Latest news with #AfricanEnergyChamber
Zawya
a day ago
- Business
- Zawya
Minister Diamantino Azevedo Awarded Medal for Peace and Energy Leadership as Angola Charts Bold Energy Future
In recognition of a lifetime dedicated to peace, development and the advancement of Angola's oil and gas industry, Diamantino Pedro Azevedo, Minister of Mineral Resources, Petroleum and Gas, has been awarded the Commemorative Medal for the 50 th Anniversary of National Independence in the Peace and Development Class by Angola's President João Lourenço. As the voice of the African energy sector, the African Energy Chamber (AEC) ( strongly supports the honor bestowed upon Minister Azevedo, whose visionary leadership has catalyzed a new era of investment and growth in Angola's energy sector. As an advocate for enabling African energy success through policy reform, infrastructure reform and global investment, the AEC applauds Minister Azevedo for his bold agenda to transform Angola into a regional petroleum hub. Under his guidance, the country has rolled out game-changing initiatives including a $60 billion upstream investment drive, a multi-phase refinery rollout, licensing reforms and development of an upcoming Gas Master Plan (GMP). Minister Azevedo's leadership has ushered in a 2025-2028 project pipeline that is expected to significantly boost production and catalyze cross-sector development. Key initiatives include the Cabinda Refinery – set to start operations in 2025 with a capacity of 60,000 barrels per day – as well as the Agogo Integrated West Hub Development and Kaminho Deepwater Project, both on track for 2026 and 2028, respectively. Angola is also advancing its first-ever non-associated gas project through the New Gas Consortium, expected to launch in 2026. At the same time, frontier exploration will begin in the Etosha-Okavango basin, while independent oil companies target new opportunities in the onshore Kwanza basin. These developments are supported by a new licensing round in 2025, which will offer 10 offshore blocks in the Kwanza and Benguela basins, highlighting Angola's drive to open new acreage and attract further investment. Since Angola launched its six-year licensing round in 2019, the country has awarded 41 concessions to a mix of international and regional companies. At the same time, new opportunities in marginal fields have opened doors for smaller independent operators to enter the market. Currently, five marginal fields are available, with prospects in Blocks 4, 14, 15 and 18. To further boost investment, the government introduced a permanent offer program and launched the Incremental Production Initiative in 2024 – designed to encourage reinvestment in mature fields. The initiative is already showing results, with energy major ExxonMobil announcing a new discovery at the Likembe-01 well, the first under the program. As the country works to diversify its energy mix, the AEC strongly supports the forthcoming launch of Angola's GMP, a 30-year strategy that aims to create a competitive domestic gas market. the GMP is expected to provide clear policy direction for investors while linking upstream projects to local value chains. Meanwhile, Minister Azevedo is also leading the push to extend Angola's licensing strategy beyond 2026, offering new opportunities for both frontier and onshore developments. As Angola hosts the Angola Oil&Gas 2025 conference in Luanda this September, Minister Azevedo will deliver a keynote address and participate in a high-level Fireside Chat – outlining the government's vision for transforming Angola into a globally competitive energy economy. Taking place on the eve of the country's golden jubilee, the event will explore the role oil and gas has played over the past five decades, while charting a future defined by policy certainty, youth- and women-led innovation, infrastructure growth and regional integration. 'Minister Azevedo has consistently demonstrated that energy development is a pathway to peace, progress and shared prosperity. The Chamber sees the medal not only as a personal honor, but as a symbol of what energy leadership can accomplish when tied to national development. We congratulate Minister Azevedo on this well-deserved recognition and remain committed to working alongside Angola to build the next 50 years of hydrocarbon success,' states NJ Ayuk, Executive Chairman, AEC. Distributed by APO Group on behalf of African Energy Chamber.
Zawya
6 days ago
- Business
- Zawya
Positioning Youth at the Forefront of Africa's Energy Future: African Energy Chamber (AEC) Endorses Youth in Oil & Gas Summit 2025
With first oil production on the horizon in Namibia, the country is on track for rapid growth across its oil, gas and broader energy sectors. This highlights a strategic opportunity for the country's youth, and the upcoming Youth in Oil&Gas Summit – taking place July 25-26, 2025, in Walvis Bay – seeks to position young professionals at the forefront of Namibia's energy development. Held under the theme Drilling into the Future: Empowering Youth in Namibia's Oil&Gas Revolution, the second edition of the Youth in Oil&Gas Summit represents a vital platform for advancing youth-led innovation and inclusion. Offering a vibrant platform for dialogue, education and strategic collaboration, the summit provides an opportunity for meaningful engagement between youth and energy leaders, thereby positioning youth at the helm of Namibia's energy future. The African Energy Chamber (AEC) – representing the voice of the African energy sector – offers its full support and endorsement of the upcoming summit. As a strong advocate for the role youth play in the oil and gas sector, the AEC considers this a vital platform for enhancing collaboration, fostering dialogue and advancing projects. The Youth in Oil&Gas Summit comes at a critical time for Namibia's oil and gas industry. Having emerged as one of the world's most promising frontiers, the country has witnessed a series of exploration success across its offshore market in recent years. The country is on track for first oil production by 2029, led by the TotalEnergies-operated Venus field, which anticipates a final investment decision in 2026. Other projects such as the Galp-led Mopane development are also driving this production timeline. The company has made a string of discoveries at its exploration wells at the Mopane field – situated in PEL 93 -, with the latest made in February 2025. These discoveries have revealed the potential of over 10 billion barrels of oil. Additional exploration campaigns in the Orange basin include in PEL 85, where energy company Rhino Resources is exploring. Energy services firm Halliburton announced the delivery of two exploration wells at Block 2914 in PEL 85 in May 2025. This follows a discovery made by Rhino Resources at the Capricornus-1X well in April 2025 and the confirmation of a hydrocarbon reservoir at the Sagittarius-1X well in February 2025. Other players such as Stamper Oil&Gas Corp and Pancontinental are also pursuing exploration projects, with interests in the Orange basin's Block 2712A and PEL 87, respectively. Beyond the Orange basin, Stamper Oil&Gas Corp secured stakes in Block 2914B in the Lüderitz Basin in 2025, as well as Blocks 2213, Block 2011B and Block 2111A in the Walvis Basin. The Lüderitz asset is situated in the southern part of the basin, with drilling expected to start in 2025. Energy major Chevron also acquired an 80% operating stake in Blocks 2112B and 2212A in the Walvis Basin, highlighting the level of global interest in Namibian assets. The country is also accelerating the development of the Kudu gas field – spearheaded by BW Energy. The field is situated in PEL 003 and, following completion, will be a key gas-to-power project in Namibia, utilizing a floating production unit to harness gas resources from the Kudu prospect. An appraisal well is set to be spud in late 2025, targeting the Kharaas Prospect in the north-west section of the Kudu formation. Namibia is also making a strong play for onshore exploration, with campaigns led by energy company ReconAfrica. With stakes in the onshore Kavango basin, ReconAfrica is advancing its 2024 drilling campaign, targeting 3.4 billion barrels of recoverable oil in the Damara Fold Belt. Preparations are underway to spud a second exploration well. The company has since raised C$18 million to finance exploration activities, including drilling the Kavango West 1X well. The well targets 346 million barrels of gross unrisked prospective crude oil and 1,839 billion cubic feet of natural gas. Drilling is set to commence after rig mobilization – planned for June/July 2025, pending final permits. These exploration campaigns have not only unlocked opportunities for domestic oil and gas production, but highlighted the level of commercial opportunity available in Namibia's oil and gas sector. Beyond upstream, the country is also aligning investments with broader goals of enhancing fuel security through modernized infrastructure. Notably, Nigeria's Dangote Refinery is expected to construct a 1.6-million-barrel fuel storage facility in Namibia. A tripartite agreement was also signed between the Namibian ports Authority and the respective national oil companies of Angola and Namibia to establish an integrated logistics base in Namibia. These introduce strategic opportunities for youth across the entire oil and gas value chain and the upcoming Youth in Oil&Gas Summit will outline opportunities, challenges and potential collaborations. 'This is our opportunity to promote youth and encourage them to be drivers of the future. Namibia is on track for rapid growth across its oil and gas, but without youth, it will fail to unlock the full potential of the sector. This is the time to establish mechanisms that encourage participation, foster inclusion and place collaboration at the forefront of development,' states NJ Ayuk, Executive Chairman of the AEC. Distributed by APO Group on behalf of African Energy Chamber.
Zawya
7 days ago
- Business
- Zawya
Nigeria: Collaboration is Key to Unlocking Marginal Field Potential (By Grace Orife)
By Grace Orife, African Energy Chamber ( board member Nigeria's oil and gas sector stands at a strategic inflection point and the country's marginal fields are vital for growth and sustaining upstream activity. These smaller, often undercapitalised fields, especially in shallow waters, are rich with potential. But the obstacle isn't the geology—it's fragmentation. Marginal fields in Nigeria are primarily operated by indigenous companies building pursuing parallel strategies and competing for capital, technology and talent. The result? Redundant investments, suboptimal recovery, and a lack of scalable impact. What the sector needs now is not more competition, but more cooperation with an outlook on investment. Shared Infrastructure, Shared Value The current model of asset duplication—each operator investing separately in logistics, facilities and maintenance—is financially and operationally inefficient. A shared infrastructure model dramatically reduces cost per barrel and enhances asset longevity. Value creation replaces asset control as the strategic lens. A great example of this is the 48Km pipeline Umutu to Kwale, Delta state – a joint venture between Platform Petroleum and Newcross Petroleum. Indigenous joint ventures can create more bankable projects, unlock blended finance models and even attract ESG-linked capital. Scale is no longer just a metric—it's a signal. Another example is the Otakikpo onshore terminal in OML 11, completed in 2025. Developed by Green Energy International, the terminal is the first indigenous facility constructed in the country in five decades. With a storage capacity of 750,000 barrels – set to increase to three million barrels depending on market demand – and an export capacity of 360,000 barrels per day, the facility reduces operating costs for marginal fields. The terminal is expected to unlock previously-stranded resources from up to 40 marginal fields, highlighting the value of shared infrastructure in Nigeria. Strengthened Policy The recently passed Petroleum Industry Act (PIA) is a game-changer for Nigeria's energy industry. By promoting transparency, streamlining regulations, and reforming tax and royalty structures, the PIA creates a more attractive environment for global investors. Crucially, the PIA also addresses marginal field development, providing a clear licensing framework and resolving legal ambiguities. With the PIA in place, Nigeria's energy sector is poised for a revival, enabling the country to better meet its domestic needs, including reliable electricity and economic growth. From Possibility to Practice: Building the Architecture for Collaboration When operators share more than just facilities—when they share insights, talent, and lessons learned—sector-wide operational resilience improves. Peer-to-peer learning reduces downtime, enhances safety practices, and fosters innovation. In high-risk environments, agility is a competitive edge. To translate this vision into operational reality, indigenous firms must move beyond handshake agreements to structured partnerships. Such partnerships must incorporate strong governance models - featuring transparent rules for decision-making, risk-sharing and conflict resolution. The utilization of neutral operators - third parties who manage shared infrastructure – will also ensure fair access, while structures such as joint operating agreements will enable companies to formalize roles, reduce costs and enhance performance. In this scenario, government regulators have a catalytic role to play. By offering fiscal incentives, easing licensing for consortia and prioritising collaborative proposals, they can turn policy into progress. The Future Belongs to the Connected The next chapter of Nigeria's upstream oil industry won't be written by solitary operators: it will be shaped by those who recognise that collaboration is not a compromise, but a competitive advantage. In an era of tighter margins, increasing stakeholder expectations, and declining investment in fossil fuels, the old model of isolated operation is no longer sustainable. Marginal fields represent more than untapped reserves - they are an opportunity to reimagine how indigenous oil and gas companies create value. By sharing infrastructure, pooling resources, and aligning strategies, local operators can unlock performance at scale, attract investment, and meet rising ESG standards with credibility. This is not just a call to cooperate - it's a strategic imperative. The future will favour those who embrace a new mindset: one that values partnership over ownership, ecosystem thinking over individual ambition, and shared impact over siloed success. The time to act is now. Distributed by APO Group on behalf of African Energy Chamber.
Zawya
14-07-2025
- Business
- Zawya
African Energy Week (AEW) 2025 to Outline African Block Opportunities Amid Surge in 2024/2025 Licensing Rounds
Africa is gearing up to attract a wave of investment in exploration blocks, with a surge in oil and gas licensing rounds being launched during the 2024/2025 period. According to the African Energy Chamber's State of African Energy 2025 Outlook Report ( these efforts are part of a broader strategy to unlock the continent's untapped energy potential, attract international investment and stimulate long-term economic growth. This year's African Energy Week (AEW): Invest in African Energies conference will spotlight Africa's licensing rounds, connecting operators to emerging blocks opportunities across the continent. North Africa Libya launched its latest licensing round in March 2025, offering 22 onshore and offshore exploration blocks across the Sirte, Murzuq and Ghadames basins. The licensing round has already drawn interest from 37 prospective companies, with contracts with successful bidders expected to be signed by the end of the year. Representing the country's first licensing round since 2011, the initiative comes as Libya seeks to increase production to two million barrels per day. Algeria awarded five licenses in June 2025 as part of its latest oil and gas bid round. Launched in November 2024, the bid round featured sic onshore blocks for competitive bidding and falls part of a broader multi-year licensing strategy aimed at attracting global investment in exploration opportunities. The blocks span five basins and represents a core component of the country's strategy to invest up to $50 billion into hydrocarbon projects over the next four years. Egypt launched a new bid round in March 2025, comprising 12 investment opportunities. The bid round includes 10 offshore blocks in the Mediterranean Sea and two onshore blocks in the Nile Delta region and comes as the country intensifies exploration across undeveloped acreage. West Africa Sierra Leone is preparing to launch a new licensing round in 2025 as part of its drive to fast-track exploration and become an oil-producing nation. The country currently has around 50 offshore blocks available for direct negotiation, spanning 63,000 km² and backed by a proven petroleum system. The upcoming licensing round will further entice spending. Nigeria is set to launch a new oil and gas licensing round in 2025, focusing on undeveloped fields. The upcoming round follows the successful conclusion of a 2024 tender, whereby 25 companies were awarded Petroleum Prospecting Licenses. Liberia also initiated a Direct Negotiation Licensing Round in 2024, with 29 offshore blocks available for investment in the Liberia and Harper basins. The licensing round seeks to drive new investment in the country's frontier basins and is supported by an extensive library of multi-client subsurface data, including over 24,000 kilometers of 2D seismic data and more than 26,000 km² of 3D seismic data. East Africa Tanzania is preparing to offer new oil and gas exploration opportunities with a licensing round launching in 2025. A total of 26 blocks will be made available, including three blocks in Lake Tanganyika and 23 in the Indian Ocean. The country's upstream regulator the Petroleum Upstream Regulatory Authority has already identified the blocks and compiled the necessary data for the process. Following government approval for the Model Production Sharing Agreement, the licensing round will be launched. The round represents the first in more than ten years. Additionally, Kenya is expected to launch its inaugural oil and gas licensing round in September 2025, offering ten blocks for exploration. The blocks were selected using geoscientific data to ensure a transparent allocation process. The licensing round is supported by comprehensive seismic surveys and geological reports, thereby supporting future exploration activities. Primary targets include the Lamu and Anza basins, both of which are known for their hydrocarbon potential. Uganda is also set to launch a licensing round during the 2025/2026 fiscal year, offering new areas for oil and gas exploration. Southern Africa Part of its six-year licensing strategy, Angola is expected to launch its next licensing round in 2025, offering ten blocks for exploration in the offshore Kwanza and Benguela basins. The bid round follows the successful conclusion of a 2023 tender, whereby nine companies qualified as operators and five qualified as non-operators. Namibia rolled out an open-door licensing system in 2024 to address its backlog of applications and streamline procedures. The system comes as the country experiences a surge in exploration interest following major discoveries made since 2022. Distributed by APO Group on behalf of African Energy Chamber.
Zawya
10-07-2025
- Business
- Zawya
Organization of the Petroleum Exporting Countries (OPEC) Must Lead the Charge to Reverse Global Fossil Fuel Financing Bans
The African Energy Chamber (AEC) ( – the voice of the African energy sector – is urging OPEC member states and their allies to take decisive action to reverse global bans on fossil fuel financing and champion Africa's right to develop its oil and gas resources. As the 9th OPEC International Seminar convened on Tuesday in Vienna, the Chamber reiterated that it is time to urgently put upstream financing back on the table and push back against policies that deny African nations the capital needed to industrialize, grow and lift millions out of poverty. For too long, Africa has borne the brunt of contradictory global energy policies. While developed nations continue to fast-track public and private investments into natural gas to bolster their own energy security, multilateral institutions enforce blanket bans on upstream oil and gas financing that disproportionately restrict African countries. In 2019, the European Investment Bank announced it would end fossil fuel financing by 2021, a position echoed by several European development agencies and financial institutions. The World Bank followed suit, gradually phasing out support for oil and gas and culminating in a near-total exclusion of upstream fossil fuel investments. While these policies may align with net-zero targets in wealthy economies, in Africa, they are actively obstructing access to energy, job creation and industrial growth. Yet even as development finance dries up abroad, Europe has made clear exceptions for itself. Under its 2022 Taxonomy for Sustainable Activities, the EU classified certain natural gas and nuclear investments as 'transitional' – opening the door for continued funding within its borders. The result is a glaring double standard: natural gas is deemed essential for energy security in Berlin and Brussels, but off-limits in Lagos or Dakar. This hypocrisy must be addressed if the global energy transition is to be just and equitable. Africa holds more than 125 billion barrels of proven oil reserves and over 620 trillion cubic feet of natural gas, yet over 600 million Africans lack access to electricity, and more than 900 million lack access to clean cooking fuels. In this context, African nations need robust investment in oil and gas infrastructure – not ideological restrictions that ignore the realities on the ground. 'What Africa needs right now is to drill, baby, drill. Most of our multilateral institutions don't finance oil and gas – they say it's wrong. It's extremely hypocritical. Denying fossil fuel investment is denying economic justice, food security and a pathway out of poverty for millions,' said NJ Ayuk, Executive Chairman of the AEC. 'We can't keep apologizing for oil. No country in the world has developed through renewables alone. OPEC members must pressure institutions like the World Bank to lift their financing bans and support Africa's right to industrialize.' At the OPEC Seminar, the AEC urged producing countries to rally around three urgent financial priorities. First, OPEC members must press the World Bank and other multilateral institutions to lift harmful financing restrictions on fossil fuels. It is untenable that the World Bank – originally established to support post-war reconstruction and global development – continues to deny funding for upstream oil and gas projects across Africa. With recent signals from Bank leadership hinting at a possible policy shift, now is the time for oil-producing nations to push for a reversal that puts energy access and economic transformation in the Global South at the center of development finance. Second, OPEC countries – with their sovereign wealth funds and surplus revenues – are uniquely positioned to create a dedicated investment vehicle for fossil fuel development in underfunded markets. An OPEC-led facility focused on financing strategic upstream projects could prove instrumental in unlocking capital for bankable ventures across Africa. Such a fund would not only accelerate production but also help stabilize global supply and pricing. Finally, the Chamber emphasizes the need for a pragmatic, dual-track approach to the energy transition that recognizes the differing realities of the Global North and South. While developed nations move toward decarbonization, Africa must prioritize industrialization and energy security. Natural gas – abundant, reliable and cleaner-burning than coal – offers a critical bridge fuel to power fertilizer production, manufacturing, petrochemicals and regional electricity networks. True climate justice must include energy justice, which means recognizing Africa's right to harness its resources, grow its economies and meet the needs of its people on its own terms. Africa does not need charity; it needs capital. As the voice of Africa's energy sector, the Chamber stands firm in its call for OPEC producers and the World Bank to help deliver it. Distributed by APO Group on behalf of African Energy Chamber.
