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“early in the new year, early 2023, there will be finality. So once that is done, I believe it will give investors more confidence.”

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South Africa’s upstream bill to resolve woes, SAOGA head says

South Africa can develop its natural resources and achieve net zero, according to one industry insider, but more must be done legislatively and to secure community support.

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“I believe gas is a game changer for us, in terms of developing our people, but also in in terms of getting us to transition out of poverty,” he said.

One positive note on this has been TotalEnergies’ application for a production licence at the offshore Luiperd discovery.

Strydom called for international support of gas power generation in the country, as part of the energy transition.

“We need to consider that gas reduces the carbon footprint dramatically, if you compare it with coal, so certainly we would like as an industry to promote that,” he said.

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Certainty

One area that will help support the development of gas is “legislative certainty”, the SAOGA chief said. “We have taken too long to get that developed. Another positive is that Parliament is currently working on the Upstream Petroleum Resources Development Bill and has consulted widely.”

As such, Strydom said, “early in the new year, early 2023, there will be finality. So once that is done, I believe it will give investors more confidence.”

Alongside the legislative reforms, companies and politicians face a challenge in securing local support. Communities have objected to seismic plans over the last 12 months, disrupting Shell seismic surveys and others’ efforts.

“We have seen some misinformation that fuelled some antagonism around exploring for oil and gas,” Strydom said. The industry must provide more information on its plans and how it will have an impact on locals – and what safeguards are in place. “We cannot just go into the communities and expect them to understand what we’re thinking without engaging with them adequately.”

https://www.energyvoice.com/oilandgas/africa/459445/south-africa-upstream-saoga/

Ramform Titan, one to watch, just arrived in Walvis Bay, would be good if it was for Exxon or another Major, interested in the Walvis Basin. Gla :-)

The Norwegian offshore seismic survey services company PGS has been awarded a 3D exploration acquisition contract.

PGS said that the contract was in Namibia, with "a major energy company."

The company said it would use the Ramform Titan vessel for the survey, with the acquisition expected to complete mid-February 2023.

"PGS has many years of experience operating in Namibia and we are proud to be part of this exciting new chapter in the country's offshore development. The contract secures visibility for the Ramform Titan well into the winter season," said President & CEO in PGS, Rune Olav Pedersen.

Namibia recently emerged as a global offshore oil and gas exploration hot spot, with two major discoveries in 2022 made by Shell and Total.

Africa Energy Week 2022 Ends on a Progressive Note with a Partnership Between Nigerian Energy Accelerator, Moneda Invest Africa and National Oil Company of Namibia [Namcor] on Local Content Development and Energy Financing

apofeed
October 31st 2022
Africa
Partner Press Releases
Moneda Invest

“Moneda (https://MonedaInvest.com/) is proud to be part of an elite list of companies bringing African solutions to African problems. Working with partners like the African Energy Chamber, the markets can be assured that there will be more to come” said Ejike Egbuagu.

This Year’s Africa Energy Week where Moneda Invest featured as the Platinum Sponsor for African Content, was held at the V&A Waterfront South Africa, and just concluded with a signed agreement between Moneda Invest Africa and National Oil Company of Namibia [Namcor]. The two major energy investment organisations have agreed to this partnership to exchange

expertise and accelerate knowledge-sharing and skills development, while exposing the Namibia oil and gas industry to massive investment, and it was signed in the presence of NJ Ayuk, the Executive Chairman of the African Energy Chamber [AEC].

Moneda Invest Africa is a Nigerian Financial Institution with profound experience in local content and competitive markets development and financing in Africa, with arguably an unmatched portfolio working with major energy juggernauts like TotalEnergies, Shell, Chevron and Nigerian Petroleum Development Company Limited, and will, in this partnership, be providing at least 10 local companies (selected by Namcor) access to capital with the sole objective of augmenting various oil and gas segments in Namibia. These include Petroleum products supply, drilling and well services, health safety, marine logistics, reservoir engineering, land and offshore seismic surveys, training and several others.

As Namibia seeks to accelerate the development of its vast hydrocarbon reserves, it is believed that her partnering with Moneda Invest Africa will be pivotal to securing needed funding to augment upstream, midstream and downstream activities. Namcor will in turn deliver regulatory and administrative support in order to ensure a seamless operation for Moneda Invest Africa across Namibia’s oil and gas industry. The three-year partnership is projected to be an impetus for activating the full potential of the country’s oil and gas industry.

Undisputedly, the African Energy Chamber is in support of collaborations such as this geared towards the growth of the African Energy Industry and we at Moneda Invest Africa strongly believe that this partnership is just the beginning of a complete evolution of the continent’s energy industry and we look forward to signing more deals in the future that will position Africa to be the leading continent for energy industry innovations.

Despite international oil company divestment from hydrocarbons, a suite of African independents are driving frontier exploration. The nation is rich in oil and gas resources, but investment is the only major obstacle keeping it from utilising them to their full potential. Jeremy Asher, CEO, Tower Resources, however, finds hope in the fact that ‘African banks are giving more interest in the area’.

https://oilreviewafrica.com/events/event-news/aew-2022-upholds-african-spirit-in-the-oil-and-gas-sector

A BIG week coming UP, with any luck. Gla holders:-)

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Shell within weeks of starting critical Namibia drilling campaign

Supermajor could drill up to three exploration and appraisal wells on and around its major Graff discovery

21 October 2022
in    Cape Town 

Shell is within a few weeks of firing up what will be a closely watched drilling campaign offshore Namibia in the same block that hosts its large Graff oil discovery.

The supermajor hit oil with its deep-water Graff-1 probe in the Orange basin earlier this year and immediately drilled a follow-up well called La Rona.

While Shell unveiled the results of Graff-1, it has said nothing public on the outcome of its La Rona-1 well, with officials even declining to clarify whether it was an appraisal or an exploration well.

Let's hope it's VERY interesting!!! C'mon JA, news this coming week would be timely. :-)))

"It is interesting to see African banks giving more interest in the area,” stated Asher.

“When it comes to exploration financing, you have to look at the constraints that the market is placing on us. When you look at the scale of exploration and supply gap that is coming up, the amount of exploration that needs to be done, there is cause for concern whether there will be enough equity capital. Appraisal and development funding is different with different risks. The further you move down, the more role there is for traders and the banks themselves. It is interesting to see African banks giving more interest in the area,” stated Asher.

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Growth Strategies and Risk Mitigation in Africa’s Unexplored Basins

 2h ago    |    Source: APO Group

Justin Cochrane, Director: African Regional Research, S&P Global Commodity Insights, speakers included John Hamilton, CEO, Panoro; Jeremy Asher, CEO, Tower Resources; Keith Hill, President & CEO, Africa Oil Corp; Siraj Ahmed, CEO, Impact Oil & Gas; Kola K

While a number of large-scale developments have kicked off across Africa in recent years, much of the continent’s hydrocarbon basins remain largely unexplored, with several sizable discoveries made over the last five years making clear the potential of these basins. Despite international oil company divestment from hydrocarbons, a suite of African independents are driving frontier exploration, with a panel discussion taking place during African Energy Week (AEW) 2022 (https://www.AECWeek.com/) exploring the role these independents play as well as growth strategies and risk mitigation across these unexplored basins.

https://www.businessghana.com/site/news/general/272983/Growth-Strategies-and-Risk-Mitigation

An Indian JV partner for Tower's offshore Namibia huge acerage, with similar geology and mult-billion bareel potential???? Another potential suitor along with a long list of Major's!!!???? Gla ;-)

NEW DELHI : India, the world’s third biggest oil importer, is looking to secure a long-term crude oil supply deal from Namibia, which is being hailed for one of the world’s largest oil finds in recent years, said two people aware of the development.

This is part of India’s aggressive energy-sourcing diversification playbook.

India’s plan of charting new geography to meet its energy needs comes against the backdrop of French energy majors TotalEnergies and Shell Plc making “giant" oil discoveries.

India has been trying to diversify its energy supplies with Indian Oil Corp. recently signing a long-term contract to procure crude oil from Colombia’s state-run Ecopetrol SA and Brazil’s state-run Petroleo Brasileiro SA (Petrobras).

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As reported by Mint earlier, Indian state-run firms have increased efforts to acquire equity energy amid an uncertain global energy market. These include an Indian consortium led by ONGC Videsh Ltd, with Indian Oil Corp. Ltd, Bharat Petroresources Ltd and Oil India Ltd as members aiming to acquire a stake in a hydrocarbon producing asset of UAE’s Abu Dhabi National Oil Co.

https://www.livemint.com/industry/energy/govt-in-talks-for-long-term-namibian-crude-contracts-11666204744218.html

Tower's SA acerage straddles Totalenergies to huge SA gas discoveries. Gla ;-)

CEF details Southern African oil, gas projects

20th October 2022

State-owned energy company the Central Energy Fund (CEF) Group CEO Dr Ishmael Poolo this week highlighted oil and gas developments in Southern Africa, including discoveries of oil in Namibia, drilling for oil and gas in Zimbabwe, discoveries of and drilling for oil and gas off South Africa, as well as progress of its first commercial liquefied natural gas plant.

In February, energy and petrochemicals multinational Shell, through the Graff project, in Namibia, and energy multinational TotalEnergies, through the Venus project, also in Namibia, made significant discoveries of oil, in the Southern African Development Community region, he noted in a speech during African Energy Week.

TotalEnergies and its partners have also announced discoveries in blocks 11B and 12B off the coast of Mossel Bay over the past few years, said Poolo.

"On September 5, TotalEnergies lodged the production right application with our petroleum regulator. This demonstrates their commitment to invest and be part of developing the South Africa’s oil and gas sector. The country is fully committed to supporting TotalEnergies and partners as they advance this project forward," he added.

https://www.engineeringnews.co.za/article/cef-details-southern-african-oil-gas-projects-2022-10-20

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“The new discoveries we have at this stage are just the beginning of an era, in terms of the potential for the hydrocarbons we have as a nation,” said Maggy Shino, Petroleum Commissioner, Ministry of Mines and Energy Namibia. “The geology of Namibia has been tricky. Our first well was a hit with Kudu gas, but the following wells were not a success. We have an environment with volcanics, which sent our investors on a goose hunt chase. Now, we have managed to resolve that puzzle and open up that play. Our strategy is to drive exploration so that we can replicate the success we have in the Orange Basin.”

“We need to focus on the value chain that creates production,” said Ejike Egbuagu, CEO of Moneda Investment Africa. “We are operating in a market where yield is very scarce. Namibia is channeling investment into pockets of opportunity, bringing capacity from other countries like Nigeria, Uganda and Angola, and working in partnership with Namibian companies to participate in first oil. There will be a lot of activities going up to first oil.”

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The Country Spotlight was concluded with presentations by Bridget Venner, Namibia Lead Country Manager, ExxonMobil; Klaus Endersen, General Manager of BW Kudu; and Immanuel Mulunga, Managing Director of NAMCOR.

https://african.business/2022/10/apo-newsfeed/positioning-namibia-as-the-energy-capital-of-africa/

STFU

Yep, JA is in the right place to get a deal or two signed and delivered. Gl :-)

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Centered around signing the deals that will transform Africa’s energy sector, African Energy Week (AEW) (https://www.AECWeek.com/) – running this week from October 18-21 – provides the ideal platform for energy companies, African governments and global financiers to secure partnerships and long-term agreements.

In line with this agenda, French engineering and technology company, Technip Energies, has inked a deal with the National Petroleum Corporation of Namibia (NAMCOR) that will see the parties collaborate on the development of the country’s 2022 oil and gas discoveries made by Shell and TotalEnergies.

https://african.business/2022/10/apo-newsfeed/technip-energies-inks-industry-advancing-memorandum-of-understanding-mou-with-national-petroleum-corporation-of-namibia-namcor-to-develop-namibias-oil-and-gas-discoveries/

ABOUT a month after the Namibia International Energy Conference 2022 was concluded in Windhoek, the first step to creating an African energy bank has been inked.

The establishment of an energy bank received applause at the conference and now a memorandum of understanding between the African Export-Import Bank (Afreximbank) and the African Petroleum Producers Organisation (APPO) has been signed.

The multibillion-dollar energy bank, when established, would focus on scaling up private sector investment in African oil and gas projects, provide critical financing for new and existing oil and gas projects, as well as energy development across the entire value chain.

https://www.namibian.com.na/112658/read/Ball-rolls-on-creation-of-African-energy-bank

HQ in Cameroon's capital. Gla ;-)

Business in Cameroon) - On September 22, 2021, the African Export-Import Bank (Afreximbank) opened the doors of its new Yaounde office to the media as a prelude to the official inauguration coming up on September 24.

The office, which will serve the Central Africa region, is temporarily located at the headquarters of the national social security fund CNPS. "The new office covers Cameroon, the Central African Republic, Chad, Congo, the Democratic Republic of Congo, Equatorial Guinea, and Gabon. The creation of an Afreximbank regional office for Central Africa is in line with the Bank's growing geographical coverage. The new office brings to five the number of Afreximbank regional offices across Africa," the Bank indicates.

The headquarters agreement of this new office was signed in Yaounde, on December 13, 2019, by Lejeune Mbella, Cameroonian Minister of External Relations, and Okey Oramah, CEO of Afreximbank.

In the medium term, the Central Africa Regional Office is expected to strengthen the financial services sector by improving and expanding the region's access to affordable and competitive financing and advisory services for a range of local banks, exporters, importers, and domestic investors.

" Afreximbank intends to open over $500 million of consumer and refinancing lines to banks over the next five years. With the new office, we plan to quintuple the bank's interventions in the Central African sub-region to $5 billion [XAF2,799.8 billion] in the next three years. The bank will increase the number of institutions that will benefit from credit facilities in the region. Currently, four banks have benefited from our credit facilities. We plan to increase it to 15 banks in the next two years," said René Awambeng, head of client relations for Afreximbank.

AEC, Afreximbank sign MoU to boost private-sector investments in Africa’s oil & gas

18/10/22

The African Energy Chamber (AEC) and the African Export-Import Bank (Afreximbank) have signed a Memorandum of Understanding (MoU) to enhance private sector investments across Africa’s oil and gas industry.

AEC, Afreximbank sign MoU to boost private-sector investments in Africa's oil & gas.

The MoU was signed by NJ Ayuk, the executive chairman of the AEC, and Benedict Oramah, president, Afreximbank, during the first day of the ongoing African Energy Week (AEW) conference and exhibition, which runs from October 18-21 in Cape Town, South Africa.

The new development is expected to accelerate increased participation of private sector investors and local service companies in boosting capital across Africa’s entire hydrocarbon industry, with the AEC leading various mechanisms aimed at simplifying the entrance and expansion of financial institutions.

Speaking at the signing ceremony, Ayuk noted that the deal is meant to encourage private sector individuals to drive energy sector growth in the continent.

“I would like to thank Afreximbank for bringing us an opportunity to bring more private sector players across the African energy industry. With this MoU, we can get guys working on mini grids and local service and financing companies and get them into boosting industry growth,” he added.

On his part, Oramah expressed excitement entering an MoU with the AEC, noting that the bank had for long searched for a connecting voice with an intellectual depth and capacity to do research.

He maintained that working with the AEC will enable Afreximbank to begin to make big transformations towards ensuring Africans gain more access to energy, thereby reducing the number of people with no access to clean cooking.

“As we launch the African Energy Bank, we look at the AEC becoming part of the instrument which we will use finance to change the course of history regarding the way energy access is on the continent,” he said.

With global energy transition-related policies currently disturbing the flow of investments across the continent’s hydrocarbon industry, the MoU between the AEC and Afreximbank is expected to play a key role in transforming the industry.

Prior to the event, AEC had stated its commitment towards making energy poverty history by 2030. The chamber is optimistic that its vast experience in uniting African governments, energy companies and investors with global stakeholders will be crucial in accelerating their participation and collaborations with Afreximbank in energy financing and development.

Exxon  "two assessments are expected in Namibia."....Highly significant for Tower. Gla :-)

The webinar explored ongoing exploration trends as well as opportunities in Africa, with Ayukegba stating that “As a result of the COVID-19 crisis, exploration revenue has dropped significantly.

However, due to recent price developments, an increasing number of companies are looking to increase investment, evidenced by a rapid increase in offshore exploration activities in Namibia, Angola and Zimbabwe.

ExxonMobil will launch a massive campaign in Angola next year, while  two assessments are expected in Namibia.

For Africa to ensure long-term energy security and supply while meeting global demand, we need to focus more on exploration.” Commenting on whether the focal points of exploration in Africa have changed, Mahajan explained that “We see a lot of frontier exploration.

https://nnn.ng/rystad-energy-african-energy-chamber-aec-webinar-explores-african-exploration-trends/

Profit takers done, get ready for the next move North...Game changing news possible on several fronts. Gla ;-)

Namibia could prove to be very extensive indeed. WoodMac’s current estimate for total reserves is 6 billion barrels, but the upside could be more than twice that dependent on future appraisal. TotalEnergies’ second well on Venus is planned for next year.

Second, upstream investment in Africa is on a strong upward trend. These big discoveries feed into a healthy existing development pipeline which could drive a doubling of spending by 2025 from the regional lows of two years ago. With global spending showing little sign of growth, Africa is outperforming other upstream regions. Investment is no longer dominated by Nigeria, Angola, and the Congo. Much of the future spending will be in Uganda, South Africa, Senegal, Cote d’Ivoire, Mozambique, and likely Namibia.

https://www.google.com/amp/s/www.rigzone.com/news/africa_answering_need_for_oil_and_gas_supply-17-oct-2022-170728-article/%3famp