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Upstream Operators to Detail Oil & Gas Project Outlook at Angola Oil & Gas 2024

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Angola

Angola Oil & Gas announces its first speaker lineup, with operators coming to Luanda to outline their investment outlook, project updates and efforts to boost production in Angola

LUANDA, Angola, July 29, 2024/APO Group/ — 

Over the next five years, up to $60 billion is expected to be invested across Angola’s oil and gas industry as international oil companies, independent E&P firms and juniors seize new opportunities in onshore, offshore and marginal fields. To support national production targets of maintaining output above one million barrels per day (bpd), Angola’s upstream operators are expanding their portfolios through block acquisition while reinvesting in producing blocks to maximize reserves.

During the Angola Oil & Gas (AOG) conference – slated for October 2-3 in Luanda – Angola’s upstream operators will provide insight into their respective investment and project outlooks in Angola. Speakers from energy majors Chevron, ExxonMobil and bp will outline large-scale ventures while E&P firms Afentra and Etu Energias will detail current and future exploration campaigns.

AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; national oil company Sonangol; the National Oil, Gas and Biofuels Agency; the African Energy Chamber; and the Petroleum Derivatives Regulatory Institute, the event is a platform to sign deals and advance Angola’s oil and gas industry. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

Chevron is focused on developing existing blocks while unlocking frontier basins in the country’s deepwaters. In June 2024, the company signed two Risk Service Contracts (RSC) for Block 49 and Block 50 – situated in the Lower Congo Basin. Chevron will conduct seismic surveys across both blocks to improve the geological understanding of the acreage. The company also has interests in offshore Blocks 0 and 14 as well as in the Angola LNG plant. Billy Lacobie, Chevron’s Managing Director: Southern Africa, will provide an update on deepwater exploration during AOG 2024 as well as the company’s low carbon strategies in Angola.

Celebrating 30 years of operations in Angola, ExxonMobil is focused on maximizing output at producing assets while advancing frontier exploration. In 2024, the company made a discovery at the Likember-01 research well in Block 15, the first of the country’s incremental production initiative. Block 15 is one of Angola’s most successful assets, producing for 20 years and featuring 18 commercial discoveries. The new find showcases further developmental potential. Beyond existing assets, ExxonMobil is seeking play-opening finds in the Namibe Basin and could inject as much as $15 billion in the area following successful drilling. The company’s South Atlantic Exploration Manager Richard Barke and Managing Director for Angola Katrina Fisher will provide insight into these initiatives during AOG 2024.

Active in Angola since the 1970s, bp has spearheaded several major project developments in Angola. In 2022, the company merged its Angolan operations with that of energy major Eni’s, creating the country’s largest independent equity producer of oil and gas, Azule Energy. In 2023, Azule Energy signed RSCs for Blocks 46, 47 and 18/15 in the Lower Congo Basin while making FID on the Agogo Integrated West Hub Development – coming online in 2026. The company is also developing the country’s first non-associated gas project – the Quiluma and Maboqueiro fields – also coming online in 2026. Gordon Birrell, EVP Production & Operations at bp, will speak on bp’s expertise in the country while identifying future investment and production initiatives.

Angola’s largest private oil producer Etu Energias plans to produce 50,000 bpd by 2025 and 100,000 bpd by 2030. The company’s projects range from upstream developments to downstream production lines and is seeking new opportunities in exploration. Etu Energias secured $60 million in 2023 as part of a $190 million debt facility to finance the acquisition of a 20% interest in deepwater Block 14 and a 10% stake in Bock 14K. The company will also begin construction at a lubricant facility in 2025. During AOG 2024, CEO Edson dos Santos will detail asset acquisition, downstream investments and future partnership prospects.

Meanwhile, Afentra is strengthening its portfolio in Angola, having recently acquired interests in offshore Blocks 3/05 and 3/05A from Azule Energy. The company is conducting light well interventions to boost production at these blocks and is also in the final stages of acquiring interests in Blocks KON 15, KON 19 and 23. In 2024, Afentra sold its first Angolan cargo for the year of 450,000 bpd. During AOG 2024, Afentra’s COO Ian Cloke will unpack acquisition targets and production expectations.

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

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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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