Connect with us
Anglostratits

Business

We Want to Remain Open for Investment, Says Namibia’s Petroleum Commissioner

Published

on

Petroleum

Speaking during a webinar on Guyana-Namibia upstream trends, Namibia’s Petroleum Commissioner at the Ministry of Mines and Energy Maggy Shino provided an update on the country’s exploration activities, stating that the country is open for investment as new exploration campaigns kick off

JOHANNESBURG, South Africa, June 28, 2023/APO Group/ — 

The African Energy Chamber (AEC) (www.EnergyChamber.org) partnered with global energy and commodities information provider S&P Global Commodity Insights for a webinar on June 27. Exploring the respective upstream markets of Guyana and Namibia, the webinar – moderated by Verner Ayukegba, Senior-Vice President at the AEC and Justin Cochrane, African Upstream Regional Research Director, S&P Global Commodity Insights – provided insight into ongoing exploration efforts across both countries, with presentations investigating how Namibia – as a relatively new upstream play – can learn from Guyana’s experiences.

Namibia has quickly risen to become a highly attractive E&P market, with three major discoveries made in 2022 and 2023 incentivizing a strong slate of regional and global players to the country’s offshore basins. Eager to maintain this exploratory momentum, Maggy Shino, Petroleum Commissioner at Namibia’s Ministry of Mines and Energy, stated that for now, the government has no plans in place to change the current licensing structure in the country, but rather, it is committed to ensuring that the upstream market is “open for investment. We don’t want to force companies to make a decision in a licensing round but want to remain open for investment so that companies come when they are ready.”

According to Shino, “We have an ongoing drilling campaign with three rigs currently busy drilling appraisal and exploration wells. We are expecting two more wells to be drilled before the end of 2023 in the deep waters.” She added that the southern African country is seeing a rise in seismic surveys, and by the end of the year, the government is planning to announcement a series of drilling projects that will take place during 2024. 

To date, the Orange Basin represents the only de-risked acreage in Namibia, however, ongoing seismic campaigns in the Namibe and Walvis Basins are likely to reveal sizeable finds, particularly following successful exploration campaigns in the Angolan side of the offshore acreage.

Notwithstanding E&P incentives, Shino explained that the country is seeing heightened interest by global players, owing largely to Namibia’s attractive fiscal and regulatory environment. She stated that, “as a country, there is a benefit of being a late comer because we have gained insights from other countries on how to maximize our [legislation].”

We have an ongoing drilling campaign with three rigs currently busy drilling appraisal and exploration wells

While other countries continue to face challenges associated with environmental concerns, Namibia’s position as a new market has enabled the country to include environmental provisions in the drafting of its legislation. This has not only enhanced its attractiveness as an investment destination but ensures the protection of the environment – a top priority for the southern African country. According to Shino, “the Environmental Management Act has taken into consideration many scenarios to ensure industry growth as well as environmental sustainability. We continue working with civil society to ensure that our laws improve and will continue to provide the much-needed protection of the environment.”

Meanwhile, as a nascent energy market, Namibia has the opportunity to learn from those that went before it. Historically, resource-rich countries have all witnessed an ‘oil boom,’ a trend in which only the communities directly connected to energy developments reap the rewards. However, Namibia is committed to turning this trend around, implementing a number of local content mechanisms to enhance value addition and economic prosperity. According to Shino, the country is turning to its neighbors including Angola, Nigeria, Equatorial Guinea and others to strengthen local content ahead of first oil and gas. The government is also prioritizing economic diversification to ensure the development of various segments of the economy, with tourism having been identified as a top industry.

Shino also provided insight into the country’s potential Organization of Petroleum Exporting Countries (OPEC) membership, stating that “we see great value that an organization like OPEC has in managing the dynamics of the market to ensure that the industry strives. We would like to join at the right time.”

While the offshore basins of Guyana and Namibia show few geological similarities, the timelines by which exploration efforts were undertaken and major discoveries were made are remarkably similar. Both countries witnessed over 50 years of exploratory efforts which yielded few results. However, following initial major discoveries, the pace at which developments, as well as associated E&P campaigns, kicked off rapidly accelerated.  

According to Joaquim de Azevedo, Principal Petroleum Economist for Upstream Solutions at S&P Global, the contribution towards GDP growth by the oil and gas sector will trigger an increase in wealth and improvement regarding the well-being of the population of both countries. He said both countries have fiscal terms which are attractive to global investors and are both prioritizing the rollout of gas-to-shore facilities to meet local demand using domestic resources.

Erik Meyer, Senior Technical Research Analyst at S&P Global, added that Guyana and Namibia both rank among the world’s top 25 basins by identified reserves, with Guyana leading at 18 billion barrels of discovered hydrocarbons while Namibia ranks high with its Venus and Graff-1 discoveries. Meyer emphasized that the discoveries made in the southern African country has “unlocked Namibia’s deepwater potential, with a number of prospects not yet explored in the Orange Basin. There is a lot of potential in the basin and we could see future large-scale discoveries.”

For Guyana, the country made 30 discoveries offshore, finds which have enabled further exploration as revenue increases. Similarly, with its three discoveries made to date, Namibia, according to Cody Schulte, Senior Technical Research Analyst, Upstream at S&P Global, is well positioned to attract a new wave of funding. He said that both countries are similar in the fact that testing and drilling across ultra-deep waters have been key for players present in Namibia and Guyana.

Distributed by APO Group on behalf of African Energy Chamber.

Business

ACG CEO Paulo J. Cruz to Speak at the Angola Access & Investment Conference 2026 in Luanda on How Sport and Entertainment Districts Can Drive Inclusive Economic Growth Across Africa

Published

on

ACG

Cruz joins heads of state, ministers, ambassadors, and CEOs from over 60 international markets at one of Angola’s flagship investment conferences, connecting sport infrastructure to job creation, accessibility, and sustainable development

LUANDA, Angola, October 14, 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 the origination of bankable sport and entertainment district ecosystems, today announced that its CEO, Paulo J. Cruz, will speak at the Angola Access & Investment Conference 2026 (AAIC) (www.aaic.ao) in Luanda, Angola, from 14 to 17 October 2026.

 




 
 

The AAIC is organised by Expo Connect Angola in partnership with Skyliam Properties, the Cópia Group, and Angolan Business Beyond Borders, with the support of the Angola-Mozambique Chamber of Commerce and Industry (CCIAM) and the Angolan Ministry of Tourism and the Ministry of Telecommunications, Information Technologies, and Social Communication. The conference brings together heads of state, ministers, ambassadors, CEOs, investors, development banks, and business leaders from over 60 international markets.

Mr Cruz will address how ACG’s origination of integrated sport and entertainment districts contributes directly to inclusive economic growth. His intervention will focus on how sport infrastructure, when designed as a financially self-sustaining urban ecosystem, becomes a catalyst for large-scale job creation, skills development, accessible infrastructure, and long-term economic diversification.

Sport infrastructure has the power to be one of the most inclusive economic assets a country can build

The AAIC’s focus on accessibility and inclusion aligns directly with ACG’s approach to sport and entertainment district development. A Victory District™ is designed from inception to serve the widest possible community: creating permanent employment across dozens of professions, providing professional sport training facilities for young athletes, and generating economic activity that benefits surrounding neighbourhoods year-round.

“Sport infrastructure has the power to be one of the most inclusive economic assets a country can build,” said Paulo J. Cruz, CEO of ACG. “A Victory District™ does not just create stadiums. It creates thousands of permanent jobs, from hospitality to broadcast production, from sport coaching to facility management. It creates training pathways for young athletes. And it creates an urban ecosystem that generates economic activity 365 days a year. That is inclusive growth in practice, not in theory. I am honoured to share that vision at the AAIC alongside some of Africa’s most influential investors and decision-makers.”

The AAIC programme includes official MoU signing ceremonies, B2B investment rounds, VIP executive networking with senior government and business leaders across 10 dedicated Business Lounges, and the inauguration of Angola’s first assistive technology factory. The conference covers priority sectors including energy, mining, accessible tourism, agriculture, logistics, health, and infrastructure.

ACG’s Victory District™ framework is designed to originate integrated, mixed-use sport and entertainment districts that move beyond single-venue development models. Each district combines stadiums, indoor arenas, training academies, hotels, conference centres, retail, entertainment, residential, and commercial space within a single masterplanned development, financed by private and institutional capital without reliance on public subsidy.

Mr Cruz brings more than 28 years of experience across Africa, the Middle East, and Europe in originating, structuring, and delivering large-scale infrastructure, urbanisation, and real estate development initiatives. Prior to ACG, he served as Senior Vice President at DAMAC Group, the largest private real estate developer in the Middle East, and as Group CEO of LandAfrique, a pan-African development platform focused on industrial parks, infrastructure, housing, and power projects across Sub-Saharan Africa.

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

 

 




 

Continue Reading

Business

Venezuelan Oil and Gas Opportunities Take Center Stage at African Energy Week (AEW) 2026

Published

on

Venezuela

The country is promoting new hydrocarbons contracts, upstream and refining opportunities, and technical partnerships with Africa to attract investment and strengthen local energy sector capabilities

CAPE TOWN, South Africa, October 14, 2026/APO Group/ –Venezuela is seeking to attract international investment into its oil and gas sector while building stronger energy partnerships with African countries. Revised hydrocarbon legislation offers new entry routes for private operators, while cooperation on technical training could help African markets draw on Venezuela’s industry expertise. These opportunities featured at the Venezuela Global Investment Forum during African Energy Week (AEW) 2026 in Cape Town.

 




 
 

Ricardo Gomez, Venezuela’s Vice Minister of Commercial Policy, outlined the country’s investment proposition, highlighting 303 billion barrels of proven oil reserves and 193 trillion cubic feet of natural gas.

“Venezuela combines a large hydrocarbon resource base with refining infrastructure and a market that needs reliable energy,” he said. “The opportunities extend from upstream projects to downstream and refining.”

The country’s amended Organic Hydrocarbons Law introduces new ways for international companies to enter the market. Hydrocarbon production participation contracts allow private operators to manage designated assets, oversee operations and market production under negotiated terms. Agreements can extend for 25 years, offering a longer investment horizon for field development and rehabilitation.

Restructured joint venture companies provide another route, retaining majority state ownership while allowing international partners to take on operational responsibilities through approved agreements. Direct ministerial contracts and strategic alliances offer additional opportunities in field redevelopment, oilfield services and infrastructure.

Venezuela is seeing a lot of interest as a result of aggressive fiscal and regulatory changes that are making the country more attractive

Potential investments span heavy-oil production in the Orinoco Belt, mature onshore fields, offshore gas, pipeline rehabilitation, export terminals and refinery upgrades. Venezuela’s target of signing 105 definitive oil contracts by year-end reflects its wider effort to attract operators and accelerate project development.

Scott Gilbert, CEO and Executive Director of Corcel Plc and Non-Executive Chairman of Apertura Energy, highlighted investor interest in the changing regulatory environment. “Venezuela is seeing a lot of interest as a result of aggressive fiscal and regulatory changes that are making the country more attractive,” he said.

Alongside these commercial opportunities, Venezuela is promoting its technical expertise through the Venezuelan University of Hydrocarbons (UVH). Celia Bejarano, the university’s President, explained how the institution trains engineers and geologists in geophysics, reservoir engineering, well management, natural gas and petrochemicals.

“The Venezuelan University of Hydrocarbons was created to deliver a specialized institution where the country can train its own recruits to develop its own premier resources,” Bejarano said.

Through its Africa-Venezuela Energy Partnership with the African Energy Chamber (AEC), UVH is advancing technical training, knowledge exchange and workforce development. The initiative could help African energy projects apply Venezuela’s experience in heavy-oil production and offshore engineering while strengthening local capabilities. Rene Awambeng, founder and managing partner of Premier Invest, highlighted this opportunity for African developers.

“When we are developing our assets here, we always import talent,” he said. “With the Venezuelan University of Hydrocarbons, we can actually leverage Venezuela’s immense experience to support local content development here in Africa.”

Also speaking during the discussion, NJ Ayuk, Executive Chairman of the AEC, emphasized the strategic value of closer ties between the regions. “Our energy industry has an amazing ally in Venezuela,” he said, describing the country as “open for business and ready to partner with Africa.”

Distributed by APO Group on behalf of African Energy Chamber.

 




 

Continue Reading

Business

Sonangol Cites Commitment to Privatization as Company Charts Next Growth Phase

Published

on

Katambi

Katambi-2 appraisal, infill drilling and downstream construction frame the national oil company’s priorities as it marks its 50th anniversary

CAPE TOWN, South Africa, October 14, 2026/APO Group/ –Angolan National Oil Company Sonangol is advancing plans for an initial public offering (IPO) while expanding its upstream portfolio and investing in Angola’s domestic refining capacity, as the national oil company charts its next phase of growth following its 50th anniversary in 2026. Speaking at the opening ceremony of African Energy Week (AEW) 2026, Executive Board Member Osvaldo Inácio reaffirmed the company’s commitment to privatization, alongside efforts to increase production, progress new developments and translate Angola’s oil and gas resources into broader economic growth.

 




 
 

 

“We want to make sure that we do it in a way that, when you buy your shares, you are happy with the performance of those shares. We are doing the internal work required to make sure that when we get to that point, it’s a successful story,” he said.

We want to make sure that we do it in a way that, when you buy your shares, you are happy with the performance of those shares

Sonangol’s 50th anniversary comes as Angola’s NOC develops opportunities across exploration, producing assets and domestic processing. Its next investment phase requires capital and technical partners to turn appraisal results into developments while delivering refinery infrastructure and expanding the value retained from Angola’s oil and gas production.

“We are thinking about what the next 50 years will be like, focusing on producing to transform. We are not only looking at managing resources but how we translate those resources into overall development in the country,” he said.

Sonangol’s September account of its Katambi-2 work in Block 24 described a completed formation test in a non-associated gas reservoir, providing further evidence for assessment of the field’s development potential. In its producing portfolio, the company and its partners also reported approximately 100 meters of net oil pay at PAC 416 in Block 3/05, as part of a program intended to increase operated production. The results give Sonangol a technical basis for future investment, while appraisal, development design and commercial arrangements remain necessary steps.

“If you look at our portfolio, we have both operated and non-operated assets. The focus is on making sure we are doing everything we can to make sure those assets are still producing at the highest rate possible. New developments such as Block 3/05 are advancing. We are also part of Kaminho with TotalEnergies,” Inácio shared.

Downstream, Angola’s government reported in September that the Lobito refinery was approximately 26% physically complete, with around $1.6 billion invested and completion envisaged for 2029. A potential petrochemical complex was under study. Alongside Cabinda’s initial 30,000-bpd refining phase, Lobito gives Sonangol’s diversification program a concrete industrial focus, with financing, construction progress and product marketing central to the next stage.

Distributed by APO Group on behalf of African Energy Chamber.

 




 

Continue Reading

Trending