Connect with us
Anglostratits

Business

Capricornus 1-X Adds to String of Successes in Namibia’s Offshore Oil Boom

Published

on

Nigeria

The African Energy Chamber welcomes the Capricornus 1-X light oil discovery as a game-changing development for Namibia, solidifying the Orange Basin’s status as a world-class petroleum province and opening the door to transformative economic and energy opportunities

JOHANNESBURG, South Africa, April 25, 2025/APO Group/ –The African Energy Chamber (AEC) (https://EnergyChamber.org) strongly endorses the successful light oil discovery at the Capricornus 1-X exploration well in Namibia’s offshore Block 2914A – announced on April 24 – calling it a pivotal moment in the country’s energy evolution. The discovery solidifies the Orange Basin’s status as a major petroleum province and strengthens Namibia’s potential as a leading energy producer.

Led by operator Rhino Resources alongside partners Azule Energy, national oil company NAMCOR and Korres Investments, the Capricornus 1-X well encountered 38 meters of high-quality net pay with strong petrophysical characteristics, no water contact and flowed in excess of 11,000 barrels of oil per day during testing. These world-class results confirm the presence of a commercially viable light oil system and further elevate Namibia’s status as a frontier destination of choice for upstream exploration.

The Capricornus 1-X discovery is a pivotal moment for Namibia, reinforcing the Orange Basin’s status as a leading global exploration hub

The AEC commends the PEL85 joint venture partners on delivering one of the most significant discoveries in Namibia to date, reinforcing the industry’s confidence in the Orange Basin and supporting the Chamber’s long-standing position that Namibia’s geology holds exceptional promise. With a 37° API light oil quality, low CO₂ content and no hydrogen sulphide, the Capricornus 1-X find mirrors key features of the highly anticipated Venus and Graff discoveries nearby.

The latest discovery is set to catalyze further investment in Namibia’s energy ecosystem, from seismic activity and appraisal drilling to infrastructure development and regional service capacity building. The AEC believes the positive results will trigger accelerated project timelines, fast-track appraisal and development plans and draw significant attention from global energy companies, financiers and technology providers.

The Capricornus 1-X success demonstrates the powerful results that can be achieved when African institutions like NAMCOR partner with ambitious operators and experienced international players. It also underscores the strength of Namibia’s investment environment – marked by a stable regulatory framework, competitive licensing terms and strong governance – factors the AEC has long championed as critical to unlocking Africa’s energy potential. This milestone affirms the value of long-term vision, exploration persistence and a shared commitment to generating broad-based prosperity from natural resources.

“The Capricornus 1-X discovery is a pivotal moment for Namibia, reinforcing the Orange Basin’s status as a leading global exploration hub. This breakthrough boosts investor confidence and paves the way for rapid development. We commend the joint venture partners for their leadership and execution, and are confident that the relevant parties will work quickly to maximize the value of these resources. Namibia is poised to lead Africa’s energy future, with this discovery marking just the beginning,” said NJ Ayuk, Executive Chairman of the AEC.

Looking ahead, the Chamber encourages all stakeholders – industry, investors, policymakers and the global community – to seize the moment. Namibia’s upstream is rising, and Capricornus 1-X is proof that bold exploration strategies in Africa continue to yield tangible results. This is the time to double down on investment, support new entrants and ensure that African oil and gas continues to play a critical role in meeting global demand, funding local development and securing the continent’s energy future.

Distributed by APO Group on behalf of African Energy Chamber.

Energy

Venezuela Energy Week Confirms 19 August Date for Houston Industry Showcase

Published

on

Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the Houston Industry Showcase will take place on 19 August, convening U.S. energy leaders ahead of Venezuela Energy Week 2027 in Caracas

HOUSTON, United States of America, August 10, 2026/APO Group/ –The organizers of Venezuela Energy Week (VEW) have confirmed that the Houston Industry Showcase will take place on 19 August 2026 at The Post Oak Hotel. Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the event will bring together U.S. energy companies, investors and policymakers to explore commercial opportunities ahead of Venezuela Energy Week 2027 in Caracas in February.

The showcase will feature Minister of Hydrocarbons Paula Henao as a keynote speaker, providing an update on Venezuela’s energy priorities, investment agenda and opportunities for international partnership. Her participation underscores the country’s commitment to strengthening engagement with global industry as it seeks to expand production and unlock new upstream investment.

Bringing together exploration and production companies, independent operators, oilfield service providers, engineering firms, technology companies and financial institutions, the Houston Industry Showcase will examine opportunities across exploration, production optimization, infrastructure rehabilitation and field development.

As Venezuela works to increase oil and gas production, demand is expected to grow for the technical expertise of U.S. service providers in drilling, well intervention, completion services, production optimization, artificial lift, digital oilfield technologies and infrastructure rehabilitation. Houston-based industry leaders – including SLB, Halliburton, Baker Hughes, Weatherford and a broad network of EPC contractors, equipment manufacturers and specialized service companies – are well positioned to support the modernization of mature fields, improve operational efficiency and deliver the technologies and services needed for future upstream projects.

The Houston event follows a successful Industry Showcase in London, which brought together international investors, operators and energy service companies to explore Venezuela’s evolving investment landscape. Building on that momentum, the Houston edition will deepen engagement with the U.S. energy industry and strengthen commercial dialogue ahead of Venezuela Energy Week 2027.

Venezuela Energy Week – the country’s largest energy investment platform to date – has been confirmed for 22–25 February 2027 in Caracas. Organized by Energy Capital & Power, the event will bring together government leaders, investors and industry stakeholders from across the global energy value chain.

To register for the Houston Industry Showcase on August 19, visit https://apo-opa.co/4g0TncR. To learn more about delegate, sponsorship and partnership opportunities for the showcase or to secure your place at Venezuela Energy Week 2027 in Caracas, contact info@venezuelaenergyweek.com.

Supporting Venezuela’s Earthquake Recovery
Our thoughts are with the people and communities affected by the recent earthquakes in Venezuela. As the country begins the long process of recovery, we encourage members of the global energy community to support relief and reconstruction efforts through the CAF Recovery and Reconstruction Fund for Venezuela, which channels contributions from individuals, companies and organizations to emergency assistance, essential services and long-term rebuilding efforts.

To learn more or make a contribution, please visit the CAF Recovery and Reconstruction Fund for Venezuela (https://apo-opa.co/4hkvteE).

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

Continue Reading

Business

Islamic Development Bank Institute (IsDBI) Secures New Patent for Smart Stabilization System from Intellectual Property Office of Singapore

Published

on

IsDBI

The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility

JEDDAH, Saudi Arabia, August 10, 2026/APO Group/ –The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) is pleased to announce that the Intellectual Property Office of Singapore (IPOS) has granted a new patent for its innovative Smart Stabilization System.

 

The patent was granted on 10 July 2026 under Singapore Patent No. 10202250873B for the invention titled “A Computer Network Stabilization System and Method.” The patent application was filed on 1 September 2022 and was formally granted following a comprehensive review process.

This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development

The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility. Leveraging sophisticated algorithms and advanced simulation models, the system is designed to anticipate supply and demand imbalances and implement programmable stabilization measures before they escalate into market disruptions.

Unlike traditional stabilization mechanisms that rely on capital reserves, buffer funds, or external interventions, the Smart Stabilization System introduces a next-generation framework for achieving autonomous market stabilization through proactive and programmed stabilization mechanisms. By incorporating distributed ledger technology and cryptographic trust mechanisms, the platform enhances transparency, trust, and operational resilience for digital asset and commodity markets.

The successful patent grant reflects IsDBI’s growing contribution to technological innovation and its commitment to developing knowledge-based solutions that address contemporary economic and development challenges.

Since filing the patent application back in 2022, the Institute has continued to advance the Smart Stabilization System through ongoing development and testing, aimed to expand its practical applications and support future capitalization opportunities. These advancements have positioned the system as a potentially transformative solution for enhancing stability and resilience in increasingly digital and interconnected economies.

Commenting on this occasion, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, said, “The grant of this patent by the Intellectual Property Office of Singapore further strengthens the Institute’s position as a leader in developing innovative knowledge-based solutions that leverage modern technologies to address complex development challenges. This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development.”

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

Continue Reading

Business

Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

Published

on

The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

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

 

Continue Reading

Trending