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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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2 years ago

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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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AFRICLOUD Opens Lagos Region and Local-Currency Payments in African Markets

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6 hours ago

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September 23, 2026

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AFRICLOUD

The company’s third African region keeps Nigerian workloads in Nigeria, and customers from Abidjan to Nairobi can now pay in the currency they earn, without an international card

MIAMI BEACH, United States of America, September 23, 2026/APO Group/ –AFRICLOUD (https://AFRICLOUD.com), a cloud infrastructure company, has opened its third African region in Lagos and now accepts payment in local currency across West, Central, East and Southern Africa. Businesses across the continent can run servers in Nigeria, South Africa or Portugal from one account, and pay for them the way they already pay for everything else.

 




  

Download document (1): https://apo-opa.co/4Ardfz9

Download document (2): https://apo-opa.co/46FWH8Y

Buying cloud infrastructure in Africa has meant living with three compromises: traffic that leaves the continent and comes back, payment in dollars behind a card many businesses do not hold, and data sitting under somebody else’s law.

Lagos answers the first. Compute and storage for Nigerian customers stay in Nigeria, and the region also serves Accra, Abidjan, Lome, Douala and Ouagadougou. Traffic from landlocked West Africa that once reached comparable infrastructure by way of Europe now stays on terrestrial West African fibre. Johannesburg serves Southern and East Africa. Lisbon serves North Africa and Europe, and reaches Brazil over a direct subsea route. Across the three regions, AFRICLOUD’s own continent-wide measurements place 42 of the 53 African countries measured within a best-case round trip of 70 milliseconds, countries home to about 1.28 billion people.

A company in Accra or Abidjan now reaches West African infrastructure without leaving the region, and pays for it in the currency it earns

Payment answers the second. Customers across West, Central, East and Southern Africa pay in their own currency, including the naira, the cedi, the shilling and the CFA francs, by local card, bank transfer, USSD or mobile money, with no international card needed. Mobile money is live in twelve African countries, and cards, PayPal and more than 300 cryptocurrencies are accepted everywhere. The GSMA reports that 74 per cent of the world’s mobile money activity by transaction count took place in Africa in 2024.

Residency answers the third. Nigerian data runs under the Nigeria Data Protection Act, South African data under POPIA and European workloads under EU law, chosen server by server from the same dashboard.

“African businesses have been asked to choose between infrastructure that is close, infrastructure they can actually pay for, and infrastructure that keeps their data under their own law,” said Oluniyi Ajao, Founder of AFRICLOUD. “Removing that choice is the reason we built this.”

“Lagos is the piece that completes the map,” he said. “A company in Accra or Abidjan now reaches West African infrastructure without leaving the region, and pays for it in the currency it earns.”

All three regions run the same platform: AMD EPYC processors with all-NVMe storage, IPv4 and IPv6 on every server, and a new server online in about two minutes. Dedicated Servers are built to order in all three regions. Support is available around the clock by chat and email.

Cloud Servers are available now at https://AFRICLOUD.com.

Distributed by APO Group on behalf of AFRICLOUD LLC.

 

 




 

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Hong Kong outlines strategies for deepening development of the Guangdong-Hong Kong-Macao Greater Bay Area and enhancing green transformation

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11 hours ago

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September 23, 2026

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Hong Kong

HONG KONG SAR – Media OutReach Newswire – 22 September 2026 – Hong Kong’s Chief Executive John Lee announced the First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (HKSAR) (2026-2030) and his fifth Policy Address on September 16, rolling out measures to further sharpen Hong Kong’s edge amid global competition, consolidate development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and promote green transformation.

Initiatives aim to support high-quality development of the GBA, align rules and mechanisms within the region, and promote cross-boundary collaboration.

 




 
 

“The HKSAR Government will continue its efforts in fostering synergistic development of the GBA,” said Mr Lee. “We will strengthen co‑operation in technological innovation, promote ‘hard connectivity’ in infrastructure, foster ‘soft connectivity’ by deepening the alignment of rules and mechanisms, and achieve ‘connectivity of hearts’ among residents of the three places.”

The HKSAR Government will continue to actively participate in the development of the various major co-operation platforms, including Qianhai of Shenzhen, Nansha of Guangzhou, Hengqin of Zhuhai and the Hetao Shenzhen-Hong Kong Co-operation Zone, to promote mutual benefits.

In terms of “hard connectivity” the HKSAR Government will support Nansha in its role as a high‑standard gateway for opening up, including encouraging the trade to participate in Nansha’s infrastructure development.

“To promote the co‑ordinated development of rail transit in Guangdong, Hong Kong and Macao, we are pressing ahead with the Northern Link Project and the Hong Kong‑Shenzhen Western Rail Link (Hung Shui Kiu‑Qianhai), with target commissioning in 2034 and 2035 respectively, to fully connect the rail transit networks of Hong Kong and Shenzhen,” Mr Lee said.

Regarding “soft connectivity”, Mr Lee said the HKSAR Government will set up a Task Force to explore ways to advance the alignment of rules and mechanisms within the GBA.

To achieve “Connectivity of Hearts” among residents across the GBA, Hong Kong will strengthen co-operation between its higher education institutions and those in other GBA cities by establishing cross‑disciplinary partnerships, facilitating scientific research, knowledge transfer, and commercialisation, with a view to promoting high‑level research.

Hong Kong’s Secretary for Constitutional and Mainland Affairs, Janice Tse, noted that the First Five-Year Plan clearly states that Hong Kong will participate in the development of the GBA into an international first‑class bay area and a world‑class city cluster with global influence.

“Hong Kong will forge closer alignment and synergy with the nine GBA cities in Guangdong Province and Macao, making full use of our respective advantages to jointly promote the high-quality development of the GBA,” Miss Tse said.

To foster financial development in the GBA, Hong Kong will continue to capitalise on institutional innovation, financial infrastructure upgrading and enhanced regulatory alignment to encourage the orderly flow of financial elements among GBA cities.

The Hong Kong Exchanges and Clearing Limited’s Core Climate, in collaboration with the Guangzhou Power Exchange Centre, is working towards the pilot trading of national renewable‑energy, green electricity certificates in Hong Kong in 2026.

“On connecting the Chinese Mainland and the world, the HKSAR Government will continue to support green technology development through the HK$400 million (aboutUS$51 million) Green Tech Fund, leveraging Hong Kong’s function as a springboard for green technology and assisting national green technologies and products in going global,” said Hong Kong’sSecretary for Environment and Ecology, Tse Chin-wan. “On the development of hydrogen energy, we have participated in drafting national hydrogen energy standards with a view to helping these standards align with international practice.”

To meet the country’s “dual carbon” targets and fulfil Hong Kong’s commitment to achieving carbon neutrality before 2050, the HKSAR Government steered the establishment of a production base for sustainable aviation fuel (SAF) in Dongguan, leveraging the leading position of Hong Kong enterprises in the international SAF industry.

“By combining technology strengths with industrial foundation, Hong Kong and Guangdong will jointly develop a globally influential green industry,” Mr Lee said.

The HKSAR Government will take forward the construction of an SAF blending facility in Hong Kong to build an end‑to‑end SAF value chain and reduce logistics costs to make SAF prices more competitive. The target is to achieve an SAF consumption ratio of 1% to 3% for flights departing from Hong Kong International Airport in 2030.

Hong Kong’s Five-Year Plan promotes the integrated development of culture, sports, and tourism, to develop the GBA into a cultured bay area.

Under the strategic framework of the Agreement on Strengthening of Sports Cooperation and Promotion of Integrated Development, Hong Kong will deepen co-operation, and strive to co‑organise important regional and international single‑sport events. It will also strengthen cultural exchanges, pass on Cantonese opera and the characteristics of Lingnan culture, and promote the sales and cross‑boundary exhibition of Hong Kong publications.
 




 

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Alamein Africa Forum to bring together key political and business leaders

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12 hours ago

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September 23, 2026

By

Alamein

The forum is to become the continent’s premier gathering where political power meets entrepreneurial prowess, bridging the established engines of African growth with the new sectors defining its future

CAIRO, Egypt, September 22, 2026/APO Group/ –The inaugural Alamein Africa Forum (https://AlameinForum.com/) will take place from October 2-4 in the historic city of Alamein on Egypt’s Mediterranean coast in parallel with the 2026 African Union mid-year summit.

Established in response to a mandate from the African Union, which called for a permanent African Business Forum to convene biennially in Egypt, the inaugural edition will bring together Heads of State and official delegations as well as some key actors in business and finance.
 




 

The forum is to become the continent’s premier gathering where political power meets entrepreneurial prowess, bridging the established engines of African growth with the new sectors defining its future.

The Alamein Africa Forum will serve as a pan-African platform bringing together the private sector, investment and financial institutions

The Presidents of Algeria, Angola, Burundi, Chad, Equatorial Guinea, Ghana, Libya, Senegal, Somalia, and South Africa are expected in Alamein as well as President Al Sisi, President of the Arab Republic of Egypt who is the host of this year’s AU Mid-Year Summit. Business leaders from across the continent have confirmed their participation including Ralph Mupita, MTN; Idrissa Nassa, Coris Bank; Mohamed El Ketani, Attijariwafa Bank; Hichem Eloumi, Groupe Shakira; Wale Tinubu, Oando; and many more. Aliko Dangote, Africa’s biggest industrialist is also expected to attend, with the organisers hoping to set up a Business Advisory Council to help advance private sector priorities and investment throughout the continent.

Bringing together leaders in politics, business and policy from across the continent, the Alamein Africa Forum will provide a unique opportunity to shape Africa’s growth agenda by aligning policy and investment priorities, mobilising partnerships for implementation and strengthening financing and investment pathways. The private sector must become an integral part of Agenda 2063, the AU’s strategic 50 year masterplan to transform the continent.

Co-organised by the Government of Egypt, Afreximbank, the African Union and AUDA-NEPAD, the Forum brings together Africa’s most influential decision-makers in an unprecedented alliance of public and private sector leadership.

Speaking on the imperative of the summit at a joint press conference by the government of Egypt and Afreximbank on Thursday, September 17 2026, Dr. Badr Abdelatty, Minister of Foreign Affairs, International Cooperation, and Expatriates Abroad said (https://apo-opa.co/4ygiQag): “The Alamein Africa Forum will serve as a pan-African platform bringing together the private sector, investment and financial institutions, and representatives of various productive and service sectors, to strengthen direct links between companies and markets and decision making at the highest level.”

Continuing, he noted that the Alamein Africa Forum is part of a series of high-level African events that Egypt will host in early October, stressing that holding the forum reflects Egypt’s commitment to advancing continental economic cooperation

In his own comments, Dr. George Elombi, President and Chairman of the Board of Directors of Afreximbank described (https://apo-opa.co/4ygiQag) the Alamein Africa Forum as a pan-African platform for promoting intra-African trade and investment and connecting the business community and financial institutions with priority projects and investment opportunities in the continent.

Distributed by APO Group on behalf of Alamein Africa Forum.

 




 

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