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Equatorial Guinea Signs Three Production Sharing Contracts with Panoro Energy, Africa Oil Corporation

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Panoro Energy

The signing of three production sharing contracts with Panoro Energy and the Africa Oil Corporation, is a step in the right direction regarding expanding exploration in Africa

JOHANNESBURG, South Africa, February 20, 2023/APO Group/ — 

Antonio Oburu Ondo, Equatorial Guinea’s recently appointed Minister of Mines and Hydrocarbons, has awarded independent exploration and production company, Panoro Energy, a 56% participating interest and operatorship in Block EG-01 offshore the hydrocarbon-rich West African country, as well as Canadian oil and gas company, the Africa Oil Corporation, two production sharing contracts (PSC) for offshore Blocks EG-18 and EG-31.

With the PSCs, the Ministry of Mines and Hydrocarbons, under the leadership of Minister Ondo, has taken significant strides towards opening up Equatorial Guinea’s offshore basins even further, working closely with two reputable oil and gas companies to usher in a new era of hydrocarbon exploration and production.

For Panoro, the awarding of Block EG-01 enables the company to work alongside its partners in the block, Kosmos Energy (24%) and national oil company, GEPetrol (20%), to conduct subsurface studies on existing seismic data to identify and define hydrocarbon reserves available over a period of three years. Located in water depths of between 30 meters and 500 meters, Block EG-01 has indicated the presence of high-quality hydrocarbon reserves, with previous exploration activities encountering thin oil and gas pay as well as oil shows. To date, the Eocene sands and Upper Cretaceous identified in the block have been tied to producing wells in Block G – bordering Block EG-01 – where over one billion barrels of commercial oil reserves have been identified. With Panoro Energy and its partners set to extend the contract with an additional two years to conduct exploration activities, the PSC is set to drive Equatorial Guinea into a new era of oil and gas market expansion.

John Hamilton, the CEO of Panoro Energy, stated that the “awarding of Block EG-01 is a natural and complementary expansion of our portfolio in Equatorial Guinea, and is in line with our infrastructure-led exploration strategy, increasing our access to a large inventory of oil prospects and leads within tie back distance of existing production facilities for a modest financial exposure. Panoro is pleased to become an operator in Equatorial Guinea.”

With Panoro Energy’s contract in the Ceiba Field extended to 2029 and in the Okume Complex to 2034, the company’s role in driving Equatorial Guinea’s energy future is imminent

The new contract increases Panoro Energy’s contribution towards the growth of Equatorial Guinea’s energy sector. As a partner and operator in the Ceiba Field and Okune Complex – comprising six operating oil and gas wells – Panoro Energy has been crucial player in maintaining Equatorial Guinea’s energy sector stability and growth. With Panoro Energy’s contract in the Ceiba Field extended to 2029 and in the Okume Complex to 2034, the company’s role in driving Equatorial Guinea’s energy future is imminent.

Meanwhile, for the Africa Oil Corporation, the duo-PSCs enable the company to enter into the promising Equatorial Guinean market. With the agreements, the Canadian explorer will own an 80% interest in both Block EG-18 and EG-31, with GEPetrol owning a 20% interest in each. Currently, Block EG-31 has shown to contain several gas-prone prospects in shallow water depths of less than 80 meters, and is strategically situated close to existing infrastructure such as the Alba gas field and onshore Punta Europa liquefied natural gas (LNG) terminal. As such, the Africa Oil Corporation has emphasized that any future discoveries could present low-cost, low-risk gas development, thereby further consolidating the country’s position as a global LNG hub.

In Block EG-18, potentially large and highly prospective basin floor fan prospects of Cretaceous age – similar to those within the company’s portfolio in Namibia and South Africa – further enhance opportunities for sizeable discoveries. As such, President and CEO, Keith Hill, stated that, “These blocks offer high-impact value upside for our shareholders at relatively low cost, and we look forward to continued collaboration with the government of Equatorial Guinea to explore and develop its natural resources.”

While Minister Ondo is prioritizing boosting Equatorial Guinea’s oil and gas exploration and production to meet growing energy demand locally, across the region and at global scale, the partnership with both Panoro Energy and Africa Oil Corporation is a step in the right direction towards boosting the country’s energy landscape. As such, the African Energy Chamber (AEC) (https://EnergyChamber.org/), as the voice of the African energy sector, strongly supports and commends Minister Ondo’s move in setting the pace for the country’s oil and gas industry expansion by maximizing exploration activities.

“We need to drill more wells in Equatorial Guinea and the Gulf of Guinea. Panoro and Africa Oil Corp will work in a proven but underexplored oil basin in the Gulf of Guinea and it makes it exciting to see the results of their work in the near future,” stated NJ Ayuk, the Executive Chairman of the AEC.

“We have always believed that you need to invest in exploration if you want to see production of oil and gas. The move by the Minister as well as Panoro Energy and Africa Oil Corp should be commended. We strongly support the minister’s strategic response in addressing Equatorial Guinea’s natural decline in oil and gas production. We believe that the awarding of the three PSCs will bring in the much-needed investments to accelerate exploration and production in West Africa. We look forward to witnessing some new discoveries on these exciting blocks in the future,” concluded Ayuk.

Deals such as Panoro Energy and the Africa Oil Corporation’s in Equatorial Guinea will be a key focus at this year’s African Energy Week (AEW) (https://AECWeek.com/) conference and exhibition – Africa’s premier event for the energy sector – which will take place from 16-20 October in Cape Town. AEW 2023’s high-level panel discussions, deal-signings, exhibitions and exclusive networking sessions will focus on how African energy producing countries such as Equatorial Guinea can maximize oil and gas exploration and production through partnerships with local, regional and international independents and majors.

Distributed by APO Group on behalf of African Energy Chamber.

Energy

High-Level Minister Roundup to Headline African Energy Week 2026

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African Energy Chamber

African Energy Week 2026 will convene ministers from Algeria, Ghana, Senegal, Zambia and Niger to spotlight oil, gas expansion, reforms and investment opportunities continentwide

CAPE TOWN, South Africa, March 13, 2026/APO Group/ –A high-level ministerial roundup will take center stage at this year’s African Energy Week (AEW) 2026 – taking place in Cape Town from 12–16 October –, convening some of the continent’s most influential energy leaders at a defining moment for Africa’s oil, gas and power sectors. As hydrocarbon expansion converges with accelerating energy transition strategies, the gathering is set to spotlight real-time project execution, regulatory reform and cross-border infrastructure that are actively reshaping Africa’s energy future.

 

Confirmed ministers to date include Algeria’s Minister of Energy and Renewable Energies Mourad Adjal, Ghana’s Minister for Energy and Green Transition Dr. John Abdulai Jinapor, Senegal’s Minister of Energy, Petroleum and Mines Birame Soulèye Diop, Zambia’s Minister of Energy Makozo Chikote and Niger’s Minster of Petroleum Hamadou Tinni.

 

Fresh from a March OPEC+ decision to lift output to 977,000 barrels of oil per day (bpd), Algeria enters AEW 2026 amid a $60 billion sector transformation. The country is also advancing a 500-well exploration drive and accelerating its 1.48 GW “Project of the Century” solar rollout. Gas exports to Europe remains central to the country, supported by hydrogen corridor planning and refinery expansion aimed at boosting capacity to 50 million tons by 2029.

 

Following license extension for Jubilee and TEN to 2040 and the late-2025 restart of the Tema Oil Refinery, Ghana is pushing a $3.5 billion upstream reinvestment plan while settling $500 million in gas arrears. A 1,200 MW state thermal plant and expanded gas processing at Atuabo anchor its gas-to-power shift, alongside a renewed upstream push in the Voltaian Basin.

The participation of these distinguished ministers underscores the scale of opportunity unfolding across Africa’s energy landscape and the urgency of aligning policy with capital

 

Senegal’s delegation comes on the back of strong production momentum, with the Sangomar oil field delivering 36.1 million barrels in 2025, outperforming forecasts, while the Greater Tortue Ahmeyim LNG development ramped up to 2.9 million tons per annum following first gas. Dakar is now prioritizing domestic gas through refinery upgrades at the SAR refinery and preparations for Sangomar Phase 2 to push output beyond 100,000 bpd.

 

Zambia is redefining its power mix after drought-induced hydro shortfalls. New solar capacity – including the 200 MW Chisamba expansion and 136 MW Itimpi Phase 2 – is part of a broader 2,500 MW diversification drive. Cabinet has approved major regional fuel pipelines, while the Energy Single Licensing System fast-tracks approvals. Lusaka targets 10 GW generation by 2030, with solar and wind rising to one-third of supply.

Niger’s presence reflects its emergence as a serious oil exporter, with the fully operational 1,950-km Niger-Benin pipeline now moving up to 90,000 bpd to international markets. Alongside uranium expansion and renewed cooperation with Algeria on upstream assets, Niamey is advancing digital oversight reforms and reinforcing energy sovereignty amid evolving geopolitical dynamics.

 

“The participation of these distinguished ministers underscores the scale of opportunity unfolding across Africa’s energy landscape and the urgency of aligning policy with capital,” says NJ Ayuk, Executive Chairman, African Energy Chamber. “Their leadership reflects a continent moving decisively from strategy to execution, creating a platform where investors can engage directly with the policymakers shaping Africa’s next wave of oil, gas and energy growth.”

 

At AEW 2026, this ministerial cohort will be well-positioned to offer investors direct insight into Africa’s most dynamic energy markets – where new barrels, new pipelines and new megawatts are reshaping regional growth trajectories in real time.

Distributed by APO Group on behalf of African Energy Chamber.

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Enlit Africa 2026 Programme: 280+ speakers, African nuclear 2.0, Bruce Whitfield Business Breakfast

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Enlit Africa

The event, taking place 19-21 May 2026 at the Cape Town International Convention Centre, expects 7,200+ attendees and 250+ exhibitors, making it Africa’s largest gathering of energy and water professionals

CAPE TOWN, South Africa, March 12, 2026/APO Group/ –Enlit Africa (https://apo-opa.co/4cEX08g) has released its full 2026 conference programme, featuring 280+ speakers across 8 specialised tracks including a new African Nuclear 2.0 session covering Koeberg’s 20-year life extension and Ghana’s nuclear vendor selection process.

 

The event, taking place 19-21 May 2026 at the Cape Town International Convention Centre, expects 7,200+ attendees and 250+ exhibitors, making it Africa’s largest gathering of energy and water professionals.

Award-winning business journalist and best-selling author Bruce Whitfield will deliver the opening address at the Project & Investment Network Business Breakfast on 19 May, kicking off three days of strategic sessions, deal-making platforms, and technical masterclasses.

New programme content includes:

African Nuclear 2.0 – A dedicated session examining the transition from planning to execution, featuring:

Koeberg Nuclear Power Station’s successful 20-year life extension (Units 1 and 2 now licensed until 2044/2045)

Ghana’s progression to Phase 3 of its nuclear programme, evaluating US, Chinese, and Russian technology bids

West African Power Pool‘s 10 GW regional nuclear capacity target

Small Modular Reactor (SMR) deployment readiness across African grids

Independent Transmission Projects (ITP) – A new session exploring how private investment is unlocking Africa’s transmission bottleneck, featuring global case studies from India’s PowerGrid and lessons for scaling grid capacity across the continent.

Generation Masterclasses – Five interactive roundtables on gas-to-power, nuclear, hydro power, clean coal, and hydrogen.

AI in Africa’s Power Grid – Examining practical deployment realities, real-time analytics, and predictive maintenance applications already in operation across African utilities.

Conference sessions and technical hub sessions on the expo floor are CPD-accredited by the South African Institute of Electrical Engineers (SAIEE) and the South African Institution of Civil Engineering (SAICE).

Co-located platforms:

Water Security Africa features country playbooks from Namibia (55-year potable reuse programme), Uganda (NRW reduction from 42% to 32%), Cape Town (Day Zero recovery strategies), and sector-specific stewardship sessions with Harmony Gold, Heineken, Mediclinic, and Growthpoint Properties.

Project & Investment Network (P&IN), part of the new Level 2 Executive Experience, connects project developers, investors, African utility CEOs, and DFIs through structured matchmaking, ministerial dialogues, and project briefings. Over the past two years, P&IN has facilitated $3 billion in project pitches.

Utility CEO Forum brings together 35+ confirmed utility CEOs under Chatham House Rule for candid, off-the-record strategic discussions on unbundling, prosumer management, and financial sustainability.

Municipal Forum addresses South African municipalities’ distribution, metering, and revenue challenges, including sessions on NRW management, tariff reform, Cost of Supply studies, and electrifying informal settlements.

Technical Hub sessions on the exhibition floor offer free, CPD-accredited training across Power, Renewable Energy & Storage, and Water tracks, with confirmed speakers from Eskom, ENGIE SA, ACTOM, National Transmission Company South Africa (NTCSA), RenEnergy, and Matla Energy.

Site visits on 22 May include Koeberg Nuclear Power Station and the V&A Waterfront desalination plant.

Pass options:
Free expo pass registration: https://apo-opa.co/4bl2bYu

Free expo passes provide access to 250+ exhibitors and CPD-accredited Technical Hub sessions.

Delegate Pass:
Early bird registration closes 3 April 2026. Delegate passes start at R15,100 (Silver), with P&IN Executive passes at R32,000 including access to the Bruce Whitfield breakfast, Level 2 executive lounge, and investor matchmaking.

Download the full programme: https://apo-opa.co/3NwCble

Register: https://apo-opa.co/4cEX08g

Distributed by APO Group on behalf of VUKA Group.

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Binance Secures Second Major Legal Victory in U.S. Court Under Anti-Terrorism Act in Two Weeks

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Binance

US Federal Court in Alabama Dismisses All Claims Against Binance in Latest Lawsuit Victory

JOHANNESBURG, South Africa, March 12, 2026/APO Group/ –Binance (www.Binance.com), the world’s largest cryptocurrency exchange, announced today that a U.S. federal court in Alabama has dismissed all claims against the company in a lawsuit alleging violations of the Anti-Terrorism Act (ATA). This marks Binance’s second major legal victory in an  ATA matter within one week, following their victory in the Southern District of New York.

A Full and Complete Legal Victory

In a detailed 19-page ruling, the Court found the plaintiffs’ complaint to be legally and factually deficient. The court’s decision to dismiss every claim across the board represents a decisive legal victory for Binance.

Sanctions compliance and terrorism financing are serious matters of law – they require evidence, legal rigour, and due process

The judge described the filing as a “shotgun pleading.” The complaint failed to clearly specify the claims and improperly grouped all defendants together without distinguishing individual conduct or liability. The ruling also emphasized that the plaintiffs did not meet the basic pleading standard to provide a “short and plain statement” of their claims.

Following the ruling, the court granted the plaintiffs until April 10, 2026, to file an amended complaint addressing the deficiencies identified. However, the judge warned that failure to adequately address these issues would result in dismissal of the entire case.

Building on Momentum and Upholding Legal Integrity

“This decision reinforces our unwavering commitment to protecting Binance and our community from unsubstantiated and bad-faith lawsuits,” shared Eleanor Hughes, General Counsel at Binance. “Sanctions compliance and terrorism financing are serious matters of law – they require evidence, legal rigour, and due process. Courts have now examined these claims on two separate occasions and found them to be without merit. These outcomes speak for themselves. We will not tolerate attempts to misuse the legal system to target our industry, and we remain as committed as ever to transparency, security, and lawful conduct in everything we do”.

This latest decision follows closely on the heels of Binance’s comprehensive victory in New York (https://apo-opa.co/46Xg0ev), where the Court similarly rejected allegations that the company assisted, participated in, or conspired with terrorists. Together, these rulings reflect Binance’s strong resolve to protect its platform and community.

Binance has consistently invested in industry-leading compliance infrastructure, regulatory engagement, and legal governance. The company will continue to vigorously defend itself against any attempts to bring unfounded claims or misrepresent its operations.

Distributed by APO Group on behalf of Binance.

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