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Democratic Republic of Congo (DRC) Upstream Market Grows Amid Angolan Collaboration

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Upstream Market

With a 30-block licensing round underway and a recent deal inked with Angola for the collaborative development of Block 14, the DRC’s upstream market is growing rapidly

JOHANNESBURG, South Africa, July 14, 2023/APO Group/ — 

The Democratic Republic of Congo (DRC) is undertaking an ambitious upstream drive in the hopes of attracting new players to the market, increasing production and ushering in a new era of energy security for the central African nation. While a 30-block licensing round currently underway is set to open the market up for frontier exploration, a new deal signed with Angola is expected to kickstart a wave of oil and gas developments on the back of cross-border knowledge sharing.

The Ministry of Hydrocarbons of the DRC and the Ministry of Mineral Resources, Petroleum and Gas of Angola are set to sign a Memorandum of Understanding (MoU) for the co-ownership and development of the Chevron-operated Block 14, which is located on the maritime border of the two countries. The signing will formalize the countries shares in the Block, with both the DRC and Angola retaining 30% ownership each while Chevron holds the remaining 40%. Set to be signed on July 13, 2023 in Kinshasa, the MoU will unlock a new era of cooperation regarding offshore energy development between the two hydrocarbon-producing countries.

We see the DRC’s target of increasing production from 23,000 barrels of oil per day to between 500,000 and one million barrels turning into a reality from such a cooperation

The African Energy Chamber (AEC), as the voice of the African energy sector, strongly commends and supports the DRC and Angola for reaching the agreement as it will pave the way for a new chapter of cooperation between the two countries in addressing oil and gas industry challenges in the energy transition era. Notwithstanding the opportunities for Angola, the deal will bolster DRC exploration at a time when global stakeholders are calling for an end to fossil fuel investments.

Representing a relatively untapped hydrocarbon market, the DRC is inviting E&P players to capitalize on the country’s promising on- and offshore acreage. To date, licenses have been awarded for only three Lake Kivu gas blocks, and with 27 blocks still up for grabs, the country offers lucrative opportunities for frontier E&P players. Stepping into this picture, the DRC-Angola deal is set to trigger a wave of interest in the central African market as the major oil producer leverages its expertise to grow the DRC offshore market. The deal is not only a testament to both countries’ stability but to their focus on strengthening bilateral cooperation in pursuit of energy security. For other regional nations, the deal serves as a benchmark, while for foreign players, a demonstration of political will and support for offshore exploration.

With Angola’s National Oil Company (NOC) Sonangol in the process of privatizing, the country is positioning the NOC as a competitive operator. This spells new opportunities for collaboration between the respective NOCs of Angola and DRC, with Sonahydroc – the DRC’s NOC – standing to learn a great deal from its regional counterpart. Under the terms of the Block 14 deal, Sonangol will be writing off a $200 million debt for Sonahydroc, enabling the NOC to prioritize funding towards the development of Block 14. This is a testament to not only the potential of the Block but to Angola’s commitment to furthering regional collaboration.

“The AEC strongly supports the DRC and Angola for reaching an agreement on the co-development and monetization of resources on Block 14. We are confident that the deal will not only benefit the two countries but will unlock regional energy market growth. We see the DRC’s target of increasing production from 23,000 barrels of oil per day to between 500,000 and one million barrels turning into a reality from such a cooperation. For Africa to make energy poverty history on the back of its oil and gas resources, cooperation amongst countries is key. Senegal and Mauritania have set an example on the Greater Tortue Ahmeyim development and now the DRC and Angola are following suit on Block 14,” stated NJ Ayuk, the Executive Chairman of the AEC.

The AEC, through the upcoming African Energy Week (AEW) conference and exhibition – scheduled for 16 – 20 October 2023 in Cape Town – will unite African governments and NOCs with global project developers and investors to discuss and sign deals for the development of the continent’s estimated 125.3 billion barrels of crude oil and 620 trillion cubic feet of natural gas resources. For more info about AEW, visit www.AECWeek.com

Distributed by APO Group on behalf of African Energy Chamber.

Energy

Venezuela Energy Week Confirms 19 August Date for Houston Industry Showcase

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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.

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

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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).

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

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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.

 

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