Latest news with #Welligence
Zawya
30-05-2025
- Business
- Zawya
Welligence Webinar Highlights Strong Investment Forecast for African Oil & Gas Sector
Africa's oil and gas sector is expected to witness strong investment flows in the coming years, speakers said during a webinar organized by energy analytics company Welligence. While global energy majors are expected to reduce their funding – prioritizing high-return projects and strategic assets - independent and national oil companies are rapidly expanding their portfolios, breathing new life into mature fields. These investment trends are attributed to a variety of factors, including reduced global spending for oil and gas projects, restructured portfolios and improved operating climates across the continent. According to Temitope Malomo, Senior Analyst, sub-Saharan Africa, Welligence Energy Analytics, the continent is also witnessing a shift by the majors from onshore and shallow water acreage to deepwater and ultra-deepwater basins, with independents stepping in to sustain – and sometimes increase – production. 'The majors have been very active divesting their mature assets. Independents have been responsible for picking up these reserves. However, even with this momentum in M&A activity driven by independents, it's important to note that long-term investments will continue to be driven by the majors. Examples include the Eni-operated Baleine project in Ivory Coast and TotalEnergies-operated Venus project in Namibia,' he stated. Titled Upstream Investment – The new wave of capital heading to sub-Saharan Africa, the webinar drew attention to the driving factors behind Africa's anticipated surge in upstream financing. NJ Ayuk, Executive Chairman of the African Energy Chamber (AEC), engaged in a conversation with Ross Lubetkin, CEO of Welligence Energy Analytics, on this topic, highlighting the role regulatory reform has played in attracting foreign capital. 'There is a change when you look at global investments coming into Africa and part of that has been the change in the U.S. administration. But African governments have also done a lot. They have realized that they are not competing among themselves; they are competing with Guyana, America and other international countries. They have improved approval timelines, fiscals and even the licensing process has been streamlined in many countries. But there is still a lot of work to be done,' Ayuk said. Ayuk shared insight into the regulatory advancements seen across the continent. These include Nigeria, which implemented its Petroleum Industry Act to entice investment; Angola, which has significantly improved its fiscals and licensing procedures; and the Republic of Congo, which is working towards a Gas Master Plan and new Gas Code. By strengthening their respective business environments, countries across the continent are making a strong case for foreign investment. 'When you open up the market, investors gain confidence. They move in and you see a lot of activity. If you reform, change and do it right, money will flow. This nationalization approach doesn't work. It keeps us behind. International companies invest, they create jobs, they bring taxes. Whose benefit is that? It's ours,' Ayuk added. Looking ahead, the continent is expected to witness a series of final investment decisions (FID) in the coming years, as companies work to unlock new hydrocarbon plays in both established and emerging markets. 'We have seen upward budget revisions for some independents, but for the majors, budgets are down about 5% year-on-year. This does not mean that companies will not progress new projects; but only the best projects will advance. Companies will be looking closely at their respective pre-FID portfolios. We see deepwater and LNG projects dominating that picture. There is a decent pipeline of projects in sub-Saharan Africa that we expect to progress in the coming months,' stated Obo Odornigie, SVP: Energy Trends&Analytics, Welligence Energy Analytics. Distributed by APO Group on behalf of African Energy Chamber.
Mid East Info
24-04-2025
- Business
- Mid East Info
Welligence to Partner with UAE's NextGen FDI Initiative to Provide Cutting-Edge Data to Energy Sector - Middle East Business News and Information
Welligence is a leading data analytics provider for energy firms, that promotes the energy transition in the oil and gas sector using advanced data science. HE Al Zeyoudi: 'Welligence will strengthen the UAE's innovative energy sector and contribute to the digital transformation of this space, cementing our position as a global leader in the technology and energy spaces. Their presence will contribute to accelerating the digital transformation in the energy sector.' Ross Lubetkin: 'We are delighted to open our regional hub in the UAE and beyond grateful for the country's support.' Abu Dhabi, UAE: The Ministry of Economy has announced that Welligence, a US-based data analytics provider for the energy sector, has joined its NextGen FDI initiative in a move that will strengthen its' presence in the region and will now establish an office in Abu Dhabi for its sales, research, and consulting teams. The US-based software company will also examine the potential to build out a tech team in the UAE, underlining the NextGen FDI initiative's role in supporting the development of future-focused industries. Founded in 2017, Welligence aims to provide innovative solutions accelerated by AI, by efficiently screening and identifying opportunities, benchmarking competitors' portfolios, evaluating economic impacts of GHG emissions, and building credible commercial asset valuations. Their platform provides granular information on energy projects in 193 countries. Welligence has offices in 10 cities around the world and the UAE represents its first foray into the Middle East. HE Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, says Welligence's decision to expand into the UAE is a clear demonstration of the nation's welcoming ecosystem for high-tech firms and pro-business environment. 'Welligence is precisely the kind of cutting-edge enterprise the NextGen FDI initiative was created to attract. Their expertise in leveraging AI and machine learning to empower decision-making will significantly contribute to promoting both the energy and advanced technology sectors in the UAE. By building a strong presence in the market, including the establishment of research and technology teams, Welligence will also support our pursuit of a knowledge-driven economy.' Ross Lubetkin, Welligence's Chief Executive Officer, stated: 'Opening our regional hub in the United Arab Emirates marks a transformational milestone in our journey. The UAE has firmly established itself at the forefront of global energy innovation, especially when it comes to cutting-edge technology and strategic energy investments. With Welligence's energy research vision driven by our technological edge, there's no better partner than the UAE. We are beyond excited to build our future together and are grateful to the Ministry of Economy for its support.' Launched in 2022, the NextGen FDI initiative is a key pillar of the UAE's drive to diversify its' economy and position itself as a global hub for innovation. To date, the initiative has welcomed over 90 companies operating in future-focused sectors such as AI, renewable energy, robotics, and advanced manufacturing.
Al Etihad
23-04-2025
- Business
- Al Etihad
Welligence to partner with UAE's NextGen FDI Initiative to provide cutting-edge data to energy sector
23 Apr 2025 17:48 ABU DHABI (ALETIHAD)The UAE Ministry of Economy has announced that Welligence, a US-based data analytics provider for the energy sector, has joined its NextGen FDI initiative in a move that will strengthen its presence in the will now establish an office in Abu Dhabi for its sales, research, and consulting teams. The US-based software company will also examine the potential to build out a tech team in the UAE, underlining the NextGen FDI initiative's role in supporting the development of future-focused in 2017, Welligence aims to provide innovative solutions accelerated by AI, by efficiently screening and identifying opportunities, benchmarking competitors' portfolios, evaluating economic impacts of GHG emissions, and building credible commercial asset valuations. Their platform provides granular information on energy projects in 193 countries. Welligence has offices in 10 cities around the world and the UAE represents its first foray into the Middle Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, says Welligence's decision to expand into the UAE is a clear demonstration of the nation's welcoming ecosystem for high-tech firms and pro-business environment.'Welligence is precisely the kind of cutting-edge enterprise the NextGen FDI initiative was created to attract. Their expertise in leveraging AI and machine learning to empower decision-making will significantly contribute to promoting both the energy and advanced technology sectors in the UAE. By building a strong presence in the market, including the establishment of research and technology teams, Welligence will also support our pursuit of a knowledge-driven economy.'Ross Lubetkin, Welligence's Chief Executive Officer, stated: 'Opening our regional hub in the United Arab Emirates marks a transformational milestone in our journey. The UAE has firmly established itself at the forefront of global energy innovation, especially when it comes to cutting-edge technology and strategic energy investments. With Welligence's energy research vision driven by our technological edge, there's no better partner than the UAE. We are beyond excited to build our future together and are grateful to the Ministry of Economy for its support.' Launched in 2022, the NextGen FDI initiative is a key pillar of the UAE's drive to diversify its' economy and position itself as a global hub for innovation. To date, the initiative has welcomed over 90 companies operating in future-focused sectors such as AI, renewable energy, robotics, and advanced manufacturing.
Zawya
23-04-2025
- Business
- Zawya
Welligence to partner with UAE's NextGen FDI Initiative to provide cutting-edge data to energy sector
HE Al Zeyoudi: 'Welligence will strengthen the UAE's innovative energy sector and contribute to the digital transformation of this space, cementing our position as a global leader in the technology and energy spaces. Their presence will contribute to accelerating the digital transformation in the energy sector.' Ross Lubetkin: 'We are delighted to open our regional hub in the UAE and beyond grateful for the country's support.' Abu Dhabi, UAE: The Ministry of Economy has announced that Welligence, a US-based data analytics provider for the energy sector, has joined its NextGen FDI initiative in a move that will strengthen its' presence in the region and will now establish an office in Abu Dhabi for its sales, research, and consulting teams. The US-based software company will also examine the potential to build out a tech team in the UAE, underlining the NextGen FDI initiative's role in supporting the development of future-focused industries. Founded in 2017, Welligence aims to provide innovative solutions accelerated by AI, by efficiently screening and identifying opportunities, benchmarking competitors' portfolios, evaluating economic impacts of GHG emissions, and building credible commercial asset valuations. Their platform provides granular information on energy projects in 193 countries. Welligence has offices in 10 cities around the world and the UAE represents its first foray into the Middle East. HE Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, says Welligence's decision to expand into the UAE is a clear demonstration of the nation's welcoming ecosystem for high-tech firms and pro-business environment. 'Welligence is precisely the kind of cutting-edge enterprise the NextGen FDI initiative was created to attract. Their expertise in leveraging AI and machine learning to empower decision-making will significantly contribute to promoting both the energy and advanced technology sectors in the UAE. By building a strong presence in the market, including the establishment of research and technology teams, Welligence will also support our pursuit of a knowledge-driven economy.' Ross Lubetkin, Welligence's Chief Executive Officer, stated: 'Opening our regional hub in the United Arab Emirates marks a transformational milestone in our journey. The UAE has firmly established itself at the forefront of global energy innovation, especially when it comes to cutting-edge technology and strategic energy investments. With Welligence's energy research vision driven by our technological edge, there's no better partner than the UAE. We are beyond excited to build our future together and are grateful to the Ministry of Economy for its support.' Launched in 2022, the NextGen FDI initiative is a key pillar of the UAE's drive to diversify its' economy and position itself as a global hub for innovation. To date, the initiative has welcomed over 90 companies operating in future-focused sectors such as AI, renewable energy, robotics, and advanced manufacturing.
Zawya
01-04-2025
- Business
- Zawya
The U.S.-Africa Energy Forum (USAEF) Partners with Welligence to Empower United States (U.S.) Investors in Africa's Energy Landscape
The U.S.-Africa Energy Forum (USAEF) is proud to announce its strategic partnership with Welligence, a leading provider of energy research and advisory services, to connect U.S. investors with Africa's most promising energy opportunities. As a trusted advisor with deep expertise in African energy markets, Welligence brings its extensive knowledge of the continent's oil, gas and LNG sectors to support U.S. companies in navigating Africa's evolving energy landscape. The partnership reinforces USAEF's mission to facilitate high-value engagements between American stakeholders and African energy leaders, while also cementing its position as a data-driven event. Welligence has a strong presence in Africa, providing critical insights and data on oil and gas reserves and infrastructure developments across key African markets. Their research and advisory work have supported numerous energy projects, helping investors assess risk, identify opportunities and optimize investment strategies. With a focus on providing accurate and actionable intelligence, Welligence's partnership with USAEF will ensure U.S. investors have the information and connections they need to make informed decisions about Africa's dynamic energy sector. Data-driven exploration has become a central element in Africa's energy transformation. By using advanced seismic data, exploration techniques and predictive modeling, Africa's leading exploration markets are enhancing their ability to identify untapped reserves and yield new discoveries. In 2025, Angola is launching a limited public tender featuring 10 offshore blocks in the Kwanza and Benguela basins, with the National Agency for Oil, Gas&Biofuels committed to strengthening sub-surface data across both mature and frontier fields through additional 2D and 3D seismic data. Serving as Africa's largest crude oil producer, Libya recently launched its 2025 bid round covering 22 on- and offshore concessions across the Murzuq and Ghadames basins. The Republic of Congo is similarly expanding its licensing opportunities with promising exploration areas in its coastal basin. These licensing rounds and more will be a core feature of USAEF, which will showcase the latest data-driven exploration developments and foster strategic partnerships in Africa's growing energy sector. In its 2024 exploration roundup, Welligence highlighted several key upstream developments in sub-Saharan Africa, including Namibia's Mopane discovery, the largest of the year, which requires further appraisal drilling to refine its liquid-to-gas split. Other notable discoveries include the Calao discovery in Ivory Coast – estimated at around 500 million barrels of oil equivalent – and Enigma and Mangetti in Namibia, both of which are under 500 million barrels and require further appraisal drilling. According to Welligence, additional developments to watch include TotalEnergies' Niamou Marine-1 exploration well offshore Congo, ExxonMobil's Arcturus wildcat in the deepwater Namibe Basin in Angola, and Apus Energy's Atum prospect in deepwater Guinea-Bissau. USAEF serves as the leading platform for driving U.S.-Africa energy investment, connecting American investors with high-growth opportunities across the continent. Through this collaboration, USAEF and Welligence will provide unparalleled access to critical energy projects, from oil and gas exploration to large-scale renewable initiatives. As global energy strategies evolve, Welligence's expertise will be key in guiding U.S. companies toward impactful, profitable projects within Africa's dynamic energy landscape. 'Welligence's extensive knowledge of Africa's energy markets and its role in providing strategic insights aligns perfectly with USAEF's goal to bridge the gap between U.S. investors and Africa's growing energy opportunities,' said James Chester, CEO of Energy Capital&Power. 'This partnership ensures that American stakeholders are well-positioned to tap into Africa's energy potential and contribute to the continent's ongoing energy transformation.' Distributed by APO Group on behalf of Energy Capital&Power. The U.S. Africa forum, taking place in Houston on 6-7 August, will gather investors, government representatives and project developers to facilitate dialogue, exchange of information and closer contacts. For tickets, sponsorship opportunities and more information, please contact sales@ Join us in Houston this August to connect with the leaders shaping Africa's energy landscape and experience the momentum that drives ECP's events worldwide.
