Latest news with #Gabon
Zawya
3 days ago
- Business
- Zawya
Perenco Chief Executive Officer (CEO) to Outline Asset Optimization, Upcoming Drilling Campaigns at African Energy Week (AEW) 2025
Armel Simondin, CEO of independent oil and gas company Perenco, will showcase the company's strategy to unlock oil and gas resources in West and Central Africa during the African Energy Week (AEW): Invest in African Energies 2025 conference. As a leading producer in markets such as Gabon, the Democratic Republic of Congo (DRC) and the Republic of Congo, the company is well-positioned to discuss the state of play of Africa's exploration and production landscape. Perenco has placed natural gas at the heart of its development strategy. One of the company's biggest projects is the Cap Lopez LNG terminal in Gabon, set to start operations in 2026. The project involves the construction of an LNG terminal at the existing Cap Lopez oil terminal, with an FLNG vessel monetizing offshore gas resources. The FLNG unit – under construction in Dubai – will have a capacity of 700,000 tons LNG and 25,000 tons of LPG per annum, with storage facilities with capacity of 137,000 cubic meters. The $1 billion project made a final investment decision in 2023 and represents Gabon's first large-scale gas development. At AEW: Invest in African Energies 2025, Simondin will provide an update on the project, highlighting the role natural gas is expected to play in West Africa. 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 for more information about this exciting event. Beyond the Cap Lopez LNG terminal, Perenco is advancing LPG deployment in Africa. The company inaugurated the $50 million Batanga LPG plant in Gabon in 2023, producing 15,000 tons of LPG per annum. The project has enabled the country to reduce LPG imports by between 40-50%, with production geared towards the domestic market. The plant also provides feedstock for a 20 MW power plant in Mayumba. In Cameroon, Perenco launched its first-ever gas-to-industry supply project in July 2024. The Bipaga Gas Processing Center utilizes natural gas reserves from the Sanaga South field to supply the Keda tile factory with between 3.5 million and 6.5 million cubic feet of gas per day. Gas is transported via a 6-km pipeline, powering the factory's electrical generators and kilns. The milestone follows Perenco's acquisition of a 9.9% stake in Golar LNG, which operates the Cameroon FLNG terminal. Meanwhile, with a focus on shallow and marginal fields, Perenco is driving a series of offshore oil projects in Africa, with plans to expand its portfolio of producing assets. The company is ramping up drilling activities in the Republic of Congo, with plans to increase output to 100,000 barrels per day (bpd). From mid-2025, Perenco will operate two to three rigs in the country for a period of two years, focusing on assets such as Tchibouela-Est, Masseko, Emeraude and Marine XXVII. The company is targeting new field developments, surface optimizations and continuous infrastructure improvements in the country. The company is also accelerating drilling activities in the DRC. At present, Perenco is the only major oil producer in the country and seeks to optimize assets and bolster production. Through its DRC subsidiary Muanda International Oil Company, the company made an oil discovery during an offshore drilling campaign in the DRC in 2024. The discovery signals the first offshore find made in the country in nearly three decades. The Moke-East well - situated between the Lukami and Motoba fields - encountered a 24-feet net oil-bearing column. Additionally, in Gabon, the company spud an appraisal well near the Hylia South West discovery – made in 2023 – in February 2024. The well targets the Ntchengue Ocean (NTO) reservoir and lower Madiela carbonate reservoir, with results showing substantial oil-bearing columns in the NTO reservoir. Simondin's participation at AEW: Invest in African Energies 2025 will not only provide an overview of the company's vision for Africa's oil and gas market but showcase the instrumental role independent operators are playing across the continent's hydrocarbon markets. From project updates to future investments to challenges and emerging opportunities, Simondin's insights will support discussions around Africa's oil and gas future. 'Perenco is making significant strides towards unlocking new oil and gas plays in Africa. Through its rich portfolio of natural gas projects and oil exploration and production, the company is creating lucrative opportunities for the countries in which it operates. This portfolio not only showcases the value of independent operators in Africa but highlights the level of opportunity available across the continent,' states NJ Ayuk, Executive Chairman, African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber.
Arab News
3 days ago
- Business
- Arab News
Power outage hits Gabonese capital
SEEG said it had managed to restore power to around half of its customers in the capitalFor several months last year, electricity supply was disrupted due to significant infrastructure problemsLIBERVILLE: Gabon's capital Libreville was without electricity for several hours Wednesday following a 'major technical incident,' the national energy supplier early morning power outage 'resulted in the loss of all production facilities in the Libreville Interconnected Network (RIC),' the Gabonese Water and Energy Company (SEEG) said without giving further said it had managed to restore power to around half of its customers in the capital 'by early morning,' adding its teams were working to find and analyze the fault, which AFP reporters said also cut Internet and mobile phone Monday, the Gabonese presidency had announced the end of an interim administration of SEEG started in August on the back of a slew of supply of Wednesday, 'management of SEEG will be fully transferred' and it will return to its majority shareholder, the Gabonese Strategic Investment Fund (FGIS), the company several months last year, electricity supply was disrupted due to significant infrastructure problems.A rotating load shedding system was established leading to supply cuts in entire neighborhoods for hours at a time, to enable power supply for other parts of the city.A protocol signed between the Gabonese government and Turkish firm Karpowership for supply of 70 megawatts via two floating power plants to cover greater Libreville saw the situation improve in recent the network is a top priority for Gabon's leader Brice Oligui Nguema, a general who overthrew the Bongo dynasty and won 94.85 percent of the vote in April's election, 19 months on from his August 2023 this month he vowed to provide 'universal access' to drinking water and electricity.
Zawya
3 days ago
- Business
- Zawya
The African Development Bank approves an investment of US$100 million in Arise Integrated Industrial Platforms Limited.
The Board of Directors of the African Development Bank ( has approved an investment of $100 million in the industrial platform developer and operator Arise Integrated Industrial Platforms Ltd (Arise IIP) to contribute to funding industrial parks and special economic zones across Africa as a part of our industrialization strategic priority and flagship Special Agro-Industrial Processing Zones (SAPZ). The industrial platforms developed and operated by Arise IIP are primarily dedicated to supporting the transformation of key agricultural and industrial value chains in African countries that are leading global suppliers of raw commodities but have limited local processing capabilities. The platforms will provide developed industrial land, shared infrastructure and utilities, good export connectivity and simplified administrative procedures to agro-industrial tenants, allowing them to relocate global supply chains and value addition within African countries, while contributing to the reduction of carbon footprint of trade flows. Arise IIP seeks to replicate its successful industrial platform implementation experience in Gabon, Togo and Benin by establishing Special Economic Zones across other African countries with the aim of improving Africa's export competitiveness and intra-Africa trade strategies. ' There is economic and social value to be added to African-grown commodities like timber, cashew, cocoa and cotton when they are processed locally instead of being exported in raw form. Through programs like the African Development Bank's Special Agro-Industrial Processing Zones and investments in Zones partner companies like Arise IIP, we enable transformative, private sector-led agro-industrialization that boosts local processing of commodities, creates jobs and grows rural economies,' said Dr. Beth Dunford, the African Development Bank's Vice President for Agriculture, Human and Social Development. Based on Arise IIP's existing portfolio in Gabon (Gabon Special Economic Zone - GSEZ), Benin (Glo Djigbe Industrial Zone - GDIZ) and Togo (Plateforme Industrielle d'Adetikope - PIA), it is estimated that over 400 companies have been on-boarded from 47 industry sectors, which has led to the creation of over 50,000 jobs. The dominant sectors include wood, glass, soya, cashew processing, cotton processing and textiles, ceramics, beverages, pharmaceuticals and meat processing. It is also estimated that over $7 billion has been mobilized by tenant companies within the existing zones. ' This investment in ARISE IIP is a signal of the Bank's commitment to scaling up industrialization in Africa in value chains where we are competitive. This is also a demonstration of the strategic partnership we have with African MFIs such as the Africa Finance Corporation (AFC) and the Fund for Export Development in Africa (FEDA), the Afreximbank's equity impact investment arm, who are the principal equity investors in ARISE IIP. This is a good demonstration of our joint goals of making Africa's capital work better for Africa's development ', said Solomon Quaynor, African Development Bank's Vice President for Private Sector, Infrastructure and Industrialization. Gagan Gupta, CEO of Arise IIP, remarked, " The African Development Bank's investment highlights their confidence in our model as a driver of Africa's industrial growth. We are excited to strengthen our efforts in transforming local value chains, creating jobs, and supporting sustainable economic development across the continent. The dedication, vision, and hard work of the entire Arise team have been instrumental in building this partnership." Distributed by APO Group on behalf of African Development Bank Group (AfDB). Media contacts: Alexis Adélé Communication and External Relations Department media@ For Arise IIP: Audrey Mebaley Global Head of Communications Arise IIP About the African Development Bank Group: The African Development Bank Group (AfDB) is the premier multilateral financing institution dedicated to Africa's development. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NSF). The AfDB has a field presence in 41 African countries, with an external office in Japan, and contributes to the economic developm ent and social progress of its 54 regional member states. For more information: About Arise IIP: ARISE Integrated Industrial Platforms (ARISE IIP) is a pan-African developer and operator of world-class industrial parks committed to making Africa thrive. Arise IIP identifies opportunities in commercial and industrial value chains across Africa, and conceives, finances, builds and operates the necessary infrastructure, playing a catalytic role in supporting countries to transition to an industrial economy. Arise IIP is driven by the pursuit of green growth, with an ambition to unlock the continent's industrial potential while neutralizing carbon emissions and climate impact. (Website:
Zawya
4 days ago
- Business
- Zawya
Panoro Energy Chief Executive Officer (CEO) to Outline Infrastructure-Led Exploration at African Energy Week (AEW) 2025
John Hamilton, CEO of independent exploration and production company Panoro Energy, has joined the African Energy Week (AEW): Invest in African Energies 2025 conference - taking place September 29 to October 3 in Cape Town - to discuss strategies for advancing exploration in Africa. With stakes in various strategic blocks in Gabon, Equatorial Guinea, South Africa and Tunisia, the company is well-positioned to share insights into West and Central Africa's upstream landscape. Panoro Energy kicked off 2025 with an oil discovery at the Bourdon prospect on the Dussafu block, situated offshore Gabon. The well encountered approximately 34 m of net oil play in a 45 m oil column in the Gamba reservoir, with an appraisal well side-track confirming an additional 11 m of net oil play. Representing the largest hydrocarbon column found to date at Dussafu, the discovery supports estimates of around 56 million barrels of oil in place. Of this, 25 million barrels are considered recoverable. At AEW: Invest in African Energies 2025, Hamilton is expected to share insight into this discovery and its impact on the broader oil and gas landscape in Gabon. 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 for more information about this exciting event. Beyond Gabon, Panoro Energy has stakes in the Ceiba field and Okume Complex, situated in Equatorial Guinea's Block G. In 2024, Block G operator Trident Energy – alongside its partners Panoro Energy, Kosmos Energy and GEPetrol – brought online the C-45 infill well at the Ceiba field. The well came online in October and was the first of two infill wells drilled a the Ceiba field and Okume Complex. The second well, OF-19, was drilled during the same period. The drilling program aligns with efforts by the block partners to unlock greater value from Equatorial Guinea's mid-life assets. Meanwhile, Panoro Energy is also striving to develop Africa's natural gas reserves. The company was awarded a 100% interest in Technical Cooperation Permit (TCP) 218 in South Africa, situated in the onshore northern Free State province. TCP 218 lies in the prospective Northern Karoo Basin, which boasts a proven natural gas and helium system. The asset is also situated in close proximity to the producing Virginia gas field. In 2024, Panoro Energy applied to secure an exploration right for helium and natural gas in the Karoo Basin. The application involves a three-year exploration work program and builds on preliminary studies conducted as part of the technical cooperation permit granted in 2022. The Karoo Basin boasts some of the world's highest concentrations of helium ever recorded, and with a proven gas system, holds significant potential for gas discoveries. During AEW: Invest in African Energies 2025, Hamilton is expected to provide an update on ongoing exploration and production campaigns across the continent. Through his participation in panel discussions, Hamilton is set to share insight into various key topics, including the role independent exploration and production companies play in Africa; strategies for unlocking frontier basins such as Karoo; and the value of partnerships in monetizing the continent's oil and gas resources. 'With interests in various strategic blocks in West and Central Africa, Panoro Energy is targeting greater production through infrastructure-led exploration. Working closely with national oil companies and international operators, the company continues to unlock significant value from offshore oil and gas assets. The company is a strong example of the role independent exploration and production firms play in Africa,' states Tomás Gerbasio, VP Commercial and Strategic Engagement, African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber.
Yahoo
4 days ago
- Business
- Yahoo
BW Energy: Annual General Meeting 2025
Annual General Meeting 2025 - Minutes The Annual General Meeting 2025 of BW Energy Limited was held today. Please see the attached document for the minutes of the meeting. For further information, please contact: Brice Morlot, CFO BW Energy +33.7.81.11.41.16 ir@ BW Energy BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company's assets are 73.5% of the producing Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block, a 95% interest in the Maromba field in Brazil, a 95% interest in the Kudu field in Namibia, all operated by BW Energy. In addition, BW Energy holds approximately 6.6% of the common shares in Reconnaissance Energy Africa Ltd. and a 20% non-operating interest in the onshore Petroleum Exploration License 73 ("PEL 73") in Namibia. Total net 2P+2C reserves and resources were 599 million barrels of oil equivalent at the start of 2025. This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act Attachment Minutes of AGM - May 2025Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
