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Congo Signs Amended Production Sharing Contract (PSC) with China’s Wing Wah, Signaling Start of Gas Development Project

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Gas Development Project

The Banga Kayo project will be developed in three stages, with production starting in August 2024

JOHANNESBURG, South Africa, April 12, 2024/APO Group/ — 

The Republic of Congo’s Minister of Hydrocarbons Bruno Jean-Richard Itoua signed an amended Production Sharing Contract (PSC) with China’s Wing Wah Oil Company for the Banga Kayo block. The amended PSC marks the start of development at the block and signals a strong commitment by the country to maximize undeveloped hydrocarbon resources.

Representing the voice of the African energy sector, the African Energy Chamber (AEC) supports the move by the country to fast-track the development of this strategic asset in partnership with its global partner. The development of the project will be critical for enabling the Congo to achieve its goal of doubling its hydrocarbon production to 500,000 barrels per day (bpd).

With bold ambitions to double production capacity, the country is poised to unlock new opportunities for sustainable economic growth through oil and gas investment

Under the terms of the amended PSC, the partners have agreed to develop the project in three phases, with the first – featuring the start of production – kicking off in August 2024. The second stage, focusing on the commercialization of resources, will start in February 2025 while the third and final phase – comprising marketing and distribution – will start in December 2025. With the development, the country is expected to increase its national production capacity, thereby boosting export revenues and driving economic growth.

The structured development plan outlines a clear path to resource monetization and is a testament to the role public-private partnerships play in developing oil and gas projects in Africa. For the Congo, partnering with private companies and global E&P firms has already yielded positive results, with the country witnessing a strong pipeline of projects across the exploration and production space. Led by energy major Eni, the country awaits first cargo from its inaugural natural gas liquefaction project. The development comprises the installation of two FLNG vessels at the Marine XII concession.

Meanwhile, companies to the likes of independent explorer Perenco – which made a discovery at the PNGF Sud license in 2022 – and energy major TotalEnergies – set to drill the Niamou-1 well on the Marine XX block – are spearheading exploration efforts. The country’s national oil company SNPC is expected to boost its own production capacity by 10,000 bpd this year, showcasing a commitment to production growth as well as the wealth of opportunity in the market.

“Spearheaded by its Ministry of Hydrocarbons, the Republic of the Congo is making great strides to develop its oil and gas resources, with the country’s fast-tracked approach serving as a model for other resource-rich nations in Africa. With bold ambitions to double production capacity, the country is poised to unlock new opportunities for sustainable economic growth through oil and gas investment,” stated AEC Executive Chairman NJ Ayuk.

Distributed by APO Group on behalf of African Energy Chamber.

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OPPO Elevates ColorOS 15 with Microsoft’s Advanced AI Productivity Features

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OPPO

SHENZHEN, CHINA – Media OutReach Newswire – 21 November 2024 -OPPO has strengthened its cooperation with Microsoft to deliver advanced AI productivity features to ColorOS 15, OPPO’s next-generation smart device experience.a

“To deliver advanced AI experiences, we are incredibly proud to partner with Microsoft, a pioneer in the field. At the cutting edge of global AI development, Microsoft lays a strong foundation for ColorOS 15’s language features. These save OPPO users time and headspace, ensuring meaningful, advanced AI productivity tools are always just a tap away”.—Nicole Zhang, General Manager of AI Product at OPPO
 
ColorOS 15’s AI Speak uses Microsoft’s advanced AI productivity features, reading web pages aloud so users can consume content hands-free while reducing their screen time. These ultra-intelligent models also power OPPO Documents’ translation features and the Voice Translate application, breaking down language barriers in seconds.

Microsoft’s AI capabilities enhance ColorOS 15 with practical, time-saving features, including accurate audio transcription within the new Recorder and Notes apps, boosting organisation and delivering time-saving benefits.

ColorOS 15, featuring Microsoft’s advanced AI capabilities, will debut at the global launch of OPPO’s upcoming Find X8 Series.
 



 

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Yellow Card Secures Crypto Asset Service Provider Licence in South Africa

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Yellow Card

Stablecoin adoption is surging throughout Africa, with sub-Saharan Africa having the highest adoption rate in the world at 9.2%

JOHANNESBURG, South Africa, November 20, 2024/APO Group/ — 

Yellow Card (www.YellowCard.io), Africa’s leading stablecoin-based infrastructure provider, has been issued a Crypto Asset Service Provider (CASP) licence by the Financial Sector Conduct Authority (FSCA) in South Africa.  

Commenting on the FSCA’s decision to issue the licence to Yellow Card Financial South Africa, Chris Maurice, Yellow Card’s co-founder and CEO, said, “The CASP licence underscores Yellow Card’s commitment to its customers in South Africa and regulatory compliance across the continent.This achievement reflects our dedication to providing secure, compliant and transformative solutions for our customers both in South Africa and across Africa.  

The CASP licence underscores Yellow Card’s commitment to its customers in South Africa and regulatory compliance across the continent

Stablecoin adoption is surging throughout Africa, with sub-Saharan Africa having the highest adoption rate in the world at 9.2%. In South Africa alone, where the number of total users of crypto assets is estimated to amount to 5.8 million people, stablecoins have experienced growth of 50% month over month since October 2023, displacing bitcoin as the country’s most popular cryptocurrency.  Yellow Card is excited to play a pivotal role in this financial revolution in South Africa. 

Yellow Card, which launched in South Africa in 2020, has facilitated over US$3 billion in transactions in the last several years and now operates in 20 countries across the continent. The company recently completed a US$33 million Series C financing, led by Blockchain Capital and existing investors, including Polychain Capital, Valar Ventures, Third Prime Ventures, Coinbase Ventures, and Block, Inc. (Square/Cash App), reflecting strong investor confidence in its mission.   

As the stablecoin landscape continues to evolve, Yellow Card is committed to leading the charge in making digital assets accessible and secure for businesses across Africa. With the recent licensing and funding, the company plans to expand its B2B offerings by enhancing its stablecoin rails, upgrading infrastructure, and advancing its B2B API and Widget. These efforts will empower businesses with seamless solutions for liquidity management and their general operations. 

To learn more about Yellow Card, visit: https://YellowCard.io/

Distributed by APO Group on behalf of Yellow Card Financial.

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Telecoming and MTN Partner to Launch cloud gaming in South Africa

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MTN Cloudplay will allow MTN users in South Africa to access a wide range of cloud-based video games, providing a high-quality gaming experience without the need for downloads or high-end gaming consoles

JOHANNESBURG, South Africa, November 20, 2024/APO Group/ —

  • Both companies extend their collaboration to introduce cloud gaming in South Africa.
  • MTN Cloudplay aims to revolutionize digital entertainment with affordable, high-quality gaming access.

MTN, Africa’s leading telecommunications operator with over 290 million subscribers across the continent, announces the launch of Cloudplay, a revolutionary new cloud gaming service, with Telecoming (www.Telecoming.com), a sportech company specializing in developing and distributing mobile experiences for sports and entertainment. This project marks a new milestone in the ongoing collaboration between the two companies.

MTN Cloudplay: A Game Changer

MTN Cloudplay will allow MTN users in South Africa to access a wide range of cloud-based video games, providing a high-quality gaming experience without the need for downloads or high-end gaming consoles. The service will allow customers to stream high-end PC games to their mobile phones, enabling them to play anywhere, anytime.

This service seeks to democratize access to high-quality mobile gaming for the whole family; including various genres which include retro games and exciting popular gaming titles with multi-device gameplay, at an affordable price of only R79 per month.

Jason Probert, General Manager for Digital Services at MTN South Africa shared his thoughts on the collaboration:

Customers can use their existing Steam licenses on the service, and have access to more than 300 games on the service for only R79 per month

“We’re thrilled to launch MTN Cloudplay in South Africa. We’re committed to enabling our customers to enjoy the benefits of a modern connected life and the advent of 5G means that it is now possible to stream and play games without the need for a PC or console. Customers can use their existing Steam licenses on the service, and have access to more than 300 games on the service for only R79 per month.”

Alí Karaosman, MEA Director of Telecoming says “It is very exciting for us to extend our collaboration with MTN, bringing our nearly decade-long experience in this market and supporting the operator in this innovative digital entertainment offering, we are convinced that MTN Cloudplay will revolutionize the way users in South Africa enjoy video games. For Telecoming, this partnership with MTN is a strategic step in our mission to bring esports and innovative digital services to Africa. We are committed to continuing to develop technological solutions that enhance digital leisure for people in the region.”

Service Details

MTN Cloudplay is available to all MTN users in South Africa since November 2024. With a vast library of over 340 games from over 50 publishers, this cloud gaming service offers an unmatched gaming experience on any device.

MTN Cloudplay is accessible to MTN subscribers. Users can visit https://Cloudplay.MTN.co.za to explore the platform and enjoy a wide selection of gaming titles.

Highlights

  • Extensive Game Library: Enjoy classics like Contra, PacMan and Mortal Kombat and modern hits like Hogwarts Legacy and Borderlands 3.
  • Bring Your Own License (BYOL): Access games you’ve purchased on Steam, such as Grand Theft Auto V and Fallout 4.
  • Multi-Device Access: Play on any device and switch seamlessly between them.
  • Low Latency: Experience responsive gameplay with minimal lag.
  • Subscription: Available directly on https://Cloudplay.MTN.co.za or via the MTN Play https://Play.MTN.co.za website for R79 per month.

Distributed by APO Group on behalf of Telecoming.

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