Following the launch of a gas-to-industry supply project in Cameroon, Perenco is set to unlock a new wave of investment and project development
The Chamber eagerly awaits how Perenco will continue to drive progress and contribute to Africa’s energy future in the coming years
JOHANNESBURG, South Africa, August 7, 2024/APO Group/ —
Reaffirming its unwavering dedication to Africa’s energy sector, independent hydrocarbon producer Perenco recently launched its first-ever gas-to-industry supply project in Cameroon. Last July, the company put into service the Bigapa Gas Processing Center, marking an important milestone while strengthening its historic partnership with Cameroon’s National Hydrocarbons Corporation (SNH).
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The processing center is set to source gas from the Sanaga South Field and supply the Keda tile factory with between 3.5 million and 6.5 million cubic feet of natural gas per day. Key to regional industrial development in Cameroon, gas will be transported via a 6-km SNH-operated pipeline and used to power the factory’s electrical generators and kilns.
As the voice of the African energy sector, the African Energy Chamber (AEC) commends this milestone achieved by Perenco, which represents a strategic growth opportunity for Cameroon and the wider West African region. Boasting a wealth of experience in oil and gas exploration, production, operation and management, Perenco continues to foster technological advancement in the markets in which it operates and pave the way for a brighter future for all Africans.
Perenco’s milestone in launching its first gas-to-industry project in Cameroon builds upon a successful track record of project delivery in the country, in collaboration with SNH. Last June, the company acquired a 9.9% stake in floating LNG player Golar LNG, with which Perenco and SNH serve as a partner in the Cameroon FLNG Terminal. The project is served by Golar LNG’s Hilli Episeyo FLNG vessel, which offloaded its 100th cargo of LNG last October.
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In March 2024, Perenco initiated a five-well drilling program at the Kita Eden field, located in the northern part of the Rio del Rey Basin offshore Cameroon. The company is using its newly developed water barge designed for shallow waters and the LUG drilling platform provided by marine services firm Dixstone to explore the basin. The project – which falls under a 20-year license agreement signed in 2023 by Perenco, the Cameroonian government and international exploration company Addax Petroleum – highlights Perenco’s long-term commitment and ability to unlock stranded reserves in mature assets.
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Perenco also recently closed a deal with oil and gas supermajor Eni in the Republic of Congo. Closed in March 2024, the $300-million deal was first announced in June 2023 and involves the purchase by Perenco of some of the supermajor’s upstream assets in the country. Falling in line with Perenco’s strategy to expand operations in Africa, the deal serves to support the Republic of Congo and Europe’s broader energy security and energy transition targets.
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Through its operations in Cameroon and the Republic of Congo – as well as activities in the Democratic Republic of the Congo, Chad, Gabon and Tunisia – Perenco represents a key player in the continent’s upstream industry. Demonstrating its technical acumen across diverse energy landscapes, Perenco spud an appraisal well last February near the Hylia South West discovery offshore Gabon, targeting the Ntchengue Ocean reservoir and lower Madiela carbonate reservoir. The appraisal is designed to further inform Perenco’s understanding of the reservoirs and narrow their estimate of oil resources in place, which are presently estimated at 20-100 million barrels.
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Perenco also announced a final investment decision in February 2023 for the construction of a 700,000-ton-per-year LNG production facility at the Cap Lopez terminal in Gabon. Representing an investment of over $1 billion, the unit will take up to three years to complete and is expected to make Gabon self-sufficient in butane production and an exporter of LNG, with first production targeted for 2026.
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“From its groundbreaking gas-to-industry project in Cameroon to substantial investments across the continent’s mature oil and gas markets, Perenco’s recent achievements underscore a remarkable commitment to Africa’s energy sector. The company’s innovative approach and strategic investments set a high standard for sustainable growth and industrial development. The Chamber eagerly awaits how Perenco will continue to drive progress and contribute to Africa’s energy future in the coming years,” stated NJ Ayuk, Executive Chairman of the AEC.
Distributed by APO Group on behalf of African Energy Chamber.
At AEW 2026, industry representatives from Africa and the Caribbean say joint ventures, enforceable local-content rules and regional financing are needed to turn petroleum resources into domestic industrial growth
CAPE TOWN, South Africa, October 17, 2026/APO Group/ –African and Caribbean energy leaders called for stronger cross-border investment, technology transfer and enforceable local-content requirements to ensure emerging oil and gas producers capture more value from their resources during the session South-South Energy Partnership: Advancing Africa’s Oil and Gas Future in 2026 at African Energy Week (AEW) 2026 in Cape Town.
Ndapwilapo Selma Shimutwikeni, CEO, RichAfrica Consultancy, said partnerships could accelerate skills development.
“From a business perspective, we need to build partnerships that encourage joint ventures between experienced countries and emerging countries like Namibia,” she said. “We need to look beyond just oil production and actually look at the entire value chain.”
Building on Shimutwikeni’s remarks, Gilbert Yevi, Lead Consultant, Grenada Hydrocarbon Technical Working Group, called for partnerships that share risks and benefits rather than simply replace one source of financing with another.
We want cooperation and a collaboration in risk sharing, skill sharing, and sharing in the benefits
“We want cooperation and a collaboration in risk sharing, skill sharing, and sharing in the benefits,” he said.
Yevi also advocated regional training centers to pool expertise and help emerging producers access established industry capabilities.
Expanding on the topic of local content, Eric Williams, Principal Consultant and President, Royal Triangle Energy Solutions, said policies must be linked to a broader national development strategy, using petroleum resources to build domestic industries rather than focusing solely on exports.
“The Trinidad model is about using the molecules to develop the country,” he said, arguing that this vision should shape negotiations with upstream investors and the terms of petroleum contracts.
Omar Farouk Ibrahim, Regional Chair for Africa, World Energy Council, said national sovereignty concerns continued to limit practical regional cooperation, despite public commitments to collaboration.
“The first question they ask is: ‘Will the industry be in my territory?’ If it’s not, why should I? And for as long as we have this mentality, believe me, this cooperation and collaboration we’re talking about will just be theory,” he said.
Across the discussion, speakers emphasized that cooperation must translate into financing, enforceable commitments and local capabilities that endure beyond individual projects.
Distributed by APO Group on behalf of African Energy Chamber.
With Nigeria’s annual mining revenue up more than tenfold to above N70bn, Nigeria NOW! brings global investors to Abuja on 19 and 20 November, where the Minister of Solid Minerals Development is Chief Host
First and foremost all international investors coming to Abuja should understand that Nigeria is ready and open for business
LONDON, United Kingdom, October 21, 2026/APO Group/ –Platinum group metals, gold, nickel, copper, lithium and rare earth elements lie together in one mineral province in Kaduna State, which the Minister of Solid Minerals Development announced in June as world-class and the Nigerian Geological Survey Agency has verified. The Ministry opens its doors to global investors at Nigeria NOW!, held at the Bola Ahmed Tinubu International Conference Centre in Abuja on 19 and 20 November.
Processing is following the discoveries, as lithium facilities of $600m in Nasarawa State and $200m near Abuja sit alongside a $400m rare earth processing project in Nasarawa, and mining lease applicants must now submit value-addition plans. Annual mining revenue has risen from about N6bn before the current administration to more than N70bn by the end of 2025.
The routes to export markets are moving too, as the Federal Executive Council has approved deep seaports at Bakassi and Ondo as public-private partnerships, with the Bakassi port alone valued at $2.27bn.
With a month to go, investors and developers travelling to Abuja will meet these projects at close quarters. In investor boardrooms, the Government of Nigeria will review specific projects in depth, from large-scale infrastructure to multilateral programmes such as Mission 300.
Speaking to Energy News Network in September, Tunde Arisekola, Senior Advisor, Geological and Minerals Information at the African Minerals Development Centre, who joins the minerals session on the first day, said that “first and foremost all international investors coming to Abuja should understand that Nigeria is ready and open for business”. In the same interview he described Nigeria’s economy as “stable, safe, peaceful and welcoming to all international investors”.
The programme opens with a welcome from the Chief Host, H.E. Dr Oladele Henry Alake, Minister of Solid Minerals Development, followed by sessions on how the Ministry of Power will drive capacity into Nigeria’s industrial hubs and on the policies opening the minerals sector to foreign investment, including domestic processing and value addition. The second day turns to the pipeline of transport and port infrastructure and the $1bn Domestic Green Bond, and closes with an investors’ clinic on the 2025 Tax Act.
Lagos State Government, a Nigeria NOW! partner, now regulates its own electricity market after NERC transferred oversight to the Lagos State Electricity Regulatory Commission. Hon. Biodun Ogunleye, Lagos State Commissioner for Energy and Mineral Resources, told Energy News Network that “capital follows bankable cashflows”. The state’s job, he said, is “to create both the infrastructure plan and the commercial architecture that makes that plan financeable”.
On Friday 20 November, YES! Nigeria runs alongside the main programme under the theme “Empowering Today’s Entrepreneurs, Building Tomorrow’s Industrialists”. Abuja University and Philomath University are partners, and the Youth Sustainable Development Network is Community Partner. Its opening session hands the stage to young Nigerians already at work in the sector, among them Damilola Hamid Balogun of YSDN and Emmanuel Terwase of Boost Power.
Nigeria NOW! is held under the patronage of the Minister of Solid Minerals Development, with the Lagos State Government, the Nigerian Indigenous Women in Mining & Natural Resources Organisation, Women in Mining, Nextier and The Electricity Hub as partners.
Distributed by APO Group on behalf of EnergyNet Ltd..
The report draws on the Islamic Finance Development Indicator (IFDI), a global benchmark that assesses the development of the Islamic finance industry across 140 countries through five key areas, Financial Performance, Governance, Sustainability, Awareness, and Knowledge
For ICD, these developments reinforce the importance of ensuring that Islamic finance serves as a practical instrument for inclusive and sustainable economic transformation
KUALA LUMPUR, Malaysia, October 21, 2026/APO Group/ –LSEG, in collaboration with the Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org), the private sector arm of the Islamic Development Bank (IsDB) Group, today announced the results of the 2026 edition of the Islamic Finance Development Report at the Kuala Lumpur Islamic Finance Forum (KLIFF) in Malaysia.
Key findings of the report include:
The global Islamic finance industry maintained a strong growth trajectory in 2025, with total assets reaching US$6.5 trillion, up 9% year-on-year. Growth was supported by the continued expansion in Islamic banking, record sukuk issuance, strong Islamic fund performance, and new regulatory frameworks.
Malaysia, Saudi Arabia, the United Arab Emirates, Indonesia, and Pakistan retained their positions as the world’s most developed Islamic finance markets. These countries continued to benefit from comprehensive regulation, strong institutional development, active financial markets, and well-established knowledge ecosystems.
Several markets recorded notable gains in performance, including Türkiye, Tanzania, Kenya, Benin, Azerbaijan, and Uzbekistan, highlighting the growing momentum across both established and emerging Islamic finance markets.
The report also identified several structural trends that are shaping the industry’s development. Regulatory reforms and stronger market infrastructure are supporting growth beyond core markets, particularly across Africa and Central Asia. Sustainability guidelines are increasingly prioritised, although activity remains concentrated in developed markets. Digitalisation is also advancing, with FinTech, open banking, and tokenised sukuk influencing financing, issuance, and settlement while widening access to financial products. However, talent development is lagging industry expansion, emphasising the need for stronger specialist education.
Khalid Khalafalla, Acting Chief Executive Officer of ICD, said: “For ICD, these developments reinforce the importance of ensuring that Islamic finance serves as a practical instrument for inclusive and sustainable economic transformation. ICD remains committed to advancing private-sector development across its member countries through targeted financing and the promotion of Islamic financial solutions.”
Mustafa Adil, Head of Islamic Finance, LSEG, added: “Looking ahead, global Islamic finance assets are projected to exceed US$10.5 trillion by 2030, supported by continued Islamic banking expansion, growing sukuk issuance momentum, emerging-market adoption and demand for sustainable and digital financial solutions.”
The report draws on the Islamic Finance Development Indicator (IFDI), a global benchmark that assesses the development of the Islamic finance industry across 140 countries through five key areas, Financial Performance, Governance, Sustainability, Awareness, and Knowledge. It provides a holistic view of the global Islamic finance landscape, measuring progress in alignment with Islamic principles and supporting stakeholders in identifying opportunities for growth and reform.
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