Latest news with #InvestinAfricanEnergy2025Forum
Zawya
06-02-2025
- Business
- Zawya
GEPetrol Chief Executive Officer (CEO) to Speak at Invest in African Energy (IAE) 2025 as Equatorial Guinea Advances Oil Production Revitalization
Bienvenido Nguema Envo, CEO of Equatorial Guinea's national oil company (NOC) GEPetrol, is confirmed as a speaker at the Invest in African Energy 2025 Forum in Paris. Nguema Envo will offer insights into Equatorial Guinea's strategic initiatives aimed at revitalizing the country's oil production and expanding its energy sector. GEPetrol is advancing several key exploration and development initiatives, with a focus on offshore fields and attracting new investments through recently signed PSCs. In November, GEPetrol partnered with Panoro Energy to sign a PSC for Block EG-23, marking Panoro's second operated asset in the country. Previously operated by Marathon Oil, the block has seen 19 wells drilled and is estimated to contain 104 million barrels of oil and condensate, along with 215 billion cubic feet of gas. During the initial three-year term, the partners will concentrate on subsurface studies to assess the block's prospectivity, with the option to extend for an additional two years to drill an exploration well. IAE 2025 ( is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit To sponsor or participate as a delegate, please contact sales@ The NOC is focused on boosting production capacity through the development of key assets, including the Zafiro field and Ceiba and Okume Complez. The Zafiro field, Equatorial Guinea's largest, is at the heart of revitalization efforts following GEPetrol's takeover of operatorship from ExxonMobil in June 2024. That same month, GEPetrol signed two PSCs with Chevron for offshore Blocks EG-06 and EG-11. Located near the producing Block B, these highly prospective assets are expected to reinvigorate the country's exploration and production activities. The agreements include comprehensive development plans that outline minimum investments, exploration programs, sustainability initiatives and state benefits, representing a strategic move to counter the recent decline in oil output caused by aging fields and underinvestment in untapped resources. As these initiatives progress, GEPetrol aims to solidify Equatorial Guinea's position as one of Africa's leading oil producers while driving output growth. The company's focus on enhancing operational efficiency, leveraging advanced technologies and attracting new investment will be crucial in unlocking the full potential of the country's hydrocarbon resources. Distributed by APO Group on behalf of Energy Capital&Power.
Zawya
06-02-2025
- Business
- Zawya
Oando's Expansion in Africa's Energy Sector to Take Center Stage at Invest in African Energy (IAE) 2025 in Paris
Wale Tinubu, Group Chief Executive Officer will speak at the Invest in African Energy 2025 Forum in Paris this May. As one of Africa's largest indigenous energy companies, Oando is experiencing significant growth, driven by its landmark acquisition of Eni's Nigerian subsidiary last year and its recent expansion into Angola. In August 2024, Oando finalized the acquisition of a 100% shareholding in the Nigerian Agip Oil Company (NAOC) from Eni for $783 million. This strategic move increased Oando's participating interests in OMLs 60, 61, 62 and 63 from 20% to 40%, effectively doubling the company's total reserves to approximately one billion barrels of oil equivalent. With plans to scale production to 100,000 barrels per day by 2028, the acquisition solidifies Oando's position as a key player in Nigeria's upstream sector. IAE 2025 ( is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit To sponsor or participate as a delegate, please contact sales@ Oando continues to strengthen its presence across Africa with a significant milestone in Angola. Through its upstream subsidiary, Oando Energy Resources (OER), the company has been awarded operatorship of Block KON 13 in the onshore Kwanza Basin. Following a competitive bidding process organized by Angola's National Agency for Petroleum, Gas and Biofuels, OER now holds a 45% participating interest and will lead the block's development in partnership with Effimax and Sonangol. Strategically located in the prolific Kwanza Basin, Block KON 13 offers substantial exploration potential in both pre-salt and post-salt plays, with estimated prospective resources ranging between 770 million and 1.1 billion barrels of oil. Two exploration wells previously drilled to a depth of 3,000 meters have indicated the presence of oil and gas across various intervals. In addition to expanding its asset base, Oando is integrating artificial intelligence (AI) into its drilling operations to enhance efficiency and decision-making. By leveraging AI, the company aims to optimize resource utilization and improve performance in upcoming projects. This initiative reflects Oando's commitment to adopting innovative technologies to maintain its leadership in the energy sector. Distributed by APO Group on behalf of Energy Capital&Power.
