Aiming to increase production above 1.1 million barrels of oil per day (bopd) – while diversifying into gas monetization and value-added activities – Angola is spearheading the revitalization of its upstream landscape as a mature petroleum producer. International energy company Azule Energy has signed onto African Energy Week: Invest in African Energy 2024 as a Silver Sponsor, affirming its commitment to harnessing Africa’s energy resources and scaling oil and gas production to achieve long-term energy security.

Azule Energy – a joint venture between Eni and bp – represents Angola’s largest independent equity producer of oil and gas and a key player in achieving Angola’s production ambitions. The company holds 2 billion barrels equivalent of net resources and 20 licenses – of which 11 are operated – and is seeking to increase operated output to 250,000 bopd through the Agogo Integrated Wet Hub and PAJ Complex Upstream projects in Blocks 15/06 and 31, respectively. Block 15/06 is expected to become an integrated service hub for local industries, generating $5.6 billion and 1,400 jobs by 2044 as Azule Energy maximizes reserves and optimizes production from the Agogo and Ndungu fields.

AEW: Invest in African Energy 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 www.AECWeek.com for more information about this exciting event.

Returning to AEW: Invest in African Energy as a Silver Sponsor, Azule Energy is expected to discuss Angola’s pathway to increasing oil output, as well as the country’s future role as a major LNG exporter. As operator of the New Gas Consortium (NGC) – the first non-associated gas project in Angola – Azule Energy is leading development of the shallow-water Quiluma and Maboqueiro fields to produce 4 billion cubic meters of gas per year via two offshore platforms, an onshore gas processing plant and a connection to the existing Angola LNG plant. The foundation stone was laid for the NGC’s operations facilities in Soyo last October and an estimated $1 billion of the project costs will be allocated to the procurement of local goods, services and materials.

The company maintains a broad, diversified energy portfolio that focuses on maximizing operational efficiencies and deploying emissions-lowering technologies. Affirming its commitment to innovation in the sector, Azule Energy is piloting an offshore carbon capture and storage (CCS) plant on the Agogo FPSO, set to be the world’s first post-combustion carbon capture unit installed on an FPSO. With a view to advancing Angola’s energy transition, Azule Energy also launched Angola’s first solar photovoltaic (PV) plant – the 25 MW Caraculo solar farm – in partnership with national oil company Sonangol and is actively contributing to Angola’s goal of reaching 500 MW of renewable energy by 2025.

“Azule Energy is answering Angola’s call for upstream investment, from establishing new offshore production hubs to maximizing operational efficiencies to deploying first-of-its-kind CCS technologies. These achievements demonstrate that IOCs can and should continue to develop Africa’s hydrocarbon resources to meet growing energy demand, while still prioritizing sustainability and innovation in the sector,” states NJ Ayuk, Executive Chairman of the African Energy Chamber.  

During AEW: Invest in African Energy, Azule Energy is expected to expand discussions around Angola’s upstream agenda while providing insight into the company’s long-term investment strategy. Through participation in various panel discussions, the company will discuss how balancing oil and gas production with low-carbon technology can bolster both energy security and a transition to a sustainable future. The company’s return to the conference showcases a strong commitment by Angola’s operators to drive investment in African oil and gas production.

Distributed by APO Group on behalf of African Energy Chamber.

Strategy Director for Africa50 Infrastructure Investment (Africa50 Group) Molly Omolara Gbodimowo will discuss lucrative investment opportunities within Africa’s energy value chain at the Invest in African Energy (IAE) forum in Paris in May.

Dedicated to fostering Africa’s development by spearheading bankable projects and collaborating with public and private sector investors, Africa50 Group plays a pivotal role in bridging the continent’s infrastructure funding gap while facilitating sustainable growth.

IAE 2024 is an exclusive forum designed to foster collaboration between European investors and African energy markets. Taking place May 14-15, 2024, in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors, and policymakers. For more information, please visit www.Invest-Africa-Energy.com.

The pan-African infrastructure investment platform secured $222.5 million in commitments primarily from African investors to support transformative infrastructure projects within the power and energy, transportation and logistics, and water and sanitation sectors in 2024. Meanwhile, in December 2023, Africa50 Group partnered with renewable energy firm AMEA Power to co-develop and finance solar power projects in Senegal, Tunisia, Burkina Faso, Togo, and Chad, contributing to the continent’s energy mix diversification.

As Africa maximizes the exploitation of its oil and gas resources for energy security and industrialization, Africa50 Group is stepping up its support for project implementation. In Senegal, the platform contributed to the Malicounda Combined Cycle Thermal Plant – enhancing the country’s generation capacity by 17% – as well as the Tobene Combined Cycle Heavy Fuel Oil Facility in partnership with state utility Senelec. Africa50 Group also invested in the 461 MW Azura-Edo Open-Cycle Gas Turbine Plant in Nigeria, bolstering the nation’s energy capacity on the back of local gas resources.

During this year’s IAE forum, Gbodimowo is expected to highlight the pivotal role of African investment platforms in driving the continent’s energy renaissance and creating lucrative opportunities for global investors.

“Africa50 Group will be instrumental in attracting new investments to advance Africa’s energy diversification, financing a blend of oil, gas, and renewable projects, as global financiers shift focus from hydrocarbon projects. At IAE, Africa50 Group will showcase its project portfolio, attracting international investors to explore various prospects across Africa’s energy spectrum,” says Sandra Jeque, Event&Project Director of IAE 2024.

Distributed by APO Group on behalf of Energy Capital&Power.

Study Aims to Provide a Holistic Look at Health and Wellbeing; Kenyans exhibit high vitality and a positive outlook on life.

Download document: https://apo-opa.co/4dAMkWr

The Cigna Healthcare Vitality Study has identified Kenyans as enjoying the most vitality out of the 12 markets analyzed. The global health services company attributes Kenyan vitality to a sense of optimism and a love of learning, which helps counteract their high levels of stress related to work and personal finance.

The Vitality Study is the first of its kind to focus on aspects of life such as mental health, work-life balance, and family relationships. Spanning twelve global markets, the study delved into eight key aspects of well-being: social, occupational, financial, intellectual, physical, spiritual, emotional, and environmental.

Regarding vitality, Kenyans scored 79.9, narrowly surpassing Saudi Arabia (79.2) and the United Arab Emirates (77.1) but far exceeding the global average of 68. Two metrics seemed to account for Kenyan vitality: 75% look forward to each new day compared to the global average of 42%, and 84% value learning new things compared to the global average of 53%.

While Kenyans navigate a unique dynamic in their daily lives, eagerly anticipating each new day more than anywhere else in the world, financial concerns elevate their stress levels to global peaks. The Vitality Study revealed a concerning trend: all respondents surveyed in Kenya reported feeling burnt out, marking the second year running that Kenya leads the world in burnout, with 100%—the highest among all global markets—compared to the global average of 94%. Notably, approximately 73% of Kenyans attributed their stress to the cost of living, far surpassing the global average of 47%, while 86% of Kenyans expressed that the high cost of living makes it prohibitively expensive to maintain good health, far exceeding the global average of 38%.

Leah Cotterill, the Chief Distribution Officer for Cigna Healthcare Middle East, commented, “We recognize the paradox presented in the Vitality Study, highlighting a scenario where remarkable strides in vitality are concurrently marred by significant challenges in burnout, stress, and financial strain. This dichotomy underscores a complex landscape of health and wellbeing in Kenya, where advancements in physical health are often offset by mental and financial health pressures.

“It’s a reminder that while we celebrate progress in one domain, we must remain vigilant and proactive in addressing emerging challenges in others.”

Cigna Healthcares findings emerge from an economy that is growing strongly but suffering from global inflationary pressures. According to the World Bank, Kenya’s GDP grew by 5% in 2023, compared to 4.8% in 2022, but it faces challenges such as the cost of living, exchange rate pressures, and global economic uncertainties.

Apart from work and financial pressures, the Cigna Vitality Study revealed other positive insights from Kenyan respondents. They scored above global averages in their perception of areas such as overall wellbeing, good health, diet and sleep, interaction with friends and social activities, family ties, and mental wellbeing.

Key Findings of the Cigna Healthcare Vitality Study:

Demographics: Amid the cost of living crisis and geopolitical fears, young Africans between 18 and 44 bear the brunt of stress. Kenya’s millennials (ages 25-44) are particularly affected, with 96% reporting stress. Gen Z individuals (ages 18-24) closely follow, with 93% reporting stress. Despite slightly calmer trends among older age groups, Kenyans over 50 still experience stress levels above the global average.
Global and Regional Comparisons: Kenya exhibits the highest overall vitality score among the twelve global markets studied, with a score of 79.6. This outperforms even top-ranking countries like Saudi Arabia and the UAE.
Wellbeing Aspects: Kenyans outscored global norms across various well-being metrics, most notably, with 50% of Kenyans rating their overall well-being as ‘Excellent or Very good’ compared to 42% globally, with family (72%), faith (55%), and mental well-being (56%) all being rated highly and above the global average.
Stress and Burnout: Stress levels in Kenya remain high, with 94% of respondents reporting they are struggling to manage stress, compared to 80% globally. The ‘cost of living crisis’ is the leading cause of stress (73%), followed by personal and family financial concerns (61%).
Work Patterns and Stress: Kenyan workers face significant challenges with stress and work-life balance, with 83% reporting working outside regular hours. Moreover, 70% feel constantly connected to work, contributing to burnout.
Lifestyle Changes Post-Pandemic: Post-pandemic, Kenyans prioritize health and wellbeing more than ever, with 86% expressing a desire to make lifestyle changes. There’s also a renewed focus on family and friends, with 85% emphasizing the importance of being close to loved ones.
Employer’s Role in Health Enhancement: Kenyan employees seek more support from their workplaces to navigate stress and maintain wellbeing. Mental health support (60%), flexible work arrangements (59%), and private health insurance plans (70%) are among the top employee preferences for health programs.

About the Cigna Healthcare Vitality Study:
The Cigna Healthcare Vitality Study surveyed 10,800 respondents in the US, UK, Netherlands, Spain, Belgium, Switzerland, Kenya, the UAE, Saudi Arabia, China, Singapore, and Hong Kong SAR between May and June 2023.

The survey asked 35 questions to gauge respondents’ sense of social, occupational, financial, intellectual, physical, spiritual, emotional, and environmental well-being, providing Cigna Healthcare with a comprehensive picture of people’s ability to thrive in an organizational setting and to pursue life with health, strength, and energy.

The study was based on the Evernorth Vitality Index©, developed in partnership with leading clinical psychologist and author Dr. Richard Ryan using his Self-Determination Theory and Subjective Vitality Scales (SVS). The index measures eight dimensions of well-being as well as three components of the SVS.

Distributed by APO Group on behalf of Cigna Healthcare.

About Cigna Healthcare:
Cigna Healthcare is a global health service company dedicated to helping people improve their health, and vitality. With a heritage of over 200 years, Cigna is committed to its promise of being together all the way in providing healthcare, clinical management and wellness programs to employers, individuals, and governments around the world.

Operating for more than 19 years in the Middle East region, Cigna serves the GCC markets and Lebanon through its locally regulated entities. The company delivers both health and wellness services to individuals, employers and government entities in the region.

Cigna has been operating in the African continent for 60 years servicing over 250,000 members. Cigna is servicing corporates through direct partnerships with locally licensed insurers in each market. We provide health insurance for local companies looking to insure key resources and multinationals looking to harmonize their health insurance across Africa.

Cigna maintains a global sales capability in 30 countries and jurisdictions, employing over 70,000 people that service more than 190 million customer relationships.

To learn more about Cigna Healthcare, visit www.Cigna-ME.com

Oil and gas company Grupo Simples Oil will participate at African Energy Week (AEW): Invest in African Energy – taking place 4-8 November in Cape Town – as a Bronze Sponsor. Aligned with the theme, Energy Growth through an Enabling Environment, AEW: Invest in African Energy will showcase promising developments in the African energy sector while facilitating connections between investors and burgeoning opportunities across the continent.

Since its inception in 2005, Grupo Simples Oil has charted growth within the Angolan oil industry, delivering specialized products and services tailored to the local market. By blending local entrepreneurship with international expertise, Grupo Simples Oil has solidified its position as a key player in Angola’s energy landscape. During AEW: Invest in African Energy, the company is expected to provide insight into its investment agenda, outlining strategic operations and opportunities for partnerships.

AEW: Invest in African Energy 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 www.AECWeek.com for more information about this exciting event.

Grupo Simples Oil has been qualified by Angola’s national concessionaire for the extractives industry – the National Oil, Gas and Biofuels Agency (ANPG) – as both an operator and non-operator. The company became qualified during Angola’s most recent oil tender in January 2024 – which served as part of a six-year licensing round launched in 2019. This underscored the company’s strategic importance within Angola’s oil and gas sector. As per the qualification, Grupo Simples Oil secured operatorship for exploration and production rights in the onshore Kwanza Basin – extending to Block KON-06 – while the company maintains a strategic working interest in Block KON-09.

In addition to upstream activities, Grupo Simples Oil also specializes in offering comprehensive upstream well services, providing tailored solutions to enhance the reliability of wells throughout their lifecycle. The company is equipped with highly skilled and technically proficient personnel which ensures adherence to sustainable practices within the oil and gas sphere. As Angola aims to increase oil and gas production, these services will be instrumental in supporting strong and resilient operations.

“Grupo Simples Oil has demonstrated remarkable growth within Angola’s energy sector, embodying the spirit of local entrepreneurship and international collaboration. As one of Africa’s largest oil and gas producers, Angola has set ambitious targets to strengthen production and downstream operations. Companies such as Grupo Simples Oil will prove instrumental in supporting this growth,” states NJ Ayuk, Executive Chairman of the African Energy Chamber.

At AEW: Invest in African Energy, Grupo Simples Oil is poised to enrich discussions and foster meaningful partnerships towards a brighter energy future for Africa. The company’s sponsorship speaks to the commitment by Angolan oil and gas players to increase production and support long-term economic growth. For more information about how you can get involved in the event, visit www.AECWeek.com.

Distributed by APO Group on behalf of African Energy Chamber.