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Interview: Invictus Energy Managing Director (MD) discusses Success and Capital Raising in African Exploration

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Invictus Energy

In an exclusive interview with the African Energy Chamber, Invictus Energy Managing Director Scott Macmillan showcased how the company has managed to achieve success in the southern African market

CAPE TOWN, South Africa, March 15, 2024/APO Group/ — 

Across Africa’s proven and promising hydrocarbon basins, independent oil and gas companies are playing a central role in driving exploration and resource monetization while getting large-scale projects off the ground. These companies have been at the forefront of notable developments throughout the continent, with Australia’s Invictus Energy actively exploring the Muzarabani and Cabora Bassa basins in Zimbabwe.

Ahead of this year’s African Energy Week (AEW) (https://AECWeek.com) conference and exhibition – taking place in Cape Town on November 4-8 – an interview with Invictus Energy Managing Director Scott Macmillan showcased how the company has managed to achieve success in the southern African market.

Raising Capital for oil and gas projects in the energy transition era requires innovative financing mechanisms. What strategies is Invictus Energy implementing to raise capital?

Raising capital for oil and gas projects has been challenging, particularly in the exploration space, which comes with high risk and no guarantee of achieving success and making a discovery. We have been very fortunate to have had excellent support from our shareholders who have funded our exploration activity to date. Post the gas-condensate discovery at Mukuyu-2 we have now de-risked the asset and – with a tangible resource base – it opens additional options for the company to fund the future work program. We have a high amount of equity in our licence (80%), and it provides us with flexibility on a number of fronts. These options include farming out an interest to other E&P companies, financing from regional development banks, strategic local investors that are positioning to become a part of a new industry in Zimbabwe and pre-payment for future offtake.

Invictus Energy announced a gas discovery at the Mukuyu-2 well in Zimbabwe last December. What is the status of the drilling campaign? Is a development plan in place?

The Mukuyu-2 well has been safely suspended along with the Rig 202 stacked at the wellsite in preparation for a future flow test. The flow test design work is being undertaken to determine the long leads and mobilisation plan for the test given the relatively remote location. We are also planning a 3D seismic survey over the Mukuyu field, which will assist in determining future appraisal and development well locations for an early phase development.

With regards to a development plan, we envisage Mukuyu to be a phased development consisting of an initial pilot project to provide early revenue and demonstrate proof of concept. That will be followed by a more traditional full field development plan to commercialise a large volume of gas through gas-to-power, gas to fertiliser and feedstock for industrial customers as well as small scale LNG and compressed natural gas for end users that are not proximal to the pipeline network.

Invictus Energy signed a gas supply MoU with Mbuyu Energy in December 2023 for feedstock related to a 500 MW gas-to-power project. How does the project align with Invictus Energy’s strategic plans in Zimbabwe?

We see gas playing a critical role in the industrialisation of the country and gas-to-power is probably the biggest opportunity in Zimbabwe for us to monetise large volumes of gas given the energy deficit in the country. This energy deficit is going to be exacerbated in future due to increasing energy demand from some of the intensive energy users such as the mining houses and large industrial consumers and their need for reliable and affordable power is greater than ever and crucial for their businesses. 500MW is just the start and it is estimated that an additional 2,500MW of new power generation is required to meet demand in the next few years.

Due to our proximity to the electricity network, through a gas-to-power development we can utilise the grid as a virtual pipeline to deliver electrons to end users which significantly reduces development cost and timeline of the initial phases of full field development.

Does Invictus Energy have plans to expand regionally, given the untapped potential in neighboring countries?

We do have ambitions to expand regionally dependent upon the ultimate reserves from our licence area as there is a significant power and gas shortfall in South Africa and untapped potential in countries such as Zambia. We can export electricity through the Southern Africa Power Pool (SAPP) and with our project located within 100km of 3 major SAPP interconnectors it provides us with the ability to export across the region using the existing infrastructure.

There is also an opportunity to export gas to South Africa by joining into the ROMPCO pipeline from Mozambique which has a captive market in South Africa and fetches premium pricing. South Africa is facing a 1 billion cubic foot per day shortfall in gas supply by 2030 which is obviously a huge opportunity for a resource like ours that is strategically placed to fill the void.

Invictus Energy participated in the African Energy Week: Invest in African Energy conference in 2023. What are you looking forward to most regarding this year’s conference and can we expect any deals or announcements to be made by Invictus?

AEW is a fantastic event that is growing and getting better every year and we are looking forward to building on the relationships that we have established in previous years as well and the new ones that will undoubtedly be formed. There are always new ideas sparked by panels and presentations and new business opportunities generated from conversations.

Whilst we can’t reveal any deals or announcements as of yet, given our activity and ambition to drive our project ahead there will definitely be some news for us to deliver at the conference.

Distributed by APO Group on behalf of African Energy Chamber.

Energy

Venezuela Energy Week Confirms 19 August Date for Houston Industry Showcase

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Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the Houston Industry Showcase will take place on 19 August, convening U.S. energy leaders ahead of Venezuela Energy Week 2027 in Caracas

HOUSTON, United States of America, August 10, 2026/APO Group/ –The organizers of Venezuela Energy Week (VEW) have confirmed that the Houston Industry Showcase will take place on 19 August 2026 at The Post Oak Hotel. Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the event will bring together U.S. energy companies, investors and policymakers to explore commercial opportunities ahead of Venezuela Energy Week 2027 in Caracas in February.

The showcase will feature Minister of Hydrocarbons Paula Henao as a keynote speaker, providing an update on Venezuela’s energy priorities, investment agenda and opportunities for international partnership. Her participation underscores the country’s commitment to strengthening engagement with global industry as it seeks to expand production and unlock new upstream investment.

Bringing together exploration and production companies, independent operators, oilfield service providers, engineering firms, technology companies and financial institutions, the Houston Industry Showcase will examine opportunities across exploration, production optimization, infrastructure rehabilitation and field development.

As Venezuela works to increase oil and gas production, demand is expected to grow for the technical expertise of U.S. service providers in drilling, well intervention, completion services, production optimization, artificial lift, digital oilfield technologies and infrastructure rehabilitation. Houston-based industry leaders – including SLB, Halliburton, Baker Hughes, Weatherford and a broad network of EPC contractors, equipment manufacturers and specialized service companies – are well positioned to support the modernization of mature fields, improve operational efficiency and deliver the technologies and services needed for future upstream projects.

The Houston event follows a successful Industry Showcase in London, which brought together international investors, operators and energy service companies to explore Venezuela’s evolving investment landscape. Building on that momentum, the Houston edition will deepen engagement with the U.S. energy industry and strengthen commercial dialogue ahead of Venezuela Energy Week 2027.

Venezuela Energy Week – the country’s largest energy investment platform to date – has been confirmed for 22–25 February 2027 in Caracas. Organized by Energy Capital & Power, the event will bring together government leaders, investors and industry stakeholders from across the global energy value chain.

To register for the Houston Industry Showcase on August 19, visit https://apo-opa.co/4g0TncR. To learn more about delegate, sponsorship and partnership opportunities for the showcase or to secure your place at Venezuela Energy Week 2027 in Caracas, contact info@venezuelaenergyweek.com.

Supporting Venezuela’s Earthquake Recovery
Our thoughts are with the people and communities affected by the recent earthquakes in Venezuela. As the country begins the long process of recovery, we encourage members of the global energy community to support relief and reconstruction efforts through the CAF Recovery and Reconstruction Fund for Venezuela, which channels contributions from individuals, companies and organizations to emergency assistance, essential services and long-term rebuilding efforts.

To learn more or make a contribution, please visit the CAF Recovery and Reconstruction Fund for Venezuela (https://apo-opa.co/4hkvteE).

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

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Islamic Development Bank Institute (IsDBI) Secures New Patent for Smart Stabilization System from Intellectual Property Office of Singapore

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IsDBI

The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility

JEDDAH, Saudi Arabia, August 10, 2026/APO Group/ –The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) is pleased to announce that the Intellectual Property Office of Singapore (IPOS) has granted a new patent for its innovative Smart Stabilization System.

 

The patent was granted on 10 July 2026 under Singapore Patent No. 10202250873B for the invention titled “A Computer Network Stabilization System and Method.” The patent application was filed on 1 September 2022 and was formally granted following a comprehensive review process.

This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development

The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility. Leveraging sophisticated algorithms and advanced simulation models, the system is designed to anticipate supply and demand imbalances and implement programmable stabilization measures before they escalate into market disruptions.

Unlike traditional stabilization mechanisms that rely on capital reserves, buffer funds, or external interventions, the Smart Stabilization System introduces a next-generation framework for achieving autonomous market stabilization through proactive and programmed stabilization mechanisms. By incorporating distributed ledger technology and cryptographic trust mechanisms, the platform enhances transparency, trust, and operational resilience for digital asset and commodity markets.

The successful patent grant reflects IsDBI’s growing contribution to technological innovation and its commitment to developing knowledge-based solutions that address contemporary economic and development challenges.

Since filing the patent application back in 2022, the Institute has continued to advance the Smart Stabilization System through ongoing development and testing, aimed to expand its practical applications and support future capitalization opportunities. These advancements have positioned the system as a potentially transformative solution for enhancing stability and resilience in increasingly digital and interconnected economies.

Commenting on this occasion, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, said, “The grant of this patent by the Intellectual Property Office of Singapore further strengthens the Institute’s position as a leader in developing innovative knowledge-based solutions that leverage modern technologies to address complex development challenges. This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development.”

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

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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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