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Focus On Congo Investment Forum: Entering the Next Era of Oil & Gas Production in Congo

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Italian oil major, ENI, has announced a significant oil discovery offshore Ghana, which is sited on the Eban exploration prospect CTP block 4. Meanwhile in Nigeria, the Minister of State for Petroleum Resources, Timipre Sylva, says Nigeria will start exporting petrol in 2023. Sam Chidoka, Managing Director of Kairos Capital joins CNBC Africa for more.

ENI makes significant oil and gas discovery offshore Ghana

Content provided by APO Group. CNBC Africa provides content from APO Group as a service to its readers and does not edit the articles it publishes. CNBC Africa is not responsible for the content provided by APO Group.

Today, climate activists marked Africa Day by staging protests at Total’s petrol stations. The protests took place in Benin, Togo, the Democratic Republic of Congo, Uganda, Kenya, Egypt, Ghana and Nigeria. The protests highlighted Total’s human rights violations, greenwashing strategies and climate inaction.

Total is involved in controversial projects across the continent, notably the East African Crude Oil Pipeline (EACOP) and the Mozambique Liquified Natural Gas (LNG) project that have witnessed displacement of local communities from their ancestral land as well as several human rights abuses other issues that have been called out by activists and frontline communities.

Vanessa Nakate, a Ugandan activist, said: “We cannot drink oil. This is why we cannot accept the construction of the East African Crude oil pipeline. It is going to cause massive displacement of people, destruction of ecosystems and wildlife habitats. We have no future in extraction of oil because it only means destroying the livelihoods of the people and the planet. It is time to choose people above pipelines. It is time to rise up for the people and the planet.”

Andre Moliro, DRC activist, said: “Total’s fossil fuel developments pose grave risks to protected environments, water sources and wetlands in the Great Lakes and East Africa regions. Communities have been raising concerns on the impact of oil extraction on Lake Albert fisheries and the disastrous consequences of an oil spill in Lake Victoria, that would affect millions of people that rely on the two lakes for their livelihoods, watersheds for drinking water and food production.”

Landry Ninteretse of 350.org said, &#8220;At a time when the international scientific community is telling us that the world cannot absorb any new fossil fuel developments if we are to tackle the climate crisis, Total is still pushing for the construction of highly controversial pipelines such as the East African Crude Oil Pipeline and the Mozambique LNG that threaten to destroy the livelihoods of tens of thousands of people, while affecting a great portion of diverse ecosystems and adding millions of tons of carbon emissions yearly.”

Earlier in the year, more than 260 African and international organisations sent an open letter (https://bit.ly/3fjfi0D) to 25 banks urging them not to finance the construction of the EACOP. Total issued statements on its website describing its environmental and social risk assessment and mitigation strategies for the EACOP and Tilenga oil extraction project as “rigorous” (https://bit.ly/2SrCUr6) and claiming to act “responsibly and transparently” (https://bit.ly/3wwNCuZ) on the social and environmental issues related to the projects.
The #StopEACOP Alliance went ahead to issue a statement (https://bit.ly/3vonX7Q) clarifying several misleading figures presented by Total such as the number of oil wells to be drilled within Murchison Falls National Park, and the number of project-affected people for Tilenga and EACOP.
Total seeks to position itself as a climate leader but chooses to ignore the massive climate risks posed by going ahead with its fossil fuel projects across Africa.
Distributed by APO Group on behalf of 350.org.
For interviews and additional information contact: 350Africa.org Christine Mbithi Email: christine.mbithi@350.org Telephone: +254725906695
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Hundreds protest against TOTAL across Africa

Content provided by APO Group. CNBC Africa provides content from APO Group as a service to its readers and does not edit the articles it publishes. CNBC Africa is not responsible for the content provided by APO Group.

Hosted by, and produced in partnership with NVentures, this edition features five offshore asset presentations from leading independents: Africa Energy Corp, VAALCO Energy, Impact Oil &#038; Gas, Heritage Oil and Eco Atlantic. All five centre around prospective opportunities offshore Africa, from Equatorial Guinea to Southern Africa; a region which has recently been in the industry spotlight for its high-profile discoveries and deepwater plays – signalling the possibility of further groundbreaking reserves.

Each presentation gives an in-depth look into the asset or portfolio opportunity, including: license details, exploration history, available data, farm-in process and timelines.

The presentations include:

 	Garrett Soden, President, CEO &#038; Director of Africa Energy Corp presents their portfolio of world-class assets offshore Southern Africa 	David DesAutels, EVP Corporate Development at VAALCO Energy presents high-value opportunities across Block P, offshore Equatorial Guinea 	Philip Birch, Exploration Director at Impact Oil &#038; Gas presents their targeted billion-barrel portfolio 	David McGurk, Exploration Director at Heritage Oil, presents their drill-ready, low-risk exploration opportunity lying at the heart of a world-class petroleum system 	Selma Usiku, Senior Geologist at Eco Atlantic Oil &#038; Gas; presents highly prospective opportunities in the Walvis Basin, offshore Namibia. 
For 2021, AOW looks forward to hosting a full day’s programme of the Africa Independents Forum, as we welcome 20+ Independents to the Main Stage to present world-class farm-ins and the hottest asset opportunities from across the continent.

Partners of AOW’s Africa Independents Forum include: NVentures and Farmout Finance Forum.

To access the digital edition of the Africa Independents Forum, click here (https://bit.ly/3fIaLEb).
Distributed by APO Group on behalf of Africa Oil Week.
For more information, please contact: Shelby O’Brien Africa Oil Week Email: Shelby.OBrien@hyve.group
About Africa Oil Week: Africa Oil Week (www.Africa-OilWeek.com) is the voice of E&#038;P and aims to power the sustainable future of the Africa upstream. Now entering its 27th year of the show, the event brings together governments, national and international oil companies, independents, investors, the G&#038;G community and service providers.
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To celebrate Africa Day, Africa Oil Week launches an exclusive digital, pre-event edition of the Africa Independents Forum, showcasing prospective offshore opportunities across Africa

Content provided by APO Group. CNBC Africa provides content from APO Group as a service to its readers and does not edit the articles it publishes. CNBC Africa is not responsible for the content provided by APO Group.

Energy Capital &#038; Power (www.EnergyCapitalPower.com) – Africa’s leading energy event organizer – has reaffirmed its commitment to hosting events in Africa, as some organizers relocate overseas; Africa Energy &#038; Mining 2022 Conference &#038; Exhibition will be held in Cape Town on March 29-31, with an in-person and online Africa Energy &#038; Mining seminar to be held in Cape Town in November 2021 to set the agenda; The Africa Energy &#038; Mining series will explore emerging synergies between mining and energy in a post-COVID-19 environment, with a view to facilitating a continent-wide energy transition.

nergy Capital &#038; Power (ECP) is doubling down on its commitment to an Africa-focused 2021/2022 events calendar – citing the role of local capacity-building and investor engagement in enabling an African energy transition – ahead of its Africa Energy &#038; Mining (AEM) Conference &#038; Exhibition in Cape Town next March and an AEM online and in-person seminar and networking event in Cape Town in November.
As the energy sector faces systemic change, the success of the African continent in navigating a clean energy transition rests on its ability to mobilize domestic resources, establish local and regional value chains and chart its own path. This has led the event organizer to renew its pledge to building networking and deal-making opportunities on the ground, as well as restructure its flagship pan-African energy conference earlier this year into a more integrated and inclusive program. 
Under the theme, “Investing in the World’s Future Energy Value Chain,” AEM 2022 will unite the entire mining and energy value chain, exploring the role that renewables play in advancing Africa’s mining sector, as well as the value of mining in facilitating a continent-wide energy transition. While the events in November and March represent a continuation of ECP’s Cape Town conference series, AEM has expanded the scope to include investment opportunities across oil and gas, mining, power and renewables, along with emerging industry segments such as energy storage and hydrogen.
“Our unwavering commitment to the continent means that a pan-African energy event must take place in Africa,” says Kelly-Ann Mealia, Chairperson of ECP. “We support South Africa’s economic recovery and believe in positioning African innovation and resources at the heart of the energy transition. There is no better place to do this than Cape Town. We are continuing to invest in Africa’s future through our events, which unite leading industry players and decision-makers from across the continent. Unlike other event organizers, we are committed to working with the African public and private sectors to drive progress from within our key markets.”
“In recent weeks, we have seen promising signs from our government signaling expedited vaccine rollouts, streamlined safety protocols and a forthcoming return to professional events,” says Liam Beattie, Managing Director of HOTT3D, ECP’s exhibition partner. “With the support of the private sector and event industry associations such as the South African Events Council (SACIA), South Africa can declare itself reopen for business and compete with global venues in organizing professional, international events safely. In driving a post-COVID-19 recovery, now is the time to double down on – not withdraw from – the continent and enable the growth and survival of its events industry.”
The AEM event in November will gather southern African and pan-African delegates to set key agenda points, including but not limited to, energy storage, battery metals, and the future of African mining; the role of natural gas in Africa’s economies and new petroleum exploration; Africa as a global LNG leader; the future of African power grids and utilities; funding for gas-to-power projects; independent power producers, privatized power and Africa-wide electrification; the hydrogen revolution; and electric vehicles.
 Distributed by APO Group on behalf of Energy Capital &#038; Power.
To learn more about the Africa Energy &#038; Mining series and the post-COVID-19 energy and mining landscape in Africa, please visit www.EnergyCapitalPower.com. For sponsorship or exhibition opportunities, please contact sales@energycapitalpower.com.
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Energy Capital & Power stands by African Energy Events ahead of Africa Energy & Mining Conference

Content provided by APO Group. CNBC Africa provides content from APO Group as a service to its readers and does not edit the articles it publishes. CNBC Africa is not responsible for the content provided by APO Group.

By NJ Ayuk, Executive Chairman, African Energy Chamber (www.EnergyChamber.org)

On May 18, 2021, the International Energy Agency (IEA) released “Net Zero by 2050: A Roadmap for the Global Energy Sector,” which outlines plans for the global energy sector to reach “net zero” greenhouse gas emissions by 2050.
Achieving net zero emissions means the amount of greenhouse gases being emitted into the atmosphere would equal the amount being removed. Achieving this balance, the IEA maintains, would require more than aggressive carbon-capture measures: It would call for a swift and immediate shift from petroleum energy sources to energy provided through naturally replenished sources like wind, water, and solar power.
From an environmental standpoint, this is a great concept.
But we live in reality. And today, in real-world Africa, this goal is not feasible. Nor is it advisable. While I agree with their data on many topics, the IEA’s conclusion is flat-out wrong on this issue. Africa needs oil and gas.
Unreasonable Objectives
Some of the critical steps in IEA’s roadmap include:
 	No new investment in new fossil fuel supply (including oil and gas) after 2021 	No new sales of fossil fuel boilers after 2025 	No new internal combustion engine (ICE) car sales after 2035 globally 	60% of car sales are electric by 2030, and 50% of heavy truck sales are electric from 2035 
These steps assume a lot about the state of the world — assumptions that are faulty, especially for Africa. For one, it will require universal energy access by 2030, meaning that everyone has access to electricity and clean cooking. And with approximately 592 million Africans currently without this access, we’re going to be hard-pressed to flip that switch in less than 10 years.
The IEA’s roadmap to net zero also relies on unprecedented investments in renewables — a substantial boost in clean energy investments from the $1 trillion made over the last five years all the way up to $5 trillion annually by 2030 — and cooperation from policymakers who are unified in their efforts. In this idyllic partnership, our Western counterparts talk a good game. But the fact is, to date, these same Western countries have invested little to no funding into Africa&#39;s renewables space. To our dismay even the International Oil Companies that have tried to accept the IEA’s publicity stunt have little or no renewable projects in Africa.
“For many developing countries, the pathway to net zero without international assistance is not clear,” OPEC wrote in response to IEA’s roadmap release, issuing a “critical assessment” on the very same day. “Technical and financial support is needed to ensure deployment of key technologies and infrastructure. Without greater international co‐operation, global CO2 emissions will not fall to net zero by 2050.”
As I have stated in the past, demonizing energy companies is not a constructive way forward, and ignoring the role that carbon-based fuels have played in driving human progress distorts the public debate. We cannot expect African nations, which together emitted seven times less CO2 than China last year and four times less than the US, according to the Global Carbon Atlas, to undermine their best opportunities for economic development by simply aligning with the Western view of how to tackle carbon emissions.
Creating New Problems
China, meanwhile, appears willing to continue investing in fossil fuel projects in Africa. This means that to keep their nations energized, African governments will have little choice but to partner with China — whose performance is notoriously poor when it comes to environmental protection, despite having signed the Paris climate accord. In this scenario, China will become the most influential entity in the African oil and gas industry. And giving China (or any foreign entity) such a monopoly is a dangerous play.
For the IEA plan to work, no new oil and natural gas fields would be developed. The potential energy security risk here is twofold: Concentrated production means that demand will exceed the supply of traditional fuels, while new energy security issues emerge related to the new technologies such as cybersecurity and a dwindling supply of rare earth and critical minerals. And energy insecurity brings economic insecurity and geopolitical instability.
At the same time, a ban on fossil fuel production would bring about the collapse of many carbon-dependent governments. The oil industry is the primary source of income for many African nations. Without the continuation of petroleum production — or time and opportunities to cultivate new revenue sources — their economies will suffer — along with their citizens.
Interestingly, the very announcement of this roadmap features an admission by IEA Executive Director Fatih Birol that net zero will unhinge socioeconomic structures.
“This gap between rhetoric and action needs to close if we are to have a fighting chance of reaching net zero by 2050 and limiting the rise in global temperatures to 1.5 °C. Doing so requires nothing short of a total transformation of the energy systems that underpin our economies,” Birol wrote.
And many of the world’s economies cannot bear this.
Excellent Points from Australia
Energy officials from Australia, for example — incidentally, one of the IEA member countries —  had plenty to say in response.
“There are many, ways to get to net zero, and the IEA just looked at one narrow formula,” said Australian Petroleum Production and Exploration Association chief Andrew McConville. “The IEA report doesn&#39;t take into account future negative emission technologies and offsets from outside the energy sector — two things that are likely to happen and will allow vital and necessary future development of oil and gas fields.”
In urging policymakers to maintain a degree of skepticism about the wisdom of the IEA roadmap, McConville isn’t alone.
“We are bringing emissions down,” stated Angus Taylor, Australia’s Minister for Energy and Emissions Reduction, “but we’re going to do it in a way that ensures we’ve got that affordable power that Australians need.”
Rather than being dictated to by entities abroad, Taylor argued that Australia must proceed at a pace that makes sense locally. And part of these local considerations includes ensuring that people have energy and jobs. The IEA’s call to cease investment in fossil fuels will impede both of these metrics.
“Global gas demand is forecast to grow by 1.5% on average per year out to 2025, providing incentive to ensure our large gas fields … are developed as soon as possible,” said Keith Pitt, Minister for Resources. “Large upcoming offshore developments … will create thousands of new high-wage jobs.”
Africa’s Realities
The same holds true for African countries.
While environmental causes are a major focus in the West, lawmakers in Africa’s developing countries are more concerned with living wages and supplying basic necessities to the continent’s growing population.
The IEA plan amounts to austerity measures that would see Africans leaving petroleum resources in the ground. It would essentially brand poor Africans criminals — or at the very least enemies of the environment — for using fossil fuels.
This is folly. Let’s keep in mind the critical role that natural gas is playing in the global transition to clean energy: It’s an affordable and reliable bridge to renewables. And natural gas is particularly important to Africa. As I’ve written in the past, the African Energy Chamber’s 2021 Africa Energy Outlook report projects that African gas production and consumption are going to rise in the 2020s. As a result, Africa’s natural gas sector will soon be responsible for large-scale job creation, increased opportunities for monetization and economic diversification, and critical gas-to-power initiatives that will bring more Africans reliable electricity. These significant benefits should not be dismissed in the name of achieving net zero emissions on deadline. To tell African countries with gas potential like Mozambique, Tanzania, Equatorial Guinea, Nigeria, Senegal, Libya, Algeria, South Africa, Angola and many others that they cant monetize their gas and rather wait for foreign aid and handouts from their western counterparts makes no sense.
What’s more, we can’t overlook the fact that renewable energy solutions are still young technologies —they are less reliable and more expensive per unit of power than tried-and-true petroleum products. Not only that, but achieving net zero by 2050 would require widespread adoption of technologies that are not even available yet.
Don’t get me wrong: I understand the importance of working toward renewables. I believe they are the future of the energy industry. But the global energy transition must be inclusive, equitable, and just. Unfortunately, the roadmap laid out by the IEA is none of these.
The IEA is a respected institution whose opinions help shape the rhetoric of the global energy market. So instead of mandating these strict guidelines from abroad, the IEA should try working with African countries to find solutions that we can actually abide. At the very least, I encourage the IEA to consider partnerships with African Private sector and financial institutions, whose collaboration with indigenous and international energy stakeholders provides invaluable insight from all sides across the energy industry. The IEA should use its voice to push for what I have always believe Africa needs the most at this time,  free markets, personal responsibility, less regulation, low taxes, limited government, individual liberties, and economic empowerment will boost African energy markets and economies.
Africa deserves the chance to capitalize on its own oil and gas to strengthen itself, rather than being bullied onto a path determined by Western institutions that don’t face the same obstacles. We must be able to improve our energy sector by exploring our continent’s full potential in a way that benefits our people.
Distributed by APO Group on behalf of African Energy Chamber.
Media files

Net Zero? Not For Africa. Not Yet. Africa Must Fight Energy Poverty with Oil and Gas Development (By NJ Ayuk)

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In recent weeks, the Nigerian National Petroleum Corporation announced the selection of various firms for two of its main contracts; the Direct sale, Direct Purchase contract and the Crude-for-Fuel Swap Contract. Oyeyemi Oke, Oil and Gas lawyer and a Partner at A02 Law joins CNBC Africa for more.

Nigeria selects firms for key oil contracts

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A key element of the project is the crude oil export pipeline to run from Uganda to the Indian Ocean at Tanga.

EAC oil agreement: Here’s why it’s a big deal for Tanzania

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Fifteen years after discovering commercially-viable crude oil deposits, Uganda begins its final journey to production with the signing on of a landmark deal with Tanzania and French oil company Total. The deal, which is expected to unlock upwards of $15 billion in investments, was signed in Kampala yesterday. Elison Karuhanga, Partner with KAA Advocates joins CNBC Africa for more.

Tanzania-Uganda oil deal:  What’s in it for Uganda?

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Nigeria’s Minister of State for Petroleum Resources, Timipre Sylva says the heavily criticised plan by the government to resume fuel importation from its neighbour Niger Republic, should not be seen as an embarrassment’ but as a means of promoting intra-regional trade. In the same breath, the National Petroleum Corporation (NNPC) says Nigeria would be a net exporter of petrol by 2023. Joining CNBC Africa for more is Oyeyemi Oke, Oil and Gas Lawyer and Partner at A02 and Kayode Akindele, Partner at TIA Capital.

Nigeria’s downstream sector sees renewed activity

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The Economist Intelligence Unit has reported that foreign direct investment flows into Sub-Saharan Africa will fall by 30 per cent this year, with oil and gas producers facing the biggest knock. Pat Thacker, Editorial Director of India, Middle East &#038; Africa at the Economist Intelligence Unit joins CNBC Africa for more.

EIU forecasts 30% decline in FDI flows into SSA in 2020

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Capital imported to Nigeria’s oil and gas sector in the first quarter of the year was about 10.1 million dollars according to data by the National Burea of Statistics. The bureau also says the oil and gas sector grew by 5.06 per cent, recording an average oil daily production of 2.07 million barrels per day in the same quarter. Oyeyemi Oke, Oil and Gas Lawyer and a Partner at A02 Law joins CNBC Africa for more.

COVID-19 headwinds weigh on Nigerian oil companies

JOHANNESBURG, Feb 24 (Reuters) &#8211; South African petrochemicals group Sasol reported on Monday a 74% drop in interim profit, weighed down by problems at its Lake Charles Chemicals project (LCCP) in the United States and softer chemical and Brent crude oil prices.



Difficulties at the Lake Charles project, which is costing billions of dollars more than initial estimates, have led to the resignation of the company&#8217;s joint chief executives late last year.



&#8220;The financial results were impacted mostly by a weak macroeconomic environment, which resulted in lower margins, and the LCCP being in a ramp-up phase,&#8221; Sasol said.



Headline earnings per share, the main profit measure, for the six months ended Dec. 31 fell to 5.94 rand ($0.40) from 23.25 rand a year earlier.



Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) fell 27% to 19.6 billion rand.



LCCP hurt EBITDA by 1.1 billion rand, and the plant resulted in 1.7 billion rand in depreciation charges.



Sasol said revenue from the Louisiana plant, which converts natural gas into plastics ingredient ethylene, did not yet match its project costs. However, the company expects the facility to generate positive EBITDA in the second half of the year.



The company said LCCP&#8217;s overall project completion was at 99% at the end of December. Investigations into a fire at one of the units at the LCCP plant in January revealed that a piping support structure within the emergency vent system failed during commissioning, causing a pipe to dislodge.



Sasol, the world&#8217;s top manufacturer of motor fuel from coal, said no major equipment was damaged, and the incident was isolated but beneficial operation of the unit would be delayed to the second half of 2020.



The overall cost estimate for LCCP is tracking $12.8 billion, within its previous guidance of $12.6 billion to $12.9 billion.



The LCCP was expected to cost $8.9 billion in a 2014 forecast. ($1 = 14.9945 rand) 



(Reporting by Tanisha Heiberg; Editing by Muralikumar Anantharaman and Maju Samuel)

GettyImages-71007872

South Africa’s Sasol half-year earnings fall 74%, here’s why

<ul class="wp-block-list"><li>Saudi oil output edges lower</li><li>Nigeria cuts supply but still exceeds quota</li><li>Angolan output posts biggest rise after maintenance</li><li>Output by country, compliance:</li></ul>



By Alex Lawler



LONDON, Jan 6 (Reuters) &#8211; OPEC oil output fell in December as Nigeria and Iraq adhered more closely to pledged reductions and top exporter Saudi Arabia made further cuts ahead of a new production-limiting accord, a Reuters survey found.



On average, the 14-member Organization of the Petroleum Exporting Countries pumped 29.50 million barrels per day (bpd) last month, according to the survey. That is down 50,000 bpd from November&#8217;s revised figure.



Crude prices have rallied to above $70 a barrel in 2020, extending a 23% gain in 2019, supported by ongoing OPEC-led curbs and increased Middle East tensions after the killing of a top Iranian general. This has increased concern of conflict that could further cut supply.



&#8220;Looking ahead, geopolitical risks will remain front and centre of investor concerns,&#8221; said Stephen Brennock of oil broker PVM.



&#8220;A tense waiting game has begun to see if the fallout will lead to a disruption in regional oil supplies.&#8221;



OPEC, Russia and other allies, known as OPEC+, had an agreement to reduce supply by 1.2 million bpd in 2019. OPEC&#8217;s share of the cut was about 800,000 bpd, to be made by 11 members, with exemptions for Iran, Libya and Venezuela.



At meetings in December, OPEC+ agreed to make an additional cut of 500,000 bpd as of Jan. 1, 2020.



The 11 OPEC members bound by the agreement easily exceeded the pledged cuts, thanks in large part to Saudi Arabia and its Gulf allies cutting more than called for to support the market.



The December survey suggests Nigeria and Iraq, both laggards in making cuts in 2019, achieved some progress. Compliance rose to 158% in December, the survey found, from 153% in November.



NIGERIAN DROP



OPEC&#8217;s largest production drop of 80,000 bpd was in Nigeria, which exported less crude according to ship-tracking data and loading schedules.



Much of this decline came from reduced shipments of Bonga crude, which traders say has been undergoing maintenance.



OPEC&#8217;s two top producers, Saudi Arabia and Iraq, each reduced output by 50,000 bpd. This puts Saudi supply more than 500,000 bpd below its 2019 target. Iraq&#8217;s compliance, at 59%, is far lower than Saudi Arabia&#8217;s but is up from 23% in November.



The United Arab Emirates made a further voluntary curb in December, while Kuwaiti output was steady.



Among countries pumping more, the largest increase was in Angola, which boosted exports after maintenance affecting the Girassol crude stream had curbed supplies.



Venezuela, which is contending with U.S. sanctions imposed on state oil firm PDVSA and a long-term decline in output, managed a small boost to supply with exports increasing in December.



Production from the other two exempt producers Libya and Iran edged lower.



The Reuters survey aims to track supply to the market and is based on shipping data provided by external sources, Refinitiv Eikon flows data and information provided by sources at oil companies, OPEC and consultants.



(Additional reporting by Rania El Gamal; Editing by David Evans)

OPEC oil output slips in December as Nigeria, Iraq comply more

30 ministries are taking part this
year, with over 20 presenting. This is the best chance to get insider knowledge
on key opportunities, legislation changes, bidding rounds and more – direct
from the companies and government intimately involved in leading them.



Here are some highlights of the
National Roadshows and Bidding Rounds happening this year at Africa Oil Week: 



Sierra
Leone



Sierra Leone will be announcing
details of a new bidding round at Africa Oil Week 2019.



Led by the Minister of Mineral
Resources Hon. Foday Rado Yokie and Timothy Kabba, Director General of the
Petroleum Commission of Sierra Leone, and supported by Jonathan Copus, CEO of
Getech, the nation’s delegation will be announcing the opening of a fresh round
of exploration rights.



Only eight wells have been drilled
there since 1982, with the latest coming from Lukoil in 2013, following three
wells drilled by Anadarko (now Occidental) in 2009, 2010 and 2012.



Cameroon



The world of African oil &amp; gas
legislation requires closer scrutiny as new changes emerge. Cameroon is one
nation that has recently made changes to its Petroleum Code.



Jean-Jacques Koum, Advisor for SNH
will present on how these changes will provide greater scope for operators,
investors and the wider finance community to find new ground in Cameroon.



One of the key changes is tax
holiday for oil and condensate development, and a further seven years for gas
development. What’s more, production sharing contracts (PSCs), can be modified
to allow companies to recuperate “exploration expenses” from production based
on Cameroonian on or offshore acreages.



Somalia



The Horn of Africa is open for
business. Somalia’s Petroleum Law and Revenue Sharing Agreement entered force
in May 2019. The nation also unveiled its inaugural offshore licensing round.



Keynote speaker Hon. Abdirashid
Mohamed Ahmed, Somali Minister of Petroleum and Mineral Resources, will lay out
the future of Somali oil &amp; gas for an international audience of financiers
and operators this November.



“This year is a landmark year in the
development of Somalia’s natural resources,” Minister Ahmed said. “The Ministry
has worked successfully with the federal member states to create and equitable
and transparent framework to develop natural resources for the greater good of
Somalia.”



Nigeria



No continental hydrocarbons summit
would be complete without representatives from Africa’s largest oil producer.
Hon. Timipre Marlin Sylva and Melee Kolo Kyari, GMD, NNPC will be leading the
Nigerian delegation, and Bala Wunti, Group General Manager, Corporate Planning
and Strategy, NNPC, is on hand to give the latest updates and opportunities
from Nigeria.



Nigeria continues to attract
significant international attention. According to the NNPC, China is emerging
as one of its key partners. Data from the NOC reveals that Chinese investments
in Nigeria’s oil sector have reached $16bn.



Even so, the nation is aiming at 70%
indigenous participation in oil &amp; gas projects by 2027, so there’s a lot of
interest in how Nigeria’s hydrocarbons sector will develop in the coming years.



Mozambique



Mozambique represents 23% of all
future African capEx, making it the second largest recipient of investment
anywhere in the continent going forward. In particular, natural gas projects
are set to receive a major boost – up to a potential $50bn in capital
expenditure.



Following on the from the success of
significant large-scale projects like Anadarko’s $20bn Mozambique LNG project,
players from across the globe are turning towards Mozambique with great
interest. A proposed $5bn EXIM bank loan to fuel further development is only
making the nation more attractive for investors.



Forming part of the Africa Oil Week
2019 National Roadshow programme is a look at Mozambique and the promise it
holds for international players.



Two of the key players helping
transform Mozambique’s oil &amp; gas industry into something truly world class
are speaking at Africa Oil Week this year. Chairman of the INP, the National
Petroleum Institute, Carlos Zacharias will be there to discuss his country’s
ongoing development, alongside NOC ENH’s CEO Omar Mithá.



23
nations presenting at Africa Oil Week



This is just a handful of the
African countries showcasing their latest news, investment opportunities, and
more at the continent’s leading summit.



Be sure to check out the Prospect Forum, which features additional governmental presentations, as well as our Ministerial Panels on the Tuesday and Wednesday on our Main Plenary Stage. To find out more, see the full Africa Oil Week agenda.



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Why Africa Oil Week is the place for major national roadshows in the oil & gas sphere

MAPUTO (Reuters) &#8211; U.S. energy giant Exxon Mobil will finalise its investment in Mozambique&#8217;s lucrative liquefied natural gas fields in a signing ceremony on Tuesday, the African country&#8217;s government said via state television. 



Exxon&#8217;s Rovuma LNG project, jointly operated with Italian firm Eni, will produce, liquefy and sell natural gas from three reservoirs located in the Area 4 block offshore Mozambique&#8217;s northern coast. 



Exxon estimates the fields, which are due to come on line in 2024, will cost $30 billion to develop. 



State television news channel TVM on Sunday said the Ministry of Mineral Resources and Energy would host a signing ceremony with Exxon and other firms in the capital Maputo on Tuesday. 



Exxon has said it expects 17,000 tons of liquefied petroleum gas (LPG) per year during the production phase, with the signing of an initial investment decision paving the way for the massive infrastructure project to begin. 



The gas fields are located off the coast of the northern Cabo Delgado province, which for the last two years has seen intensifying attacks on surrounding communities and government buildings by an extreme Islamist militant group.



In February Texas-based petroleum firm Anadarko said one worker was killed and several others injured in two related attacks in the Cabo Delgado area where it is building a 17,000-acre liquefaction complex. 



(Reporting by Manuel Mucari; writing by Mfuneko Toyana; Editing by Kirsten Donovan)

US gas giant Exxon to finalise LNG investment in Mozambique next week, what you need to know

Cape Town is set to host a record-breaking 29 global ministers at the 26th Africa Oil Week (AOW) summit this November. The event will act as a platform for governments to lay-out national strategies, issue licences, finalise tenders and find new partners. AOW Director of Government Relations and Strategic Partnerships Paul Sinclair commented “this year is a watershed moment for ministerial participation in AOW. We have witnessed a growing appetite at government level for the mutual exchange of ideas, energy diplomacy and the forging of new partnerships that will drive forward Africa’s social and economic development and energy security – actions which are increasingly necessary given the transformational era in which we are living.”  



The summit comes at a turning-point for
South Africa in its energy journey. In the wake of Total’s first significant
deep-water oil find in the country earlier this year, and the recent purchase of
offshore exploration blocks by Shell, politicians are preparing for further oil
and gas investment, which could be instrumental in improving the country’s
shaky economic outlook.



Gwede Mantashe, Minister of Mineral
Resources and Energy, will lead the South African national delegation. Western
Cape Minister for Finance and Economic Opportunities David Maynier and Premier
Alan Winde will seek to promote their province to global investors in the
event’s new South Africa Showcase day. 



Among those attending Africa Oil Week for
the first time is Somali Minister of Energy, Abdirashid Mohamed Ahmed. Following
the signing of a new Petroleum Law and Revenue Sharing Agreement in May, and
the unveiling of the country’s first ever offshore licensing round (15 blocks
covering 75,000 sq. km), the Horn of Africa nation is keen shake off past woes and
demonstrate that it is open for business. Mr Ahmed commented, “this year is a
landmark in the development of Somalia’s natural resources…the Ministry has
worked successfully with the federal member states to create an equitable and
transparent framework to develop natural resources for the greater good of
Somalia”.&nbsp; 



As well as emerging players, the summit
will host established producers, including Algeria’s Energy Minister Mohamed
Arkab. After a period of upheaval for the North African nation, Algeria is now
ready to cement itself as a global energy powerhouse. It currently has the
10th-largest proven gas reserves in the world – which will prove instrumental
in the global push towards LNG as a cleaner fuel. Since his appointment, Mr
Arkab has prioritised the drafting of a new petroleum law, as well as
committing to modernise the country’s oil and gas infrastructure. Communicating
these changes will be Mr Arkab’s top priority at Africa Oil Week, where he will
participate in a live CNBC Africa Ministerial Panel alongside his counterparts
from Tunisia, Equatorial Guinea and Uganda. 



Alongside a roster of African governments, Africa
Oil Week will have global presence from the US and UK governments, with
delegations led by Steven Winberg, US Assistant Secretary for Fossil Energy and
Emma Wade-Smith, Her Majesty’s Trade Commissioner for Africa. In the wake of
the recent post-Brexit trade continuity agreement with the Southern African
Customs Union (SACU) and Mozambique, the UK’s Department for International
Trade is looking to cement relations with Africa and become a leading trade
partner to the continent. Mr Sinclair added “we are pleased to host our first
international pavilion at AOW and hope to continue a fruitful partnership with
the United Kingdom long into the future”. 



To learn more about Africa Oil Week and see the full list of attending ministers, visit <a href="http://www.africa-oilweek.com">www.africa-oilweek.com</a>.



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