Latest news with #upstream
Zawya
3 days ago
- Business
- Zawya
Oando PLC's Cross-Border Expansion to be Spotlighted at African Energy Week (AEW) 2025
Following a transformative year marked by a landmark Nigerian acquisition and entry into Angola's upstream sector, Jubril Adewale Tinubu, CON., Group Chief Executive, Oando PLC will speak at African Energy Week (AEW) 2025: Invest in African Energies in Cape Town. Tinubu will share insights into how Oando PLC is scaling its operations across Africa while maintaining strategic discipline and positioning itself as a key player in the continent's evolving energy landscape. In August 2024, Oando PLC finalized its $783 million acquisition of the Nigerian Agip Oil Company from Eni – a move that increased Oando's participating interests in four onshore oil mining leases (OMLs 60, 61, 62, and 63) from 20% to 40%. This deal nearly doubled the company's reserve base to an estimated one billion barrels of oil equivalent, while enhancing its operational footprint and infrastructure portfolio in Nigeria. With an ambitious target to scale production to 100,000 barrels per day by 2028, the acquisition solidifies Oando PLC's position as a dominant force in Nigeria's upstream sector. Meanwhile, Oando PLC is advancing its continental growth strategy through its upstream subsidiary, Oando Energy Resources (OER), which was recently awarded operatorship of Block KON 13 in Angola's onshore Kwanza Basin. Secured through a competitive bidding process led by Angola's National Agency for Petroleum, Gas and Biofuels, the block carries estimated prospective resources of 770 million to 1.1 billion barrels. OER holds a 45% participating interest and will lead the block's development in partnership with Effimax and Sonangol. This marks a significant milestone for the company as it enters Angola's upstream market for the first time and reinforces its long-term vision of regional integration. In addition to its African ventures, Oando PLC was recently named preferred bidder for the Petrotrin refinery lease in Trinidad and Tobago, underscoring its strategy to diversify globally while reinforcing its vertically integrated business model. The refinery opportunity aligns with Oando's broader goals of expanding refining capacity, improving energy security and maximizing value across the supply chain. 'Oando PLC represents the kind of bold, forward-looking leadership that Africa's energy sector needs. Their strategic expansion into markets like Angola, coupled with a commitment to innovation and integration, sets a powerful example of what indigenous companies can achieve. We're proud to welcome Wale Tinubu to AEW 2025 as we continue driving investment and collaboration across the continent,' states Ore' Onagbesan, Program Director for AEW. At AEW 2025: Invest in African Energies, Tinubu will engage with policymakers, investors and industry leaders to outline Oando's vision for responsible, return-driven growth across Africa and beyond. As the company scales its operations and seeks new investment and technical partnerships, his participation will provide a first-hand look into the strategic thinking behind one of Africa's most dynamic energy companies. 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. Distributed by APO Group on behalf of African Energy Chamber.
Zawya
4 days ago
- Business
- Zawya
Woodside Energy Joins African Energy Week (AEW) 2025 with Focus on Driving Senegal's Offshore Expansion
African Energy Week (AEW) 2025: Invest in African Energies is proud to announce the participation of Terry Gebhardt, Vice President of Exploration at Woodside Energy, as a featured speaker at this year's event in Cape Town. With over two decades of global exploration experience and a leadership role at one of the world's most active independent energy companies, Gebhardt brings a timely and valuable perspective to the continent's evolving upstream landscape – particularly as Woodside delivers major milestones offshore West Africa. Woodside Energy's successful startup of the Sangomar Field Development Phase 1 in 2024 marked a transformative moment for Senegal's hydrocarbon sector. The company, in partnership with PETROSEN, brought the country's first offshore oil project online, establishing Senegal as a new oil-producing nation. This milestone not only affirms the resource potential of the MSGBC Basin, but also highlights Africa's ability to execute technically complex, deepwater projects with strong returns. As Gebhardt joins AEW 2025, attention turns to what's next. Phase 2 of the Sangomar development – currently under planning – aims to build on the momentum of Phase 1 by expanding production capacity, leveraging existing infrastructure and maximizing value creation. A defining feature of Woodside's approach in Africa is its emphasis on local content and capacity building. In Senegal, the company has worked closely with PETROSEN and other stakeholders to embed skills development, supplier participation and knowledge transfer into every stage of the project lifecycle. These efforts signal Woodside's commitment not just to accelerating project delivery, but embedding local expertise across its African operations and building sustainable, inclusive energy ecosystems. While Woodside continues to pursue high-impact opportunities in Africa, the company is also demonstrating strategic discipline. Its recent decision not to farm into PEL 87 in Namibia's Orange Basin reflects a measured, portfolio-based approach to exploration and capital deployment. At AEW 2025, Gebhardt is expected to share insights on how the company balances opportunity, risk and value across its African footprint. 'Woodside's success with the Sangomar project reflects Africa's readiness to execute large-scale, high-impact developments and signals a new era of upstream growth in the MSGBC Basin. Their leadership and commitment to local partnerships embody the kind of long-term investment Africa needs to unlock its full energy potential, and we look forward to welcoming them at AEW 2025,' says NJ Ayuk, Executive Chairman of the African Energy Chamber. With its strategic success in Senegal, continued engagement in West Africa's LNG narrative and commitment to high-impact, high-value exploration, Woodside Energy remains a key player in Africa's energy future. Gebhardt's participation at AEW 2025 reinforces that commitment and promises to add depth to discussions around investment, partnership and unlocking Africa's full energy potential. Distributed by APO Group on behalf of African Energy Chamber. AEW: Invest in African Energies: 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.
Zawya
4 days ago
- Business
- Zawya
Nigeria: Energy firm affirms commitment to inclusive growth, local capacity devt
Asharami Energy, a Sahara Group upstream company, has said it will continue to spearhead the quest for driving inclusive growth and local content development across Nigeria's energy landscape through investments, responsible operations, and collaboration with stakeholders in the upstream value chain. Speaking at the 5th edition of the Nigerian Oil and Gas Opportunity Fair (NOGOF), Leste Aihevba, Chief Technical Officer, Asharami Energy, said the sector would need to shore up local capacity development and participation to effectively contribute to Nigeria's energy security. Aihevba said that while current trends in the industry show increasing involvement of local expertise, a development he described as 'imperative for stability, innovation, seamless operations, and sustainable production to foster economic development in Nigeria. It is worthy to highlight that Asharami Energy already has close to 100% local content participation, with all but a few of the most complex technologies delivered by local service providers. 'Services covering subsurface reviews and studies, field development plans, well interventions, drilling, civil as well as oil and gas infrastructure projects, like flowlines, pipelines, flowstations, roads and location constructions are all provided by local companies.' He noted that Asharami Energy's collaboration model and capacity-building interventions drive the company's commitment to making a difference responsibly in the sector. 'Our message at NOGOF 2025 is simple. Asharami Energy is not just developing assets; we're developing people, communities, and promoting shared prosperity. We believe that the true measure of our success is not just in the number of barrels we produce, but in the impact and the value we create. Asharami Energy has a track record of both building local content capacity with Nigerian Service Providers and working harmoniously with all stakeholders in the local communities in which we operate', he said. Differentiating between local content at the national scale and local community participation in shared prosperity, Aihevba highlighted the company's gas-to-power intervention in the Ajoki community in Edo State, which has been enjoying uninterrupted power supply, promoting clean energy and environmental sustainability for the community, and the vocational training programmes it runs in partnership with the University of Benin Consultancy Services, which delivers skills training in various areas to up to 20 community youths annually. Asharami Energy is also providing roads in host communities to promote access to markets and opportunities and organises health and educational interventions to boost quality of life. Themed 'Driving Investment and Production Growth: Shaping a Sustainable Future for Nigeria's Oil and Gas Industry Through Indigenous Capacity Development,' NOGOF 2025 was held in Yenagoa, Bayelsa State, featuring high-level conversations and exhibitions geared towards putting the spotlight on growing local capacity in alignment with Nigeria's energy transition goals. Held biennially, NOGOF is a premier industry platform organised by the Nigerian Content Development and Monitoring Board (NCDMB) to showcase investment opportunities across Nigeria's oil and gas sector, with participation from key players across the upstream, midstream, and downstream sectors. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
Zawya
15-05-2025
- Business
- Zawya
Libya's upstream licensing round attracts more than 40 applicants
Libya's latest upstream licensing round has already attracted more than 40 applicants, according to Abdolkabir Alfakhry, Advisor to Libya's Minister of Oil and Gas. Speaking at the Invest in African Energy Forum in Paris on Wednesday, he said the bid round signals Libya's integration into the global energy market. Libya's launched its first international upstream licensing round in 18 years in March 2025 offering 22 onshore and offshore blocks. The country is targeting 2 million barrels per day (bpd) by 2028. Speaking at the same forum, Steiner Vage, President for Europe, the Middle East and Africa at ConocoPhillips said the US major sees huge potential in Libya, where it is currently operating the Waha concession, and Equatorial Guinea. 'We see a future in Equatorial Guinea in terms of stranded assets and getting more gas,' he said. 'The country needs more gas to keep its facilities and sustain production. There's a good opportunity to do more.' (Writing by Nadim Kawach; Editing by Anoop Menon) (
Zawya
13-05-2025
- Business
- Zawya
Oman: OQEP accelerates upstream investments and LNG growth in Q1
MUSCAT: OQ Exploration and Production (OQEP), one of Oman's leading oil and gas operators, has made strategic headway in expanding its upstream portfolio and diversifying energy assets during the first quarter of 2025, setting the stage for long-term production growth and low-carbon energy initiatives. With a robust portfolio of 14 upstream assets across the Sultanate of Oman — nine of which are producing — OQEP operates or partners in a range of concessions at various stages of development. The company's recent activities underscore its dual strategy of optimising oil and gas production while opening new frontiers for exploration and sustainable energy. UNLOCKING NEW INVESTMENT OPPORTUNITIESA key development in Q1 2025 was OQEP's collaboration with the Ministry of Energy and Minerals; and global investment bank Scotiabank to market Blocks 36, 43A and 66. These are part of a broader set of 11 blocks the Ministry plans to offer to investors through 2025–2026. OQEP's central role in this effort reinforces its position as a gateway for upstream investment into Oman's petroleum sector. In March, OQEP signed an Exploration and Production Sharing Agreement (EPSA) for Block 54 with the Ministry and London-listed Genel Energy. Under a joint operating agreement, OQEP will lead operations with a 60% stake, while Genel holds the remaining 40% as a non-operator. This marks Genel's first venture into Oman, lured by the country's stable regulatory environment. The Karawan Concession, spanning 5,632 km² in the South Oman Salt Basin, is underexplored but adjacent to productive fields. Both parties plan to invest up to $25 million in early-phase activities including seismic surveys and well testing over the next three years. ADVANCING EXPLORATION IN BLOCK 47Another significant milestone was the extension of Phase 1 exploration at Block 47, jointly operated with ENI Oman BV. The Najid-1 exploration well, spudded in February 2025, is expected to determine the commerciality of promising gas prospects. The six-month extension, agreed with the Ministry in April, will allow for deeper evaluation and, if successful, may lead to a second development phase. BOOSTING OIL OUTPUT FROM BLOCK 60OQEP also reported 86% progress in the Bisat C Expansion at Block 60 — its flagship oil asset, contributing 17% of the company's Q1 production. Once completed, the expansion will add 37,000 barrels per day (bpd) in oil processing capacity and 400,000 bpd in water treatment. Commissioning is targeted for Q3 2025, solidifying Block 60's role as a core revenue generator. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
