Latest news with #AfricanEnergy
Zawya
2 days ago
- Business
- Zawya
Northern Ocean Chief Executive Officer (CEO) to Speak at African Energy Week (AEW) 2025 Amid African Market Expansion
Africa's premier energy event, African Energy Week (AEW) 2025: Invest in African Energies, will welcome Arne Jacobsen, CEO of international drilling contractor Northern Ocean, as a featured speaker. As operator of two of the world's most advanced offshore drilling rigs, Northern Ocean's participation is vital to discussions on Africa's offshore hydrocarbons potential and the strategic role that service companies play in unlocking that potential. Under Jacobsen's leadership, Northern Ocean has expanded its footprint across Africa with its Deepsea Mira and Deepsea Bollsta rigs supporting major offshore projects since 2022. Notably, the Deepsea Mira played a key role in appraising TotalEnergies' landmark Venus oil discovery offshore Namibia in 2024 and continued operations in the Orange Basin with the Tamboti-1X exploration well in early 2025. 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. In Q2 2025, the Deepsea Bollsta completed a one-well contract with a Chevron subsidiary in Namibia. Currently undergoing maintenance, the rig will remain stationed in Africa throughout 2025, underscoring Northern Ocean's commitment to expanding its presence in the continent's upstream oil and gas sector. In Ghana, Northern Ocean is advancing its strategic partnership with Springfield Group, following a successful well test on the Afina 1X appraisal well in Q4 2024. Plans are underway for a long-term field development contract utilizing the Deepsea Bollsta, expected to commence by mid-2025. 'Increasing offshore exploration is key to unlocking Africa's vast energy resources and driving sustainable economic growth across the continent. Northern Ocean's advanced drilling capabilities and steadfast commitment will play a critical role in transforming Africa's estimated reserves into tangible development outcomes that benefit millions,' says NJ Ayuk, Executive Chairman, African Energy Chamber. As major operators prepare to scale up exploration activities in South Africa and Namibia through 2025 and beyond, Northern Ocean is well-positioned to capitalize on this growth. AEW 2025: Invest in African Energies provides an ideal forum for Jacobsen to engage with governments, national oil companies and private sector leaders to forge long-term partnerships and secure new contracts. Distributed by APO Group on behalf of African Energy Chamber.
Zawya
4 days ago
- Business
- Zawya
Egypt's Minister of Petroleum to spearhead latest bid round at African Energy Week 2025
CAPE TOWN, South Africa/ -- Karim Badawi, Egypt's Minister of Petroleum and Mineral Resources, has joined the African Energy Week (AEW): Invest in African Energies 2025 conference – taking place September 29 to October 3 in Cape Town – as a speaker. His participation comes as the country advances its latest licensing round, seeking to increase production through fresh investment in offshore and onshore blocks. With the round set to close in the second half of 2025, Egypt is gearing up for accelerated growth across its upstream industry. Egypt's latest licensing round was launched in March 2025, featuring 13 offshore and onshore blocks across key hydrocarbon regions. Available acreage includes seven undeveloped fields in the Mediterranean Sea, three offshore exploration blocks in the Gulf of Suez and three onshore exploration areas in the Western Desert. The bid round forms part of a broader strategy by the Ministry of Petroleum and Mineral Resources to attract new investment across the upstream sector and follows a previous 12-block round which closed in February 2025. During AEW: Invest in African Energies 2025, Badawi is expected to share insights into the impact these licensing rounds will have on the market. 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. Egypt's bold licensing strategy comes as the country strives to mitigate production decline and support the development of high-potential blocks. Under the leadership of the Ministry of Petroleum and Mineral Resources, the country has set a target of drilling 586 oil and gas wells by 2030 and is strengthening collaboration with international partners to realize this goal. Recent deals and exploration milestones align with this strategy, indicating a positive growth trajectory for the country's upstream oil and gas sector. Egypt approved two transactions by Russian energy firm Lukoil in May 2025, covering exploration and production rights for acreage in the South Wadi El-Sahl region of the Eastern Desert and the Wadi El-Sahl area. Energy major ExxonMobil signed an MoU for a new operational framework in the Cairo and Masry offshore concession areas of the Mediterranean Sea while energy major Eni is spearheading a $26 billion investment strategy across three North African countries – including Egypt. In terms of drilling, Eni is preparing to drill two development wells at the Zohr gas field in 2025. ExxonMobil plans to drill a new offshore gas exploration well in the North Marakia Offshore Concession. The Egyptian Natural Gas Holding Company also plans to drill 17 exploratory and evaluation wells in 2025/2026, targeting acreage in the Delta and Mediterranean Sea. The company is investing $434 million in drilling activities. Beyond exploration, Egypt is working toward scaling-up its production and export capacity to support growing demand in both regional and international markets. As one of Africa's top gas producers, Egypt already plays an instrumental part in global supply chains, but upcoming projects stand to further consolidate its position as a global exporter. Turkey is deploying a floating storage and regasification unit (FSRU) to Egypt, which will provide LNG storage and regasification services to the country during peak demand periods in 2025. Another agreement was signed with energy infrastructure firm Höegh Evi for the supply of a FSRU, which will be situated at the Port of Sumed in Q4, 2026. The FSRU enhance the country's regasification and export capacity. Meanwhile, energy major Chevron announced plans to conduct a seabed survey in the eastern Mediterranean, aiming to develop a pipeline that will transport gas from Cyprus' Aphrodite field to processing facilities in Egypt. This will not only support regional gas monetization but cements Egypt's role as a regional petroleum hub. Badawi's insights at AEW: Invest in African Energies 2025 are expected to support both upcoming projects and efforts to integrate regional markets. 'Egypt is not only assessing short-term production strategies but implementing initiatives that ensure long-term growth across the upstream oil and gas industry. Spearheaded by Minister Badawi, the country is advancing its bold licensing strategy, offering blocks that have the potential to transform the exploration and production space. This approach signals a strong commitment by the government to establish a globally-competitive and resilient energy sector in North Africa,' states Tomás Gerbasio, VP Commercial and Strategic Engagement, African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber. SOURCE African Energy Chamber
Zawya
20-06-2025
- Business
- Zawya
Petralon Energy Set to Shape Conversations on Nigeria's Oil Future at African Energy Week (AEW) 2025
African Energy Week (AEW) 2025: Invest in African Energies is honored to welcome Ahonsi Unuigbe, Founder and CEO of Petralon Energy, as a distinguished speaker at this year's edition in Cape Town. A driving force behind one of Nigeria's leading indigenous upstream oil and gas companies, Unuigbe will offer valuable perspectives on the role of independent operators in Africa's energy future, as well as the opportunities arising from sector reforms, new fiscal incentives and major IOC divestments. Since its founding, Petralon Energy has positioned itself at the forefront of Nigeria's upstream sector, with a mission to create value through indigenous ownership and technical excellence. In 2025, the company continues to make significant strides at the Dawes Island Field, where drilling and completion of a new well added 2,500 barrels of oil per day to Nigeria's daily production, directly supporting national energy security and economic growth. Petralon is also pursuing strategic offshore investments through its non-operated interests in OML 127 and OML 130, part of a broader plan to strengthen its asset portfolio amid the shifting dynamics of Nigeria's upstream sector. Beyond its operational achievements, Petralon Energy is focused on long-term capacity building. The company launched its Future Leaders Program in 2024, aimed at equipping young Nigerian engineers with the technical, leadership and problem-solving skills necessary to drive the sector forward. Petralon's strategic partnership and joint investment agreement with engineering firm Julius Berger Nigeria, announced earlier this year, further reflects its commitment to delivering infrastructure solutions that support sustainable field development and enhance project delivery. At AEW 2025, Unuigbe will join key discussions on how African independents can leverage new fiscal frameworks, attract investment and form partnerships that maximize the potential of both mature and frontier assets. His participation will contribute to high-level dialogue around indigenous firms' expanding role in shaping the continent's energy landscape. 'Companies like Petralon Energy represent the future of Nigeria's oil and gas sector — a future where African companies take the lead in driving production, creating jobs and delivering energy security. We are proud to welcome them at AEW 2025, where we will celebrate and support the success of local firms like Petralon that are building Africa's energy industry from the ground up,' states NJ Ayuk, Executive Chairman of the African Energy Chamber. Petralon Energy's participation in AEW 2025 embodies the conference's core theme of African solutions for African energy challenges, and reflects the growing leadership of indigenous companies in delivering the continent's energy future. Distributed by APO Group on behalf of African Energy Chamber. About African Energy Week (AEW): 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
19-06-2025
- Business
- Zawya
UAE Undersecretary for Energy and Petroleum Affairs joins African Energy Week 2025
CAPE TOWN, South Africa/ -- Sharif Salim Al-Olama, Undersecretary for Energy and Petroleum Affairs at the Ministry of Energy and Infrastructure of the United Arab Emirates (UAE) has joined African Energy Week (AEW): Invest in African Energies to discuss collaborative opportunities in oil and gas. Taking place on September 29 to October 3 in Cape Town, the event is the premier platform for Africa's energy industry. Al-Olama's participation is expected to open new doors for multilateral deals and partnerships. The UAE has emerged as Africa's largest source of foreign direct investment, with investments from Emirati companies totaling $110 billion between 2019 and 2023. This reflects a broader trend by Emirati companies to expand their portfolios in Africa, with strengthened cooperation set to unlock a wealth of development opportunities for African nations. As African countries pursue new sources of finance to advance projects in oil, gas and logistics, UAE expertise and technology will prove invaluable. During AEW: Invest in African Energies 2025, Al-Olama is expected to share insights into opportunities for UAE-Africa collaboration. 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. Looking to consolidate its position as a major player in Africa's energy landscape, the UAE has strengthened ties with African nations in recent months. A deal signed with Morocco will see the UAE support the development of the Africa-Atlantic gas pipeline – transporting Nigerian gas to North Africa and then on to Europe. The UAE will help mobilize financing for the project through its Abu Dhabi sovereign wealth fund. As of May 2025, the feasibility and preliminary engineering studies for the pipeline were complete. Agreements have also been signed with Tanzania for the operation and modernization of port infrastructure while the UAE and Kenya signed a landmark comprehensive economic partnership agreement in 2025. The UAE also launched the UAE-Africa Gateway initiative in 2025, aimed at enhancing investment opportunities for Emirati companies in the sub-Saharan African region. The initiative seeks to mobilize private sector investment to advance African projects and strengthen UAE-Africa cooperation. The UAE's state-owned oil and gas companies are also expanding their presence in Africa. Notably, Abu Dhabi National Oil Company (ADNOC) is deepening its footprint across the continent, with strategic investments in exploration and infrastructure development. Recent milestones include ADNOC's international arm XRG acquiring a 10% stake in Mozambique's offshore Rovuma Basin Area 4 concession. The acquisition includes stakes in the operational Coral South FLNG project, the planned Coral North FLNG project and the Rovuma LNG projects. Collectively, these projects have a target production capacity of 25 million tons per annum. In Egypt, ADNOC partnered with energy major bp to establish Arcius Energy – a natural gas platform to unlock the country's upstream potential. The platform aligns with ADNOC's international expansion plans. Beyond oil and gas, UAE-based companies have played an instrumental role in strengthening Africa's trade and logistics sector. Companies such as DP World and Abu Dhabi Ports have expanded their presence across the continent. DP World operates six African ports while Abu Dhabi Ports have recently extended operations into Guinea, Egypt and Angola. In the clean energy space, Emirati companies are leading projects in solar, green hydrogen and power. Notably, Masdar has committed $2 billion to renewable energy projects in Africa through 2030, unlocking significant opportunities for African countries. AMEA Power is investing in a series of renewable energy projects across the continent, including $620 million in a 300MW wind project in Ethiopia; a 120 million solar project in South Africa; a 1GW green hydrogen development in Mauritania; two battery storage projects in South Africa; a 150 MW solar plant in Angola; among others. Currently, the company has more than 2.6 GW of clean energy projects either in operation of under construction in Burkina Faso, Djibouti, Egypt, Ivory Coast, Morocco, Togo and Tunisia. 'The UAE has emerged as a strong partner for African countries seeking to advance the development of their oil, gas, clean energy and infrastructure industries. By expanding their presence across the market, partnering with African firms and mobilizing capital for impactful projects, Emirati companies are playing a major role in supporting Africa's economic growth,' states Verner Ayukegba, Senior Vice President, African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber. SOURCE African Energy Chamber
Zawya
18-06-2025
- Business
- Zawya
African Energy Week (AEW) 2025 to Host Dedicated Energy Finance Track
The African Energy Week (AEW): Invest in African Energies conference – taking place September 29 to October 3 in Cape Town – will host an Energy Finance Track, dedicated to exploring the opportunities, challenges and emerging trends across Africa's investment environment. The Energy Finance Track – hosted across the three-day main conference agenda – covers a variety of topics and aims to reduce risk perception, identify strategic investment avenues while exploring innovative finance models that drive projects forward in Africa. The Energy Finance Track features a suite of companies, all of which will tackle strategic topics. These include African and global national oil companies, global energy and intelligence firms, energy and technology service providers, downstream regulators, upstream operators, African E&P firms, renewable energy developers, and many more. From access to finance to investment risks to Merger&Acquisition (M&A) activity, regional projects and development finance, the track will support decision-making and deal-signing in Africa's energy sector. 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. Africa's energy sector continues to witness a surge in investment, as both operators and financiers expand their portfolios across the continent. In 2025, capital expenditure across the continent is projected to hit $43 billion, rising to $54 billion by 2030. Onshore projects are expected to represent the lion's share of expenditure at 56%, while natural gas is estimated to draw the majority of capital by 2030, accounting for over 60% of hydrocarbon investment during this period. Deepwater exploration is also on the rise, particularly in frontier markets such as Namibia and Ivory Coast. Financing exploration and production projects remains a key challenge, however, as the global capital pool continues to decline. The AEW: Invest in African Energies Energy Finance Track will address this challenge, with panels geared towards exploring innovative strategies to raise capital for oil and gas projects. Sessions include Reducing Barriers to Entry in African Energy Investments; Financing Upstream Projects for Domestic Energy Security; Sourcing International and African Capital for the Acquisition and Development of Marginal and Undeveloped Fields; and African Equity Risk Premium. Africa's M&A landscape has also proven to be dynamic in recent years, with future projections showing a positive growth trajectory as companies seeks new investment and partnership opportunities across the continent. Driven by rising capital expenditure, a surge in exploration and a focus on frontier basins across the continent, M&A activity continues to grow in Africa. Amid this growth, the Energy Finance Track will address strategies for supporting future M&A activity. Sessions on Strategic Financing for M&A and Navigating Risk and Insurance in African M&A, will examine identified risk and liabilities between buyers and sellers and how access to capital, regulatory hurdles and shifting investment trends are impacting Africa's M&A landscape. Beyond oil and gas, Africa's renewable energy and power landscape is on track for significant growth, as countries diversify their energy systems and seek to support broader economic growth. With over 600 million people living without access to electricity across the continent, African countries are accelerating the pace and development of power infrastructure, from generation to transmission to storage. Yet, financing challenges remain. The International Energy Agency projects that to meet the continent's energy access, climate and development goals, Africa requires annual energy investments to more than double to over $240 billion by 2030. Key sectors include energy access, power systems and emerging industries such as clean energy technologies. The Energy Finance Track will unpack the role innovative financing mechanisms and regional collaboration plays in achieving the continent's energy and development goals. Sessions on Intra-Africa Commodities Trading and Financing Cross-Border Pipelines and Shared Infrastructure Projects will explore how increased regional trade can serve as a catalyst for economic development in Africa. Additionally, sessions on Integrated Energy Projects: Is Financing Easier and Energy Finance Strategies: Lessons Across Africa will examine how blended finance, public-private partnership models and development finance can support energy development. 'The AEW: Invest in African Energies 2025 Energy Finance Track offers a unique opportunity for African financiers to gain insight into emerging opportunities across the continent. At the same time, the track offers project developers, governments and public institutions the chance to explore new methods of financing, while addressing critical challenges to energy development,' stated Oré Onagbesan, AEW: Invest in African Energies Program Director. Distributed by APO Group on behalf of African Energy Chamber.
