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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.

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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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Beyond Stabroek: Guyana’s Offshore Basin Attracts New Wave of Exploration Investment

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As ExxonMobil advances appraisal activity in Stabroek and new operators target frontier acreage, Guyana is attracting global capital and building a diversified offshore portfolio designed to sustain long-term growth

GEORGETOWN, Guyana, August 7, 2026/APO Group/ –Guyana’s transformation into one of the world’s fastest-growing oil producers is entering a new phase, with a growing network of IOCs expanding exploration activity across the country’s offshore basin. Beyond the landmark discoveries that first put Guyana on the global energy map, new drilling campaigns and licensing partnerships are creating a broader exploration ecosystem designed to support long-term production growth.

At the center of this momentum is ExxonMobil’s continued exploration and appraisal activity in the prolific Stabroek Block. The company has submitted a proposal for a 35-well exploration and appraisal drilling campaign, expected to run from 2028 through 2033, pending regulatory approval. The program would build on more than 30 commercial discoveries already made in the block, with drilling activity focused on evaluating new prospects and appraising existing discoveries to support future development opportunities.

Exploration activity is also extending into Guyana’s frontier acreage, with ExxonMobil advancing drilling operations at the deepwater Canje Block. The company has deployed the Noble Stena Carron drillship for exploration activity, highlighting continued industry interest in evaluating Guyana’s underexplored offshore potential beyond the established Stabroek Block.

Guyana’s strong exploration outlook comes as the country’s economy continues to benefit from rapid oil sector expansion, with hydrocarbons expected to remain a key driver of exports, government revenues and economic growth. As production scales up, attracting additional investment across exploration, services and infrastructure will be critical to supporting the next phase of development.

That momentum is being reinforced through partnerships established under Guyana’s 2023 offshore licensing round. A consortium comprising TotalEnergies, QatarEnergy and Petronas is advancing exploration activities in Block S4 under a five-year production sharing agreement signed with the government in late 2025. The award represents one of the first major outcomes of the licensing round and demonstrates continued international confidence in Guyana’s offshore resource potential.

Beyond the largest operators, a diverse group of companies is also expanding activity across Guyana’s offshore basin. Eco Atlantic is advancing exploration at the Orinduik Block; CGX Energy and Frontera Energy are progressing work in the Corentyne Block; Occidental is evaluating opportunities in the Roraima Block; while Ratio Guyana and Cataleya Energy hold interests in the Kaieteur Block. Together, these partnerships are broadening Guyana’s exploration landscape, increasing competition for acreage and creating opportunities for future discoveries.

As Guyana transitions from an emerging producer to a global energy hub, the next challenge will be converting exploration success into sustainable investment, local value creation and regional growth. These opportunities will be explored at Caribbean Energy Week 2027, held under the theme “Unlocking the Caribbean Energy Corridor: Oil, Gas, LNG & Investment for a New Global Hub.” Bringing together governments, IOCs, investors and technology providers, the event will examine how Guyana’s expanding partnerships can accelerate offshore development, strengthen regional energy cooperation and attract the capital needed to support the Caribbean’s evolving energy landscape.

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

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Energy Capital & Power Establishes London Entity, Expanding Global Platform for Energy and Mining Events

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The move strengthens ECP’s presence in the UK and Europe, and its ability to connect African and South American markets with global investors

LONDON, United Kingdom, August 6, 2026/APO Group/ –International events company Energy Capital & Power (ECP) (www.EnergyCapitalPower.com) has officially established its UK entity in London, marking a milestone in the company’s growth strategy and reinforcing its ability to deliver world-class energy and mining events and campaigns in the UK and Europe.

By establishing a presence in a key hub like London – the pre-eminent energy and mining finance center – ECP actively shapes the global energy conversation. The expansion positions ECP to better serve clients, partners and investors seeking to develop business opportunities between Africa, Europe, the Americas and energy markets worldwide.

Opening our UK company brings ECP closer to key investors in the global energy finance capital

The milestone comes as ECP strengthens its reach through a series of investment platforms that connect global capital to energy and mining projects. These include the Venezuela Energy Week London Showcase on July 30 – with over 300 delegates registered – and the annual Invest in African Energy Forum, held in Paris as the premier event connecting global investors to Africa’s energy transformation.

ECP hosts high level summits and investor conferences in leading energy and minerals producing countries in Africa and South America, including: Venezuela Energy Week; Angola Oil & Gas; MSGBC Oil, Gas & Power; African Mining Week; Libya Energy & Economic Summit; Congo Energy & Investment Forum; South Sudan Oil & Power; and Caribbean Energy Week. The company has hosted investor forums and supported licensing round roadshows in Houston, London and Paris since 2016.

“Opening our UK company brings ECP closer to key investors in the global energy finance capital,” states CEO James Chester. “Having a permanent presence in London further cements our footprint in Europe, enabling us to fulfil our mission to bring minerals and energy investment to diverse global markets.”

With teams located across Africa, Europe and the Americas, ECP has long-facilitated strategic engagement, market intelligence and industry convening, uniting investors with leading energy and mining projects.

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

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