Latest news with #MinistryOfOilAndGas
Zawya
5 days ago
- Business
- Zawya
The African Energy Chamber (AEC) Partners with Libya's Ministry of Oil and Gas to Advance Youth Empowerment Through Energy Jeel Initiative
The African Energy Chamber (AEC) ( – representing the voice of the African energy sector – has entered a strategic partnership with the Ministry of Oil and Gas of Libya to support the Energy Jeel Initiative. Designed to equip young Libyans with the skills, knowledge and leadership capabilities to actively participate in the future of the energy sector, the program forms part of Libya's vision to harness human capital for a just and inclusive energy transition across Africa. The collaboration will promote youth skills development, innovation, entrepreneurship and gender inclusion in the energy workforce, while strengthening Libya's integration into Africa's energy community. The AEC will work closely with the Ministry to facilitate on-the-job training and internships; host joint ventures, workshops and youth summits; provide visibility and endorsement through AEC platforms and publications; and enable access to Africa's vast energy networks. By investing in youth-led growth, the Energy Jeel Initiative will help address critical challenges in Africa's energy future – including energy poverty, workforce gaps and the need for greater regional collaboration. With over 600 million Africans lacking access to electricity and 900 million still reliant on traditional biomass for cooking, Africa's oil, gas and renewable energy resources pose a strong opportunity to drive industrialization. Building a skilled and inclusive workforce is key to cultivating this sustainable development. Libya's energy sector offers vast potential for both fossil fuel and renewable energy development. With significant oil and gas reserves, alongside world-class solar and wind resources, the country is uniquely positioned to play a major role in Africa's energy security and transition. Through the Energy Jeel Initiative, the Ministry of Oil and Gas aims to ensure that this development benefits all segments of society, particularly young people and women. The Energy Jeel Initiative also stands to benefit from Libya's renewed upstream momentum, with recent developments such as ExxonMobil's MoU with the country's National Oil Corporation signaling fresh investment and exploration activity. As global players re-engage with Libya's oil and gas sector, the Initiative will equip young professionals with the technical skills and industry knowledge they need to participate in and lead future projects. This alignment ensures Libya's youth are directly connected to the country's expanding role in Africa's energy landscape. 'The Chamber is committed to empowering Africa's youth to become active participants in the continent's energy future,' states NJ Ayuk, Executive Chairman, AEC, adding, 'Libya's Energy Jeel Initiative is a model for how African nations can prepare the next generation of leaders and innovators who will drive investment, create jobs and deliver real solutions to energy poverty.' As the Energy Jeel Initiative rolls out, the AEC and the Ministry will focus on creating opportunities that link Libyan youth with regional and global stakeholders, ensuring they are not only prepared for the jobs of today, but also equipped to lead Africa's energy sector into the future. Distributed by APO Group on behalf of African Energy Chamber.
Zawya
08-07-2025
- Business
- Zawya
Gabon Oil & Gas Minister Joins African Energy Week (AEW) 2025 Amid Drive to Develop Deepwater Assets
Sosthène Nguema Nguema, Minister of Oil&Gas of Gabon, has joined the African Energy Week (AEW): Invest in African Energies conference to discuss the country's strategic shift towards deepwater exploration. Taking place September 29 to October 3 in Cape Town, the event represents the largest of its kind on the continent and serves as the platform of choice for global operators, financiers and service providers. Minister Nguema's participation reflects the country's drive to work with global partners to unlock greater value from Gabon's oil and gas sector and is expected to create new opportunities for collaboration and investment. With over two billion barrels of proven oil reserves and significant gas potential, Gabon seeks to increase national oil production to upwards of 220,000 barrels per day (bpd) in the short to medium term. To achieve this goal, the country is promoting fresh investment across undeveloped acreage, notably deepwater basins, which offer significant upside potential. Deepwater exploration and production will not only generate significant returns for operators but support the country's economic growth objectives. To entice deepwater investment, Ministry of Oil&Gas is leveraging policy reform to create a more competitive business environment for foreign operators. Following the implementation of the Hydrocarbon Code in 2019, the new government has sought to strengthen fiscal terms and regulations even further. Upcoming amendments are geared towards foreign capital and will significantly improve Gabon's business climate. 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 new investments, Gabon continues to drive a series of ambitious oil and gas projects. At the forefront of this is independent energy company Perenco's Cap Lopez LNG terminal – situated at the existing Cap Lopez oil terminal. The $2 billion development will introduce a FLNG vessel to the market, designed to monetize the country's offshore gas reserves and reduce gas flaring. The FLNG unit features 700,000 tons of LNG and 25,000 tons of LPG, with storage capacity of 137,000 cubic meters. Production is slated for 2026, setting the country up for accelerated energy growth and diversification. Beyond Cap Lopez, Perenco's Gabonese projects seek to bolster national oil and gas production. The company continues to expand its upstream footprint with the commissioning of the Kombi 2 platform on the Kombi- -Likalala-Libondo II permit. Currently under construction by Dixstone at the Nieuwdorp shipyard in the Netherlands, the platform is scheduled to depart in October and enter into operation offshore Pointe-Noire by early next year. In addition to Perenco, other companies are also driving ambitious projects. Notably, BW Energy signed production sharing contracts for exploration blocks Niosi Marin and Guduma Marin in 2024, covering an eight-year exploration period with a two-year extension option. The company – alongside its partner VAALCO Energy – plans to spud a well while carrying out a 3D seismic campaign. BW Energy also has stakes in the Dussafu license, which features 14 producing wells tied back to a FPSO through a 20km pipeline. Meanwhile, China's CNOOC launched wildcat drilling on Blocks BC-9 and BCD-10 in early-2023 on the back of 1.4 billion barrels of recoverable resource potential. The state-owned Gabon Oil Company (GOC) is also ramping up its investments. The company acquired Tullow Oil's entire Gabonese portfolio for a sum of $300 million, a transaction that includes 10,000 bpd in production and 36 million barrels of proven reserves. GOC is committed to enhancing oil production through partnerships with international operators and strategic investments in exploration and production. Minister Nguema's participation at AEW: Invest in African Energies 2025 will serve to advance the country's oil and gas industry goals. During the event, he is expected to share insights into the country's exploration and production landscape, highlighting upcoming investment opportunities and areas of collaboration. Through his participation, operators will gain first-hand insight into the country's oil and gas sector. 'Gabon is implementing a strategic development agenda, aimed at unlocking greater resources from the country's oil and gas industry. By focusing on deepwater acreage, working closely with international partners and committing to enhanced production flows, the country is creating a wealth of opportunities for both companies and entrepreneurs,' states Verner Ayukegba, Senior Vice Price President, African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber.
