Angola Offers Prime Opportunity For Upstream Exploration- Minister Azevedo
Angola is a strong destination for oil and gas exploration, said Angola’s Minister of Mineral Resources, Petroleum and Gas, Diamantino Pedro Azevedo.
Recent regulatory reforms have positioned the country as a highly competitive market for foreign investment. With a 2025 licensing round expected to open in Q1 next year, the country offers a wealth of opportunity for upstream firms
Speaking during a pre-conference Fireside Chat at the African Energy Week (AEW) 2024: Invest in African Energies, Minister Azevedo outlined the country’s pro-investment approach to oil and gas development.
With a multi-year licensing strategy offering regular access to block opportunities, a permanent offer program and a newly launched marginal field opportunities, there has never been a better time to invest in Angolan oil and gas.
“There are a lot of promising blocks in Angola. We are waiting for the start of Agogo project, and the New Gas Consortium will start the production of non-associated gas soon. We have a strong exploration strategy with a target to award 55 blocks by 2025.
“Already, we have awarded 32 blocks. This is due to changes in legislation. We have a gas monetization law, marginal law and a new incremental law,” Minister Azevedo said.
In addition to the licensing strategy, Angola’s permanent offer program offers companies the chance to invest in blocks outside of the confines of a traditional licensing round. Over 14 blocks are available in the program.
In 2024, Angola also launched its first-ever marginal fields for exploration. Five blocks are available, all of which are strategically located within producing or proven plays.
“All these incentives encourage companies to invest in Angola. We encourage companies to believe in Angola,” Minister Azevedo added.
Beyond oil, Angola has a strong natural gas strategy centered on stimulating downstream expansion and resource monetization. According to Minister Azevedo, Angola “has plans to expand LNG capacity. With the new gas law, we have given companies the opportunity to monetize gas and we expect to see new developments.
“We will start production of non-associated gas soon but we still have blocks with prospectivity for non-associated gas.”
Source: https://energynewsafrica.com
Libya Set To Announce First Oil Bid Round Since 2011
Beleaguered North African oil producer Libya is set to announce within months its first oil and gas exploration bid round since the civil war began in 2011, Libyan Oil Minister Khalifa Abdul Sadiq has said in a report by Oilprice.com citing Bloomberg.
OPEC member Libya plans to offer blocks both onshore and offshore in the tender expected by the end of 2024 or in early 2025, the official told Bloomberg.
The blocks up for grabs are located in the Sirte, Murzuq, and Ghadames basins, Sadiq added.
Libya’s previous oil and gas exploration tender was held as far back as in 2007. This was four years before the toppling of Muammar Ghaddafi in 2011, which led to a protracted civil war in the country with various factions and tribal interests vying for control of key institutions and major oilfields.
As a result of the conflict, oil production in Libya has often suffered in recent years, to the point of OPEC exempting the North African producer from the OPEC+ production quota agreements.
In August and September this year, Libya’s oil production was decimated after the country’s two rival administrations locked horns over the appointment of a new central bank governor.
Since the central bank handles Libya’s oil revenues, both governments wanted their own man at the top position.
The eastern government, which controls most of Libya’s oil fields through affiliated armed groups, said production would be suspended until a compromise is found and promptly proceeded to carry out its threat.
So Libya had most of its output halted for the whole month of September.
Oil production resumed in early October and has now exceeded pre-crisis levels and hit 1.3 million barrels per day (bpd), the highest in years, Libya’s oil minister told Bloomberg.
The country could boost its output to 1.6 million bpd by the end of 2025 with the planned development of already appraised oilfields, he added.
In a sign of returning confidence from the oil majors, BP and Eni have recently returned to Libya after ten years of avoiding the country amid its civil war.
Source: https://energynewsafrica.com
India: Ashish Kanna Elected International Solar Alliance Director-General
The International Solar Alliance (ISA) has elected Mr Ashish Khanna, an Indian, as its third Director-General.
Ashish Kanna who is the President of Renewables at Tata Power, beat Wisdom Ahiataku-Togobo and Gosaye Mengistie Abayneh from Ghana and Ethiopia respectively.
Khanna will succeed the current Director-General, Ajay Mathur, whose tenure of office ends in March 2025.
In a speech, Mr Khanna articulated his vision for the ISA, emphasising a shift from focusing on ‘what’ to ‘how’.
“Most countries are aware of what needs to be done, but require assistance in reaching those goals,” Khanna stated, highlighting the importance of actionable strategies to broaden ISA’s impact.
He remarked, “The Alliance will benefit from participating in international fora where the motivation should be twofold to explore collaborations, work together and learn from each other’s experiences.”
Mr Khanna has more than three decades of rich experience in areas of renewables, utility, infrastructure, project management and contracts in both India and abroad.
Mr Khanna is an authority in the renewable industry.
Due to his vast knowledge and industry insights, he provides inputs to the government and regulatory bodies which help in formulating progressive policies for the renewable industry. He is admired for his strategic thinking and commitment for execution excellence.
The ISA, an international organisation with 120 member and signatory countries, works collaboratively with governments to enhance energy access and security worldwide while promoting solar power as a key component in the global transition to a carbon-neutral future.
The Union Minister for New and Renewable Energy, Pralhad Joshi, underlined the critical role ISA plays in mobilising resources and facilitating solar energy projects, particularly in Least Developed Countries (LDCs) and Small Island Developing States (SIDS).
“I’m proud to state that ISA has successfully completed 21 out of 27 demonstration projects, showcasing our collective ability to make significant strides in solar energy deployment and support sustainable development across the globe. These successful projects are a testament to our shared commitment and dedication,” Joshi said.
The Director-General of ISA has a vital role in assisting the Assembly in advancing the organisation’s mandate. This involves supporting member countries in overcoming shared challenges and coordinating efforts to scale up the deployment of solar energy worldwide.
The outgoing Director-General, Ajay Mathur, congratulated Khanna on his election and highlighted his significant accomplishments during his tenure, including the remarkable increase in ISA’s member and signatory countries, now totalling 103 and 17, respectively.
Mathur’s leadership also saw the completion and successful launch of numerous demonstration projects and the identification of 50 start-ups poised to energise their respective nations’ solar energy progress.
Mathur, who has led the ISA since 2021, will complete his tenure on 14th March 2025. Reflecting on his achievements, he expressed optimism about the future and confidence in Khanna’s ability to continue driving ISA’s mission forward.
Source: https://energynewsafrica.com
Trump Projected To Win U.S. Presidential Election
Republican presidential nominee and former President Donald Trump is projected to win the tight race for the 47th U.S. president, which sent the U.S. dollar surging and oil prices falling.
Since oil is priced in dollars, a rising U.S. dollar typically leads to lower oil prices as a stronger greenback makes oil more expensive to buy for holders of other currencies.
As of 3:40 a.m. E.T. Donald Trump was projected to win the presidential race against Vice President and Democratic nominee Kamala Harris. The New York Times’s Live Presidential Forecast showed as of 3:40 a.m. E.T. that Trump is “very likely” to win the election with more than 95% chance of victory. As of 4:00 a.m. ET, Trump was leading Harris in all the major battleground states, including Pennsylvania and Georgia. Fox News is projecting that Trump defeated Harris. According to The Fox News Decision Desk, Trump was projected to have exceeded the 270 electoral vote threshold to be elected president after winning the battleground states of North Carolina, Wisconsin, Pennsylvania, and Georgia. Nevada, Arizona, and Michigan were also leaning toward Trump, per the part of the counted ballots as of 4:00 a.m. As Trump is projected to win the race that has been too close to call in the past weeks, the U.S. dollar surged against other major currencies. This weighed on oil prices. The U.S. benchmark WTI Crude was down by 1.71% at $70.90 per barrel in Asian trade, or as of 4:00 a.m. ET in the United States. The international benchmark, Brent Crude, fell by 1.65% and traded at $74.34. Analysts say a Trump win would be bullish for oil prices in the near term. “If Trump wins, it is bullish for the oil market in the short-term due to prospects of tighter sanctions on Iranian oil,” Soni Kumari, commodity strategist at ANZ Research, told Reuters. Source: Oilprice.comAngola: Chevron To Operate Sanha Lean Gas Project In December 2024
US oil and gas firm, Chevron, which is the operator of the Sanha Lean Gas Connection Project in Angola, has announced plans to start production in December 2024.
Speaking during an Invest in Angola Energies roundtable – sponsored by the ANPG, Sonangol, Azule Energy and ACREP – at African Energy Week (AEW): Invest in African Energies 2024 on Monday, Toni Henning, Commercial General Manager at Chevron’s Southern Africa Strategic Business Unit, said that the project will deliver gas to the Angola LNG facility.
The $300 million project comprises the development of a platform that ties into the existing Sanha Condensate complex.
The project serves as part of a series of gas-focused investments the company is undertaking in Angola alongside various partners.
“We have been in Angola for 70 years and it has only been possible because of our strong partners. We lead in gas and have a couple of projects underway. Sanha Lean Gas has always been part of our gas profile in Angola. We had it fabricated in Lobito, with 1,000 direct jobs and 3,000 indirect jobs created,” Henning said.
In addition to the Sanha project, Angola’s New Gas Consortium (NGC) expects production to start at the Quiluma and Maboqueiro fields in late-2025 or early-2026, according to Adriano Mongini, CEO of NGC operator Azule Energy.
“The project is progressing well and we are planning start-up for late-2025. This is the first non-associated gas project in Angola, and hopefully, the first of many,” he said.
Beyond gas, Angola – sub-Saharan Africa’s second largest oil producer – aims to maintain production above one million barrels per day beyond 2027. To achieve this, the government is incentivizing investment in exploration, with the National Oil, Gas & Biofuels Agency (ANPG) preparing to launch its 2025 Bid Round in Q1 of next year. The round features part of a series of reforms aimed at driving exploration and production.
“We wanted to make the business environment more transparent and more competitive. We have marginal field opportunities and new legislation for gas, making it possible for investors to have gas rights,” said Alcides Andrades, Executive Board Member, ANPG.
Through its multi-faceted investment approach, Angola is consolidating its position as an oil and gas heavyweight, and recent developments point to that. TotalEnergies and project partners on the Kaminho Development in Block 20/11 made $6 billion FID in 2024, for example.
According to Rui Rodrigues, Director, TotalEnergies EP Angola, “the significance of the Kaminho project is that we are opening a new province in Angola. The majority of Angola’s production is derived from the north, but with Kaminho, we are diversifying supply.” He added that TotalEnergies is “on track to deliver the project by 2028.”
TotalEnergies also anticipates the Begonia field development to start production in the coming months.
McDermott International is leading the EPC support for the project. Mahesh Swaminathan, Senior Vice President: Global Business Vertical Head at McDermott International explained that “from an engineering perspective, we are nearly done.
The vessel will enter any time soon. We are nearly completed and it’s an exciting development.”
In addition to Begonia, McDermott International is focusing on capacity building in Angola. Swaminathan said that “We are setting up an engineering office in Angola, where we will train engineers from across the world.”
Beyond Kaminho, Angola has an exciting pipeline of projects underway. Katrina Fisher, Lead Country Manager and General Manager at ExxonMobil, shared insight into Block 15 – one of Angola’s longest-producing assets.
“We celebrated our 30th anniversary of Block 15 in August 2024 and we also recently made a discovery – Likember-01 – at the block, representing our 19th discovery at Block 15. With this, we have increased our production by 30% and offset decline.”
Angola’s NOC Sonangol – in addition to driving upstream projects – is committed to boosting refining capacity in Angola. Sonangol’s Board Director Kátia Epalanga said that “We are seeking more than 400,000 bpd in refining capacity by 2027. The three new refineries underway will help us reach this capacity.”
For international service companies such as SLB, Angola is ripe with opportunity.
According to SLB’s Managing Director – Central, East and Southern Africa, Miguel Baptista, “In 2024, we celebrated 55 years of operations in Angola. We continue to see a lot of activity happening across the life of the oilfield. With this, there is good opportunity for the industry to push the boundaries of technology.”
Angola also represents an exciting market for independents. Afentra, for example, which entered the market three years ago, is “focusing on growth in Angola: growth on the Kwanza Basin, growth on Block 3/05 and growth with regards to new deals,” according to the company’s COO Ian Cloke. Cloke considers Angola to be “a fantastic market to be in.”
The same can be said for AA&R Investment, which has not yet entered the Angolan market. Abdullahi Bashir, Haske Group, the company’s Managing Director, explained that “Angola is the right place to be and we are looking for opportunity there. We are looking at onshore and offshore blocks and we are looking at participating in the bid round.”
Source: https://energynewsafrica.com
Nigeria: Dangote Refinery Announces New Price For Petrol & Diesel
Africa’s largest crude oil refinery, Dangote Refinery has pegged the price of its petrol at N960 per litre into ships and N990 per litre into trucks.
The company’s Group Chief Branding and Communications Officer, Anthony Chiejina, disclosed this in a statement on Sunday.
The company made this known in reaction to a claim by the marketers that the refinery’s prices are higher than other suppliers, making it difficult for independent marketers to buy from it.
In its statement on Sunday, the Dangote Refinery said its prices are benchmarked against international rates, ensuring competitiveness.
The company claimed that anyone importing petrol at lower prices likely brings in substandard products, posing health and environmental risks.
“We had lately refrained from engaging in media fights but we are constrained to respond to the recent misinformation being circulated by IPMAN, PETROAN, and other associations.
“Both organisations claim that they can import PMS at lower prices than what is being sold by the Dangote Refinery. We benchmark our prices against international prices and we believe our prices are competitive relative to the price of imports,” Mr. Chiejina said.
He explained that if anyone claims they can land petrol at a price cheaper than the price Dangote is selling, and then they are importing substandard products and conniving with international traders to dump low-quality products into the country, without concerns for the health of Nigerians or the longevity of their vehicles.
The Dangote spokesperson claimed the regulator, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), does not even have laboratory facilities which can be used to detect substandard products when imported into the country.
“Post deregulation, NNPC set the pace by selling PMS to domestic marketers at N971 per litre for sale into ships and at N990 for sale into trucks. This set the benchmark for our pricing and we have even gone lower to sell at N960 per litre for sale into ships while maintaining N990 per litre for sale into trucks.
“In good faith, and in the interest of the country, we commenced sales at these prices without clarity on the exchange rate that we will use to pay for the crude purchased,” he said.
Source: https://energynewsafrica.com
South Africa: Oil Group Pushes To Amend New Law Causing Regulatory, Investor Uncertainty
Some oil explorers are “not satisfied” with South Africa’s long-awaited rules for the industry that were signed into law last month by President Cyril Ramaphosa, according to a lobby group.
The Upstream Petroleum Resources Development Act published on Oct. 29 includes regulations for the ownership of oil and gas blocks and their development.
The law has been anticipated for years as Shell Plc and other companies delayed activity or withdrew completely from South African acreage, citing regulatory uncertainty.
“It is great that we are moving toward legislative certainty as a country,” though neighboring countries “have done much better,” Adrian Strydom, executive director of the South African Oil & Gas Alliance, said in response to questions. “Some of the SAOGA member companies are not satisfied with the terms of the legislation,” he said, without giving details.
Oil majors have been developing gas projects in Mozambique and recent crude discoveries in Namibia sparked a surge of activity in the waters north of South Africa’s maritime border.
Over the last few years companies have also encountered legal battles with environmental groups that have successfully blocked exploration.
“SAOGA will continue to lobby for a more investor-friendly legislative and regulatory environment,” Strydom said.
“We may well require an amendment to the law to create greater clarity, improve ease of doing business, and to increase investor attractiveness.”
The Department of Mineral Resources and Energy didn’t immediately respond to an email seeking comment.
South Africa has virtually no commercial oil production and relies on imports and synthetic products to meet its fuel needs. The most industrialized nation on the continent also plans to build terminals for liquefied natural gas imports.
Source: World Oil
UK Grid Operator Warns Of Major Energy Transition Challenges
Britain’s transition to a low-carbon energy system is fraught with challenges, the new state-owned grid operator has warned in a report.
Massive investments in transmission and demand pattern changes are among these, the National Energy System Operator said in the document, released today, as well as keeping natural gas-fired power plants as backup reserves even after the transition targets have been hit.
The pace of expansion in alternative generation capacity would also need to speed up considerably to meet these targets.
In the next two annual renewable energy auctions, Britain would need to approve more offshore capacity than it has approved in the last six auctions, the grid operator said, to build between 28 and 35 GW in new capacity by 2030.
Onshore wind power capacity would need to double by that year, to 27 GW, the NESO also said, and solar power capacity would need to expand threefold to 47 GW from the current 15 GW.
The transition in line with government plans would require annual investments of some 40 billion pounds, or about $52 billion, with some of it going towards the construction of almost 2,700 miles of offshore cables and 620 miles of onshore cables, the NESO reported.
Meanwhile, even as wind and solar expand, Britain will need to keep its gas-fired power plants as a backup for when those two do not generate enough.
Currently, gas-fired capacity accounts for about a third of the country’s total, but this should decline to 5% by 2030, per transition plans.
Yet none of the currently operating gas-fired plants would be closed, being kept on standby in case of need.
Interestingly, the National Energy System Operator concludes in its report that despite the need for more investments in the transition and keeping gas power plants online, maintaining the UK’s energy system would cost no more in 2030 than it does now.
Source: Oilprice.com
UK: Hydrogen Facility Will Definitely Open In Bradford
Funding to build the UK’s largest hydrogen production facility in Bradford has been confirmed by Chancellor Rachel Reeves.
Bradford Low Carbon Hydrogen, a redevelopment of a former gas storage site, is the largest of 11 green hydrogen projects set to receive a share of £2bn from the government.
The Bradford project, which already has planning permission, is expected to create up to 125 new jobs for the city.
It will have the capacity to produce 12.5 tonnes of hydrogen each day, removing around 800 diesel buses from West Yorkshire’s roads on a daily basis.
The project is being delivered by joint venture partners N-Gen and Hygen, with support from Bradford Council.
Hydrogen production will secure the future of Bradford’s Birkshall site which has a rich heritage stretching back almost 100 years, according to the Local Democracy Reporting Service.
It was previously home to three large gas holders, with the site producing and storing gas for use by the city’s homes and businesses.
Hydrogen does not emit carbon when burned, meaning it can support the decarbonisation of several sectors, including heavy transport such as HGVs and buses.
It can also be used as a replacement for natural gas in industrial processes.
Council leader Susan Hinchcliffe said: “I’m pleased to see the Chancellor announcing this significant investment in Bradford.
“The Bradford Low Carbon Hydrogen programme will play an important role in helping Bradford deliver on its climate change ambitions as well as bringing investment and green jobs to Bradford.”
A joint statement from Gareth Mills, managing director at N-Gen Energy and Jamie Burns, director at Hygen Energy said: “We were thrilled to hear the Chancellor’s commitment to our Bradford project in this week’s budget and look forward to working with the Government as we deliver this hugely important scheme.”
Source: BBC
Nigeria: Grid Disturbances Cause Blackout In Many Nigerian States
Nigeria’s power transmission company, TCN, has reported that the national grid experienced a partial disturbance at about 1:52 pm on Tuesday, 5th November, 2024, leading to blackout in most of the states.
A statement issued by Ndidi Mbah, Public Affairs Manager for TCN, explained that the disturbance was caused by “a series of lines and generators trippings.”
The unfortunate incident caused instability of the grid and, consequently, the partial disturbance of the system.
She said data from the National Control Centre (NCC) revealed that a part of the grid was not affected by the bulk power disruption.
“TCN engineers are already working to quickly restore bulk power supply to the states affected by the partial disturbance,” she added.
According to her, bulk power supply has been restored to Abuja, as of 2.49 pm, and “we are gradually restoring to other parts of the country.
“We sincerely apologise for every inconvenience this may cause our electricity customers,” she concluded.
This is the tenth time Nigeria’s power grid is experiencing disturbances in 2024.
Many Nigerians are worried about these numerous incidences and keep wondering whether there would be an end to the issue of grid collapse.
Source: https://energynewsafrica.com
Namibia: Rosatom Presents Advanced Energy Solutions At The Nuclear Science And Technology Conference
Russian state atomic energy corporation, Rosatom, took part in the business programme of the 2nd Nuclear Science and Technology Conference in Namibia that ended on October 25, 2024.
During the three-day event policymakers, business and industry representatives from various countries discussed possible ways of developing a nuclear industry both in Namibia and other African countries (including the use of the continent’s uranium reserves).
The conference highlighted the importance of efficient uranium mining for the continent’s economic development.
According to Namibia’s Minister of Mines and Energy, Tom Alweendo, the mining industry’s contribution to GDP increased from 11.9% in 2022 to 14.4% in 2023, with local procurement spending exceeding N$21 billion.
Headspring Investments (a part of the Uranium One group with a uranium mining project in Namibia) presented its technologies, in particular the in-situ recovery method, at the event.
“We are proud to represent the Wings uranium project at this important event, demonstrating the advanced technologies that make this initiative innovative and sustainable. The method we use is one of the most ecologically friendly and safest mining technologies available globally. This approach reflects our commitment to not only providing energy solutions but also protecting Namibia’s unique nature for future generations,” Kirill Egorov-Kirillov, Headspring Investments Managing Director, noted.
“Nuclear energy can become a solid foundation for a sustainable energy system in Africa. Rosatom has developed a range of solutions to achieve this goal. Full-scaled nuclear power plants (NPPs) and small modular reactors (SMRs) can become reliable sources of energy. In particular, SMRs’ advantages are their construction speed and scalability, making them an ideal solution for hard-to-reach areas or regions with relatively low electricity demand. We are delighted that Namibia is exploring the possibilities of nuclear power, a decision that could make the country a major energy player on the African continent,” Ryan Collyer, CEO of Rosatom Central and Southern Africa, commented.
Source: https://energynewsafrica.com
Zambia: ZESCO Extends Power Supply From 3 To 5 Hours After Tariff Hike
Zambia’s power utility company, ZESCO Limited, has extended power supply from three hours to five hours to residential customers after raising electricity tariff to import power to shore up generation.
The new electricity tariff took effect from November 1, 2024.
A statement issued by the Corporate Affairs Department of ZESCO said following the emergency tariff adjustment that took effect from November 1, power supply has been increased from three hours to five hours.
It added that the Corporation has implemented an updated national power rationing schedule, optimising power imports and enhancing output from independent power producers where possible.
“While ZESCO aims to provide a constant 5-hour supply, the availability of power imports and other unforseen factors may occasionally affect this schedule. In such cases, ZESCO will keep customers and the public updated in real time via SMS, the ZESCO Facebook page and other communication channels,” it said.
Source: https://energynewsafrica.com
Source: https://energynewsafrica.com Ghana: PHDC Partners With Spanish Institutions To Train Ghanaians For The Petroleum Hub Project
The quest to transform the vision of Ghana’s President H.E. Nana Addo Dankwa Akufo-Addo to develop a modern, diversified, efficient and financially sustainable ‘energy economy’ that will ensure that all Ghanaian homes and industries have access to an adequate, reliable, affordable and environmentally sustainable supply of energy, cannot be over-emphasised.
However, this economic transformative agenda may not be fully realised without a well-trained, skilled, semi-skilled and unskilled workforce.
The Petroleum Hub Development Corporation (PHDC) is committed to developing a ready workforce for Ghana’s Petroleum Hub Project to fulfill the attainment of the resident’s lofty ideas.
The ambitious private sector-led project, valued at over US$60 billion, is to be developed in three phases, with contracts for Phase 1 already executed with a consortium of Chinese and Ghanaian investors.
To this end, the PHDC has initiated a capacity-building programme aimed at training Ghanaians—skilled, semi-skilled and unskilled—across various modules in the petroleum downstream sector.
These trainees will provide an essential support base for investors in the construction of vital infrastructure, including civil works and drainage systems.
In line with this, the Petroleum Hub Development Corporation (PHDC) is collaborating with Canary Consulting & Trading (CCT) and Aurum Global Partners (AGP) to enhance the capabilities of the people to properly fit into Ghana’s petroleum industry.
Partnering to achieve this are the University of Las Palmas, the Finnova Foundation, and Cassa Africa of the Government of Canary Islands, three remarkable institutions whose achievements are well-known in the petroleum industry.
The University of Las Palmas, for instance, is well-known for its cutting-edge research and technical expertise in environmental technologies and sustainable development.
Their involvement will, therefore, provide potential trainees with world-class skills and knowledge.
This cooperation is expected to reinforce the “Sister-Sister” regional relationship between Ghana’s Western Region and the Canary Islands of Spain, focusing on innovation and education.
Training modules will include: environmental technologies for handling hazardous materials; best practices in oil and gas maintenance; air pollution prevention and water treatment management; smart city development and sustainability; fire prevention and pipeline safety; project management planning
PHDC’s collaboration with CCT and AGP represents a unified effort to elevate Ghanaian values, add to its human capital and natural resources, and position the local workforce as a key player in the global petroleum downstream sector.
AEW: Congo To Launch Inaugural Energy & Investment Forum
The Republic of Congo’s (RoC) Ministry of Hydrocarbons will tomorrow (November 5) announce the inaugural Congo Energy & Investment Forum (CIEF), scheduled for March 25-26, 2025 in Brazzaville.
This high-profile event will position the RoC as a prominent player in Africa’s energy landscape, showcasing extensive investment opportunities across its energy sector.
Under the leadership of Hydrocarbons Minister Bruno Jean-Richard Itoua, the RoC is on track to realizing its full energy potential, with an anticipated production of 280,000 barrels of oil per day by the end of 2024, making it sub-Saharan Africa’s fourth-largest oil producer.
CEIF will build on this momentum by highlighting new projects and partnerships that strengthen the RoC’s standing among top oil-producing nations like Angola and Nigeria.
The RoC’s national oil company Société Nationale des Pétroles du Congo (SNPC) – led by Managing Director Maixent Raoul Ominga – is leading Congo’s energy growth.
Among its many projects across the hydrocarbons value chain, the company holds a majority stake in the Mengo Kundji Bindi II permit, with an estimated 2.5 billion barrels of oil.
SNPC’s initiatives in this field encompass the development of 13 wells, extensive 3D seismic data acquisition and the construction of six production platforms.
Supported by the African Energy Chamber, CEIF will bring together government leaders, investors and industry experts, providing critical insights into the country’s latest upstream developments.
The forum offers a unique platform to connect local and international investors with opportunities in both onshore and offshore projects, paving the way for impactful collaborations.
At AEW, the Ministry of Hydrocarbons is also set to release its comprehensive Gas Master Plan at the “Invest in the Republic of Congo Energies” Roundtable Discussion, aiming to unlock untapped gas potential, attract new investments and facilitate smaller-scale projects with favorable fiscal terms.
Additional reforms include establishing a national gas company and introducing a new Gas Code to support the commercialization of stranded and flared gas assets.
Gas development is a growing focus in the RoC, which is home to over 10 trillion cubic feet of proven natural gas reserves.
The country achieved its first LNG exports from Eni’s Tango FLNG facility in February 2024, with a second unit set to be operational by late-2025, adding an annual capacity of 2.4 million tons.
Additionally, the RoC targets 3 million tons of LNG production annually by 2025 from Eni’s Marine XII project, involving LNG units at the Nenè and Litchendjili fields.
“Introducing CEIF at Africa’s premier energy event, African Energy Week, marks a major milestone for the RoC’s investment climate,” says James Chester, CEO of Energy Capital & Power, CEIF organizers.
“This platform amplifies the country’s strategic energy initiatives and demonstrates to investors and industry stakeholders that the Congo is serious about advancing its energy sector. African Energy Week offers a powerful opportunity to highlight the country’s ongoing achievements and vast potential, fostering essential connections that can drive investment and long-term partnerships across the region.”
Source: https://energynewsafrica.com