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Gabriel Obiang Lima Delivers Strong Gas Narrative in Exclusive African Energy Chamber (AEC)-Hosted Roundtable Session

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Gabriel Mbaga Obiang Lima

Speaking during an exclusive roundtable session organized by the African Energy Chamber, Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea made a strong case for advancing gas monetization in Africa

JOHANNESBURG, South Africa, January 10, 2023/APO Group/ — 

Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea and the President of both the GECF and OPEC for 2023, gave exclusive insight into Equatorial Guinea’s energy sector during a roundtable session organized by the African Energy Chamber (AEC) (http://www.EnergyChamber.org). Moderated by NJ Ayuk, Executive Chairman of the AEC, the Minister highlighted the agenda of the Organization of Petroleum Exporting Countries (OPEC) and intra-Africa collaboration while providing updates on several Equatorial Guinean energy projects.

The African Energy Chamber is hosting the Invest in African Energy New Year Reception in London at the end of this month. What role do you feel European stakeholders will play in Africa’s energy expansion this year and what key messages do you hope to see driven at the event? 

It is a very wise move for one key reason. London, for many years, has been the single funding supplier for oil and gas in Africa. When we wanted to get money to drill, we went to London. Now I believe there will be a new opportunity for the funding sector in the UK to take the opportunity to invest in Africa. This does not only include oil but gas, and the UK is one of the main consumers of gas. To secure that resource, you need to provide the money for it.

What’s your position on using Equatorial Guinea sovereign funds and investing those funds into an African energy bank?

People need to realize that the creation of a sovereign fund is a privilege for some countries. Our access to sovereign funds is unequal compared to big producers. This solution cannot be an opportunity for every producer. Pension funds in Nigeria compared to Equatorial Guinea are different. Small markets and small producers find it more difficult.

When it comes to OPEC, we saw several countries failing to meet their targets, including Equatorial Guinea. What has been behind that and do you foresee a recovery in the next few months?

Simply put, it’s money. Any oil and gas producing country struggles with funding. Even exploration companies, because to drill wells, they need to raise their own money. Right now, we have close to 64 wells that need to be redrilled, and for this, we cannot find funds. A lot of infrastructure has been designed for a specific period and without funds, we are left with a lot of problems. For us to continue exploring, we need to reinvest. This is where we are finding difficulty. It has nothing to do with oil running out, it is that funding is more limited.

You have pending exploration contracts with companies. Can we expect these to be signed soon?

Yes, we are in the final stages and will be signing shortly. We will be signing and going straight to work.

Now I believe there will be a new opportunity for the funding sector in the UK to take the opportunity to invest in Africa

From an OPEC perspective, do you feel that the current oil price represents a stable market?

Being a volatile year, small incidents are impacting everything. Everyone wants to avoid a recession, and to do that, you need to invest. There will be a lot of demand. China is also opening again after COVID. At this time, we believe that it is important to monitor.

What is the feeling in the group regarding the state of the market? Is there a production target for the year in terms of Zafiro and is there a chance of getting back to the 100,000 bpd?

The sentiment is that there are two issues that we all need to monitor closely. The first is China and the conflict between Russia and Ukraine.

Regarding Zafiro, at this moment, we are reconnecting the wells that were disconnected. We are planning to resume production at the end of February. Other key things include more drilling and more work. Operators need to evaluate the plan of development. Once we have all the data, that’s when we can apply a quota.

Last year you announced the launch of the Central African Pipeline System. What is the status of this multi-faceted project and why do you feel it is so important for the continent in the current day and age? Do you foresee funding being smooth?

It is going according to the plan. 2022 was the year that we needed to inform everyone about the project, and APPO confirmed they will be working on it. We are already working on the first phase. I think the only thing the bankers and financiers are waiting for is the study. Everyone understands the project, they want to see the physical study in terms of supply, demand and where the pipeline will go. The project will be conducted in phases. In future phases, you can interconnect.

Do you have any contractors, finance or operators lined up for Fortuna?

With Fortuna, we already have the discovery and the oil. We cannot just develop one resource without having a long-term view. We have put people in place, but have decided to go back to the drawing room. We need to make sure we continue with exploration. Thereafter, we will once again revise the development. The government wants to make sure we can maximize development.

Equatorial Guinea has also taken over the Presidency of the GECF this year. What are your key objectives in this position?

Regarding the GECF agenda, the organization will play a very important role in Africa for a couple of reasons. Firstly, the President of GECF is an African country, secondly, the Secretary General is an African, thirdly, in Nigeria in November this year there will be a head of state summit of gas producing countries, and lastly, it is a resource that is much-needed across the continent. This year, what will be key is the exportation of gas from Africa such as Mozambique, Senegal and Equatorial Guinea. This is why we have encouraged the GECF team to do the same thing that was done with OPEC at African Energy Week in Cape Town last year, to give a platform to the Secretary General to drive the narrative of gas. 

Distributed by APO Group on behalf of African Energy Chamber.

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ACG CEO Paulo J. Cruz to Speak at the Angola Access & Investment Conference 2026 in Luanda on How Sport and Entertainment Districts Can Drive Inclusive Economic Growth Across Africa

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ACG

Cruz joins heads of state, ministers, ambassadors, and CEOs from over 60 international markets at one of Angola’s flagship investment conferences, connecting sport infrastructure to job creation, accessibility, and sustainable development

LUANDA, Angola, October 14, 2026/APO Group/ –African Collaborations Group (ACG) (www.ACGafrica.com), the leading strategic project origination and collaboration platform focused on the industrialisation of sport in Africa through the origination of bankable sport and entertainment district ecosystems, today announced that its CEO, Paulo J. Cruz, will speak at the Angola Access & Investment Conference 2026 (AAIC) (www.aaic.ao) in Luanda, Angola, from 14 to 17 October 2026.

 




 
 

The AAIC is organised by Expo Connect Angola in partnership with Skyliam Properties, the Cópia Group, and Angolan Business Beyond Borders, with the support of the Angola-Mozambique Chamber of Commerce and Industry (CCIAM) and the Angolan Ministry of Tourism and the Ministry of Telecommunications, Information Technologies, and Social Communication. The conference brings together heads of state, ministers, ambassadors, CEOs, investors, development banks, and business leaders from over 60 international markets.

Mr Cruz will address how ACG’s origination of integrated sport and entertainment districts contributes directly to inclusive economic growth. His intervention will focus on how sport infrastructure, when designed as a financially self-sustaining urban ecosystem, becomes a catalyst for large-scale job creation, skills development, accessible infrastructure, and long-term economic diversification.

Sport infrastructure has the power to be one of the most inclusive economic assets a country can build

The AAIC’s focus on accessibility and inclusion aligns directly with ACG’s approach to sport and entertainment district development. A Victory District™ is designed from inception to serve the widest possible community: creating permanent employment across dozens of professions, providing professional sport training facilities for young athletes, and generating economic activity that benefits surrounding neighbourhoods year-round.

“Sport infrastructure has the power to be one of the most inclusive economic assets a country can build,” said Paulo J. Cruz, CEO of ACG. “A Victory District™ does not just create stadiums. It creates thousands of permanent jobs, from hospitality to broadcast production, from sport coaching to facility management. It creates training pathways for young athletes. And it creates an urban ecosystem that generates economic activity 365 days a year. That is inclusive growth in practice, not in theory. I am honoured to share that vision at the AAIC alongside some of Africa’s most influential investors and decision-makers.”

The AAIC programme includes official MoU signing ceremonies, B2B investment rounds, VIP executive networking with senior government and business leaders across 10 dedicated Business Lounges, and the inauguration of Angola’s first assistive technology factory. The conference covers priority sectors including energy, mining, accessible tourism, agriculture, logistics, health, and infrastructure.

ACG’s Victory District™ framework is designed to originate integrated, mixed-use sport and entertainment districts that move beyond single-venue development models. Each district combines stadiums, indoor arenas, training academies, hotels, conference centres, retail, entertainment, residential, and commercial space within a single masterplanned development, financed by private and institutional capital without reliance on public subsidy.

Mr Cruz brings more than 28 years of experience across Africa, the Middle East, and Europe in originating, structuring, and delivering large-scale infrastructure, urbanisation, and real estate development initiatives. Prior to ACG, he served as Senior Vice President at DAMAC Group, the largest private real estate developer in the Middle East, and as Group CEO of LandAfrique, a pan-African development platform focused on industrial parks, infrastructure, housing, and power projects across Sub-Saharan Africa.

Distributed by APO Group on behalf of African Collaborations Group (ACG).

 

 




 

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Venezuelan Oil and Gas Opportunities Take Center Stage at African Energy Week (AEW) 2026

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Venezuela

The country is promoting new hydrocarbons contracts, upstream and refining opportunities, and technical partnerships with Africa to attract investment and strengthen local energy sector capabilities

CAPE TOWN, South Africa, October 14, 2026/APO Group/ –Venezuela is seeking to attract international investment into its oil and gas sector while building stronger energy partnerships with African countries. Revised hydrocarbon legislation offers new entry routes for private operators, while cooperation on technical training could help African markets draw on Venezuela’s industry expertise. These opportunities featured at the Venezuela Global Investment Forum during African Energy Week (AEW) 2026 in Cape Town.

 




 
 

Ricardo Gomez, Venezuela’s Vice Minister of Commercial Policy, outlined the country’s investment proposition, highlighting 303 billion barrels of proven oil reserves and 193 trillion cubic feet of natural gas.

“Venezuela combines a large hydrocarbon resource base with refining infrastructure and a market that needs reliable energy,” he said. “The opportunities extend from upstream projects to downstream and refining.”

The country’s amended Organic Hydrocarbons Law introduces new ways for international companies to enter the market. Hydrocarbon production participation contracts allow private operators to manage designated assets, oversee operations and market production under negotiated terms. Agreements can extend for 25 years, offering a longer investment horizon for field development and rehabilitation.

Restructured joint venture companies provide another route, retaining majority state ownership while allowing international partners to take on operational responsibilities through approved agreements. Direct ministerial contracts and strategic alliances offer additional opportunities in field redevelopment, oilfield services and infrastructure.

Venezuela is seeing a lot of interest as a result of aggressive fiscal and regulatory changes that are making the country more attractive

Potential investments span heavy-oil production in the Orinoco Belt, mature onshore fields, offshore gas, pipeline rehabilitation, export terminals and refinery upgrades. Venezuela’s target of signing 105 definitive oil contracts by year-end reflects its wider effort to attract operators and accelerate project development.

Scott Gilbert, CEO and Executive Director of Corcel Plc and Non-Executive Chairman of Apertura Energy, highlighted investor interest in the changing regulatory environment. “Venezuela is seeing a lot of interest as a result of aggressive fiscal and regulatory changes that are making the country more attractive,” he said.

Alongside these commercial opportunities, Venezuela is promoting its technical expertise through the Venezuelan University of Hydrocarbons (UVH). Celia Bejarano, the university’s President, explained how the institution trains engineers and geologists in geophysics, reservoir engineering, well management, natural gas and petrochemicals.

“The Venezuelan University of Hydrocarbons was created to deliver a specialized institution where the country can train its own recruits to develop its own premier resources,” Bejarano said.

Through its Africa-Venezuela Energy Partnership with the African Energy Chamber (AEC), UVH is advancing technical training, knowledge exchange and workforce development. The initiative could help African energy projects apply Venezuela’s experience in heavy-oil production and offshore engineering while strengthening local capabilities. Rene Awambeng, founder and managing partner of Premier Invest, highlighted this opportunity for African developers.

“When we are developing our assets here, we always import talent,” he said. “With the Venezuelan University of Hydrocarbons, we can actually leverage Venezuela’s immense experience to support local content development here in Africa.”

Also speaking during the discussion, NJ Ayuk, Executive Chairman of the AEC, emphasized the strategic value of closer ties between the regions. “Our energy industry has an amazing ally in Venezuela,” he said, describing the country as “open for business and ready to partner with Africa.”

Distributed by APO Group on behalf of African Energy Chamber.

 




 

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Sonangol Cites Commitment to Privatization as Company Charts Next Growth Phase

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Katambi

Katambi-2 appraisal, infill drilling and downstream construction frame the national oil company’s priorities as it marks its 50th anniversary

CAPE TOWN, South Africa, October 14, 2026/APO Group/ –Angolan National Oil Company Sonangol is advancing plans for an initial public offering (IPO) while expanding its upstream portfolio and investing in Angola’s domestic refining capacity, as the national oil company charts its next phase of growth following its 50th anniversary in 2026. Speaking at the opening ceremony of African Energy Week (AEW) 2026, Executive Board Member Osvaldo Inácio reaffirmed the company’s commitment to privatization, alongside efforts to increase production, progress new developments and translate Angola’s oil and gas resources into broader economic growth.

 




 
 

 

“We want to make sure that we do it in a way that, when you buy your shares, you are happy with the performance of those shares. We are doing the internal work required to make sure that when we get to that point, it’s a successful story,” he said.

We want to make sure that we do it in a way that, when you buy your shares, you are happy with the performance of those shares

Sonangol’s 50th anniversary comes as Angola’s NOC develops opportunities across exploration, producing assets and domestic processing. Its next investment phase requires capital and technical partners to turn appraisal results into developments while delivering refinery infrastructure and expanding the value retained from Angola’s oil and gas production.

“We are thinking about what the next 50 years will be like, focusing on producing to transform. We are not only looking at managing resources but how we translate those resources into overall development in the country,” he said.

Sonangol’s September account of its Katambi-2 work in Block 24 described a completed formation test in a non-associated gas reservoir, providing further evidence for assessment of the field’s development potential. In its producing portfolio, the company and its partners also reported approximately 100 meters of net oil pay at PAC 416 in Block 3/05, as part of a program intended to increase operated production. The results give Sonangol a technical basis for future investment, while appraisal, development design and commercial arrangements remain necessary steps.

“If you look at our portfolio, we have both operated and non-operated assets. The focus is on making sure we are doing everything we can to make sure those assets are still producing at the highest rate possible. New developments such as Block 3/05 are advancing. We are also part of Kaminho with TotalEnergies,” Inácio shared.

Downstream, Angola’s government reported in September that the Lobito refinery was approximately 26% physically complete, with around $1.6 billion invested and completion envisaged for 2029. A potential petrochemical complex was under study. Alongside Cabinda’s initial 30,000-bpd refining phase, Lobito gives Sonangol’s diversification program a concrete industrial focus, with financing, construction progress and product marketing central to the next stage.

Distributed by APO Group on behalf of African Energy Chamber.

 




 

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