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Namibia Unveils Offshore Drilling Plans, New Licensing Opportunities

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Wood Mackenzie

In a webinar hosted by the African Energy Chamber, Namibia’s Ministry of Mines and Energy and Wood Mackenzie on March 20, Namibia announced new offshore licensing opportunities and plans to drill seven wells in 2025

JOHANNESBURG, South Africa, March 20, 2025/APO Group/ –Namibia’s offshore oil and gas industry is set for significant growth in 2025, driven by new licensing opportunities and an uptick in drilling activities, Petroleum Commissioner Maggy Shino announced during a webinar hosted by the African Energy Chamber (https://EnergyChamber.org), Wood Mackenzie and Namibia’s Ministry of Mines and Energy. The move is set to attract fresh investment as the country cements its status as one of the world’s most promising oil frontiers.

“We are operating in an open licensing regime and will be receiving applications shortly,” Shino stated, noting that available acreage spans deepwater, ultra-deepwater and shallow-water environments.

Meanwhile, development is accelerating on two of Namibia’s most significant discoveries. TotalEnergies’ Venus project in Block 2913B remains on track for a final investment decision (FID) in 2026, with new data confirming better density and permeability compared to surrounding blocks. On Galp’s Mopane discovery, Shino revealed that 3,500Kmof high-density seismic data were collected this week to refine volume estimates and advance the project toward FID.

On Shell’s PEL 39 discovery – where the company recently wrote down $400 million – the Commissioner said Shell and its partners are analyzing data from the nine wells drilled so far to “ensure we have designed a pathway to development” and to determine the next steps.

Namibia’s offshore basin remains vastly underexplored, despite its enormous scale. “The scale is enormous – there’s 220,000 square kilometers of offshore license acreage,” said Ian Thom, Research Director for Sub-Saharan Africa Upstream at Wood Mackenzie. “With just over 20 exploration and appraisal wells drilled, this area is still hugely underexplored.”

The scale is enormous – there’s 220,000 square kilometers of offshore license acreage

“The resources are definitely there,” said Verner Ayukegba, Senior Vice President of the African Energy Chamber. “The big questions now revolve around sub-surface conditions, gas content and how best to commercialize these discoveries.”

Drilling activity in Namibia is set to ramp up in 2025, with seven wells expected this year alone. BW Energy plans to drill at the Kharas prospect within the Kudu license, while Rhino Resources awaits results from two high-impact wells in PEL 85. In South Africa’s Orange Basin, TotalEnergies is expected to drill in Block 3B/4B, and Shell may drill in an ultra-deepwater block near the maritime boundary with Namibia.

On the Kudu license, Shino stated that BW Energy has “identified new targets with upside potential – not only for gas, but also for oil within the main area,” with two wells planned by year-end.

As Namibia advances toward first oil production, the government is committed to ensuring that petroleum discoveries translate into long-term economic benefits for the nation. “We are offering a sustainable operating environment, ensuring all discoveries are in a race to first oil while making a lasting impact on the local economy,” said Shino. Namibia’s stable economy, industry alignment, respect for contract sanctity, expansive basins available for exploration and commitment to delivering sustainable energy resources position it as an attractive destination for investment.

Namibia’s exploration boom and available licensing opportunities will take center stage at African Energy Week (AEW): Invest in African Energies 2025, where government leaders, industry executives and investors will discuss the latest developments firsthand. With major discoveries advancing toward production and new blocks opening for investment, AEW offers unparalleled access to key decision-makers shaping Namibia’s energy future.

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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