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Chevron Expands Namibia Presence with Petroleum Exploration License 82 (PEL 82) Farm-in, Signaling Growing International Oil Company (IOC) Interest in African Energy

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African Energy

With Chevron’s latest farm-in offshore Namibia highlighting Africa’s investment appeal, African Energy Week: Invest in African Energies 2025 will explore strategies for structuring attractive PSCs and securing high-impact farm-in agreements in Africa’s oil and gas sector

CAPE TOWN, South Africa, February 13, 2025/APO Group/ –Africa’s oil and gas sector continues to draw interest from international oil companies (IOCs) through well-structured Production Sharing Contracts (PSCs) and strategic farm-in agreements. Last week, US major Chevron completed a farm-in agreement with Custos Energy for PEL 82 in the Walvis Basin offshore Namibia. Under this transaction, Chevron acquired an 80% participating interest and operatorship, while Custos and the National Petroleum Company of Namibia each retained a 10% interest.

The transaction marks a significant step in the development of Namibia’s offshore oil and gas sector. PEL 82, which covers blocks 2112B and 2212A, is considered one of the most attractive opportunities in the Walvis Basin. Notably, around 70% of the total block area is already covered by extensive seismic data – over 3,500 km of 2D and 9,500 km² of 3D data. Previous drilling activities on PEL 82, such as the Murombe-1 and Wingat-1 wells, have provided valuable insights into the potential of the area. Chevron’s acquisition of an interest in PEL 82 complements its existing offshore exploration efforts in Namibia, where it operates PEL 90 in the Orange Basin. Chevron’s entry into PEL 82 is part of its broader strategy to expand its exploration acreage in promising global geological plays and further solidifies Namibia’s position as a leading frontier for oil and gas exploration.

One of the most critical factors in attracting IOCs is ensuring that PSCs offer favorable fiscal terms. Competitive tax regimes and profit-sharing models create incentives for investment while allowing governments to secure a fair share of revenues. Equally important is regulatory stability. Consistent and transparent policies provide companies with long-term security, minimizing uncertainties that can deter investment.

Beyond Namibia, other African nations have been structuring PSCs that continue to draw in international investors. In Equatorial Guinea, the government signed agreements in June 2024 with Chevron for offshore Blocks EG-06 and EG-11. These contracts, established in partnership with GEPetrol, outline minimum investment requirements, detailed exploration programs, and commitments to sustainable development. The attractiveness of these PSCs is largely due to their location near the productive Block B, home to the Zafiro field, and the clarity of development plans that ensure both state benefits and commercial viability.

Algeria has also seen success in crafting appealing PSCs. In 2022, a consortium led by TotalEnergies and including Sonatrach, Occidental and Eni extended a 25-year PSC for Blocks 404a and 208 in the Berkine Basin. The agreement, worth an estimated $4 billion in investment, is set to unlock over one billion barrels of oil equivalent and is made possible under Algeria’s updated hydrocarbon law, offering enhanced fiscal incentives and greater investor confidence.

Farm-in agreements, like the one recently completed by Chevron, play a pivotal role in fostering collaboration and facilitating resource-sharing and risk mitigation in oil and gas projects. By acquiring stakes in existing exploration or production blocks, companies ensure that projects with high potential receive the necessary capital and expertise to move forward. Successful farm-ins typically focus on assets with proven reserves or strong geological prospects, as seen with Chevron’s PEL 82 acquisition, which has extensive seismic coverage and previous drilling activity. This ensures that the project is not only viable but positioned for long-term success.

Other notable farm-in agreements across Africa highlight the continent’s growing appeal to IOCs. For instance, Azule Energy recently acquired a stake in Block 2914A in Namibia’s Orange Basin, further reinforcing the country’s emerging status as a key player in offshore exploration. Similarly, Africa Oil Corp has entered the offshore sector in Equatorial Guinea with PSCs for Blocks EG-18 and EG-31, signaling a revitalization of the country’s offshore exploration.

The success of PSCs and farm-in agreements across Africa underscores the continent’s ability to compete for investment in a rapidly evolving global energy market. By maintaining investor-friendly policies, regulatory stability and fostering strategic partnerships, African nations can continue to attract capital and expertise to sustainably develop their oil and gas resources. Discussions on structuring attractive PSCs and fostering high-impact farm-in agreements will take place at African Energy Week (AEW): Invest in African Energies 2025, bringing together industry leaders, investors and policymakers to explore strategies for maximizing Africa’s hydrocarbon potential and establishing mutually beneficial partnerships. With major players like Chevron expanding their footprint on the continent, AEW 2025 serves as the ideal platform for dealmaking, networking and shaping the future of Africa’s energy landscape.

Distributed by APO Group on behalf of African Energy Chamber.

Business

Aurionpro expands its multi-country transaction banking engagement with Diamond Trust Bank (DTB)

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Aurionpro

Aurionpro’s upgraded iCashpro platform for DTB delivers a unified digital experience across payments, trade, virtual accounts, and real-time reporting, enhancing straight-through processing, visibility, and control for both the bank and its corporate customers

MUMBAI, India, April 30, 2026/APO Group/ –Aurionpro Solutions Limited (www.AurionPro.com) (BSE: 532668 | NSE: AURIONPRO)a global leader in banking technology, announced the expansion and upgrade of its transaction banking engagement with Diamond Trust Bank (DTB), to modernize and enhance the bank’s corporate transaction banking capabilities across multiple countries.

Download Document: https://apo-opa.co/4edHUaC

This multi-country transaction banking upgrade covering Kenya, Uganda, and Tanzania aligns with DTB’s intent to enhance customer experience, streamline operations, and support growing transaction volumes as it expands its regional corporate banking footprint. DTB continues to focus on building a more agile, ‘digital-first’ banking experience, particularly around payments for its corporate customers across Africa, and is now well positioned to scale these capabilities. As part of its broader transformation agenda, the bank has been steadily investing in platforms that enhance scale, reliability, and service consistency across markets.

Through this partnership, we are proud to lead the next era of transformation in transaction banking, helping DTB enhance operational agility

Aurionpro’s upgraded iCashpro platform for DTB delivers a unified digital experience across payments, trade, virtual accounts, and real-time reporting, enhancing straight-through processing, visibility, and control for both the bank and its corporate customers. By enabling DTB to standardize and scale its transaction banking operations across countries, the platform ensures consistent service levels, stronger control, and improved efficiency. It also supports enhanced user experience, advanced security, and the flexibility to introduce new features as DTB expands its regional transaction banking footprint.

Murali Natarajan (https://apo-opa.co/48trPdk), Managing Director & CEO, DTB Kenya   commented: “We are delighted to strengthen and broaden our partnership with Aurionpro Solutions as part of DTB’s ongoing digital transformation journey across multiple markets. Our focus on innovation, operational excellence, and customer-centricity continues to guide our technology investments. This upgrade strengthens our transaction banking capabilities, enabling us to deliver greater value to our customers through robust digital channels and seamlessly integrated experiences.”

Ashish Rai, Group CEO, Aurionpro Solutions, commented: “We are pleased to deepen our multi-country engagement with Diamond Trust Bank and support the next phase of its transaction banking modernization. As DTB continues to scale across markets, platform resilience and consistency become paramount. Through this partnership, we are proud to lead the next era of transformation in transaction banking, helping DTB enhance operational agility, deliver superior experiences to corporate customers, and create long-term value across geographies.”

He added, “Aurionpro’s iCashpro lays a strong digital foundation for transaction & wholesale banks across the globe to grow their corporate and SME client portfolio today, while creating a clear roadmap for next- generation capabilities in AI-driven insights, advanced automation and API-led connectivity for businesses in Kenya and across Africa.”

Distributed by APO Group on behalf of Aurionpro Solutions Ltd.

 

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Minerals Council Chief Executive Officer (CEO) Joins African Mining Week (AMW) as South Africa Improves Sectorial Investment Climate

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Energy Capital

Minerals Council CEO to share insights on policy, infrastructure and investment trends shaping South Africa’s mining industry

CAPE TOWN, South Africa, April 30, 2026/APO Group/ –The upcoming African Mining Week (AMW) conference will feature Mzila Mthenjane, CEO of the Minerals Council of South Africa, as a speaker. Scheduled for October 14 – 16, 2026 in Cape Town, the event will bring together global investors, policymakers and industry leaders, with Mthenjane’s participation highlighting the council’s commitment to engaging international stakeholders and promoting investment across South Africa’s mining sector.

His participation comes at a critical moment as the Minerals Council works closely with government on finalizing the Mineral Resources Development Bill 2025, a policy framework aimed at strengthening the country’s mining investment climate and the sector’s contribution to GDP. According to the council, the revised legislation will support new investment across the value chain as South Africa seeks to mobilize R2 trillion over the next five years to unlock its critical minerals potential.

The policy reforms come amid shifting production trends in the sector. In 2025, South Africa recorded declines in gold and platinum group metals output of 1.9% and 4.1%, respectively. The new regulatory framework is expected to strengthen public-private partnerships and stimulate investment, enabling South Africa to increase production and capitalize on strong global commodity prices. Increased private sector investments is crucial with South Africa seeking targeting to unlock an estimated R40 trillion in untapped iron ore potential as well as maintain its position as the world’s leading producer of chrome and manganese.

At AMW 2026, Mthenjane is expected to outline these trends, providing insights into how the council is contributing to addressing challenges disrupting the sector. Infrastructure and energy costs remain key concerns for industry players. To support the energy-intensive sector, South Africa approved a 35% reduction in electricity tariffs for major ferrochrome producers, helping stabilize an industry that has faced significant cost pressures after electricity prices surged by roughly 900% since 2008.

Logistics constraints are also a priority area for reform. South Africa’s economy is losing an estimated R1 billion per day due to inefficiencies across rail and port infrastructure. As a result, the government is considering measures supported by the Minerals Council to increase private sector participation in logistics. Planned reforms include rail modernization initiatives targeting 250 million tons of freight capacity by 2029, alongside port upgrades and private operator participation aimed at strengthening mineral exports and improving supply chain efficiency.

Beyond infrastructure and policy reforms, the Minerals Council is advocating for stronger exploration investment to support long-term industry growth.

At AMW, Mthenjane is expected to highlight these developments and outline the steps required to reinforce South Africa’s position in the global minerals supply chain. His insights will offer investors and stakeholders a timely perspective on opportunities within the country’s mining sector.

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

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Seychelles Targets Energy Investment Push as Minister Jérémie Joins African Energy Week (AEW) 2026 as a Speaker

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African Energy Chamber

Seychelles energy minister will speak at AEW 2026, positioning her to highlight reforms, renewable projects and investment opportunities as the island nation advances its transition toward a diversified energy system

CAPE TOWN, South Africa, April 29, 2026/APO Group/ –Marie-May Jérémie, Minister of Environment, Climate, Energy and Natural Resources for Seychelles will participate as a speaker at this year’s African Energy Week (AEW) 2026, taking place from October 12–16 in Cape Town. Her participation underscores the country’s growing role in shaping Africa’s small-island energy transition agenda.

Minister Jérémie’s presence at AEW 2026 comes at a critical time as Seychelles accelerates efforts to reduce its heavy reliance on imported fossil fuels. The event provides a platform to attract investment, strengthen policy alignment and showcase bankable projects, positioning the country as a viable destination for private-sector participation in island energy systems.

Seychelles is demonstrating how policy reform and innovation can unlock investment in constrained environments

In May last year, international finance institution the World Bank approved the Renewable Energy Acceleration Program, a seven-year initiative aimed at modernizing the grid and increasing renewable energy penetration to 15% by 2030. The program focuses on unlocking private capital while strengthening transmission infrastructure to accommodate variable renewable energy sources.

Project development is gaining traction in the country, particularly in innovative technologies suited to Seychelles’ land constraints. The 5.8 MW Seysun Lagoon floating solar PV project, developed by independent renewable power producer Qair, is under construction and expected online in 2026.

Alongside renewables, Seychelles continues to pursue upstream opportunities to diversify its economy. The government approved new exploration entrants in 2025 and extended exiting petroleum agreements, while securing an infrastructure partnership with China. Multilateral estimates suggest over $800 million in investment will be required over the next 25 years.

Regulatory reform is central to this transition, with Seychelles introducing an independent power producer framework to open the market to private developers. Standardized power purchase agreements, grid access reforms and strengthened public-private partnership structures are being implemented to improve transparency, reduce risk and accelerate project bankability across solar, storage and emerging wind opportunities.

“Minister Jérémie’s participation highlights the strategic importance of island nations in Africa’s broader energy transition,” says NJ Ayuk, Executive Chairman, African Energy Chamber. “Seychelles is demonstrating how policy reform and innovation can unlock investment in constrained environments. Her insights will be critical to advancing dialogue on resilient, low-carbon energy systems across the continent.”

Distributed by APO Group on behalf of African Energy Chamber.

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