaping how generation assets interface with the grid.

Interconnected electricity markets are the foundation of Africa’s industrial future

Regional Integration Remains Fragmented

Efforts to connect Africa’s fragmented power systems are progressing, though at different speeds across regions. In Southern Africa, the World Bank’s RETRADE SAPP program, approved in 2025, is deploying $12 million to strengthen renewable integration and transmission capacity across 12 member states. In East Africa, the Ethiopia–Kenya–Tanzania Electricity Highway is now in trial operations at up to 2,000 MW, marking a significant step toward a more interconnected regional grid.

West Africa is also moving toward deeper integration, with permanent synchronization of the West Africa Power Pool expected in 2026. Analysts, including the African Finance Corporation, argue that such synchronization is critical to unlocking large-scale hydropower potential and industrial demand across the region. Longer term, full synchronization between the Eastern and Southern African power pools – targeted for the end of 2026 – could create one of the world’s largest cross-border electricity trading corridors.

Building Bankable Financial Architectures

While interconnection is advancing, infrastructure alone is not enough to create investable electricity markets. Investors consistently cite the lack of standardized offtake structures, creditworthy counterparties, and cross-border payment guarantees as key barriers to scaling capital deployment.

New models are emerging to address these constraints. Africa GreenCo, operating across Zambia, Namibia and South Africa, is helping to aggregate independent power producers under a single creditworthy intermediary, standardizing power purchase agreements and reducing counterparty risk. At a broader level, AUDA-NEPAD estimates that Africa requires around $30 billion in additional investment to complete priority transmission corridors and establish three fully interconnected regional trading blocs by 2030.

“Interconnected electricity markets are the foundation of Africa’s industrial future,” said NJ Ayuk, Executive Chairman of the African Energy Chamber. “The question at Africa Energy Week is not whether integration is possible – the evidence is already there. The question is which regulatory frameworks and financial structures will get projects to financial close, and which markets will be ready when capital is looking to move.”

The Power Africa Today conference will run alongside AEW 2026, taking place October 12–16 in Cape Town, and will focus on the regulatory, financial and infrastructural architecture needed to build interconnected electricity markets capable of attracting institutional capital and delivering reliable, cross-border power at scale.

Distributed by APO Group on behalf of African Energy Chamber.

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African Development Bank Group and La Francophonie Sign Partnership Agreement to Promote Youth Employment in Francophone Africa

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The agreement was signed during a meeting between the Secretary General of La Francophonie, Louise Mushikiwabo, and African Development Bank Group President, Dr Sidi Ould Tah in Paris, France

PARIS, France, June 25, 2026/APO Group/ –The African Development Bank Group (www.AfDB.org) and The International Organization of La Francophonie (OIF) on Wednesday entered a strategic partnership to strengthen digital skills, employability, and entrepreneurship of young people and women in five African countries: Benin, Cameroon, Guinea, the Democratic Republic of the Congo and Madagascar.

 

The agreement was signed during a meeting between the Secretary General of La Francophonie, Louise Mushikiwabo, and African Development Bank Group President, Dr Sidi Ould Tah in Paris, France. The agreement will address a major challenge faced by countries in the Francophone world and across Africa: providing young people with access to opportunities offered by the digital economy and fostering the emergence of a new generation of entrepreneurs.

The partnership calls for the implementation of training programs in digital professions and entrepreneurship, in fields such as web and mobile development, cybersecurity, artificial intelligence, and data analysis. Participants will also receive guidance toward employment and self-employment, as well as support for innovation and business creation, notably through training camps, prototyping activities, and partnerships with incubators and accelerators.

The African Development Bank Group and OIF will also work with national authorities in these five countries and training institutions to sustainably strengthen local capacities and promote ownership of the programs by national stakeholders. An initial pilot phase, lasting 12 to 24 months, will be rolled out in the five partner countries, followed by a gradual expansion to other member states depending on the results achieved.

The African Development Bank Group is pursuing a bold agenda based on “Four Cardinal Points” developed by Dr Ould Tah, the third of which is ‘Turning Demographics into a Dividend.’ This is about strategically converting Africa’s rapidly growing and youthful population into a decisive engine of inclusive growth, productivity, and innovation through large-scale investment in human capital—particularly youth and women.

 

It sees Africa’s growing young population not as a risk, but as a major asset. With the right policies and investments, this potential can create jobs, help small businesses grow, bring more informal businesses into the formal economy, and equip young people with the skills needed for the future. By investing more in education, science and technology, vocational training, entrepreneurship, finance, and digital tools, Africa can help its people drive economic transformation, stay competitive, and build lasting, resilient growth.

The OIF said the agreement marked the first concrete step in its initiative to mobilize innovative and additional funding for its most impactful projects.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

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