Global Business Reports (GBR)’s Post

Africa’s fuel and energy innovation. The power of collaboration! At the recent Angola Oil & Gas 2024 event, ExxonMobil and its partners made strides in exploration in the Namibe Basin. With two major discoveries in Bavuça South-1 and Likembe-01, this 18-well program showcases the importance of partnerships in driving innovation and securing future energy supplies. But what truly stands out is the collaborative spirit that made this possible. In partnership with Azule Energy, Equinor, and Sonangol, ExxonMobil’s 18-well program is not just about tapping into resources; it's about combining forces to push the boundaries of what's possible in energy exploration. This partnership represents a major opportunity for Africa's future. The continent is rich in untapped energy resources, opportunities like this drive economic growth, create jobs, and ensure more energy security across Africa. By fostering local content development, projects like these not only benefit global players but also help build capacity and expertise within African countries. Africa’s potential is vast. 

As Africa looks to develop its gas for domestic and export markets, the U.S. is honing in on LNG as a critical investment avenue, alongside traditional oil exploration. In October 2023, energy research and consultancy group Wood Mackenzie stated that Africa’s $800-billion, 20-year upstream capital expenditure program would result in world-class LNG projects in Mozambique and floating LNG (FLNG) in five countries, presenting substantial gas-driven opportunities for U.S. investors, operators, project developers and service providers. In Equatorial Guinea, U.S. operators and contractors are leading the country’s flagship Gas Mega Hub (GMH), which seeks to monetize all stranded gas fields in the Gulf of Guinea to facilitate an intra-African LNG trade. Mozambique is another strategic market for US gas investments, having passed $1 billion in LNG exports last November. Read the full article ⤵️ https://hubs.la/Q02lGx1W0 The upcoming Invest in African Energy (IAE) forum – taking place in Paris on 14-15 May – will showcase trade, partnership and investment opportunities available to U.S. companies across Africa’s energy supply chain. Secure your spot ⤵️ https://hubs.la/Q02lGny30 #IAE2024 #RoadtoAEW #investinAfrica Westwood Global Energy Group Chevron ExxonMobil bp Perenco Eni African Energy Chamber

As Africa looks to develop its gas for domestic and export markets, the U.S. is honing in on LNG as a critical investment avenue, alongside traditional oil exploration. In October 2023, energy research and consultancy group Wood Mackenzie stated that Africa’s $800-billion, 20-year upstream capital expenditure program would result in world-class LNG projects in Mozambique and floating LNG (FLNG) in five countries, presenting substantial gas-driven opportunities for U.S. investors, operators, project developers and service providers. In Equatorial Guinea, U.S. operators and contractors are leading the country’s flagship Gas Mega Hub (GMH), which seeks to monetize all stranded gas fields in the Gulf of Guinea to facilitate an intra-African LNG trade. Mozambique is another strategic market for US gas investments, having passed $1 billion in LNG exports last November. Read the full article ⤵️ https://hubs.la/Q02lGx1W0 The upcoming Invest in African Energy (IAE) forum – taking place in Paris on 14-15 May – will showcase trade, partnership and investment opportunities available to U.S. companies across Africa’s energy supply chain. Secure your spot ⤵️ https://hubs.la/Q02lGny30 #IAE2024 #RoadtoAEW #investinAfrica Westwood Global Energy Group Chevron ExxonMobil bp Perenco Eni African Energy Chamber

Ivory Coast's council of ministers has officially approved the signing of production-sharing agreements with Italian energy giant Eni This marks a significant milestone in the country's journey to becoming a key regional oil and gas producer. The agreements cover four crucial oil blocks—CI-504, CI-526, CI-706, and CI-708—with a commitment of $80 million in investment over the initial three-year exploration period. This step aligns with Ivory Coast's ambitious goal to triple its oil output by 2027, fueled by a series of recent discoveries. Eni which has deep roots in Ivory Coast dating back to the 1960s, recently began oil production at the Baleine field—home to an estimated 2.5 billion barrels of oil and 3.3 trillion cubic feet of natural gas. For more details, click the link in the comments below! ⬇️ #Energy #OilAndGas #IvoryCoast #Eni #Investment #WestAfrica #EnergySector

TotalEnergies is deploying a multi-year energy strategy in Angola – which includes the $850-million Begonia field development – while ExxonMobil could inject as much as $15 billion into the Namibe Basin following commercial success at recent discoveries. In total, an investment pipeline of $60 billion is projected for the country over the next five years, signaling a strong commitment by International Oil Companies (IOCs) to develop Angola’s oil and gas prospects. To provide direct insight into Angola’s oil and gas project portfolio, the Angola Oil & Gas Conference (AOG) conference – taking place October 2-3 in Luanda – will feature a series of In-Conversation with sessions. These on-stage discussions will bring together Angola's leading oil and gas operators – including TotalEnergies, ExxonMobil, Chevron, Azule Energy Etu Energias and Sonangol E.P.– and provide a unique platform for candid dialogue on the future of oil and gas development in the country. Full Story: https://hubs.la/Q02LHc5F0 Don't miss the Angola Oil & Gas Conference (AOG) 2024. Secure your Delegate Pass: https://hubs.la/Q02LHbWy0 #AOG #ECPNews #AfricanEnergy #InvestinAfrica

We are excited to announce that ExxonMobil will join the Mozambique Energy & Industry Summit 2024 as our Bronze Sponsor. ExxonMobil is one of the largest publicly traded oil and gas companies in the world, and also one of the largest oil and gas producers in Africa. ExxonMobil announced on Dec. 13, 2017 the completion of its acquisition of a 25 percent indirect interest in offshore Area 4. ExxonMobil will lead the construction and operation of all future natural gas liquefaction and related facilities, while Eni will continue to lead the Coral floating LNG project and all upstream operations. The deepwater Area 4 block contains more than 85 trillion cubic feet of natural gas, which will provide resources for a world-class LNG project in which the partners expect to invest tens of billions of dollars. ExxonMobil and its partners are jointly optimizing development plans and determining key milestones such as final investment decision (FID) and startup timing accordingly. The discovery of huge natural gas deposits has the potential to transform Mozambique. It paves the way for the country to become a leading regional LNG exporter and a major global energy player. Join executives from ExxonMobil and other leading organizations at the 3rd of edition MEIS taking place on 2-4 July in Cabo Delgado. #Partner #Annoucement #MEIS2024 #Energy #Industry #Mozambique

🚀 #Angola's Oil & Gas #Industry on the Rise! 🚀 Angola's #oil and #gas #sector is on a trajectory of rapid #growth, presenting substantial #investment #opportunities. The country is targeting a #sustained #production level of over one million barrels per day, driving exploration, development, and production activities. With up to $60 billion in investments expected over the next five years, this is a golden opportunity for international oil companies, independent E&Ps, service providers, and global investors. Don't miss the chance to hear directly from leading voices at TotalEnergies, Chevron, ExxonMobil, bp, Afentra PLC, and Etu Energias at the Angola Oil & Gas (AOG) Conference and Exhibition on October 2-3, 2024 in #Luanda. Gain valuable #insights into their investment plans and project outlooks for Angola. Secure your delegate pass now! #OilAndGas #Angola #InvestmentOpportunities #AOG2024 #EnergySector #GlobalInvestors

Angola aims to hold and increase oil production beyond 1.18 million barrels per day (bpd) while positioning the gas sector to account for 25% of the country’s energy needs by 2025. To achieve this, government is inviting investment into exploration and production, with industry reforms guaranteeing both a competitive and stable investment environment. Speaking at the CERAWeek conference in Houston this week, Angola’s Secretary of State for Oil and Gas José Barroso outlined the government’s vision to achieve energy security through oil and gas production. 👉 Read more: https://hubs.la/Q02qzpWC0 Barroso announced that the government will continue to promote investment opportunities through the continuous running of bid-rounds offering exploration licenses to qualified oil and gas companies while maintaining a robust outreach at major international oil and gas events and Angola’s premier industry event – the Angola Oil & Gas (AOG) conference, which takes place this year on October 2-4 in Luanda. Secure your spot and join us at #AOG2024 Register now: https://hubs.la/Q02qzk200 #OilandGas #InvestinAfrica #Investment #Luanda

Targeting a production upward of 220,000 barrels per day (bpd), Gabon is reinventing its oil and gas industry as operators launch new drilling and appraisal activities, apply the latest enhanced oil recovery techniques and invest in the establishment of a domestic gas network. Gabon’s optimization of mature and marginal assets, presents lucrative opportunities for global investors seeking to invest in a mature market which promising large-scale discoveries. The abundance of existing oil and gas infrastructure in-country means lower operational cost and reduced time to bring new projects online for investors. Read more ⤵️ https://hubs.la/Q02m28F00 At Invest in African Energy 2024 in Paris on 14-15 May – a two-day forum connecting global investors with Africa’s key energy developments – Gabon’s policymakers and industry players will showcase the vast investment and partnership opportunities available in the west African nation for global industry players. Secure your spot ⤵️ https://hubs.la/Q02m297J0 #IAE2024 #RoadtoAEW #investinAfrica #Gabon ##oilandgas BW Energy Perenco VAALCO Energy, Inc TotalEnergies CNOOC International Gabon Power Company (GPC) African Energy Chamber

Oil giants BP and Eni find way into Namibia’s prolific Orange basin Global oil super major, BP and Eni have struck a deal to take an operating stake in a highly prospective exploration licence in Namibia's Orange basin close to Galp Energia's huge Mopane discovery and next door to acreage where Shell has made five discoveries. Azule Energy , the 50:50 joint venture between BP and Eni which brings together their Angolan assets, has struck an agreement with privately owned Rhino Resources to enter Petroleum Exploration Licence 85 which covers Block 2914A. Representing the voice of the African energy sector, the African Energy Chamber (AEC) stands in support of Azule Energy’s venture into the Orange Basin, recognizing the value of the transaction in unlocking the full potential of the country’s oil and gas resources. The deal is a testament to the prospectivity of the basin as well as the high level of international interest in Namibia’s offshore oil and gas opportunities. #namibia #oil #gas #exploration Namibia Investment Promotion and Development Board (NIPDB) bp Eni NJ Ayuk JD, MBA. WOGEN Namibia Namibia Youth Energy Forum NAMCOR NAMIBIA https://lnkd.in/dDRAPngg