Gabon Oil Company Chief Executive Officer (CEO) Joins African Energy Week (AEW) 2025 Following Major Asset Acquisition from Tullow Oil
Marcellin Simba Ngabi, CEO of Gabonese parastatal Gabon Oil Company (GOC), is set to speak at Africa's premier energy event, African Energy Week (AEW): Invest in African Energies 2025, which takes place in Cape Town from September 29 to October 3. Ngabi's presence at AEW: Invest in African Energies 2025 signals a bold new era for state-led energy development as GOC transitions from a partner in operations to a primary driver of upstream growth and regional integration.
Ngabi's participation comes shortly after the GOC's landmark $300 million acquisition of oil and gas company Tullow Oil's entire Gabonese portfolio, a transaction that includes 10,000 barrels per day (bpd) in production and 36 million barrels of proven reserves. The acquisition underscores GOC's strategic push to ramp up national oil production and attract new investment into Gabon's energy sector. During AEW: Invest in African Energies 2025, Ngabi is expected to share insight into the company's portfolio expansion, detailing how this recent acquisition supports the country's broader production goals.
AEW: Invest in African Energies 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.
With over two billion barrels of proven oil reserves and significant gas potential, Gabon is reasserting its position as one of Africa's most promising energy frontiers. As the country seeks to boost production to 220,000 bpd, GOC is spearheading efforts to optimize mature fields, unlock value from marginal assets and fast-track project development. Recent developments include the GOC's oilfield development partner BW Energy's fast-tracked production start at the Hibiscus South satellite prospect, situated in the Dussafu license, which added 5,000-6,000 bpd within five months of discovery. Meanwhile, in 2024, GOC completed the acquisition of the private equity company Carlyle Group-owned Assala Energy – adding seven onshore licenses, a pipeline network and the Gamba export terminal to its portfolio. These milestones highlight GOC's commitment to rapid asset turnaround and production growth.
Beyond oil, GOC is advancing Gabon's Gas Master Plan to monetize the country's three to five trillion cubic feet of natural gas reserves. Strategic initiatives include independent oil and gas company Perenco's $1 billion Cap Lopez LNG terminal – set to come online in 2026 – and the Batanga LPG plant, which became operational in December 2023. These efforts form part of a broader national drive to reduce flaring, strengthen downstream industries and diversify the country's energy mix.
At AEW: Invest in African Energies 2025, Ngabi is expected to showcase Gabon's revitalized upstream agenda, highlight new investment opportunities across the oil and gas value chain and outline the national oil company's vision for leveraging international partnerships to drive sustainable growth. His participation is also set to highlight how national oil companies are transforming Africa's energy narrative through bold acquisitions, technology adoption and regional cooperation.
'Gabon's recent acquisitions and project milestones position the country as a rising force in Africa's upstream resurgence. Ngabi's participation at AEW: Invest in African Energies 2025 reinforces the central role national oil companies are playing in unlocking Africa's energy future, and we look forward to his insights on Gabon's strategic roadmap,' stated Tomás Gerbasio, VP of Commercial and Strategic Engagement, African Energy Chamber.
Distributed by APO Group on behalf of African Energy Chamber.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
42 minutes ago
- Zawya
Cassa Depositi e Prestiti and SACE provide EUR250 Million to Africa Finance Corporation
Africa Finance Corporation (AFC) ( the continent's leading infrastructure solutions provider, has secured a landmark EUR 250 million 10-year term loan facility from Cassa Depositi e Prestiti (CDP) the Italian Financial Institution for Development Cooperation. The transaction is backed by a guarantee from SACE, the Italian insurance and financial group fully owned by the Italian Ministry of Economy and Finance, covering up to 80% of the facility amount. The financing builds on engagement at the Mattei Plan-Global Gateway summit, attended by Italian Prime Minister Giorgia Meloni, European Commission President Ursula Von der Leyen, CDP, SACE and AFC, where the parties confirmed their intent to collaborate. The facility is structured to cultivate Italian supply chain opportunities in infrastructure and renewable energy generation, including the supply of components for the Lobito Railway Corridor - a commercial railway line that will run through Angola and extend to the borders of Zambia and the Democratic Republic of Congo. This long-term facility deepens AFC's strategic partnership with both CDP and SACE, while reinforcing its mandate to mobilise high-quality, long-tenor capital in support of delivering sustainable infrastructure across Africa. "Cassa Depositi e Prestiti confirms its role as a strategic partner in supporting infrastructure projects with a high social and economic impact in Africa. With this financing - said Dario Scannapieco, Chief Executive Officer of CDP - we are strengthening business and technological relations between Italy and Africa, enhancing talent and innovation. We are convinced that investing in strategic projects not only creates new opportunities for our companies but also helps to build lasting and shared ties capable of fostering growth and well-being for local communities." 'We are proud to contribute to the involvement of Italian companies in the transport and logistics sector to realise a significant strategic project like the Lobito Railway Corridor within the Mattei Plan,' said Alessandra Ricci, CEO of SACE. 'This collaboration reaffirms SACE's commitment to promoting new connections for Italian companies seeking to diversify their exports and embrace new growth opportunities.' ' Our partnership with CDP, further strengthened by SACE's guarantee, exemplifies the power of blended finance in unlocking capital for infrastructure development in Africa,' said Banji Fehintola, Executive Board Member and Head, Financial Services, AFC. ' The Lobito Corridor is a transformational project that will open new trade routes for resources, support regional industrialisation, accelerate job creation and strengthen Africa's position in global value chains, while delivering long-term, inclusive growth. ' Distributed by APO Group on behalf of Africa Finance Corporation (AFC). SACE Media gallery: Media Enquiries: Communications Africa Finance Corporation Email: communications@ SACE Press Office ufficiostampa@ CDP Media Relations Tel: +39 06 42213990 Website: Follow CDP on: LinkedIn: X: Facebook: Instagram: YouTube: About Lobito Corridor Rail Project: The railway line will be approximately 830 km long and will connect Chingola in Zambia to Luacano in Angola with the aim of facilitating the transportation of agricultural products, minerals and consumer goods. The greatest opportunities for the Italian supply chain in the region lie in sectors such as energy, renewables, transportation and logistics. About CDP: Cassa Depositi e Prestiti is the National Promotional Institute which has been supporting the Italian economy since 1850. The main goal of CDP is to accelerate the industrial and infrastructural development of Italy to boost its economic and social growth. CDP focuses its activities on sustainable development at local level, supporting the innovation and growth of Italian enterprises, also in the international arena. It partners local authorities, in a financing and advisory capacity, to create infrastructures and improve services of public value. CDP also participates actively in international cooperation initiatives to realize projects in developing countries and emerging markets. Cassa Depositi e Prestiti is entirely financed by private capital, through the issuing of Postal Savings Bonds and Postal Savings Passbooks, and through issues on national and international financial markets. About SACE: SACE is the insurance and financial group controlled by the Ministry of Economy and Finance, specialising in supporting the growth of Italian companies through a wide range of solutions to facilitate export and innovation, including financial guarantees, factoring, risk management and protection, advisory services and business matching. With a network of 11 offices in Italy and 13 worldwide in target countries for Made in Italy products, SACE serves over 60,000 companies, supporting their growth in Italy and globally, with a portfolio of insured operations and guaranteed investments totalling EU 267 billion across approximately 200 foreign markets. About AFC: AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC's approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa's infrastructure development needs and drive sustainable economic growth. Eighteen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in core infrastructure sectors. AFC has 45 member countries and has invested over US$15 billion since its inception.
The National
an hour ago
- The National
AI, investment and energy discussed during UAE meeting at White House with Vice President JD Vance
UAE officials met US Vice President JD Vance at the White House on Friday to discuss AI, recent investment initiatives and increased energy co-operation. Dr Sultan Al Jaber, Minister of Industry and Advanced Technology and managing director and group chief executive of Adnoc, along with Yousef Al Otaiba, the UAE's ambassador to the US and Minister of State, took part in the meeting with the US Vice President. The discussions centred on the UAE's commitment to invest $1.4 trillion in the US for artificial intelligence infrastructure, semiconductors, energy and manufacturing. Earlier this week in Washington at the Atlantic Council's Global Energy Forum, Dr Al Jaber reflected on the unique opportunities unfolding for countries around the world – chiefly the burgeoning AI sector. In March, Mr Vance praised the UAE's focus on AI at the American Dynamism Summit. 'One of the things they [UAE] consistently hammer upon … is that if you want to lead in artificial intelligence, you have got to be leading in energy production,' he said. Over the past decade, the UAE − the Arab world's second largest economy − has been working to become an AI frontrunner as it diversifies its economy away from oil. The country's efforts have resulted in the establishment of start-ups as well as partnerships and investments with industry leaders like Microsoft, Nvidia and OpenAI. Through the creation of language models such as Falcon Arabic, the UAE has also sought to ensure aspects of Arabic culture are not left behind in the AI surge, with many large language models based on English-language data. In 2019, the UAE announced the establishment of a university dedicated to AI, Mohamed bin Zayed University of Artificial Intelligence. Several years before, the UAE was among the first in the world to appoint an AI Minister, Omar Al Olama.
Zawya
2 hours ago
- Zawya
From Discovery to Delivery: Building a Legal Framework for Namibia's Midstream Infrastructure (by Rachel Mushabati)
By Rachel Mushabati, Senior Associate Attorney&Country Head – CLG Namibia ( Namibia's recent offshore oil discoveries mark a pivotal moment in the country's energy sector. With major players such as Shell, TotalEnergies, QatarEnergy, and Galp uncovering significant reserves, Namibia is poised to become a key oil producer. However, while exploration and production activities have gained momentum, the midstream sector; involving transportation, storage, and refining of petroleum, remains underdeveloped. A strong legal framework for midstream infrastructure is essential to ensure that Namibia maximizes economic benefits, attracts investment, and builds a sustainable energy industry. CLG Legal and Business Advisory, with its extensive advisory experience across Africa, is uniquely positioned to support this transition. CLG has advised on midstream regulatory frameworks, infrastructure structuring, and investment promotion strategies in various jurisdictions, and brings this expertise to the Namibian context. Understanding Midstream Infrastructure and Its Importance Midstream infrastructure serves as the critical link between oil extraction and the end consumer. This includes pipelines, refineries, storage facilities, and specialized port infrastructure that facilitate the transportation of crude oil and natural gas. Without adequate midstream infrastructure, Namibia risks becoming an exporter of raw crude without capturing additional value through processing and distribution. A robust midstream sector can boost job creation, industrial development, and energy security, making it a strategic national priority. Market studies from other African producers have shown that well-developed midstream infrastructure can contribute up to 30% more in local value addition compared to direct crude exports.[1] In Ghana, for instance, domestic refining and pipeline infrastructure contributed significantly to its GDP growth in the petroleum sector between 2016–2022. Namibia has the opportunity to tap into similar economic potential.[2] Existing Legal Framework and Gaps Namibia's petroleum sector is primarily governed by the Petroleum (Exploration and Production) Act 2 of 1991 and the Petroleum Products and Energy Act 13 of 1990. These laws focus largely on upstream activities and the regulation of downstream petroleum products. However, there is no dedicated midstream regulatory framework. The absence of clear midstream regulations means there is little guidance on ownership structures, investment incentives, and operational guidelines for pipelines, storage, and refining facilities. For example, Nigeria's midstream sector prior to the Petroleum Industry Act (2021) faced significant bottlenecks due to the absence of a clear regulatory framework, particularly regarding third-party access and tariff setting for pipeline infrastructure. These issues led to investor reluctance and underinvestment, which were only addressed after the establishment of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (Nigeria Petroleum Industry Act, 2021). Lessons from Other Oil-Producing Countries Namibia can draw inspiration from countries that have successfully developed midstream infrastructure through effective regulation. Norway, for example, has established a robust midstream legal framework that ensures state participation in pipelines and refineries while promoting private investment.[3] Ghana has a dedicated Petroleum Midstream Regulatory Authority that oversees infrastructure development and ensures compliance with environmental and safety standards. Similarly, Nigeria's Petroleum Industry Act (2021) introduced the Nigerian Midstream and Downstream Petroleum Regulatory Authority, which provides clear guidelines on pipeline ownership and operations. The Role of Key Stakeholders in Strengthening Namibia's Legal Framework To unlock the full potential of the midstream sector, coordinated action is required among various stakeholders: Government Ministries and Regulators: Responsible for drafting legislation, setting environmental and safety standards, and issuing licenses. Private Sector and Investors: Bring in capital and technical expertise, while also needing legal certainty to invest confidently. State-Owned Entities: Can serve as infrastructure operators and strategic partners in public-private partnerships. Civil Society and Communities: Essential for ensuring environmental accountability and social license to operate. Legal Advisory Firms: Provide technical assistance in drafting laws, structuring transactions, and navigating policy reform. Strengthening Namibia's Midstream Legal Framework To address the existing gaps, Namibia must develop a comprehensive legal framework that clearly defines the governance of midstream activities. A dedicated Midstream Act would be a crucial first step, providing legal certainty on pipeline infrastructure, refineries, storage, and transportation. Encouraging public-private partnerships can drive midstream development while ensuring local participation. Establishing an independent regulatory authority will help enhance transparency, streamline approvals, and enforce compliance. Additionally, Namibia should implement policies that prioritize local employment and skills transfer, ensuring that midstream investors contribute to national workforce development. Environmental and safety standards must also be strengthened to mitigate risks associated with pipeline integrity, spill prevention, and emergency response. To further attract investors, tax breaks, duty exemptions, and streamlined licensing processes should be introduced to make Namibia a more competitive destination for midstream infrastructure development. Conclusion For Namibia to fully capitalize on its oil discoveries, it must establish a strong midstream legal framework that facilitates the efficient transportation, storage, and processing of petroleum resources. Without this, the country risks losing significant economic value and remaining dependent on crude exports. By adopting best practices from other oil-producing nations and implementing strategic legal reforms, Namibia can create a thriving midstream sector that benefits both investors and citizens alike. CLG stands ready to support this transformation, leveraging its pan-African expertise in midstream regulation, infrastructure development, and legal advisory. Our team has been instrumental in shaping midstream legal regimes across West and Central Africa, and we are committed to helping Namibia build a regulatory foundation that supports sustainable growth and long-term prosperity. [1] Ruben, R., Kuijpers, R.,&Dijkxhoorn, Y. (2022). Mobilizing the Midstream for Supporting Smallholder Intensification. Land, 11 (12), 2319. [2] Oxford Business Group. 'Ghana's energy production targets and exploration attract investment'. Retrieved from [3] Norwegian Petroleum Directorate (2021). 'Midstream Regulatory Framework and Investment Guidelines'. Distributed by APO Group on behalf of CLG.
