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Licensing Rounds Open New Block Opportunities in Africa Ahead of AEW 2024

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Block Opportunities

Several African countries are launching or concluding oil and gas licensing rounds in 2024

CAPE TOWN, South Africa, June 11, 2024/APO Group/ — 

With a strong slate of exploration and production activities and competitive licensing rounds in 2024, Africa is well-positioned to realize its potential as the global energy frontier. These bid rounds are poised to cement Africa as a global hub for hydrocarbon development.

Licensing rounds from Africa’s leading upstream players will be on display at this year’s African Energy Week (AEW): Invest in African Energy 2024 – scheduled for November 4-8 in Cape Town. Investors will be able to access exclusive information and technical presentations from the relevant petroleum ministries and regulators on both current and planned licensing rounds as the continent seeks to attract a broader range of companies to sign new contracts and drive exploratory drilling.

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 www.AECWeek.com for more information about this exciting event.

Oil and Gas Revival in North Africa

As part of the country’s plan to boost oil production to two million barrels per day within the next three to five years, Libya’s parastatal National Oil Corporation has announced plans for an oil and gas licensing round in 2024 or early 2025. The licensing round will focus on fields in the Sirte, Murzuq and Ghadames basins and presents a vital opportunity for Libya to attract new upstream investments.

Meanwhile, Algeria is expected to launch a licensing round offering between 10 and 12 onshore blocks in late 2024. The bid round forms part of the country’s strategy to maximize its gas and LNG potential. Additionally, in September 2023, the Egyptian General Petroleum Corporation and the South Valley Petroleum Holding Company launched a new licensing round aimed at boosting the country’s energy reserves and production capacity. The licensing round offers 23 on- and offshore blocks for oil and gas exploration in the Western Desert, Eastern Desert, Gulf of Suez and Red Sea.

Driving Production in Africa’s Promising Frontiers

With energy supermajors bp, TotalEnergies and Shell as well as upstream independent Kosmos Energy spearheading exploration activities in Mauritania, the country’s upcoming licensing round for 15 offshore blocks in 2024 is poised to mark a significant milestone in its energy sector. Mauritania’s coastal basin features extensive 2D and 3D seismic data coverage covering over 100,000km and 100,000km2, respectively.

Additionally, with its latest licensing round having featured 56 offshore blocks and concluding last September, another bid round is on the horizon for Sierra Leone in 2024. Despite its position as a frontier exploration market, Sierra Leone boasts a significant petroleum system that includes the Venus-B1, Mercury-1, Jupiter-1 and Savannah-1X discoveries. The country’s licensing round is supported by extensive 2D and 3D multi-client data, competitive and transparent fiscal terms and cooperation agreements in place with other African markets.

Set to spur new exploration and drilling activities in the prospective acreages of its deepwater basins, Nigeria’s Upstream Petroleum Regulatory Commission relaunched its latest licensing round during the Invest in African Energy summit in May. The round features 12 deep offshore and shallow water oil blocks and is available for bidding through January 2025.

Propelling Southern and Eastern Africa’s Energy Security

Last September, Angola’s national concessionaire the National Oil, Gas and Biofuels Agency launched a public tender for 12 onshore blocks in the Kwanza and Congo Basins. Receiving 53 bids, the tender includes four blocks in Angola’s Congo Basin and eight in the Kwanza Basin.

https://apo-opa.co/4ciSR6B

Expected for 2024 or 2025, the South African government will put up at least 10 new onshore blocks for shale gas development in the country’s Karoo region to reduce imports and alleviate an ailing energy grid. The licensing round will serve as the country’s first competitive auction for oil and gas resources. According to the state-owned Petroleum Agency of South Africa, the Karoo basin is estimated to hold up to 209 trillion cubic feet of recoverable shale gas and includes 90,000km2 of acreage previously held by Shell.

https://apo-opa.co/4cfD8F4

Tanzania has proposed auctioning up to 26 oil and gas blocks by June 2024 and will award licenses to the winners by December of the same year. The round will serve as Tanzania’s fifth bid round and is designed to revive interest in the country’s largely underdeveloped oil and gas sector. Of the 26 demarcated blocks open for bidding, 11 will be situated in the country’s offshore while 15 will be onshore. The Tanzanian government is currently in talks with a multi-client data contractor to compile extensive 2D and 3D seismic data within the basins.

https://apo-opa.co/3Vj2B9V

Meanwhile, having introduced a new Hydrocarbons Code in 2019, Gabon has emerged as a preferred destination for energy investors and majors due to investor-friendly reforms. Gabon’s heightened interest is attributable to the deregulation of its hydrocarbons sector, which is a core aim of its recently enacted reforms.

https://apo-opa.co/3VglcU9

During the AEW: Invest in African Energy conference, industry experts will unpack block opportunities across Africa’s mature and emerging oil and gas markets. Through dedicated country spotlight sessions, panel discussions and investor briefings, the event promotes deal-signing and project development.

Distributed by APO Group on behalf of African Energy Chamber.

Events

As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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Debate

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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CLG

After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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ITFC

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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