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Gabon Oil Company DG to Present Investment Opportunities at African Energy Week (AEW) 2024 Amid Anticipated Production Growth

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Gabon Oil Company

Seeking to establish itself as a competitive upstream player, Gabon Oil Company Director General Marcellin Ngabi has joined the African Energy Week: Invest in African Energy conference this November

CAPE TOWN, South Africa, July 18, 2024/APO Group/ — 

Gabon has set an ambitious target to increase production to 220,000 barrels per day (bpd). The country is promoting investment in on- and offshore acreage while creating opportunities for marginal field development to achieve this goal. With over two billion barrels of proven oil reserves, the country is committed to monetizing undeveloped hydrocarbons to support long-term and sustainable economic growth.

As the national oil company (NOC), Gabon Oil Company (GOC) strives to spearhead production growth while collaborating with international players to mitigate natural declines and optimize mature fields. GOC’s General Director Marcellin Ngabi will speak at the African Energy Week (AEW): Invest in African Energy conference – scheduled for November 4-8 in Cape Town – about strategies for maximizing oilfield development. During the event, Ngabi is also expected to outline attractive investment opportunities in the country’s oil and gas sector while engaging with a suite of regional and global players.

AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit https://www.AECWeek.com for more information about this exciting event.

By prioritizing near-field development and supporting exploration campaigns offshore, the country is well on track to increase production

While Gabon is one of Africa’s most historic oil producers, natural declines in mature fields have seen production fall in recent years. As such, the country is revitalizing its hydrocarbon industry by implementing attractive fiscal and contractual policies, incentivizing exploration and deploying innovative technologies to enhance oil recovery. At the helm of this is the GOC, which has been acquiring assets to drive production growth across the country. In February 2023, the NOC acquired the Gabonese assets of private equity firm Carlyle – the owner of oil and gas company Assala Energy. The deal includes seven onshore production licenses, a pipeline network and the Gamba export terminal. Assala Energy represents the second biggest producer in the country and focuses on brownfield assets.

The deal comes amid a string of upstream developments in the country, all of which the GOC has interests in. In November 2023, oil and gas company BW Energy made a commercial discovery at its Hibiscus South satellite prospect offshore Gabon. The discovery was estimated to contain approximately 16 million barrels of oil in place. In March 2024, the company announced that production had officially commenced – averaging between 5,000 and 6,000 bpd -, merely five months since the discovery was made. This fast-tracked approach aligns with national objectives to bring new projects online and fast. Concurrently, the company increased production at the Dussafu Marin Permit after completing four production wells in 2023. Each well produces an average of 6,000 to 6,500 bpd.

Meanwhile, independent oil and gas Perenco began appraisal drilling near its Hylia South West discovery in February 2024. The company targets additional reservoirs and to establish estimated oil volumes in place – estimated between 20 and 100 million barrels. Independent energy company VAALCO Energy is purusing near-field development at the Etame Marin Offshore Fields Development while energy major TotalEnergies is investing in well intervention after signing a 25-year contract for the Baudroie-Mérou Marine G5-143 permit. As such, across the country, focus has shifted towards optimizing mature and marginal assets while leveraging innovative technology to ensure every drop is recovered.

Beyond existing fields, companies are ramping up exploration. Chinese firm CNOOC began wildcat drilling at Blocks BC-9 and BCD-10 in 2023. The company is looking at deploying an FLNG vessel following the discovery of sufficient oil and gas volumes. To support production growth, further exploration is required and the GOC is committed to supporting projects in this area.

In addition to oil developments, the GOC is driving natural gas monetization in the country, leveraging the Gas Master Plan to support project development. Gabon aims to rapidly expand the domestic gas industry by developing the estimated three to five trillion cubic feet of reserves to support economic growth and energy access. Priority areas include LPG, LNG and CNG solutions, gas-to-power and associated downstream industries. The Gas Master Plan aims to reduce flaring, develop domestic industries and support a transition to alternative sources of fuel. Ongoing projects include Perenco’s $1 billion Cap Lopez LNG terminal, set to come online in 2026. The project will produce 70,000 tons of LNG per annum and 25,000 tons of LPG. Additionally, the company’s LPG plant in Batanga – which came online in December 2023 – produces 15,000 tons of LPG per annum.

“Gabon is making great strides towards monetizing resources at both mature and emerging assets. The GOC has been at the forefront of this. By prioritizing near-field development and supporting exploration campaigns offshore, the country is well on track to increase production. At the same time, efforts to strengthen the domestic gas economy is already bearing fruit as LNG and LPG projects gain momentum. This fast-tracked, multi-faceted approach to oil and gas development is a model that should be replicated continent-wide,” states NJ Ayuk, Executive Chairman of the African Energy Chamber.

Distributed by APO Group on behalf of African Energy Chamber.

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RIOT Network and MediaTek collaboration expands digital access in South Africa through innovative, community-driven Wi-Fi solutions

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MediaTek

RIOT Network aims to make fast, unlimited Wi-Fi services accessible for people in townships and underserved communities

JOHANNESBURG, South Africa, November 22, 2024/APO Group/ — 

MediaTek (www.MediaTek.com), a global fabless semiconductor company powering nearly 2 billion connected devices a year, and RIOT Network (https://RIOT.Network), a community mobile broadband provider in South Africa, have announced the successful integration of Mediatek’s Filogic 830 (https://apo-opa.co/3CIbkNl) chipset into RIOT’s second-generation CROWDNet Core Nodes.

The successful deployment of the CROWDNet nodes has enabled RIOT Network to achieve its aim of offering uncapped internet at an affordable price of R99 per month, and to do so profitably. To date, RIOT Network, in partnership with Sonke Telecommunications, has leveraged the nodes to connect more than 800 households and 5000 users in Olievenhoutbosch to uncapped Wi-Fi services.

RIOT Network aims to make fast, unlimited Wi-Fi services accessible for people in townships and underserved communities. Its CROWDNet Nodes, enable an innovative model for deploying user-operated network infrastructure. Community members serve as operators of some of the core network devices to earn a share of the fee from neighbours who use the service.

With each new connection, RIOT Network is highlighting the role of innovative fixed-wireless solutions in extending broadband access and improving digital inclusivity

CROWDNet powered by MediaTek Filogic 830 brings affordable, last-kilometre broadband to communities where it is not commercially viable to deploy towers or fibre. The MediaTek Filogic 830 is a high-performance SoC for routers, repeaters, access points and mesh networking devices. The SoC enables device makers to build-in powerful applications based on an energy-efficient, Wi-Fi 6-ready platform.

“The Mediatek’s Filogic 830 chipset delivers a unique balance of high performance and cost-efficiency, allowing us to keep operational costs low while maximising network reliability and speed,” said Jarryd Bekker, CEO at RIOT Network. “This combination of affordability and sustainable business growth is pivotal to our vision of expanding digital access in underserved communities. Our work in Olievenhoutbosch near Centurion demonstrates the power of reliable, affordable internet, creating new opportunities for economic and social engagement.”

“With each new connection, RIOT Network is highlighting the role of innovative fixed-wireless solutions in extending broadband access and improving digital inclusivity,” said Rami Osman (https://apo-opa.co/4ghZBUn), Director for Business Development, MediaTek Middle East and Africa. “We look forward to supporting RIOT in building a future where high-quality internet is accessible and impactful for all.”

Distributed by APO Group on behalf of MediaTek Inc

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African Energy Chamber (AEC) Endorses Inaugural Congo Energy & Investment Forum, Catalyzing Growth in the Republic of Congo’s Energy Sector

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African Energy Chamber

The African Energy Chamber proudly supports the inaugural Congo Energy & Investment Forum, scheduled for March 25-26, 2025 in Brazzaville

BRAZZAVILLE, Republic of the Congo, November 21, 2024/APO Group/ — 

The African Energy Chamber (AEC), as the voice of Africa’s energy sector, proudly supports the inaugural Congo Energy & Investment Forum (CEIF), set to take place in Brazzaville on March 25-26, 2025. Unveiled during African Energy Week: Invest in African Energies in Cape Town by the Republic of Congo’s Ministry of Hydrocarbons, this milestone event signals the nation’s commitment to strengthening its role as a key energy player on the continent, while showcasing a range of investment opportunities. 

Under the leadership of Hydrocarbons Minister Bruno Jean-Richard Itoua, the Republic of Congo has emerged as sub-Saharan Africa’s fourth-largest oil producer, with anticipated production of 280,000 barrels per day (BPD) by the end of 2024 and ambitions to reach 500,000 BPD within three to five years. Building on this momentum, the CEIF will highlight innovative projects and foster strategic partnerships that enhance investment, drive economic growth and position the Congo as a leader in Africa’s energy expansion.

Meanwhile, Société Nationale des Pétroles du Congo (SNPC), led by CEO Maixent Raoul Ominga, is spearheading the Congo’s energy growth. SNPC holds a majority stake in the Mengo Kundji Bindi II permit, with 2.5 billion barrels of estimated oil potential. The company is developing the site through 13 wells, 3D seismic data acquisition, and the construction of six production platforms. 

We are honored to secure the Chamber’s endorsement for this pivotal forum

With the Chamber’s official support, the CEIF is set to attract government leaders, C-suite executives from major IOCs and energy experts, who will offer critical insights into Congo’s oil, gas and energy sector developments. The country is overhauling its gas sector to unlock 10 trillion cubic feet of resources through a comprehensive Gas Master Plan and new Gas Code that introduces favorable fiscal terms and enables small-scale project development, as well as large-scale, integrated gas megaprojects like Eni’s Congo LNG and Wing Wah’s Bango Kayo. 

“The Congo Energy & Investment Forum marks a major milestone for the country, amplifying its strategic energy initiatives and showing industry stakeholders that it is serious about advancing its energy sector. We look forward to supporting this forum, which promises to connect investors, drive impactful partnerships and elevate the Congo’s position within Africa’s energy sector,” says NJ Ayuk, Executive Chairman of the AEC.  

“We are honored to secure the Chamber’s endorsement for this pivotal forum, which, through its vast network and influence, will help attract key stakeholders and decision-makers to the event. Together, we aim to highlight the immense potential of the Congo’s energy sector, foster strategic partnerships and drive transformative investments that contribute to sustainable growth across the industry,” notes James Chester, CEO of Energy Capital & Power, organizers of the CEIF.   

This premier forum provides a unique platform for connecting local and international investors with high-impact opportunities across a diversified range of energy projects, paving the way for collaborations that drive growth and transformation. The AEC’s endorsement underscores its commitment to fostering strategic partnerships, sustainable investment and regional cooperation, aligning with its broader mission to make energy poverty history across the continent by 2030.  

As the energy industry continues to serve as a critical pillar of the Congolese economy and a catalyst for sustainable development, the AEC remains dedicated to supporting initiatives like CEIF that foster progress, investment and partnerships across the African energy landscape. 

For more information, please visit www.CongoEnergyInvestment.com

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

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Any Successful African Energy Policy at Conference of the Parties (COP) or Anywhere Must Have Oil and Gas at its Core (By NJ Ayuk)

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Conference of the Parties

Africa will need global financial systems, including multilateral development banks, to play a significant role in financing our energy growth which must include fossil fuels

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JOHANNESBURG, South Africa, November 21, 2024/APO Group/ — 

By NJ Ayuk, Executive Chairman of the African Energy Chamber (www.EnergyChamber.org).

I believe the ultimate responsibility for getting there is ours and no one else’s. Yes, we need partners to walk alongside us, but the success of our energy movement rests on African shoulders.

To begin with, I would love to see African energy stakeholders speaking in a unified voice about African energy industry goals.

This will be particularly important in COP29 in Baku. It is imperative that African leaders present a unified voice and strategy for African energy transitions. We must make Africa’s unique needs and circumstances clear and explain the critical role that oil and gas will play in helping Africa achieve net-zero emissions in coming decades.

I would encourage African leaders to talk about the need for financing, as well, to make it possible for us to adopt renewable energy sources and set up the necessary infrastructure. Africa will need global financial systems, including multilateral development banks, to play a significant role in financing our energy growth which must include fossil fuels.

Africa’s governments have a role to play in a successful African energy movement as well.

Because Africa’s energy industry still can benefit greatly from the presence of international oil companies, our government leaders need to approve contracts with oil and gas companies promptly instead of allowing red tape to delay projects after discoveries are made.

And, they need to offer the kinds of fiscal policies that allow oil companies to operate profitably in Africa. In turn, that will help those companies generate revenue, create jobs and business opportunities, and foster capacity building.

I also would encourage governments and civil societies to reward companies that exemplify positive behavior. Let’s incentivize the kind of activities we want, from creating good jobs and training opportunities to sharing knowledge.

I would love to see African energy stakeholders speaking in a unified voice about African energy industry goals

And there’s more.

We in Africa must work together to create more opportunities for women to build careers in the oil and gas industry at all levels. Our energy industry can’t reach its potential to do good when half of our population is left out. Our progress on behalf of women has not been great—We need to do better, and we need to act quickly.

How the world can support

Now, I mean it when I say Africans are responsible for building the future they want. But, I would love to see Western governments, businesses, financial institutions, and organizations support our efforts.

How? They can avoid demonizing the oil and gas industry. We see it constantly, in the media, in policy and investment decisions, and in calls for Africa to leave our fossil fuels in the ground. Actions like these, even as Western leaders have pushed OPEC to produce oil, are not fair, and they’re not helpful.

I also would respectfully ask financial institutions to resume financing for African oil and gas projects and stop attempting to block projects like the East African Crude Oil pipeline or Mozambique’s LNG projects.

Please understand that with the war in Ukraine, the energy crisis in Europe, and the energy poverty facing our continent, our countries, like many others, are simply choosing the paths they believe are most likely to help their people.

You know, people for years have accused me of loving oil and gas companies more than Africa. The opposite is true. In my frequent travels around the continent, I’ve observed far too many young people with little in the way of opportunities.

I know our young people have aspirations for a better future. I know they have big dreams. And, I know that future is nearly within their grasp.

A thriving, strategically managed energy industry can make it possible for many of these young people, whether it leads to good jobs or it fosters the kind of economic growth that creates jobs in other fields. Even if we only get the lights on in their communities, we’ll be giving our young people hope and improving their chances of realizing their goals.

This is what drives me, the idea that with our ongoing efforts and determination, our young people can realize meaningful opportunities. I encourage each of you to work with us at the African Energy Chamber, in a spirit of cooperation and mutual respect. Together, we can build the kind of African energy movement that our continent, our communities, and our young people need and deserve.

Distributed by APO Group on behalf of African Energy Chamber.

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