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ExxonMobil’s Project Portfolio, Commitment to Science, Technology, Engineering, and Mathematics (STEM) to Bolster Growth in Angola

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ExxonMobil

Through a strong pipeline of oil and gas projects and various community development initiatives, ExxonMobil continues to support long-term growth in Angola

LUANDA, Angola, June 13, 2024/APO Group/ — 

ExxonMobil could inject as much as $15 billion into the development of Angola’s hydrocarbon reserves by 2030, following the success of commercial oil discoveries in the southern African country. The energy major is developing a series of large-scale projects and is committed to supporting community development through capacity building and outreach programs aimed at improving STEM-related opportunities. These endeavors are poised to strengthen the Angolan oil and gas industry while bolstering industrialization and broader economic growth.

This week, the African Energy Chamber – led by Executive Chairman NJ Ayuk – met with company leaders from ExxonMobil as part of a working visit to the country. During the meeting, the parties discussed the government’s efforts in opening up the sector and how fiscal policies have made doing business in Angola that much more competitive. ExxonMobil – celebrating 30 years of operations in Angola – has been at the forefront of many large-scale developments in the country, and the major’s renewed focus on infrastructure-led exploration; local content development; and investments in STEM will unlock new opportunities for the country. 

ExxonMobil’s rich production history in Angola underscores both the country’s oil and gas potential and the company’s commitment to spurring development in Africa. Considered a golden block, the company’s deepwater Block 15 in Angola represents one of the most successful offshore concessions in the region, with 18 commercial discoveries made. Producing for 20 years, the block hit a milestone of 2.5 billion barrels of cumulative oil production in 2023. This year, ExxonMobil made an oil discovery at the Likember-01 research well in the block. The operation, which took place in the Kizomba B development area, revealed the existence of high-quality hydrocarbon-bearing sand packages. The find follows a discovery made in 2022 at the Bavuca South-1 exploration well in Block 15, which formed part of a redevelopment plan to deliver 40,000 barrels per day (bpd) of new oil production.  

The development area is operated by ExxonMobil and developed in partnership with Angola’s state-owned Sonangol and international energy companies Equinor and Azule Energy. The Likembe-01 well is the first to be drilled as part of a broader incremental production initiative, which is spearheaded by Angola’s national concessionaire, the National Oil, Gas and Biofuels Agency and aims to increase output at already-producing concessions in the country. ExxonMobil also has an 20% participating interest in Block 17, a 15% participating interest in Block 32 and continues to operate Blocks 30, 44 and 45 in the Namib Basin, offshore Angola, with a 60% participating interest in the three blocks. This month, ExxonMobil surpassed a production level of 200,000 bpd. This represents significant materiality, a key condition for establishing Angola as a competitive oil province as well as positioning the country as a top performer in the company’s global portfolio.

The AEC commends the progress ExxonMobil continues to make in promoting women in energy, STEM-related education and economic growth in Angola

Going forward, the company is committed to drilling in the Namibe basin, with plans to invest $200 million to drill an offshore frontier exploration well by the end of 2024 in partnership with Sonangol. The campaign aims to uncover new oil and gas reserves in Angola’s underexplored acreage and, if successful, the supermajor could inject as much as $15 billion into the development of the basin by 2030. The development of a large commercial discovery is poised to result in revenue of between $20 billion and $40 billion for the country, which will serve to promote socioeconomic development, economic diversification and local content and community advancement.

“ExxonMobil’s investment in Angola continues to grow because of the enabling environment that the government continues to create for the industry. The government is making sure that the country remains competitive – especially in terms of fiscals – and is significantly improving market attractiveness for companies. This enables world-class project developments and the AEC commends the government for laying this strong foundation,” stated Ayuk.

Apart from oil and gas development, ExxonMobil is a strong advocate for STEM-related education in Angola. The company is committed to advancing opportunities for Angolan people in this area and strives to address challenges related to STEM education in the country. Specifically, the company aims to create opportunities for girls and women in STEM. During the AEC-ExxonMobil meeting, the parties discussed the critical role investments in STEM play in the country and how the company is spearheading efforts to promote education. Additionally, the parties outlined the vital role of women in the energy sector. For its part, ExxonMobil has been at the forefront of promoting gender equality in the industry. Industry leaders such as Melissa Bond, former Country Manager for Angola at ExxonMobil, and Katrina Fisher, Lead Country Manager/Managing Director for Angola at ExxonMobil, have championed these endeavors. During the upcoming AEW: Invest in African Energy conference this November (4-8), the AEC aims to bring women in energy and STEM discussions to the main stage, highlighting the importance of these topics.

Meanwhile, ExxonMobil has been outspoken in its philanthropic efforts in Angola. In May, ExxonMobil and the National Basketball Association (NBA) Africa announced the launch of a new Jr. NBA League in Luanda. The new league will feature 40 boys’ and girls’ teams for youths in the country aged 16 and under. The league is set to reach as many as 10,000 youth participants in 2024. The league will culminate with the playoffs and finals in September this year and will feature all-girls basketball clinics as part of the NBA’s Her Time to Play initiative – providing opportunities for girls to play the game and pursue careers in coaching and athletic leadership.

“The AEC commends the progress ExxonMobil continues to make in promoting women in energy, STEM-related education and economic growth in Angola. The company has been a champion of these critical issues and the AEC looks forward to working closely with the company to support the next generation of oil, gas and science in Africa,” concluded Ayuk.

Distributed by APO Group on behalf of African Energy Chamber.

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Sierra Leone’s PDSL to Host Strategic Investor Roundtable at Paris Energy Forum

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The Petroleum Directorate of Sierra Leone will lead a targeted roundtable at Invest in African Energy 2026, spotlighting upstream potential and cross-regional partnerships

PARIS, France, March 24, 2026/APO Group/ –The Petroleum Directorate of Sierra Leone (PDSL) is set to convene an investor roundtable at Invest in African Energy (IAE) Forum 2026 in Paris, underscoring growing interest in West and North African energy markets and the need for deeper capital engagement across exploration, renewable and offshore services. The session reflects a strategic effort by Sierra Leone to connect its emerging upstream prospects with established operators and project developers as the country moves to unlock the full potential of its emerging oil and gas industry.

 

Sierra Leone is increasingly positioning itself as a frontier oil and gas market with significant offshore potential, and part of the PDSL’s mandate is to catalyze investment interest in its offshore acreage through direct engagement with global capital. Recent data suggest the country holds estimated recoverable resources in the tens of billions of barrels, backed by discoveries and extensive multi‑client seismic datasets that prospective investors are evaluating. The PDSL is actively promoting licensing opportunities and drilling plans, emphasizing fiscal terms and exploration readiness to attract strategic partners.

 

A cornerstone of this strategy is the anticipated launch of the country’s sixth licensing round. Offering a rare early-entry opportunity into a largely untapped deepwater terrain with considerable upside, the upcoming bid round is backed by fresh 3D datasets which de-risk exploration and support new drilling campaigns. Just this month, GeoPartners announced that the final Pre-Stack Time Migration data for its recently acquired 3D multi-client seismic survey in the country was complete and is now available for licensing. The dataset provides a 3D window into the hydrocarbon potential of the underexplored northern Sierra Leone region.

 

Sierra Leone’s licensing drive comes as major operators advance exploration activities. In 2025, Eni signed a Reconnaissance Permit Agreement with the PDSL, securing rights to conduct reconnaissance and technical evaluation activities across offshore blocks G113, G129, G130, G131 and G132. The acreage covers 6,790 square kilometers within Sierra Leone’s territorial waters. Nigeria’s F.A. Oil Limited is pursuing drilling following its award of six offshore blocks through the country’s fifth licensing round in 2023. The company is currently seeking a farm-in partner to advance the project from exploration to production, offering a 40% stake in each of the G Blocks 53, 54, 55, 71, 72 and 73.

 

As these development unfold, the upcoming roundtable at IAE 2026 offers a unique opportunity for operators and policymakers to engage potential investors. The IAE 2026 Forum has become a strategic bridge between African upstream opportunities and global investors, with sessions like the PDSL roundtable designed to foster deeper dialogue and provide clarity on project pipelines and investment prerequisites. Discussions are expected to cover mechanisms for de‑risking exploration activity, optimizing fiscal and contractual frameworks and identifying synergies between hydrocarbon investment and renewable energy commitments.

 

For investors seeking differentiated exposure to African energy markets, the Sierra Leone roundtable represents both a focused exploration of frontier oil potential and a broader conversation about regional infrastructure, partnerships and the evolving demands of energy capital in the years ahead.

 

IAE 2026 (www.Invest-Africa-Energy.com) is an exclusive forum designed to connect African energy markets with global investors, serving as a key platform for deal-making in the lead-up to African Energy Week. Scheduled for April 22–23, 2026, in Paris, the event will provide delegates with two days of in-depth engagement with industry experts, project developers, investors and policymakers. For more information, visit www.Invest-Africa-Energy.com. To sponsor or register as a delegate, please contact sales@energycapitalpower.com

 

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

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Cape Town Prepares for African Mining Week 2026 as Draft Program Reveals Continent’s Mineral Drive

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African Mining Week returns for its 2026 edition with an expanded three-day program, bringing together African mining leaders and global partners to shape the future of the continent’s mining sector

CAPE TOWN, South Africa, March 24, 2026/APO Group/ –Global economic trends – from record-breaking commodity prices to intensifying geopolitical competition for resources – are reshaping the strategic importance of Africa’s mineral wealth. As global countries race to secure supply chains for energy transition metals – which are expected to triple by 2030 – Africa is positioning its 30% share of the world’s critical minerals as a key pillar of economic growth. African governments are modernizing mining codes, developing industrial corridors and investing in mineral processing facilities to support local beneficiation, job creation, workforce development and regional mineral markets.

 

Against this backdrop, the upcoming African Mining Week (AMW) Conference & Exhibition – Africa’s premier gathering for mining stakeholders – has launched the draft program for its 2026 edition {https://apo-opa.co/3NneKLj}. Scheduled to take place October 14–16 in Cape Town, the event provides a platform where policymakers, global investors, project operators, technology providers, academia and mining service companies examine Africa’s mining opportunities, challenges and long-term strategic direction.

Under the theme ‘Mining the Future: Unearthing Africa’s Full Mineral Value’, the three-day, multi-track agenda reflects the growing urgency among African markets to strengthen value addition across the mining value chain.

Regional Cooperation and Policy Alignment in Focus

A key feature of the agenda is the Ministerial Forum, where African mining ministers will provide updates on regulatory reforms and policy alignment initiatives aimed at unlocking greater value from the continent’s mineral resources. Discussions will examine how harmonized regulatory frameworks and regional cooperation can accelerate investment flows and strengthen Africa’s position in global mineral supply chains.

The inclusion of regional policy integration reflects a growing continental push to leverage frameworks such as the African Continental Free Trade Area (AfCFTA) to enhance cross-border mineral cooperation and trade.

We are acting to enhance regional integration through frameworks such as the African Mining Vision and the Africa Mineral Strategy Group

“Africa’s integration is not only a political objective but a strategic economic vision,” stated Emmanuel Armah-Kofi Buah, Ghana’s Minister of Lands and Natural Resources, in remarks reported by Energy Capital & Power – organizers of AMW – in February 2026. “Our natural resources require coordinated policies. Isolated legal frameworks cannot fully unlock their value. Through integration and initiatives such as the ECOWAS [Economic Community of West African States] Mining Code and the African Mining Vision, we can build a stronger and more competitive mineral economy.”

Nigeria’s Minister of Solid Minerals Development, Henry Alake, echoed this emphasis on regional cooperation and beneficiation.

“We are acting to enhance regional integration through frameworks such as the African Mining Vision and the Africa Mineral Strategy Group,” he stated. “We must develop mineral corridors that connect resources, infrastructure and markets across the continent. Our goal is not to simply export raw materials, but to develop industrial hubs that create jobs and value across borders.”

Connecting Global Investors with African Opportunities

Strategic roundtables and Country Focus sessions form a key part of the AMW 2026 program, connecting African mining jurisdictions with international partners from the U.S, Europe, the Middle East and China. These sessions will provide African stakeholders with a platform to showcase exploration opportunities and project pipelines across the mining value chain.

Meanwhile, technical workshops and the exhibition floor at AMW 2026 will provide a platform for equipment manufacturers, technology providers and engineering firms to showcase innovations designed to enhance operational performance across mining operations.

By combining high-level policy dialogue with technical expertise and investment matchmaking, AMW 2026 positions itself as a critical marketplace where Africa’s mineral potential converges with global capital, technology and strategic partnerships – helping shape the next phase of growth for the continent’s mining sector.

AMW serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2026 conference from October 12-16 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

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

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Tony Elumelu Foundation Selects Seven North African Entrepreneurs in 2026 Cohort

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Seven North African entrepreneurs in technology, education, professional services and agriculture selected from 265,000 applications at historic Abuja ceremony

Hope is not just a feeling — it is a system we can build

ABUJA, Nigeria, March 24, 2026/APO Group/ —
  • 7 North African entrepreneurs selected from Morocco, Tunisia and Egypt
  • 51% of the 2026 cohort are women, all selected purely on merit, without any quota in place
  • 3,200 total entrepreneurs selected from 265,000+ applications across 54 African countries
  • USD 5,000 in non-refundable seed capital for each selected entrepreneur
  • Selection conducted independently by Ernst & Young

 

The Tony Elumelu Foundation (TEF) (www.TonyElumeluFoundation.org), the leading philanthropy empowering young African entrepreneurs, announced on Sunday, 22 March 2026 the 12th cohort of the TEF Entrepreneurship Programme at a ceremony held at the Transcorp Hilton, Abuja. The announcement was made by Founder Tony O. Elumelu, C.F.R.

 

Among the 3,200 entrepreneurs selected from 265,000 applications received from all 54 African countries: seven from North Africa. Three from Tunisia, two from Morocco, two from Egypt. Spanning technology, education, professional services and agribusiness, they represent a generation of North African founders building businesses that address the urgent needs of their communities. Their selection, which was conducted independently by Ernst & Young, places them among the most rigorously assessed young entrepreneurs on the continent.

 

This year’s cohort carries a historic signal: 51 percent of the 2026 entrepreneurs are women. They were selected purely on merit, without quota. Across hundreds of thousands of applications, women distinguished themselves through the strength of their ideas, the clarity of their business models and the ambition of their vision.

 

In 2026, the Foundation is empowering a total of 3,200 entrepreneurs across all its entrepreneurship programmes:

 

  • 1,751 entrepreneurs through Heirs Holdings Group: Heirs Energies, Transcorp Power, Transcorp Hotels, and United Capital;
  • 1,049 entrepreneurs in partnership with the European Commission, OACPS, BMZ and GIZ;
  • 100 entrepreneurs in partnership with Sèmè City Development Agency;
  • 100 entrepreneurs in partnership with DEG, the German Development Agency;
  • 100 entrepreneurs in partnership with the IKEA FoundationUNICEF’s Generation Unlimited and the Dutch Government; and
  • 100 entrepreneurs in partnership with UNDP and the Rwandan Ministry of Youth and Arts.

 

 

Each selected Tony Elumelu Entrepreneur will receive USD 5,000 in non-refundable seed capital, access to world-class business management training on TEFConnect, one-on-one mentorship, and entry into a powerful network of investors, partners and fellow entrepreneurs.

 

In his annual letter (https://apo-opa.co/4uOFepM), “A Story of Hope,” Tony O. Elumelu, C.F.R., Founder of the Tony Elumelu Foundation, shared a powerful message to the new cohort:

 

“For a long time, I believed luck was something that simply happened to you. Then I came to understand: luck can be engineered. Opportunity can be democratised. Hope is not just a feeling — it is a system we can build.” — Tony O. Elumelu, C.F.R., Founder, Tony Elumelu Foundation — 2026 Annual Letter

 

The Tony Elumelu Foundation has empowered over 2.5 million young Africans with access to business management training on TEFConnect (https://TEFConnect.com), and disbursed over USD 100 million in seed capital to more than 24,000 selected entrepreneurs.

 

Collectively, these entrepreneurs have generated USD 4.2 billion in revenue and created more than 1.5 million direct and indirect jobs. Through its support for African entrepreneurs, TEF has lifted 2.1 million Africans above the poverty line and positively impacted more than 4 million African households, with 46% of supported entrepreneurs being African women. Eighty percent of TEF-supported businesses survive and scale, against a global average of ten to twenty percent.

 

 

The announcement ceremony was broadcast live in English (https://apo-opa.co/3PWLiML), French (https://apo-opa.co/3PWLiML), Portuguese (https://apo-opa.co/4t4Y7Da) and Arabic (https://apo-opa.co/4bYHlQl).

 

Distributed by APO Group on behalf of The Tony Elumelu Foundation.

 

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