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Republic of Congo Lighting the Way for African Oil and Gas (By NJ Ayuk)

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2 years ago

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Congo

The Republic of Congo’s (ROC’s) burgeoning oil and gas success story stems from a recognition of and a willingness to act on multi-faceted opportunities

JOHANNESBURG, South Africa, August 14, 2024/APO Group/ — 

By NJ Ayuk, Executive Chairman, African Energy Chamber (www.EnergyChamber.org).

French oil and gas supermajor TotalEnergies announced in May that the company intends to invest $600 million in the Republic of Congo (ROC) before 2024 is out. The funding will support exploration and improve production in the deep offshore Moho Nord field, which currently produces at a rate of 140,000 barrels per day (bpd), accounting for roughly half of all Congolese oil production. With their added capital, TotalEnergies expects to increase this rate by 40,000 bpd — a welcome boost that will undoubtedly help the ROC get closer to its goal of doubling its total daily rate to 500,000 bpd.

In addition to their operations in the Moho Nord field, TotalEnergies also holds the ROC’s Marine XX permit. The site recently welcomed the arrival of two drilling rigs that TotalEnergies is confident will facilitate new discoveries, which the company also anticipates before the end of the year.

TotalEnergies, of course, has a significant presence on the continent, with a diverse portfolio built over 80 years. Still, this new commitment in Moho Nord is but one of many developments that reflect international confidence in the Congolese hydrocarbon sector and offer justification for the ROC to serve as a model for other African nations to follow.

Getting Out Ahead

The ROC’s burgeoning oil and gas success story stems from a recognition of and a willingness to act on multi-faceted opportunities.

A nation with proven reserves of 1.8 billion barrels (bbl) of oil and 284 billion cubic meters (bcm) of natural gas, the ROC has not fallen victim to the stagnation of red tape and endless deliberation that have plagued other African nations. Instead, the ROC set out to create an enabling business environment within its borders that would attract and retain foreign investment.

Helmed by Bruno Jean-Richard Itoua, the Congolese minister of hydrocarbons, the ROC’s efforts to reinvigorate its hydrocarbon sector have been open and inclusive, incorporating numerous global partnerships and multiple focal points across the industry spectrum.

During remarks at the Invest in African Energy 2024 forum in Paris, Itoua confirmed the ROC’s formation of a gas master plan and a comprehensive gas code. The government will also establish a national gas company in the third quarter of 2024. 

Itoua explained how, going forward, the ROC will steer gas, liquefied natural gas (LNG), and liquefied petroleum gas (LPG) primarily toward their local market with any excess reserved for export to the sub-region to tend to Africa’s energy needs first rather than Europe’s.

He also addressed the importance of public-private cooperation in relation to achieving his ministry’s goals of increasing production by 60% in the next two years while working toward alleviating energy poverty and funding the energy transition.

“Maybe 95% of investment in the oil sector in the Congo comes from the IOCs (international oil companies),” Itoua said. “Our responsibility [as the government] is to create the best business environment, best legal network, and best facilities to attract investors and partners interested in building solutions with us.”

Itoua’s outlook, which reflects his government’s approach to revitalizing the ROC’s hydrocarbon sector, is key to understanding how this small nation is writing its own very big energy success story.

During the leadup to Itoua’s announcement of a new gas master plan, thanks to the existing enabling environment in the ROC, both investor confidence and exploration and production activities were already on the rise.

Upstream and Downstream Projects

As a component of the ROC’s initiative to double its total hydrocarbon output, Pointe-Noire-based oil and gas service Trident OGX Congo commenced its seven-year project to increase production through hydraulic fracturing in the Mengo-Kundji-Bindi II oil fields. With $300 million in financing from the African Export-Import Bank (Afreximbank) kickstarting the program, operators expect the facility to eventually attract $1.5 billion in investments, create new jobs, provide an economic boost to the region, and increase the ROC’s total oil production level by 30%.

Our responsibility [as the government] is to create the best business environment, best legal network, and best facilities to attract investors and partners

Anglo-French oil and gas company Perenco has been active offshore, acquiring 3D seismic data ahead of its exploration schedule planned for the Tchibouela II, Tchendo II, Marine XXVIII, and Emeraude permits the company holds.

Also a testament to the ease of doing business under current ROC leadership, Trident Energy — the London-based international oil and gas company committed to redeveloping mid-life assets — announced in April of this year that it had inked deals with both Chevron and TotalEnergies to acquire interest in ROC fields. Upon final approval, which is expected before the close of Q4 2024, the arrangements will see Trident Energy with an 85% working interest in the Nkossa and Nsoko II fields, a 15.75% working interest in the Lianzi field, and operational control of all three. Trident Energy will also have a 21.5% working interest in the ultra-deepwater Moho–Bilondo field which TotalEnergies will continue to operate.

Commenting on the agreement, Trident Energy Chief Executive Officer Jean-Michel Jacoulot said, “The transaction aligns with our strategy to acquire and operate high quality assets in a safe, efficient and responsible manner.

“Building on our continued successes in Equatorial Guinea and Brazil, we are excited to unlock further value and create opportunities for our partners in the Republic of Congo, host communities and all our stakeholders.”

The ROC also has sought to enhance its refining capabilities, offering potential investors the opportunity to support upgrades to its Congolaise de Raffinage refinery, which currently operates at a rate of 600,000 tons per year.

Construction of an additional refinery, the Atlantique Pétrochimie in Fouta just south of Pointe-Noire, is expected to begin in 2024. With financial backing from the Chinese company Beijing Fortune Dingheng Investment, the refinery will process 2.5 million tons of hydrocarbon products per year, including gasoline and diesel, as well as LPG, kerosene and fuel oil, and raw materials like propylene, propane, hydrogen naphtha, and sulfuric acid.

Turning Up the Gas

With existing natural gas production either stable or in decline over the past decade, another primary drive for the ROC in 2024 is to expand and monetize production with sights on becoming a global LNG exporter in short order.

The ROC sent its first export of LNG to Italy in February 2024 from the first of the two Tango floating liquefied natural gas (FLNG) facilities located 3 kilometers offshore at the Marine XII concession. The Tango FLNG operation is a partnership with Italian multinational energy company Eni with an expected capacity of 4.5 bcm per year once construction of the second FLNG facility wraps up in 2025.

On May 21, 2024, in Brazzaville, Itoua and Algerian Minister of Energy and Mines Mohamed Arkab signed a memorandum of understanding between the two countries covering future cooperation between Algeria’s state-owned oil company, Sonatrach, and Congolese national oil company Société Nationale des Pétroles du Congo (SNPC). Though the memorandum concerns the ROC’s entire hydrocarbon sector, it highlights knowledge-sharing for industry development in LNG, LPG, and petrochemicals as well as carbon footprint reduction.

An associated gas production project at the onshore Banga Kayo block seeks to harness previously flared gas resources for LNG, butane, and propane production for domestic use and regional export in contribution to the ROC’s gas monetization goals.

The conventional oilfield at Banga Kayo, operated by China’s Wing Wah Oil Company, consists of approximately 250 wells currently producing 45,000 bpd with an expected peak of 80,000 bpd. The April 2024 signing of an amended production sharing contract (PSC) between Wing Wah and SNPC that will govern the project marked the start of development for its first phase which aims for a production capacity of one million cubic meters per day (mcm/d). Two subsequent phases slated for March and December of 2025 will up the site’s production to five mcm/d.

The Banga Kayo project design incorporates power generation and environmentally friendly water treatment for each unit of the facility, with provisions of excess power and clean water sources for the surrounding communities. The workforce at the site, currently over 3,000 members strong, is also majority Congolese. By promoting efficiency, scalability, reduced emissions, and local benefits, the Banga Kayo project exemplifies the best approach for maximizing production and progress in the ROC and elsewhere in Africa.

With the assurance of a concrete gas master plan and gas code nearing finalization, promising developments like these are certain to multiply and increase in frequency and substance in the days ahead.

Betting on a Winner

By seeking and securing mutually beneficial relationships with international oil companies of varying sizes, both in and out of Africa, and by working towards defined goals, the ROC will ensure that it remains engaged in sustainable development and on a path toward economic growth.

The ROC’s enabling hydrocarbon policies attract sizeable foreign investment and offer a profitable working environment for operators of any size that is free from the paralyzing delays they often encounter in other countries.

By continuing in this fashion, in the years to come, the ROC will likely enjoy economic benefits widespread throughout its population, and it will surely find itself where it wants to be — in its rightful place alongside the other major energy exporters of the future.

The process by which it got there will also likely serve as a valuable template for other nations seeking to convert their natural wealth into long-term prosperity.

Distributed by APO Group on behalf of African Energy Chamber

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Hong Kong sets out strategies to enhance the appeal and add value to the city’s tourism industry

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11 hours ago

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September 21, 2026

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Hong Kong

HONG KONG SAR – Media OutReach Newswire – 21 September 2026 – Enhancing the city’s appeal as a destination for tourism and major sports and cultural events was a strong focus of the First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (HKSAR) (2026-2030) and the 2026 Policy Address, announced by Hong Kong’s Chief Executive John Lee last week (September 16).

Mr Lee unveiled measures to support the integrated development of culture, sports and tourism which will help develop Hong Kong as an East-meets-West Centre for International Cultural Exchange. These included enriching the supply of high-quality tourism products, while bolstering infrastructure and ancillary facilities as well as deepening engagement with markets in the Chinese Mainland and around the world.

 




 
 

“Hong Kong is blessed with a unique cultural vision, shaped by both Chinese and foreign influences,” Mr Lee said. “We will continue to engage and collaborate with Mainland and overseas culture, arts and creative sectors to consolidate Hong Kong’s role as a hub for the exchange, collaboration and promotion of culture, arts and creativity. We will also host international cultural and arts exhibitions and performances to attract visitors to Hong Kong.”

 

To support Hong Kong’s film industry and promote “Film + Tourism”, the Support Unit for Non‑local Film Productions will be set up to provide one‑stop services for Mainland and overseas film crews filming in Hong Kong, attracting the production of more quality films to promote Hong Kong.

Mr Lee noted that the Kai Tak Sports Park has substantially expanded Hong Kong’s capacity to host international mega events, with more than 170 sessions of international and local sports and cultural entertainment mega events having been held there so far, attracting over 2.6 million spectators.

Meanwhile, the HKSAR Government will explore the redevelopment of Victoria Park Centre Court and other ancillary facilities into an iconic all‑weather, multi‑purpose venue for holding larger‑scale and higher‑level sports events, as well as performance activities.

Hong Kong’s Secretary for Culture, Sports and Tourism, Rosanna Law, highlighted the growing trend of multi-destination tourism. Ms Law said that Hong Kong welcomed around 36.67 million visitor arrivals in the first eight months of 2026, representing a year-on-year increase of about 11 per cent.

“The proportion of overseas visitors travelling onwards to the Chinese Mainland via Hong Kong has continued to rise, exceeding 20% in the first half of 2026,” Ms Law said.

The HKSAR Government will continue to capitalise on measures introduced by the Central Government to facilitate visits by foreign travellers to the Chinese Mainland, deepen collaboration with Mainland provinces and municipalities, and explore with the country additional immigration facilitation arrangements for international visitors. The Hong Kong Tourism Board (HKTB) will promote multi destination travel itineraries to overseas visitors, partner with airlines to roll out relevant tourism products and promotional offers, and intensify publicity overseas.

It will take forward “+ Tourism” joint initiatives, integrating various events with tourism to raise their appeal, aiming to extend visitor stays in Hong Kong and generate value‑adding momentum. Such joint initiatives would integrate tourism with mega events, ecology, heritage, finance and industrial brands.

On developing the yacht economy, Mr Lee said that a variety of new yacht berth projects are now moving ahead, including the tender for the composite development project in Aberdeen comprising a marina, recreational facilities and residential development scheduled for the first half of 2027, and the yacht bay project under the Airport City “SKYTOPIA”.

“In addition, starting from May, Hong Kong and Macao yachts may navigate in nine Guangdong-Hong Kong-Macao Greater Bay Area cities, with the requirement for guarantee exempted and under temporary ship nationality registration,” Mr Lee said. “The first northbound travel of yachts from Hong Kong set sail in June. The Marine Department will soon sign a memorandum of understanding with the Guangdong Maritime Safety Administration for the implementation of southbound travel for yachts from Guangdong, adding impetus to cross‑boundary leisure consumption.”

To further enhance the city’s appeal as a Muslim‑friendly destination, the HKTB will extend the Hong Kong Restaurants Halal Certification Funding Scheme to the end of 2027, encouraging the industry to provide more Muslim‑friendly food options.
 




 

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Former DAMAC Senior Vice President Paulo J. Cruz Appointed Founding CEO of African Collaboration Group (ACG) to Spearhead Sports and Entertainment District Development Across Africa

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12 hours ago

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September 21, 2026

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DAMAC

Paulo J. Cruz will lead the development and expansion of a pan-African platform for the origination and structuring of large-scale sports and entertainment district ecosystems

LONDON, United Kingdom, September 21, 2026/APO Group/ –African Collaborations Group (ACG) (www.ACGafrica.com), the leading strategic project origination and collaboration platform focused on the industrialisation of sport in Africa through bankable district ecosystems, today announced the appointment of Paulo J. Cruz as its Founding Chief Executive Officer.

 




  

Mr Cruz joins ACG from DAMAC Group, one of the largest privately held real estate developers in the Middle East, where he served as Senior Vice President from 2022 to 2026. In 2025, the Group reported close to USD 10 billion in property sales. His tenure at DAMAC further deepened an already distinguished career spanning infrastructure origination, urbanisation strategy, and large-scale real estate development across Africa, the Middle East, and Europe.

Over the course of his 28-year career, Mr Cruz has originated or structured projects ranging from USD 50 million to in excess of USD 5 billion, stewarding initiatives from early-stage concept through feasibility analysis, financial structuring, and investor alignment to bankable delivery stages. His professional footprint encompasses senior roles at BP, one of the world’s foremost energy companies; BlackIvy Group, a US-backed infrastructure investment platform; Movares, a leading European engineering consultancy; and Cushman & Wakefield, a globally recognised real estate advisory firm.

Prior to DAMAC, Mr Cruz served as Group Chief Executive Officer of LandAfrique, a pan-African development platform focused on industrial parks, infrastructure, housing and power projects across Sub-Saharan Africa, further solidifying his reputation as one of the continent’s most experienced development executives.

Infrastructure is the prerequisite for the industrialisation of sport in Africa

As Founding CEO of ACG, Mr Cruz will lead the development and expansion of a pan-African origination platform, working in close partnership with sovereign governments, development finance institutions (DFIs), private investors, sport and entertainment principals, and leading academic institutions to structure district-level projects that are both investable and deliverable at scale.

ACG operates as a specialised origination and collaboration platform engineered to transform concepts into credible, bankable sport and entertainment district ecosystems — architectures capable of attracting institutional capital and generating long-term, multi-dimensional economic impact at a national and continental scale.

ACG’s flagship initiative, Victory District™, provides a proprietary district development framework designed to originate integrated, mixed-use sport and entertainment destinations that transcend conventional single-venue models. The framework prioritises asset utilisation optimisation, long-term sustainability, expanded revenue diversification beyond matchday economics, structured employment and youth opportunity creation, talent development pathways, and institutional-grade operations and maintenance standards.

Mr Cruz’s appointment follows the establishment of ACG’s Advisory Board, comprising internationally recognised leaders from global sport governance, finance, infrastructure and development institutions — including Fatma Samoura, Former Secretary General of FIFA; Kenny Jean-Marie, Former Chief Member Associations Officer of FIFA; Herbert Mensah, President of Rugby Africa and Executive Board Member of World Rugby; and Jan Alessie, Co-Founder and Managing Director of the World Football Summit — as well as a Research & Impact Advisory Panel of leading scholars focused on the economics, governance and societal impact of sport. The full list of Advisory Board and Research & Impact Advisory Panel members can be consulted here:  https://apo-opa.co/4xMb5ry.

“Paulo brings an exceptional combination of origination expertise, institutional credibility, and continental experience that is virtually unparalleled in this space. His demonstrated ability to transform ambitious development concepts into financially structured, bankable projects positions him as the ideal leader to guide ACG as we build a platform capable of catalysing transformative investment and accelerating the realisation of financially sustainable sport and entertainment districts across Africa,” said Nicolas Pompigne-Mognard (www.Pompigne-Mognard.com), Founder and Executive Chairman of ACG.

A prominent thought leader and keynote speaker at leading international platforms — including the Africa Property Investment Summit (API Summit), the Africa Real Estate Conference & Expo (ARCE), the African Union for Housing Finance Annual Conference, and the West Africa Property Investment Summit — Mr Cruz was honoured as “Person of the Month” by Sustainable Investments and Alliances for Africa (SIA).

“Infrastructure is the prerequisite for the industrialisation of sport in Africa — without it, the entire value chain remains theoretical. Athletes need places to train, compete and develop. Sport governing bodies need venues that meet international standards. Broadcasters, sponsors and event organisers need facilities capable of generating commercial value. Every revenue stream in the sport economy ultimately depends on infrastructure existing and its respective operation. But how that infrastructure is originated determines whether it becomes an economic engine or a fiscal burden. Across Africa, too many sport facilities have been built in isolation — a stadium delivered for a single event, then left to deteriorate at a fraction of its capacity, draining public finances rather than generating returns. ACG exists to change that equation,” said Paulo J. Cruz, Founding Chief Executive Officer of African Collaborations Group.

Distributed by APO Group on behalf of African Collaborations Group (ACG).

 

 




 

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Africa Makes its Case for a Bigger Role on the Global Stage

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12 hours ago

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September 21, 2026

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Africa

GABI’s Unstoppable Africa 2026 brings global leaders together on Africa’s push to capture more value from its resources, accelerate investment and strengthen its influence in global trade and decision-making

NEW YORK, United States of America, September 21, 2026/APO Group/ –Africa is pushing for a bigger role in shaping the global economy, as business leaders, heads of state, investors, policymakers, and global partners converged in New York yesterday to articulate the continent’s ambition in global trade, investment, and value creation. Held alongside the 81st session of the United Nations General Assembly, Unstoppable Africa 2026 put Africa’s business agenda at the center of the global conversation.

 




  

The fifth edition of the Global Africa Business Initiative’s (GABI) flagship convening drew senior leaders from across business, government, and global institutions to the Marriott Marquis in Times Square, including UN Secretary-General H.E. António Guterres; H.E. Mahmoud Ali Youssouf, Chairperson of the African Union Commission; and Massad Boulos, Senior Advisor to the President of the United States on Arab and African Affairs.

The UN Secretary-General called for action to give Africa a greater role on the global stage, including a permanent presence on the United Nations Security Council: “Africa needs a permanent presence on the United Nations Security Council, where it can contribute to dialogue and action for the whole globe.” He stressed that Africa’s growing influence in global markets must translate into a stronger voice in international affairs. Guterres also urged reforms to better reflect the needs of developing countries, particularly in Africa, and for the continent’s natural resources, including critical minerals, to generate more local value and decent jobs rather than simply being exported.

With critical minerals, trade, energy, and investment dominating the first day, Unstoppable Africa reflected a wider shift in Africa’s economic story: from supplying the global economy to building more of the businesses, industries, and value chains that can capture the opportunity.

H.E. Mahmoud Ali Youssouf, Chairperson of the African Union Commission, said Africa’s 1.5 billion people and growing market create a significant opportunity, but the continent must accelerate the development of African value chains and remove barriers to trade to drive industrial transformation. He identified affordable energy, better infrastructure, access to finance, skills, technology, and clear standards as critical requirements for Africa to turn its market potential into faster economic growth.

Africa needs a permanent presence on the United Nations Security Council, where it can contribute to dialogue and action for the whole globe

The private sector took center stage, as African and global business leaders articulated what it will take to turn Africa’s resources, markets, and talent into productive economic capacity. The Leaders Panel brought together Samaila Zubairu, President and CEO of the Africa Finance Corporation; Aliko Dangote, Founder and Chairman of the Dangote Group; Mandy DeFilippo, CEO of Americas, Europe, Middle East and Africa at Standard Chartered; Nonkululeko Nyembezi, Chairperson of Standard Bank Group; Nolitha Fakude, Chairperson of Anglo American South Africa; and Tidjane Thiam, General Partner at Allied Critical Minerals Fund.

Leaders stressed the need to move beyond exporting raw materials, including critical minerals and crude oil, by developing local processing, manufacturing, and value chains that create jobs and retain more economic value on the continent.

One of the highlights announced yesterday was that the US$300 million Nigeria Distributed Renewable Energy (DRE) Fund has reached its first close, securing its initial capital commitments and moving into operation. Co-managed by the Nigeria Sovereign Investment Authority (NSIA) and Africa50, the fund will provide equity financing to local clean-energy developers, supporting decentralized solutions including solar mini-grids, solar home systems, commercial and industrial power solutions, and energy storage. Aligned with Mission 300, which aims to connect 300 million Africans to electricity by 2030, the fund is designed to mobilize private investment and expand reliable energy access for Nigerian homes and businesses.

Energy was another major focus. Anna Bjerde, Managing Director of Operations at the World Bank Group, and Damilola Ogunbiyi, CEO and Special Representative of the UN Secretary-General for Sustainable Energy for All, joined discussions on how innovative finance could unlock investment in Africa’s power infrastructure and accelerate access to reliable energy.

Healthcare also featured within the wider economic conversation. Roche reaffirmed its commitment to advancing breast cancer care through its Africa Breast Cancer Ambition (ABCA), which aims to help 80% of women diagnosed with breast cancer in Africa survive for at least five years by 2030.

Unstoppable Africa 2026 continues today, September 21st, with further sessions focused on digital transformation, investment, creative industries, sport, and Africa’s role in the global economy.

Everyone is invited to watch the event live on Unstoppable Africa YouTube channel at https://apo-opa.co/4xoGXlz

Distributed by APO Group on behalf of Global Africa Business Initiative.

 

 




 

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