Energy Capital & Power’s Post

Farhat Bengdara, head of Libya’s National Oil Corporation (NOC), unveiled an $18 billion initiative to revitalize the nation’s oil sector through 45 new projects. Speaking with Reuters, Bengdara detailed plans for an imminent bidding round targeting major global oil companies, set to commence by year-end or early next year. Emphasizing NOC’s strategic operations nationwide, Bengdara stressed its autonomy and collaboration with various government bodies. He also highlighted NOC’s venture into solar energy for domestic use and potential exports to Europe, while recognizing the underutilized capacity of the #gas #pipeline to #Italy. Expressing confidence in Libya’s capacity, Bengdara aims to restore production to 1970s levels of 3.4 million barrels per day, shared at the International Energy Week in London. He anticipates significant participation from major oil firms in the forthcoming exploration rights tender. Libya’s exploration into solar energy aligns with global trends, aiming to diversify energy sources. With room for expansion in gas pipeline utilization, Libya aims to strengthen its role in the international energy market. NOC’s investment plan signals a turning point for Libya’s oil sector, aiming to surpass historical production levels, despite past setbacks from political instability and infrastructure challenges. The anticipated exploration tender signifies Libya’s progress in attracting international investment, fostering a more stable and attractive oil sector. These initiatives, coupled with diversification efforts, position Libya to leverage its vast energy resources for sustainable development and a strong position in the global energy landscape. #oilproduction #energía #energysector #libya #oilandgasindustry #petroleum #invesment #oilandgascompanies #oilandgasexploration #energymarkets #menaregion #oilprices #tankers

Farhat Bengdara, head of Libya’s National Oil Corporation (NOC), unveiled an $18 billion initiative to revitalize the nation’s oil sector through 45 new projects. Speaking with Reuters, Bengdara detailed plans for an imminent bidding round targeting major global oil companies, set to commence by year-end or early next year. Emphasizing NOC’s strategic operations nationwide, Bengdara stressed its autonomy and collaboration with various government bodies. He also highlighted NOC’s venture into solar energy for domestic use and potential exports to Europe, while recognizing the underutilized capacity of the #gas #pipeline to #Italy. Expressing confidence in Libya’s capacity, Bengdara aims to restore production to 1970s levels of 3.4 million barrels per day, shared at the International Energy Week in London. He anticipates significant participation from major oil firms in the forthcoming exploration rights tender. Libya’s exploration into solar energy aligns with global trends, aiming to diversify energy sources. With room for expansion in gas pipeline utilization, Libya aims to strengthen its role in the international energy market. NOC’s investment plan signals a turning point for Libya’s oil sector, aiming to surpass historical production levels, despite past setbacks from political instability and infrastructure challenges. The anticipated exploration tender signifies Libya’s progress in attracting international investment, fostering a more stable and attractive oil sector. These initiatives, coupled with diversification efforts, position Libya to leverage its vast energy resources for sustainable development and a strong position in the global energy landscape. #oilproduction #energía #energysector #libya #oilandgasindustry #petroleum #invesment #oilandgascompanies #oilandgasexploration #energymarkets #menaregion #oilprices #tankers

The government of the Republic of Congo (RoC) approved the terms and conditions last week for transferring shares or interests in petroleum contracts. Under the new conditions, the transfer of a company’s stake in an oil project in-country requires the approval of the Minister of Hydrocarbons. Transfers will occur during the first third of the oil permit’s duration, if the Minister grants special permission, serving to ensure companies commit to their projects for a significant period of time. The Minister of Hydrocarbons has 90 days to approve or reject a transfer request, and national oil company Société Nationale des Pétroles du Congo (SNPC) has a priority right to buy the shares before other parties. 👉 Full Article: https://lnkd.in/dxQ7MQRQ The government also has rules for selecting companies to be part of oil projects, aiming to make the process more transparent, mainly through competitive bidding, and boost public revenue by selecting contractors that provide the most economic benefit. Congo seeks to revitalize its oil and gas industry, aiming to attract more than $2.2 billion in foreign direct investment. 👉 Français: https://lnkd.in/decVchgT The Republic of Congo is getting ready to host the first ever Congo Energy & Investment Forum (CEIF) – set for March 25-26, 2025 in Brazzaville – supporting the country’s investment drive, bringing together local stakeholders with international investors to advance industry best practices, new project rollouts and regulatory enhancements. 🔎 Find out more about the Congo Energy & Investment Forum and be a part of shaping the future of Congo's energy landscape, visit: https://lnkd.in/dPR8kW3R #CEIF2025 #SustainableEnergy #EnergyInvestment #InvestInCongo #Congo #CongoInvestment #CongoEnergy #AfricanEnergy #AfricaInvestment

Algeria Launches 2024 Bid Round: Major Opportunities for International Oil and Gas Investors 🛢️🌍 Algeria has announced the launch of its 2024 Bid Round during the NAEPEC Conference in Oran, the first since 2014. This round aims to boost international investment in the hydrocarbon sector 💼, with improved 2019 fiscal terms designed to attract major oil companies, national oil companies (NOCs), and independents 🌍. In his speech, the president of ALNAFT emphasized the strategic opportunities 🛢️ available for both national and international investors, particularly in upstream oil and gas projects , focused on exploration and production. This bid round is the first of a series planned over the next five years 🗓️, offering investors long-term clarity on opportunities in Algeria's resource-rich mining sector. The 2024 bid round covers six blocks 🗺️ in different regions: El Mazayed, Ahara, Reggane 2, Zarafa 2, Tawal, and Qarn El Kassa. Major companies like Eni, TotalEnergies, Oxy, Repsol, Harbour Energy, and Equinor already have operations in Algeria, while ExxonMobil and Chevron are exploring entry into the market 🚀. With Algeria's vast hydrocarbon potential and a more favorable fiscal environment, this bid round is expected to attract significant interest and competition.

[WATCH] Dive into the action-packed highlights from Day 2 of the Invest in African Energy forum in Paris, with the theme ‘Enabling African Natural Gas & Energy Investments: Financing Transformative Project’. The event kicked off with Groupe PETROSEN announcing the commencement of production from Senegal's Sangomar oilfield, marking a pivotal step in the country's offshore oil industry. The forum glanced into ways to find investment opportunities in #Nigeria, focused on North Africa’s strategic insights looking at new offshore and onshore prospects. CLG sponsored the session labelled ‘New opportunities in growth markets’ which discussed ways of optimising the energy value chain through energy mix diversification, looked at gas monetisation strategies for economic development and opportunities for LNG export in the region through gas transportation infrastructure. African Energy Chamber Executive Chairman Mr. NJ Ayuk JD, MBA. alongside the Republic of Congo Minister of Hydrocarbons H.E Bruno Jean Richard ITOUA delivered the closing remarks of the forum which offered delegates intensive engagements, creating pivotal platform in promoting local content and developing energy solution for the future. H.E Bruno Jean-Richard Itoua also revealed the country's ambitious gas development strategy and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) relaunched Nigeria’s 2024 licensing round. Learn more here: https://hubs.la/Q02xm6K_0 #AfricanEnergy #Paris #France #InvestInAfrica #IAEParis2024 Energy Capital & Power

🇨🇬 Congo’s Minister of Hydrocarbons, Bruno Jean-Richard Itoua has recently signed a crucial deal with China’s Wing Wah Oil Company to accelerate oil production in the Banga Kayo block. With an objective of doubling oil production to 500,000 barrels per day (bpd), Congo is on track to demonstrate the impact of international partnerships in Africa's energy development. 🛢️ To learn more about this, click the link in the comments below! ⬇️ #OilandGas #Partnerships #AfricaEnergy #CongoEnergy

⚡As Angola takes the helm of the Southern African Development Community (SADC), President João Lourenço is championing a vision of regional self-reliance. His focus on industrialization and infrastructure, particularly in energy, aims to reduce the region's dependence on international aid. This leadership not only positions Angola as a key player in Southern Africa but also underscores its commitment to sustainable growth. Meanwhile, Angola's energy sector continues to attract substantial international investments. The upcoming Angola Oil & Gas (AOG) 2024 conference Energy Capital & Power in Luanda will be a pivotal event, featuring on-stage interviews with industry giants like #Sonangol, Chevron , TotalEnergies , ExxonMobil , and Azule Energy . With projects worth billions in the pipeline, these developments are set to reinforce Angola's status as a major hub for oil and gas in Africa. At Standard Angola Consulting Partners, we are excited to see Angola taking strides towards a prosperous and self-sufficient future. We remain committed to supporting the nation’s growth through innovative solutions and strategic partnerships. Get in touch on how we can partner, support or represent your interest in Angola, Africa. #Angola #SADC #Sonangol #Chevron #TotalEnergies #ExxonMobil #AzuleEnergy #OilAndGas #Energy #Leadership #AfricanDevelopment #CommercialOrganizations #CapitalMarkets #InvestmentFunds #AfDB #AfricanUnion #AOG2024 #AUDA #StandardAngola #Infrastructure #RegionalIntegration

Exploration | Angola is set to launch a bid process in early 2025 covering multiple blocks in the lightly explored Kwanza and Benguela basins. The move by ANPG, Angola's upstream regulator, aims to attract more investors to explore the nation's frontier plays, while encouraging suitors with production-focused strategies to develop long-untapped discoveries. ANPG Angola will open this limited tender process in the first quarter of 2025, according to the African Energy Chamber (AEC), although the agency’s door is already open for early enquiries ahead of the official launch. Keep updated with our insights and know the opportunities available in Angola, Africa. #OilAndGas #EnergyCapitalPower #AOG2024 #Angola #BusinessOpportunities #MarketResearch #InternationalBusiness #EnergySector #Africa #Investment #Networking #ANPG #EnergyTransition #SustainableDevelopment #ConsultingServices #Exploration #KwanzaBasin #BenguelaBasin #AfricanEnergyChamber

The African Farmout Forum at AEC African Energy Week : 2024 is not merely a transactional platform; it represents a catalyst for reshaping the African energy sector. By uniting key industry players and facilitating dynamic interactions, it sets the stage for investments and partnerships. Against the backdrop of increased M&A activity and the initiation of licensing rounds across Africa, this forum emerges as a pivotal space for forging strategic alliances, assessing investment opportunities and fostering transformative growth in the region’s energy landscape. Africa expects a slate of licensing rounds to be launched in 2024/2025, enabling exploration and production companies to tap into undeveloped acreage. #Nigeria recently launched its 2024 Deepwater Bid Round, offering 19 oil and gas blocks – including new and deep offshore assets – while the Democratic Republic of the #Congo is evaluating applications for its 2022 Bid Round, offering 24 onshore blocks. #Tanzania, #Uganda, #Somalia and #Kenya are also preparing for their respective licensing rounds, while #Angola will offer up to 10 blocks in its 2025 Limited Public Tender, aiming to increase oil and gas production to over 1.1 million barrels per day. Egypt is also set to launch an international bid round in the coming months, while Libya’s National Oil Corporation is preparing for a licensing round to ramp up oil production. Additionally, #Algeria is anticipated to launch its 2024 Bid Round, offering onshore blocks as part of its strategy to maximize its gas and LNG potential. Matt Tyrrell Christopher Moyes AEC African Energy Week

Angola's Minister of Mineral Resources, Diamantino Azevedo, and DRC's Minister of Hydrocarbons, Aimé Sakombi Molend, signed a co-development agreement for offshore Block 14, with a production capacity of 3.29 million barrels of oil per year. This collaboration, involving Chevron’s Cabinda Gulf Oil Company and Eni, aims to leverage Angola's experience in oil projects.    Jonathan Muya Adebayo J. Emmanuel Oduro-Boakye Milton Cordeiro Shabir Ahmed Michael Way Justin Cochrane Oveh Kpason Ikechukwu Promise Obialor Dakim Dung Petlong Dakhling Follow The African Energy Councilfor more energy news #OilAndGas #aecouncil #Angola #DRC #Block14 Energy #OilAndGas #SustainableEnergy #Hydrocarbons #EnergyTransition #NaturalResources #EnergyInnovation #OilProduction #GasIndustry #EnergySecurity