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.
The film brings a uniquely South African story to a global audience, and is set against the backdrop of Paul Simon’s 1986 album Graceland
JOHANNESBURG, South Africa, April 23, 2026/APO Group/ —
The Road Home is a story of the power of music that changed the world, bringing to life the inspiring story of the creation of the Graceland album and band
The film’s budget is roughly ZAR 300 million
Production to commence in Cape Town on June 29th, employing over 300 local film crew and up to 3,500 extras
Underscores commitments made by CANAL+ during the acquisition of MultiChoice Group
STUDIOCANAL, the in-house studio of CANAL+ (www.STUDIOCANAL.com), in partnership with Flora Films, is proud to announce the production of feature film The Road Home. The film brings a uniquely South African story to a global audience, and is set against the backdrop of Paul Simon’s 1986 album Graceland. Principal photography starts in Cape Town in June.
Following exile from his native South Africa, trumpeter Hugh Masekela (Rametsi) is pulled between two worlds when the Anti-Apartheid Movement, led by his mentor Archbishop Trevor Huddleston (Pearce), launches a boycott against Paul Simon, over his groundbreaking township music-inspired album “Graceland”, accusing Simon of violating the United Nation’s Cultural Boycott.
This film exemplifies CANAL+’s continued commitment to investing in outstanding local content and bring powerful African stories to the screen with authenticity and ambition
Splitting from his mentor, Masekela – who sees their music as a powerful weapon in the struggle – joins forces with Simon and Hugh’s lifelong collaborator, South African powerhouse vocalist Miriam ‘Mama Africa’ Makeba (Erivo), to create the Graceland band – a super group designed to bring South Africa’s voice to the world, building to a powerful, celebratory testament to resilience, and the triumph of the human spirit.
The screenplay was developed through deep research ensuring a truly authentic telling, in particular drawing on the knowledge and resources of the Hugh Masekela Heritage Foundation, enriched by contributions from acclaimed South African novelist Zakes Mda.
Alongside the invaluable insights shared with Bronner during the writing process by several Hugh Masekela Heritage Foundation members, Bronner did extensive research for the script – including in-depth interviews with Paul Simon.
The production of The Road Home will employ over 300 South African crew members, with only a small number of specialist roles filled internationally, alongside 68 local cast members, including celebrated South African actor Thabo Rametsi, an estimated 3,500 extras, and globally recognised local musicians.
CANAL+, through its film and television production and distribution arm STUDIOCANAL, is largely financing The Road Home, demonstrating its commitment to premium international storytelling in South Africa. The film will be shot on location in Cape Town further reinforcing the country’s status as a world‑class film production destination.
Anna Marsh, CEO of STUDIOCANAL and Chief Content Officer of CANAL+: “South Africa remains one of the best places in the world to produce compelling, high-quality content. I am delighted that we are able to bring a uniquely South African story to a global audience and shoot it in Cape Town with major local and international stars. The production is only possible due to the outstanding talent – both on and off the screen – which exists within South Africa’s creative ecosystem. This film exemplifies CANAL+’s continued commitment to investing in outstanding local content and bring powerful African stories to the screen with authenticity and ambition.”
Nomsa Philiso, Director, Content, General Entertainment, English and Portuguese-speaking Africa+ added: “MultiChoice Group has long had a strong and successful local content platform rooted in African storytelling. Our combination with CANAL+ builds on this foundation, strengthening our scale and reach and enabling the production of ambitious films such as The Road Home. Through STUDIOCANAL, we are further enhancing our ability to invest in premium content and take high‑quality African stories to global audiences, showcasing the best of the continent on the world stage”.
Distributed by APO Group on behalf of STUDIOCANAL (a CANAL+ Company).
New leadership at Muhatu signals a stronger push for women’s participation as Angola scales deepwater, gas and low-carbon projects
LUANDA, Angola, April 23, 2026/APO Group/ –Kátia Epalanga, Executive Administrator of Angola’s national oil company Sonangol, has been appointed President of the Muhatu Energy Angola Management Network, in a move that reinforces the organization’s role at a pivotal stage in Angola’s oil and gas expansion. She succeeds Nicola Mvuayi – Executive Administrator at the National Oil, Gas & Biofuels Agency (ANPG) – as the country advances deepwater, gas and low-carbon projects that are reshaping workforce and leadership priorities across the sector.
Epalanga brings over 23 years of experience to the role, having held various executive roles at Sonangol and Angola’s Ministry of Mineral Resources, Petroleum and Gas. As a Senior Petroleum Installations Engineer with a Master’s degree in Chemical Engineering, Epalanga has also worked with major international oil companies, including Chevron and TotalEnergies. She worked with TotalEnergies on the engineering and execution of two FPSOs for the Kaombo project – Angola’s largest oil development.
Strengthening Inclusion, Women-Led Innovation
Established in 2022, Muhatu has emerged as a critical platform for advancing the participation of women across Angola’s oil and gas sector. The organization operates at the intersection of professional development, advocacy and industry alignment, working closely with operators, regulators and service companies to improve access, representation and leadership pathways for women.
Under its previous leadership, Muhatu focused on building institutional credibility and expanding its engagement with industry stakeholders. This included strengthening partnerships with national entities such as Sonangol and the ANPG, while promoting mentorship and skills development initiatives. The organization also played a role in aligning gender inclusion with broader local content policies, ensuring that workforce development strategies reflected Angola’s long-term industrial objectives.
Epalanga’s appointment signals a continuation – and likely an acceleration – of this agenda. Her leadership comes with expectations of deeper industry integration, particularly as projects become more technically complex and capital intensive. The next phase for Muhatu will require moving beyond advocacy into measurable outcomes: increased female representation in technical roles, stronger participation in project execution and greater visibility in leadership positions.
A Critical Time for the Market
Epalanga’s appointment comes at a critical time for Angola, as the country looks towards sustaining production above one million barrels per day through accelerated exploration and brownfield developments. The country is actively repositioning its oil and gas sector through a combination of regulatory reform, aggressive licensing rounds and targeted investments in both oil and gas infrastructure. At the same time, projects are becoming more diversified – spanning ultra-deepwater developments, gas monetization and emerging low-carbon technologies such as carbon capture integration.
Within this evolving landscape, the demand for a skilled, adaptable and inclusive workforce is rising. Muhatu is positioned to address this shift by expanding the talent pool and ensuring broader participation by women across the oil and gas industry. This alignment will be visible at the upcoming Angola Oil & Gas (AOG) Conference and Exhibition – taking place September 9-10 with a pre-conference day on September 8. As the premier platform for the oil and gas sector, the event positions local content and inclusion at the forefront of discussions on Angola’s oil and gas future.
As a long-term participant at the event, Muhatu plays a central role in reinforcing the role of women in the sector. Epalanga’s appointment gives Muhatu a stronger mandate heading into the event, elevating its role from participant to strategic voice in discussions around talent, inclusion and execution capacity. In this context, the leadership change is not peripheral – it aligns directly with the industry’s immediate priorities and the outcomes AOG is designed to drive.
Distributed by APO Group on behalf of Energy Capital & Power.
S&P Global Affirms Islamic Corporation for the Insurance of Investment and Export Credit’s (ICIEC) AA- Financial Strength and Issuer Credit Rating with Stable Outlook
The reaffirmation reflects ICIEC’s strong credit fundamentals, underpinned by solid financial strength, a low-risk profile, and S&P’s confidence in its robust capital adequacy, sound risk management framework, exceptional liquidity, and sustained financial performance
JEDDAH, Saudi Arabia, April 23, 2026/APO Group/ –The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) (www.ICIEC.IsDB.org), a Shariah-based multilateral insurer and member of the Islamic Development Bank Group, is pleased to announce that S&P Global Ratings has affirmed its long-term issuer credit and financial strength ratings at ‘AA-’ with a Stable Outlook for the third consecutive year, maintaining ICIEC’s position among the highest-rated peer institutions globally.
The reaffirmation reflects ICIEC’s strong credit fundamentals, underpinned by solid financial strength, a low-risk profile, and S&P’s confidence in its robust capital adequacy, sound risk management framework, exceptional liquidity, and sustained financial performance. S&P has maintained ICIEC’s Enterprise Risk Profile at strong (A+) and Financial Risk Profile at very strong (up to AA+), supported by capital adequacy at the 99.99% confidence level, prudent governance, strong shareholder support, and Preferred Creditor Treatment (PCT). The overall rating of ‘AA-’ is based on the combined strength of these profiles. Stable Outlook reflects expectations of continued mandate-driven growth while maintaining strong capital and liquidity positions.
S&P further noted that ICIEC’s exposure to ongoing Middle East geopolitical developments remains limited and well-diversified, with strong capital buffers and reinsurance support sufficient to absorb potential volatility and claims. The Corporation’s business prospects remain resilient, supported by core markets across Africa, Asia, and Central Asia, particularly within the PCT-backed investment guarantee segment.
ICIEC extends its sincere appreciation to its Member Countries, the Chairman and members of the Board of Directors, and all stakeholders for their continued support, as well as to its dedicated staff members.
This reaffirmation underscores ICIEC’s financial strength, robust risk management, and institutional resilience, reinforcing its commitment to supporting sustainable economic development across its Member States while further strengthening its global standing. It also reinforces continued confidence among global partners, including policyholders, financial institutions, export credit agencies, and particularly reinsurance partners, in ICIEC as a reliable and trusted low-risk multilateral counterparty.
Distributed by APO Group on behalf of Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).
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