Connect with us

Business

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

Published

on

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.

Business

Sierra Leone’s PDSL to Host Strategic Investor Roundtable at Paris Energy Forum

Published

on

The Petroleum Directorate of Sierra Leone will lead a targeted roundtable at Invest in African Energy 2026, spotlighting upstream potential and cross-regional partnerships

PARIS, France, March 24, 2026/APO Group/ –The Petroleum Directorate of Sierra Leone (PDSL) is set to convene an investor roundtable at Invest in African Energy (IAE) Forum 2026 in Paris, underscoring growing interest in West and North African energy markets and the need for deeper capital engagement across exploration, renewable and offshore services. The session reflects a strategic effort by Sierra Leone to connect its emerging upstream prospects with established operators and project developers as the country moves to unlock the full potential of its emerging oil and gas industry.

 

Sierra Leone is increasingly positioning itself as a frontier oil and gas market with significant offshore potential, and part of the PDSL’s mandate is to catalyze investment interest in its offshore acreage through direct engagement with global capital. Recent data suggest the country holds estimated recoverable resources in the tens of billions of barrels, backed by discoveries and extensive multi‑client seismic datasets that prospective investors are evaluating. The PDSL is actively promoting licensing opportunities and drilling plans, emphasizing fiscal terms and exploration readiness to attract strategic partners.

 

A cornerstone of this strategy is the anticipated launch of the country’s sixth licensing round. Offering a rare early-entry opportunity into a largely untapped deepwater terrain with considerable upside, the upcoming bid round is backed by fresh 3D datasets which de-risk exploration and support new drilling campaigns. Just this month, GeoPartners announced that the final Pre-Stack Time Migration data for its recently acquired 3D multi-client seismic survey in the country was complete and is now available for licensing. The dataset provides a 3D window into the hydrocarbon potential of the underexplored northern Sierra Leone region.

 

Sierra Leone’s licensing drive comes as major operators advance exploration activities. In 2025, Eni signed a Reconnaissance Permit Agreement with the PDSL, securing rights to conduct reconnaissance and technical evaluation activities across offshore blocks G113, G129, G130, G131 and G132. The acreage covers 6,790 square kilometers within Sierra Leone’s territorial waters. Nigeria’s F.A. Oil Limited is pursuing drilling following its award of six offshore blocks through the country’s fifth licensing round in 2023. The company is currently seeking a farm-in partner to advance the project from exploration to production, offering a 40% stake in each of the G Blocks 53, 54, 55, 71, 72 and 73.

 

As these development unfold, the upcoming roundtable at IAE 2026 offers a unique opportunity for operators and policymakers to engage potential investors. The IAE 2026 Forum has become a strategic bridge between African upstream opportunities and global investors, with sessions like the PDSL roundtable designed to foster deeper dialogue and provide clarity on project pipelines and investment prerequisites. Discussions are expected to cover mechanisms for de‑risking exploration activity, optimizing fiscal and contractual frameworks and identifying synergies between hydrocarbon investment and renewable energy commitments.

 

For investors seeking differentiated exposure to African energy markets, the Sierra Leone roundtable represents both a focused exploration of frontier oil potential and a broader conversation about regional infrastructure, partnerships and the evolving demands of energy capital in the years ahead.

 

IAE 2026 (www.Invest-Africa-Energy.com) is an exclusive forum designed to connect African energy markets with global investors, serving as a key platform for deal-making in the lead-up to African Energy Week. Scheduled for April 22–23, 2026, in Paris, the event will provide delegates with two days of in-depth engagement with industry experts, project developers, investors and policymakers. For more information, visit www.Invest-Africa-Energy.com. To sponsor or register as a delegate, please contact sales@energycapitalpower.com

 

Distributed by APO Group on behalf of Energy Capital & Power.

Continue Reading

Energy

Cape Town Prepares for African Mining Week 2026 as Draft Program Reveals Continent’s Mineral Drive

Published

on

African Mining Week returns for its 2026 edition with an expanded three-day program, bringing together African mining leaders and global partners to shape the future of the continent’s mining sector

CAPE TOWN, South Africa, March 24, 2026/APO Group/ –Global economic trends – from record-breaking commodity prices to intensifying geopolitical competition for resources – are reshaping the strategic importance of Africa’s mineral wealth. As global countries race to secure supply chains for energy transition metals – which are expected to triple by 2030 – Africa is positioning its 30% share of the world’s critical minerals as a key pillar of economic growth. African governments are modernizing mining codes, developing industrial corridors and investing in mineral processing facilities to support local beneficiation, job creation, workforce development and regional mineral markets.

 

Against this backdrop, the upcoming African Mining Week (AMW) Conference & Exhibition – Africa’s premier gathering for mining stakeholders – has launched the draft program for its 2026 edition {https://apo-opa.co/3NneKLj}. Scheduled to take place October 14–16 in Cape Town, the event provides a platform where policymakers, global investors, project operators, technology providers, academia and mining service companies examine Africa’s mining opportunities, challenges and long-term strategic direction.

Under the theme ‘Mining the Future: Unearthing Africa’s Full Mineral Value’, the three-day, multi-track agenda reflects the growing urgency among African markets to strengthen value addition across the mining value chain.

Regional Cooperation and Policy Alignment in Focus

A key feature of the agenda is the Ministerial Forum, where African mining ministers will provide updates on regulatory reforms and policy alignment initiatives aimed at unlocking greater value from the continent’s mineral resources. Discussions will examine how harmonized regulatory frameworks and regional cooperation can accelerate investment flows and strengthen Africa’s position in global mineral supply chains.

The inclusion of regional policy integration reflects a growing continental push to leverage frameworks such as the African Continental Free Trade Area (AfCFTA) to enhance cross-border mineral cooperation and trade.

We are acting to enhance regional integration through frameworks such as the African Mining Vision and the Africa Mineral Strategy Group

“Africa’s integration is not only a political objective but a strategic economic vision,” stated Emmanuel Armah-Kofi Buah, Ghana’s Minister of Lands and Natural Resources, in remarks reported by Energy Capital & Power – organizers of AMW – in February 2026. “Our natural resources require coordinated policies. Isolated legal frameworks cannot fully unlock their value. Through integration and initiatives such as the ECOWAS [Economic Community of West African States] Mining Code and the African Mining Vision, we can build a stronger and more competitive mineral economy.”

Nigeria’s Minister of Solid Minerals Development, Henry Alake, echoed this emphasis on regional cooperation and beneficiation.

“We are acting to enhance regional integration through frameworks such as the African Mining Vision and the Africa Mineral Strategy Group,” he stated. “We must develop mineral corridors that connect resources, infrastructure and markets across the continent. Our goal is not to simply export raw materials, but to develop industrial hubs that create jobs and value across borders.”

Connecting Global Investors with African Opportunities

Strategic roundtables and Country Focus sessions form a key part of the AMW 2026 program, connecting African mining jurisdictions with international partners from the U.S, Europe, the Middle East and China. These sessions will provide African stakeholders with a platform to showcase exploration opportunities and project pipelines across the mining value chain.

Meanwhile, technical workshops and the exhibition floor at AMW 2026 will provide a platform for equipment manufacturers, technology providers and engineering firms to showcase innovations designed to enhance operational performance across mining operations.

By combining high-level policy dialogue with technical expertise and investment matchmaking, AMW 2026 positions itself as a critical marketplace where Africa’s mineral potential converges with global capital, technology and strategic partnerships – helping shape the next phase of growth for the continent’s mining sector.

AMW serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2026 conference from October 12-16 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

Continue Reading

Business

Tony Elumelu Foundation Selects Seven North African Entrepreneurs in 2026 Cohort

Published

on

Seven North African entrepreneurs in technology, education, professional services and agriculture selected from 265,000 applications at historic Abuja ceremony

Hope is not just a feeling — it is a system we can build

ABUJA, Nigeria, March 24, 2026/APO Group/ —
  • 7 North African entrepreneurs selected from Morocco, Tunisia and Egypt
  • 51% of the 2026 cohort are women, all selected purely on merit, without any quota in place
  • 3,200 total entrepreneurs selected from 265,000+ applications across 54 African countries
  • USD 5,000 in non-refundable seed capital for each selected entrepreneur
  • Selection conducted independently by Ernst & Young

 

The Tony Elumelu Foundation (TEF) (www.TonyElumeluFoundation.org), the leading philanthropy empowering young African entrepreneurs, announced on Sunday, 22 March 2026 the 12th cohort of the TEF Entrepreneurship Programme at a ceremony held at the Transcorp Hilton, Abuja. The announcement was made by Founder Tony O. Elumelu, C.F.R.

 

Among the 3,200 entrepreneurs selected from 265,000 applications received from all 54 African countries: seven from North Africa. Three from Tunisia, two from Morocco, two from Egypt. Spanning technology, education, professional services and agribusiness, they represent a generation of North African founders building businesses that address the urgent needs of their communities. Their selection, which was conducted independently by Ernst & Young, places them among the most rigorously assessed young entrepreneurs on the continent.

 

This year’s cohort carries a historic signal: 51 percent of the 2026 entrepreneurs are women. They were selected purely on merit, without quota. Across hundreds of thousands of applications, women distinguished themselves through the strength of their ideas, the clarity of their business models and the ambition of their vision.

 

In 2026, the Foundation is empowering a total of 3,200 entrepreneurs across all its entrepreneurship programmes:

 

  • 1,751 entrepreneurs through Heirs Holdings Group: Heirs Energies, Transcorp Power, Transcorp Hotels, and United Capital;
  • 1,049 entrepreneurs in partnership with the European Commission, OACPS, BMZ and GIZ;
  • 100 entrepreneurs in partnership with Sèmè City Development Agency;
  • 100 entrepreneurs in partnership with DEG, the German Development Agency;
  • 100 entrepreneurs in partnership with the IKEA FoundationUNICEF’s Generation Unlimited and the Dutch Government; and
  • 100 entrepreneurs in partnership with UNDP and the Rwandan Ministry of Youth and Arts.

 

 

Each selected Tony Elumelu Entrepreneur will receive USD 5,000 in non-refundable seed capital, access to world-class business management training on TEFConnect, one-on-one mentorship, and entry into a powerful network of investors, partners and fellow entrepreneurs.

 

In his annual letter (https://apo-opa.co/4uOFepM), “A Story of Hope,” Tony O. Elumelu, C.F.R., Founder of the Tony Elumelu Foundation, shared a powerful message to the new cohort:

 

“For a long time, I believed luck was something that simply happened to you. Then I came to understand: luck can be engineered. Opportunity can be democratised. Hope is not just a feeling — it is a system we can build.” — Tony O. Elumelu, C.F.R., Founder, Tony Elumelu Foundation — 2026 Annual Letter

 

The Tony Elumelu Foundation has empowered over 2.5 million young Africans with access to business management training on TEFConnect (https://TEFConnect.com), and disbursed over USD 100 million in seed capital to more than 24,000 selected entrepreneurs.

 

Collectively, these entrepreneurs have generated USD 4.2 billion in revenue and created more than 1.5 million direct and indirect jobs. Through its support for African entrepreneurs, TEF has lifted 2.1 million Africans above the poverty line and positively impacted more than 4 million African households, with 46% of supported entrepreneurs being African women. Eighty percent of TEF-supported businesses survive and scale, against a global average of ten to twenty percent.

 

 

The announcement ceremony was broadcast live in English (https://apo-opa.co/3PWLiML), French (https://apo-opa.co/3PWLiML), Portuguese (https://apo-opa.co/4t4Y7Da) and Arabic (https://apo-opa.co/4bYHlQl).

 

Distributed by APO Group on behalf of The Tony Elumelu Foundation.

 

Continue Reading

Trending

Exit mobile version