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Sonangol Joins the African Energy Week (AEW) 2024 as Diamond Sponsor as Privatization Strengthens its Operational Capacity

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Sonangol

With the government divesting its 30% stake in the NOC, Sonangol has the chance to strengthen both its financial and operational capacity as it transforms into a competitive upstream player

CAPE TOWN, South Africa, August 23, 2024/APO Group/ — 

Angola will finalize the partial privatization of its national oil company (NOC) Sonangol by 2026 with an initial public offering (IPO) expected to draw in investors. The government is divesting a 30% stake in the NOC in line with efforts to support Sonangol’s ambition to become a competitive operator, thereby transforming its role from a functioning arm of the government into a more proactive upstream player.

As Sonangol gradually transforms into a vertically integrated oil and gas company, the company has joined Africa’s largest energy event – the African Energy Week (AEW): Invest in African Energy conference – as a diamond sponsor. This sponsorship not only reflects Sonangol’s commitment to developing the Angolan oil and gas industry even further but showcases an intention to engage with global investors and regional partners alike to usher in a new era of energy security in Africa.

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.

Sonangol recognizes the value in investing in oil and gas while accelerating the uptake of low-carbon solutions

The government is privatizing Sonangol by offering 11 of its processes to the public through public tenders, limited tenders and IPOs. The company’s privatization is part of the country’s broader Propriv initiative, which aims to drive economic reform by promoting free markets, increased competition between companies and the reduction of barriers to entry. For Sonangol, privatization is expected to affirm the company’s role as an internationally-recognized oil and gas operator by mobilizing private sector financing and enabling the company to focus on its role as an operator. In turn, this will enhance investor confidence in the market while positioning Sonangol as a catalyst for production growth in Angola.

As the NOC, Sonangol already combines its expertise with international oil companies to accelerate exploration and drive oil projects forward in Angola. In 2024, Sonangol and its project partners TotalEnergies and Petronas achieved FID for the Kaminho deepwater development in Block 20/11. Comprising the Cameia and Golfinho fields, the $6 billion development represents the first large deepwater project in the Kwanza basin and will produce 70,000 barrels per day (bpd) once operational by 2028. The company also expects the Agogo Integrated West Hub Development – situated in Block 15/06 and featuring the development of 36 new wells – to start operations by late-2025. Developed in partnership with international energy company Azule Energy, the project will utilize an FPSO with a capacity of 120,000 bpd. In Block 17, Sonangol and TotalEnergies are working towards first production at the CLOV Phase 3 project. Comprising a five-well expansion, the project aims to increase production by 30,000 bpd

In the natural gas sector, Sonangol inaugurated the Falcão Phase 2 gas project in December 2023. The project delivers gas from the Angola LNG facility to the Soyo I combined cycle power plant. With a capacity of 125 million cubic feet, the project generates power to support industry and petrochemical plants in Angola. Meanwhile, development is progressing at the Quiluma and Maboqueiro fields – Angola’s first non-associated gas project. Achieving FID in 2022, the project comprises two onshore platforms, an onshore gas processing plant and a connection to the Angola LNG facility. First gas is planned for 2026 with an expected production of 330 million cubic feet per day.

Beyond oil and gas, Sonangol is advancing low-carbon solutions in Angola. The company signed a deal with Azule Energy in 2024 to develop a biorefinery at the Luanda refining facility. The deal follows an agreement signed between the companies in 2023 for collaboration in the fields of decarbonization. Additionally, in December 2023, Sonangol and TotalEnergies inked a cooperation agreement to support the detection and reduction of methane emissions in Angola’s oil and gas industry. The agreement enables Sonangol to utilize TotalEnergies’ Airborne Ultralight Spectrometer for Environmental Applications technology.  

“Committed to steering production growth in Angola, Sonangol sets a strong example for other NOCs in Africa. The company’s transformation stands to not only strengthen Angola’s project portfolio but creates newfound opportunities for collaboration with other project developers in Africa. Sonangol recognizes the value in investing in oil and gas while accelerating the uptake of low-carbon solutions. This should be replicated in other markets across the region as countries move to make energy poverty history by 2030,” states NJ Ayuk, Executive Chairman of the African Energy Chamber.

During AEW: Invest in African Energy 2024, Sonangol will draw insight into the company’s project portfolio and how privatization has strengthened its capacity as an operator. Participating in panel discussions and engaging with regional counterparts, Sonangol’s presence at the event will serve to promote collaboration in African oil and gas. Sonangol’s CEO Sebastião Gaspar Martins is also speaking at the event this November.

Distributed by APO Group on behalf of African Energy Chamber.

Energy

Venezuela Energy Week Confirms 19 August Date for Houston Industry Showcase

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Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the Houston Industry Showcase will take place on 19 August, convening U.S. energy leaders ahead of Venezuela Energy Week 2027 in Caracas

HOUSTON, United States of America, August 10, 2026/APO Group/ –The organizers of Venezuela Energy Week (VEW) have confirmed that the Houston Industry Showcase will take place on 19 August 2026 at The Post Oak Hotel. Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the event will bring together U.S. energy companies, investors and policymakers to explore commercial opportunities ahead of Venezuela Energy Week 2027 in Caracas in February.

The showcase will feature Minister of Hydrocarbons Paula Henao as a keynote speaker, providing an update on Venezuela’s energy priorities, investment agenda and opportunities for international partnership. Her participation underscores the country’s commitment to strengthening engagement with global industry as it seeks to expand production and unlock new upstream investment.

Bringing together exploration and production companies, independent operators, oilfield service providers, engineering firms, technology companies and financial institutions, the Houston Industry Showcase will examine opportunities across exploration, production optimization, infrastructure rehabilitation and field development.

As Venezuela works to increase oil and gas production, demand is expected to grow for the technical expertise of U.S. service providers in drilling, well intervention, completion services, production optimization, artificial lift, digital oilfield technologies and infrastructure rehabilitation. Houston-based industry leaders – including SLB, Halliburton, Baker Hughes, Weatherford and a broad network of EPC contractors, equipment manufacturers and specialized service companies – are well positioned to support the modernization of mature fields, improve operational efficiency and deliver the technologies and services needed for future upstream projects.

The Houston event follows a successful Industry Showcase in London, which brought together international investors, operators and energy service companies to explore Venezuela’s evolving investment landscape. Building on that momentum, the Houston edition will deepen engagement with the U.S. energy industry and strengthen commercial dialogue ahead of Venezuela Energy Week 2027.

Venezuela Energy Week – the country’s largest energy investment platform to date – has been confirmed for 22–25 February 2027 in Caracas. Organized by Energy Capital & Power, the event will bring together government leaders, investors and industry stakeholders from across the global energy value chain.

To register for the Houston Industry Showcase on August 19, visit https://apo-opa.co/4g0TncR. To learn more about delegate, sponsorship and partnership opportunities for the showcase or to secure your place at Venezuela Energy Week 2027 in Caracas, contact info@venezuelaenergyweek.com.

Supporting Venezuela’s Earthquake Recovery
Our thoughts are with the people and communities affected by the recent earthquakes in Venezuela. As the country begins the long process of recovery, we encourage members of the global energy community to support relief and reconstruction efforts through the CAF Recovery and Reconstruction Fund for Venezuela, which channels contributions from individuals, companies and organizations to emergency assistance, essential services and long-term rebuilding efforts.

To learn more or make a contribution, please visit the CAF Recovery and Reconstruction Fund for Venezuela (https://apo-opa.co/4hkvteE).

Distributed by APO Group on behalf of Energy Capital & Power.

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Islamic Development Bank Institute (IsDBI) Secures New Patent for Smart Stabilization System from Intellectual Property Office of Singapore

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The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility

JEDDAH, Saudi Arabia, August 10, 2026/APO Group/ –The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) is pleased to announce that the Intellectual Property Office of Singapore (IPOS) has granted a new patent for its innovative Smart Stabilization System.

 

The patent was granted on 10 July 2026 under Singapore Patent No. 10202250873B for the invention titled “A Computer Network Stabilization System and Method.” The patent application was filed on 1 September 2022 and was formally granted following a comprehensive review process.

This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development

The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility. Leveraging sophisticated algorithms and advanced simulation models, the system is designed to anticipate supply and demand imbalances and implement programmable stabilization measures before they escalate into market disruptions.

Unlike traditional stabilization mechanisms that rely on capital reserves, buffer funds, or external interventions, the Smart Stabilization System introduces a next-generation framework for achieving autonomous market stabilization through proactive and programmed stabilization mechanisms. By incorporating distributed ledger technology and cryptographic trust mechanisms, the platform enhances transparency, trust, and operational resilience for digital asset and commodity markets.

The successful patent grant reflects IsDBI’s growing contribution to technological innovation and its commitment to developing knowledge-based solutions that address contemporary economic and development challenges.

Since filing the patent application back in 2022, the Institute has continued to advance the Smart Stabilization System through ongoing development and testing, aimed to expand its practical applications and support future capitalization opportunities. These advancements have positioned the system as a potentially transformative solution for enhancing stability and resilience in increasingly digital and interconnected economies.

Commenting on this occasion, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, said, “The grant of this patent by the Intellectual Property Office of Singapore further strengthens the Institute’s position as a leader in developing innovative knowledge-based solutions that leverage modern technologies to address complex development challenges. This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development.”

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

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Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

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The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

 

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