Latest news with #Gabon
Zawya
9 hours ago
- Business
- Zawya
Gabon Oil Company Chief Executive Officer (CEO) Joins African Energy Week (AEW) 2025 Following Major Asset Acquisition from Tullow Oil
Marcellin Simba Ngabi, CEO of Gabonese parastatal Gabon Oil Company (GOC), is set to speak at Africa's premier energy event, African Energy Week (AEW): Invest in African Energies 2025, which takes place in Cape Town from September 29 to October 3. Ngabi's presence at AEW: Invest in African Energies 2025 signals a bold new era for state-led energy development as GOC transitions from a partner in operations to a primary driver of upstream growth and regional integration. Ngabi's participation comes shortly after the GOC's landmark $300 million acquisition of oil and gas company Tullow Oil's entire Gabonese portfolio, a transaction that includes 10,000 barrels per day (bpd) in production and 36 million barrels of proven reserves. The acquisition underscores GOC's strategic push to ramp up national oil production and attract new investment into Gabon's energy sector. During AEW: Invest in African Energies 2025, Ngabi is expected to share insight into the company's portfolio expansion, detailing how this recent acquisition supports the country's broader production goals. AEW: Invest in African Energies 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 for more information about this exciting event. With over two billion barrels of proven oil reserves and significant gas potential, Gabon is reasserting its position as one of Africa's most promising energy frontiers. As the country seeks to boost production to 220,000 bpd, GOC is spearheading efforts to optimize mature fields, unlock value from marginal assets and fast-track project development. Recent developments include the GOC's oilfield development partner BW Energy's fast-tracked production start at the Hibiscus South satellite prospect, situated in the Dussafu license, which added 5,000-6,000 bpd within five months of discovery. Meanwhile, in 2024, GOC completed the acquisition of the private equity company Carlyle Group-owned Assala Energy – adding seven onshore licenses, a pipeline network and the Gamba export terminal to its portfolio. These milestones highlight GOC's commitment to rapid asset turnaround and production growth. Beyond oil, GOC is advancing Gabon's Gas Master Plan to monetize the country's three to five trillion cubic feet of natural gas reserves. Strategic initiatives include independent oil and gas company Perenco's $1 billion Cap Lopez LNG terminal – set to come online in 2026 – and the Batanga LPG plant, which became operational in December 2023. These efforts form part of a broader national drive to reduce flaring, strengthen downstream industries and diversify the country's energy mix. At AEW: Invest in African Energies 2025, Ngabi is expected to showcase Gabon's revitalized upstream agenda, highlight new investment opportunities across the oil and gas value chain and outline the national oil company's vision for leveraging international partnerships to drive sustainable growth. His participation is also set to highlight how national oil companies are transforming Africa's energy narrative through bold acquisitions, technology adoption and regional cooperation. 'Gabon's recent acquisitions and project milestones position the country as a rising force in Africa's upstream resurgence. Ngabi's participation at AEW: Invest in African Energies 2025 reinforces the central role national oil companies are playing in unlocking Africa's energy future, and we look forward to his insights on Gabon's strategic roadmap,' stated Tomás Gerbasio, VP of Commercial and Strategic Engagement, African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber.
Zawya
2 days ago
- Business
- Zawya
Gabonese President Brice Oligui Nguema and African Development Bank's (AfDB) Akinwumi Adesina Inaugurate Water Pumping Station for Greater Libreville
'Ten years without clean water: erased! Ten years without hope: forgotten! Ten years of suffering: over!'—Adesina to residents of Libreville's outlying neighborhoods. Adesina Receives Gabon's Highest Civilian Honor Gabonese President Brice Oligui Nguema and African Development Bank Group President Dr. Akinwumi Adesina ( on Monday jointly inaugurated a new drinking water pumping station, marking the end of a decade-long water crisis in PK5, a densely populated district of Libreville. The new PK5 pumping station, with a daily capacity of 57,600 cubic meters, is designed to deliver clean water to 128,000 residents across seven northern districts of the capital. 'These past few weeks, we've finally felt like citizens of real capital. Water is flowing from our taps at last,' said Sandrine Onanga, a 33-year-old mother living in PK5. 'It has been eight years since we last saw a drop of water. We had even forgotten what a tap looked like,' added Astrid Momboukou, who joined the crowd to witness the inauguration of the facility. For years, taps had run dry in parts of Libreville. 'That's all behind us now. No more lugging water jugs for kilometers. No more waiting late into the night for police tankers to deliver water every two or three days,' said Sandrine, smiling under the light rain that fell over Libreville that Monday. The new station was inaugurated in the presence of senior government officials, members of the diplomatic corps, development partners, and an enthusiastic local population. It forms part of the Integrated Drinking Water Supply and Sanitation Program for Libreville (PAIEPAL). The program, with a total investment of €117.4 million, is financed through a €75.4 million loan from the African Development Bank and a €42 million loan from the Africa Growing Together Fund (AGTF), backed by the People's Bank of China and administered by the Bank. The program aims to improve access to potable water and sanitation services in Libreville, strengthen sector governance, and build capacity for long-term transformation. The initiative ensures that more than 300,000 people—approximately 31% of Libreville's 967,095 residents—now have sustainable and permanent access to clean water. The beneficiary communes include Libreville, Akanda, Owendo, and Ntoum. Adesina emphasized the life-changing impact of the new pumping station: 'Ten years without drinking water: erased! Ten years without hope: forgotten! Ten years of suffering: ended!' The Bank, a reliable and strategic partner for Gabon Adesina also highlighted the Bank's unwavering development support for Gabon during his ten-year tenure. 'From 1974 to 2014, the Bank approved $1 billion in financing for Gabon. Since my election in 2015, we have committed an additional $1.5 billion—1.5 times the previous 40-year total,' he said. According to Philippe Tonangoye, Gabon's Minister for Universal Access to Water and Energy, the project has significantly improved water infrastructure. It involved renewing 150 kilometers of pipelines, upgrading and extending another 150 kilometers of distribution networks, building and rehabilitating multiple water towers, and installing around 60 public standpipes across Libreville and surrounding areas. 'The African Development Bank spared no effort to make this program a reality,' said Minister Tonangoye. 'Some of these installations had not seen a single drop of water in ten years. My gratitude goes to the Bank for its commitment to Gabon.' President Adesina receives top Gabonese honor Ahead of the inauguration, Gabonese President Oligui Nguema conferred on Adesina the insignia of Grand Officer of the Order of the Gabonese Merit, one of Gabon's highest civilian honors, in a ceremony witnessed by his wife, Grace Adesina. Recognized for his visionary leadership, Akinwumi Adesina—dubbed 'Africa's Chief Optimist'—will complete his second and final ten-year term as President of the African Development Bank Group on 31 August. Since 2015, he has led transformative projects across Africa under the Bank's five strategic priorities, the 'High 5s' ( Through these priorities, 565 million people have seen their lives transformed. In the water sector alone, 63 million people gained access to clean water and 34 million to sanitation services. Flagship projects in Gabon For decades, the Bank has supported Gabon's socioeconomic development by helping diversify strategic sectors. It is now Gabon's leading infrastructure partner. Among flagship projects, the Bank financed the New Owendo International Port. With a capacity of four million tonnes per year, this multi-purpose port (minerals, timber, containers) has reduced handling costs by 30% and become a critical link in Gabon's logistics chain. In this context, the Gabonese President took Dr. Adesina on a tour of the La Baie des Rois Special Investment Zone, located 18 km from the port. The maritime façade of the Gabonese capital aims to be modern to attract international real estate investors to revitalize the country's economy and create wealth for the population. The Bank is also helping Gabon develop the Kinguélé Aval hydroelectric power station—the country's first energy PPP—which will add 40 megawatts of reliable, affordable, and clean energy. It is also financing the Ndende-Doussala road, a key segment of the Libreville-Brazzaville corridor that will connect Gabon and Congo and boost regional integration. With an active portfolio of $61.26 million, the African Development Bank Group's strategy in Gabon focuses on two priority areas: supporting the development of sustainable infrastructure to drive industrialization, and strengthening economic governance and the business climate to promote social inclusion. Following the inauguration, President Oligui Nguema and Akinwumi Adesina visited two families in separate districts that were once severely impacted by water shortages. They also toured the National School for Hearing-Impaired Children, which serves hundreds of students. Since gaining access to clean drinking water, the school has seen a significant improvement in hygiene conditions. Distributed by APO Group on behalf of African Development Bank Group (AfDB). Dr. Adesina's speech (French) ( Pictures ( Contact: Romaric Ollo Hien Communication and External Relations Department media@ About the African Development Bank Group: The African Development Bank Group (AfDB) is Africa's premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 44 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its 54 regional member states. For more information:
Yahoo
3 days ago
- Business
- Yahoo
BW Energy: Company presentation Fearnley Securities Africa Focused E&P seminar
Company presentation Fearnley Securities Africa Focused E&P seminar BW Energy is today presenting at the Fearnley Securities Africa Focused E&P seminar in Madrid, Spain. Please see the attached presentation. For further information, please contact: Brice Morlot, CFO BW Energy+33.7.81.11.41.16ir@ ABOUT BW ENERGY: BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company's assets are 73.5% of the producing Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block, a 95% interest in the Maromba field in Brazil, a 95% interest in the Kudu field in Namibia, all operated by BW Energy. In addition, BW Energy holds approximately 6.6% of the common shares in Reconnaissance Energy Africa Ltd. and a 20% non-operating interest in the onshore Petroleum Exploration License 73 ("PEL 73") in Namibia. Total net 2P+2C reserves and resources were 599 million barrels of oil equivalent at the start of 2025. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act Attachment BWE Africa E and P Seminar Madrid June 2025
Sky News
3 days ago
- Business
- Sky News
London-listed Tullow Oil sees merger with Meren Energy collapse
Talks about a merger involving Tullow Oil, the London-listed African oil explorer, and Meren Energy, a Canadian-listed peer, have collapsed. Sky News has learnt that discussions about a tie-up were progressing as recently as this month but are now said to have been terminated. It was unclear on Tuesday evening what the reason was for the abandonment of the negotiations. Tullow Oil, which has a market valuation of about £275m, is focused on West-African producing assets in Ghana, Gabon and the Ivory Coast. The company has seen its stock plunge dramatically since its peak valuation of about £15bn. Last December, it saw merger talks involving Kosmos Energy fall apart. Meren Energy, which until recently was called Africa Oil Corp, is substantially larger than Tullow Oil in valuation terms. Listed in Canada and Sweden, it has a market capitalisation equivalent to approximately £980m. Run by chief executive Roger Tucker, Meren recently said it had up to $500m to spend on acquiring producing assets in Africa.
Zawya
4 days ago
- Business
- Zawya
Equatorial Guinea's Golden Swan Sets Regional Benchmark for Greener Oil and Gas Practices
The African Energy Chamber (AEC) ( proudly supports the recent visit of Gabonese President Brice Oligui Nguema to Equatorial Guinea's Golden Swan industrial complex, marking a defining moment for Africa's oil and gas sector. As the continent intensifies efforts to industrialize responsibly, Golden Swan – and Equatorial Guinea, under the leadership of President Teodoro Obiang Nguema Mbasogo, whose commitment to sustainable development and environmental stewardship has been instrumental – is demonstrating that environmental protection and energy development can and must go hand in hand. During the visit, President Oligui Nguema and his delegation witnessed first-hand how Equatorial Guinea has achieved self-sufficiency in treating industrial and hazardous waste. Golden Swan's advanced infrastructure includes industrial incinerators, a wastewater treatment plant, a medical waste processing unit and recycling systems for waste oil, plastics, batteries and metals. Presentations showcased the company's household waste system, which reduces landfill use by up to 90% through sorting and recycling, and its production of critical industrial gases like medical oxygen and nitrogen. The Golden Swan model directly addresses one of the most pressing challenges facing Africa's hydrocarbons sector: the management of hazardous and industrial waste generated by upstream and downstream operations. By achieving self-sufficiency in this area, Equatorial Guinea not only protects its ecosystems and communities, but also strengthens its position as a responsible, forward-looking energy producer. The AEC believes that facilities like Golden Swan can serve as blueprints for governments and companies aiming to build energy industries that are both profitable and sustainable. The visit also sets the stage for tangible collaboration between Gabon and Equatorial Guinea, beyond high-level dialogue. Opportunities now exist for technical cooperation, joint ventures and knowledge sharing that could see similar waste management infrastructure developed across the region. The Chamber encourages both governments to formalize this cooperation and take decisive steps to turn this vision into reality. 'This is a defining example of how African oil and gas producers can lead on environmental issues rather than follow,' said NJ Ayuk, Executive Chairman of the African Energy Chamber. 'Golden Swan shows what is possible when governments and industry come together with a clear purpose. It sets the bar higher, and it invites others on the continent to match or exceed that standard. This is good for our industry, good for our people, and good for Africa's future.' Golden Swan's success underscores a broader truth: Africa's energy sector can drive industrialization while respecting the environment. As more nations follow this path, the continent will be better positioned to attract investment, create jobs and ensure long-term sustainability. The AEC welcomes this milestone and encourages all oil and gas stakeholders to build on Golden Swan's example by innovating, collaborating and driving Africa's growth while protecting its natural heritage. Distributed by APO Group on behalf of African Energy Chamber.
