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PETROCI Chief Executive Officer (CEO) Joins African Energy Week (AEW) 2024 as Focus Shifts to Accelerated Offshore Exploration

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Fatoumata Sanogo, Petroci’s CEO, will speak at African Energy Week: Invest in African Energy in November, aiming to attract investments into Ivory Coast’s oil and gas sector

CAPE TOWN, South Africa, July 30, 2024/APO Group/ — 

Ivory Coast’s national oil company PETROCI and Guinea-Conakry’s national oil company SONAP signed a Memorandum of Understanding (MoU) in June for a collaborative effort to enhance oil exploration and production in Guinea, leveraging PETROCI’s extensive expertise and resources. The MoU includes support and technical assistance, knowledge exchange, training, and logistical support, underscoring the shared commitment to advancing the socio-economic development of Africa.

As PETROCI continues to expand its presence across the region, the company’s CEO Fatoumata Sanogo, along with a delegation, will participate in the African Energy Week (AEW): Invest in African Energy 2024 conference – scheduled for November 4-8 in Cape Town. Sanogo is set to discuss upcoming investment opportunities in Ivory Coast’s oil and gas sector as well as project updates and latest developments.

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.

Its collaboration with SONAP and ongoing projects like the Baleine field development demonstrate a commitment to leveraging expertise and enhancing regional partnerships

PETROCI is focused on establishing Ivory Coast as a central hub for petroleum products and is currently optimizing hydrocarbon resource development. The company has embarked on several noteworthy projects – including the Baleine oil field development – and partnerships with major players like Eni and TotalEnergies. The national oil company was also recently awarded Production Sharing Contracts (PSC) by the Ivorian government for Blocks CI-523 and CI-525 which contain the Ibex, Gnou, Kudu and Eland gas fields.

The acquisition comes amid increased interest in exploration following Eni and PETROCI’s discovery at the Baleine-1X well in 2021. This discovery, appraised by the Baleine East-1X well in 2022, confirmed around 2.5 billion barrels of oil and 3.3 trillion cubic feet of gas across blocks CI-101 and CI-802. By 2023, the FPSO Firenze set sail from Dubai and enabled the commencement of oil and gas production offshore Ivory Coast. The project is being developed in three phases, the first of which comprises production through the Belaine FPSO, which has a capacity of 15,000 barrels per day (bpd) and 25 million cubic feet per day (mscf/d) of gas. Production started in 2023. The second phase – expected to commence by the end of 2024 – will increase production to 50,000 bpd and 70 mscf/d while the third – slated for 2025 – will further boost output to 150,000 bpd and 200 mscf/d.

Baleine is also set to be Africa’s first net-zero upstream oil development regarding Scope 1 and 2 emissions. Utilizing innovative technology, the project minimizing environmental footprint, with residual emissions offset through various in-country initiatives. Specifically, in partnership with the Ivorian government and humanitarian organization AVSI, PETROCI is implementing a stove distribution program which eliminates the need for wood-fired cooking solutions. The program aims to reach up to one million people over the next decade, setting a standard for clean cooking solutions in Africa.

Beyond Baleine, PETROCI is collaborating with various IOCs and independent E&P firms to accelerate exploration in Ivory Coast. In March 2024, PETROCI along with its partner Eni made a discovery in Block C1-205 – named Calao. The Calao discovery suggest reserves ranging from 1 to 1.5 billion barrels of oil equivalent. Additionally, the NOC signed a PCS with Ice Oil & Gas for offshore block CI-705 last November, granting Ice Oil & Gas a seven-year exploration campaign with an investment of at least $40 million in hydrocarbon exploration. Moreover, E&P company Murphy Oil signed PSCs with the NOC for five Ivory Coast blocks, including shallow and deep offshore water areas, further underscoring PETROCI’s commitment to expanding the nation’s hydrocarbon potential.

“PETROCI’s strides in advancing oil and gas exploration in Ivory Coast not only exemplify the important role of NOCs but also underscores its impact on the broader West African energy landscape. Its collaboration with SONAP and ongoing projects like the Baleine field development demonstrate a commitment to leveraging expertise and enhancing regional partnerships to drive socio-economic growth,” states NJ Ayuk Executive Chairman of the African Energy Chamber.

At AEW: Invest in African Energy 2024, the PETROCI delegation will showcase the company’s ongoing projects, including expansions in storage facilities and improvements in transportation routes for petroleum products. The event will serve as a pivotal platform for engaging with industry leaders, financiers and government officials to further its mission of strengthening Ivory Coast’s role in Africa’s energy landscape.

Distributed by APO Group on behalf of African Energy Chamber.

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

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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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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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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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