Energas West Africa CEO David Pappoe Jr. will speak at the Invest in African Energy (IAE) forum in Paris next month, spotlighting opportunities for local service companies within Africa’s growth markets.

The engineering and energy services firm provides turnkey engineering and consulting solutions for project developers across the entire oil and gas value chain. In addition to his role at Energas West Africa, Pappoe Jr. serves as the African Energy Chamber’s President for Ghana and Country Representative in Ghana for Egyptian Oil Services Company’s Petrographics. As a result, Pappoe Jr. is expected to weigh in on current opportunities for indigenous service providers within Africa’s fastest-growing energy markets, with a view to forging partnerships with international companies and securing high-value contracts.

Organized by Energy Capital&Power, IAE 2024 (https://apo-opa.co/49krKXM) is an exclusive forum designed to facilitate investment between African energy markets and global investors. 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. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

West Africa has seen a rise in upstream exploration activity in recent months – from Chevron’s infill drilling program in the Escravos area onshore Nigeria to Eni’s drilling campaign in Block CI-205 offshore Ivory Coast, which resulted in the Calao discovery. Nigeria alone is estimated to require 45 rigs drilling 426 wells in the next two years to reach its targeted production levels, generating a significant uptick in associated contract value for EPC, EPIC and other service agreements. IAE 2024 serves to connect operators with local and foreign service providers, facilitating networking and deal-making to support Africa’s broader energy industry growth.

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

Guido Brusco, Chief Operating Officer Natural Resources, Eni will speak at the 2024 edition of the Angola Oil&Gas (AOG) Conference&Exhibition – taking place October 2-4 in Luanda under the theme Driving Exploration and Development Towards Increased Production in Angola. Through Azule Energy – a joint venture with energy major bp – the company has an extensive footprint across the Angolan oil and gas market and is looking at accelerating investments across the value chain.

Eni announced at AOG 2023 that – alongside project partners – will make a $1 billion investment in the development of non-associated gas in Angola. The investment covers two offshore well platforms (the Quiluma and Maboqueiro fields), an onshore gas processing plant and a connection to the Angola LNG project and is underpinned by efforts to increase production to four billion cubic meters per day. During this year’s event, Brusco is expected to provide an update on project activities while engaging with Angolan and global counterparts on new opportunities.

AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; national oil company Sonangol; the National Oil, Gas and Biofuels Agency; the African Energy Chamber; and the Petroleum Derivatives Regulatory Institute, the event is a platform to sign deals and advance Angola’s oil and gas industry. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

With first gas planned for 2026, the Quiluma and Maboqueiro fields achieved FID in 2022. Spearheaded by the New Gas Consortium – in which Eni holds a 25.6% interest – the project will provide feedstock for the Angola LNG project, in which Eni holds a 13.6% stake. Currently, Angola LNG has a capacity to produce 5.2 million tons of LNG per year. Already exporting to global markets, the project is expected to support the development of associated sectors in Angola, including petrochemicals, agriculture and other industries.  

Notwithstanding gas investments, Eni – through Azule Energy – is also spearheading various oilfield developments. These include the PAJ Complex Conventional Oilfield, which is set to start commercial production in 2026. The project, located in Block 31, expects FID in 2024 and will involve the spudding of 10 wells and the development of an FPSO vessel.

Meanwhile, Eni and project partners on the Agogo Integrated West Hub Development anticipate first production by 2026. An additional FPSO will arrive at the project site this year, with a capacity to produce 120,000 barrels per day (bpd) of oil. The project is considered one of Angola’s largest, with 36 wells set to drilled, including 21 production wells and 15 injection wells.

In addition to oil and gas development, Eni is partnering with Angola’s national oil company Sonangol to identify opportunities in decarbonization. The partners are assessing the development of agro-industrial supply chains for the production of low-carbon fuels while exploring opportunities in biomass and green ammonia. An MoU was signed in 2023 to determine the scope of cooperation in these areas.

During AOG 2024, Brusco is expected to take part in discussions around increasing production in Angola. His participation and contributions are poised to strengthen the conversation on Angola’s oil and gas future, with topics such as decarbonization, investing in exploration and strategies for maximizing value from oil and gas set to be at the forefront.

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

Ahonsi Unuigbe, Founder and CEO of Nigerian exploration and production company Petralon Energy, will speak at the African Energy Week (AEW): Invest in African Energy conference – taking place from 4–8 November in Cape Town. During the event, Unuigbe will engage with global investors, showcasing Petralon Energy’s project pipeline and lucrative partnership prospects within Africa’s expanding oil and gas industry.

Petralon Energy inked a deal with logistics firm First Priority Resources International Limited in 2023 for the transportation of oil extracted from the Dawes Island Marginal Field to the Ajapa FSO offtake terminal. The arrangement aims to optimize the monetization of Nigeria’s energy resources across local and export markets for enhanced energy security and bolstered GDP growth. Petralon Energy’s accomplishments and growth strategy in Africa’s oil and gas sector will be outlined during AEW: Invest in African Energy this November.

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.

In recent years, Petralon Energy has been expanding its footprint across Africa, raising the required financing to acquire blocks and accelerate the development of assets. The company raised $60 million within six months in 2022 to fund the acquisition of stakes in two of Nigeria’s major producing deep-water blocks – OML 127 with 270 million barrels of crude oil (mmbbls) and OML 130 with 638 mmbbls in reserves. The deal strengthened the firm’s portfolio in Nigeria, which additionally includes operating interests in Block OPL 2006 and the Bonny Terminal, as well as non-operating stakes in the OML 127 and 130 blocks.

In Angola, Petralon Energy participated in an oil and gas bidding round in 2021, covering nine onshore blocks launched by the National Oil, Gas and Biofuels Agency – the country’s national regulator and concessionaire. Additionally, leveraging its expertise in the Nigerian market, the company is looking at expanding its presence in Africa even further through the acquisition of strategic assets. AEW: Invest in African Energy represents a critical opportunity for Petralon Energy to progress with this goal, promoting the country’s growth strategy.

“Petralon Energy has leveraged collaboration with global stakeholders, experience in financial markets and oil and gas industry know-how to drive the growth of Nigeria’s energy sector. The company will be crucial in bringing in fresh investments for Nigeria – as well as regional markets – to achieve energy security and industrialization targets,” stated NJ Ayuk, the Executive Chairman of the African Energy Chamber.

During AEW: Invest in African Energy, Unuigbe’s insights will be crucial for shaping conversations around the state of play of Africa’s oil and gas markets. Committed to promoting the role of Africa’s indigenous oil and gas operators, Petralon Energy’s mission to increase its presence across the continent will be supported through opportunities created by the AEW: Invest in African Energy conference. Petralon Energy is a Diamond Sponsor of the conference as well as sponsor of the Africa Energy Awards and Gala Dinner. Under the theme Energy Growth through an Enabling Environment, AEW: Invest in African Energy 2024 will host Unuigbe in panel discussions and exclusive networking sessions, focusing on investment prospects within Africa’s oil and gas value chain.

Distributed by APO Group on behalf of African Energy Chamber.

Special Representative Abdoulaye Bathily told the Security Council that since the end of 2022, UN-led efforts to resolve Libya’s political crisis have encountered national and regional pushbacks, “revealing an intentional defiance to engage in earnest and a tenacity to perpetually delay elections”.

Resignation tendered

Speaking to reporters at UN Headquarters outside the Council in New York following his briefing, the envoy confirmed reports that he had submitted his resignation to the Secretary-General.

He told ambassadors minutes earlier that “with a deep sense of disappointment, it is disheartening to witness individuals in positions of power putting their personal interests above the needs of their country.’

He emphasized the necessity for Libyan leaders to prioritize national interests over personal ones, urging them to reach a political settlement through negotiations and compromise.

“We cannot allow the aspirations of 2.8 million registered Libyan voters to be overshadowed by the narrow interests of a few,” he added.

Entrenched positions persist

Mr. Bathily told ambassadors the five key Libyan stakeholders – Mohamed Takala, President of the High Council of State; Abdul Hamid Dbeibeh, Government of National Unity Prime Minister; Agila Saleh, Speaker of the House of Representatives; General Khalifa Haftar, Commander of the LNA; and Mohamed al-Menfi, President of the Presidential Council – have not budged from their preconditions to attend the talks.

“Despite continuous and extensive engagement with the main institutional actors, their persistent positions are significantly impeding efforts to advance the political process,” Mr. Bathily remarked.

He also noted that the complexities were exacerbated by an “apparent agreement” between the Mr. al-Menfi, Mr. Saleh and Mr. Takala, according to a joint statement following a trilateral meeting in March in Cairo, with which the UN was not associated.

“My subsequent discussions with the leaders who participated in the Cairo meeting revealed diverging interpretations of and lack of details on its outcome. There is also lack of buy-in among those Libyan leaders who were not part of the meeting,” he said.

Economy ‘severely strained’

On the economic front, Mr. Bathily, who also heads the UN Support Mission in Libya (UNSMIL), highlighted a worsening economic situation and warnings by the Central Bank of an impending liquidity crisis.

He informed ambassadors of a temporary surcharge on official foreign currency exchange, combined with the declining value of the Libyan dinar and restricted access to foreign currencies, which has fuelled public anger amid growing concerns over rising prices for essential goods and services.

“It is imperative for Libyan authorities to address not only the symptoms but also the root causes of persistent harmful economic and financial practices,” the UN envoy said, calling on the authorities to promptly agree a national budget and better manage State resources.

Tense security situation

Mr. Bathily also highlighted a tense security situation in several parts of the country, including major cities like Tripoli and Misrata.

“The presence of armed actors and heavy weaponry in Libya’s capital is of strong concern as it constitutes a significant threat to the safety of the civilian population,” he warned, emphasizing that any escalation of tensions in Libya would exacerbate instability not only in Chad, Niger, and Sudan but also across the wider region of the Sahel.

He also voiced concern over the continuing plight of migrants as well as a sharp rise in abductions, disappearances, and arbitrary arrests against a backdrop of entrenched impunity that has undermined fundamental freedoms.

Distributed by APO Group on behalf of UN News.