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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.

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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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Beyond Stabroek: Guyana’s Offshore Basin Attracts New Wave of Exploration Investment

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As ExxonMobil advances appraisal activity in Stabroek and new operators target frontier acreage, Guyana is attracting global capital and building a diversified offshore portfolio designed to sustain long-term growth

GEORGETOWN, Guyana, August 7, 2026/APO Group/ –Guyana’s transformation into one of the world’s fastest-growing oil producers is entering a new phase, with a growing network of IOCs expanding exploration activity across the country’s offshore basin. Beyond the landmark discoveries that first put Guyana on the global energy map, new drilling campaigns and licensing partnerships are creating a broader exploration ecosystem designed to support long-term production growth.

At the center of this momentum is ExxonMobil’s continued exploration and appraisal activity in the prolific Stabroek Block. The company has submitted a proposal for a 35-well exploration and appraisal drilling campaign, expected to run from 2028 through 2033, pending regulatory approval. The program would build on more than 30 commercial discoveries already made in the block, with drilling activity focused on evaluating new prospects and appraising existing discoveries to support future development opportunities.

Exploration activity is also extending into Guyana’s frontier acreage, with ExxonMobil advancing drilling operations at the deepwater Canje Block. The company has deployed the Noble Stena Carron drillship for exploration activity, highlighting continued industry interest in evaluating Guyana’s underexplored offshore potential beyond the established Stabroek Block.

Guyana’s strong exploration outlook comes as the country’s economy continues to benefit from rapid oil sector expansion, with hydrocarbons expected to remain a key driver of exports, government revenues and economic growth. As production scales up, attracting additional investment across exploration, services and infrastructure will be critical to supporting the next phase of development.

That momentum is being reinforced through partnerships established under Guyana’s 2023 offshore licensing round. A consortium comprising TotalEnergies, QatarEnergy and Petronas is advancing exploration activities in Block S4 under a five-year production sharing agreement signed with the government in late 2025. The award represents one of the first major outcomes of the licensing round and demonstrates continued international confidence in Guyana’s offshore resource potential.

Beyond the largest operators, a diverse group of companies is also expanding activity across Guyana’s offshore basin. Eco Atlantic is advancing exploration at the Orinduik Block; CGX Energy and Frontera Energy are progressing work in the Corentyne Block; Occidental is evaluating opportunities in the Roraima Block; while Ratio Guyana and Cataleya Energy hold interests in the Kaieteur Block. Together, these partnerships are broadening Guyana’s exploration landscape, increasing competition for acreage and creating opportunities for future discoveries.

As Guyana transitions from an emerging producer to a global energy hub, the next challenge will be converting exploration success into sustainable investment, local value creation and regional growth. These opportunities will be explored at Caribbean Energy Week 2027, held under the theme “Unlocking the Caribbean Energy Corridor: Oil, Gas, LNG & Investment for a New Global Hub.” Bringing together governments, IOCs, investors and technology providers, the event will examine how Guyana’s expanding partnerships can accelerate offshore development, strengthen regional energy cooperation and attract the capital needed to support the Caribbean’s evolving energy landscape.

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

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Energy Capital & Power Establishes London Entity, Expanding Global Platform for Energy and Mining Events

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The move strengthens ECP’s presence in the UK and Europe, and its ability to connect African and South American markets with global investors

LONDON, United Kingdom, August 6, 2026/APO Group/ –International events company Energy Capital & Power (ECP) (www.EnergyCapitalPower.com) has officially established its UK entity in London, marking a milestone in the company’s growth strategy and reinforcing its ability to deliver world-class energy and mining events and campaigns in the UK and Europe.

By establishing a presence in a key hub like London – the pre-eminent energy and mining finance center – ECP actively shapes the global energy conversation. The expansion positions ECP to better serve clients, partners and investors seeking to develop business opportunities between Africa, Europe, the Americas and energy markets worldwide.

Opening our UK company brings ECP closer to key investors in the global energy finance capital

The milestone comes as ECP strengthens its reach through a series of investment platforms that connect global capital to energy and mining projects. These include the Venezuela Energy Week London Showcase on July 30 – with over 300 delegates registered – and the annual Invest in African Energy Forum, held in Paris as the premier event connecting global investors to Africa’s energy transformation.

ECP hosts high level summits and investor conferences in leading energy and minerals producing countries in Africa and South America, including: Venezuela Energy Week; Angola Oil & Gas; MSGBC Oil, Gas & Power; African Mining Week; Libya Energy & Economic Summit; Congo Energy & Investment Forum; South Sudan Oil & Power; and Caribbean Energy Week. The company has hosted investor forums and supported licensing round roadshows in Houston, London and Paris since 2016.

“Opening our UK company brings ECP closer to key investors in the global energy finance capital,” states CEO James Chester. “Having a permanent presence in London further cements our footprint in Europe, enabling us to fulfil our mission to bring minerals and energy investment to diverse global markets.”

With teams located across Africa, Europe and the Americas, ECP has long-facilitated strategic engagement, market intelligence and industry convening, uniting investors with leading energy and mining projects.

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

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