MIL Africa Engine

Source: APO

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By Grace Orife, African Energy Chamber (www.EnergyChamber.org) board member

Nigeria’s oil and gas sector stands at a strategic inflection point and the country’s marginal fields are vital for growth and sustaining upstream activity. These smaller, often undercapitalised fields, especially in shallow waters, are rich with potential. But the obstacle isn’t the geology—it’s fragmentation.

Marginal fields in Nigeria are primarily operated by indigenous companies building pursuing parallel strategies and competing for capital, technology and talent. The result? Redundant investments, suboptimal recovery, and a lack of scalable impact. What the sector needs now is not more competition, but more cooperation with an outlook on investment.

Shared Infrastructure, Shared Value

The current model of asset duplication—each operator investing separately in logistics, facilities and maintenance—is financially and operationally inefficient. A shared infrastructure model dramatically reduces cost per barrel and enhances asset longevity. Value creation replaces asset control as the strategic lens. A great example of this is the 48Km pipeline Umutu to Kwale, Delta state ­– a joint venture between Platform Petroleum and Newcross Petroleum. Indigenous joint ventures can create more bankable projects, unlock blended finance models and even attract ESG-linked capital. Scale is no longer just a metric—it’s a signal.

Another example is the Otakikpo onshore terminal in OML 11, completed in 2025. Developed by Green Energy International, the terminal is the first indigenous facility constructed in the country in five decades. With a storage capacity of 750,000 barrels – set to increase to three million barrels depending on market demand – and an export capacity of 360,000 barrels per day, the facility reduces operating costs for marginal fields. The terminal is expected to unlock previously-stranded resources from up to 40 marginal fields, highlighting the value of shared infrastructure in Nigeria.

Strengthened Policy

The recently passed Petroleum Industry Act (PIA) is a game-changer for Nigeria’s energy industry. By promoting transparency, streamlining regulations, and reforming tax and royalty structures, the PIA creates a more attractive environment for global investors. Crucially, the PIA also addresses marginal field development, providing a clear licensing framework and resolving legal ambiguities. With the PIA in place, Nigeria’s energy sector is poised for a revival, enabling the country to better meet its domestic needs, including reliable electricity and economic growth.

From Possibility to Practice: Building the Architecture for Collaboration

When operators share more than just facilities—when they share insights, talent, and lessons learned—sector-wide operational resilience improves. Peer-to-peer learning reduces downtime, enhances safety practices, and fosters innovation. In high-risk environments, agility is a competitive edge.

To translate this vision into operational reality, indigenous firms must move beyond handshake agreements to structured partnerships. Such partnerships must incorporate strong governance models – featuring transparent rules for decision-making, risk-sharing and conflict resolution. The utilization of neutral operators – third parties who manage shared infrastructure – will also ensure fair access, while structures such as joint operating agreements will enable companies to formalize roles, reduce costs and enhance performance.

In this scenario, government regulators have a catalytic role to play. By offering fiscal incentives, easing licensing for consortia and prioritising collaborative proposals, they can turn policy into progress.

The Future Belongs to the Connected

The next chapter of Nigeria’s upstream oil industry won’t be written by solitary operators: it will be shaped by those who recognise that collaboration is not a compromise, but a competitive advantage. In an era of tighter margins, increasing stakeholder expectations, and declining investment in fossil fuels, the old model of isolated operation is no longer sustainable.

Marginal fields represent more than untapped reserves – they are an opportunity to reimagine how indigenous oil and gas companies create value. By sharing infrastructure, pooling resources, and aligning strategies, local operators can unlock performance at scale, attract investment, and meet rising ESG standards with credibility.

This is not just a call to cooperate – it’s a strategic imperative. The future will favour those who embrace a new mindset: one that values partnership over ownership, ecosystem thinking over individual ambition, and shared impact over siloed success.

The time to act is now.

Distributed by APO Group on behalf of African Energy Chamber.

Source: APO

Angola – one of Africa’s leading deepwater producers – is making a strong play for onshore exploration, leveraging its multi-year licensing strategy and flexible investment structures to entice new players to invest in onshore projects. On the back of a licensing round which concluded in 2024, the country is witnessing a surge of investment onshore, unlocking new opportunities for production growth as Angola strives to sustain output above one million barrels per day.

A panel discussion during the Angola Oil & Gas (AOG) conference will examine the impact ongoing onshore and shallow water projects will have on Angola’s production portfolio. Titled The Role of Onshore and Shallow Water Operations in Maintaining Production, the session will feature companies active in the onshore market and will delve into the strategic significance of onshore assets in maintaining output and maximizing resources in Angola. Speakers include Ricardo Van-Deste, CEO, Sonangol E&P; Edson dos Santos, CEO, Etu Energias; George Toriola, Chief Strategy Officer, FIRST E&P; Gianni Martins, General Manager, Alfort Petroleum; and Scott Gilbert, CEO, Corcel.

The 2024/2025 period has seen robust growth across Angola’s onshore market as companies invest in drilling and data acquisition in pursuit of new discoveries. In May 2025, Etu Energias signed a Risk Service Contract for Block CON 4 in the onshore Congo basin, granting the company operatorship with 67.5%. The agreement covers a 25-year operating license, with five years allocated for exploration and 20 years for production. The agreement follows two separate deals signed by Corcel in May 2025 for the accelerated development of Block KON 16 in the Kwanza basin. The agreements saw Corcel enhance its stake in the block to 71/5% through transactions signed with Intank Global DMCC and Sintana. Proceeds from the transactions will support de-risking and exploration activities planned for 2026. Corcel completed the data acquisition phase of KON 16 in 2024. Alfort Petroleum is also pursuing onshore exploration, following its qualification as an operator under the country’s 2023 licensing round. The company operates Block KON 8 and is currently interpreting seismic data at the block.

Meanwhile, while FIRST E&P is not yet active in Angola, other Nigerian players have recently expanded into the country, showcasing the potential for Nigerian players in Angola’s onshore market. Notably, Nigeria’s Walcot Group signed a production sharing contract in April 2025 for three onshore blocks in Angola. These include a 100% equity interest and operatorship of Block KON 1; a 100% equity interest and operatorship of Block CON 3; and a 10% non-operating interest in Block KON 13. Oando Energy Resources – another Nigerian firm – entered the Angolan market in January 2025, gaining operatorship of Block KON 13. The block has two exploration wells previously drilled, with oil and gas identified across various depths. Effimax and Sonangol represent partners on the block.

Recent onshore investments are largely due to Angola’s 2023 licensing round, which featured 12 blocks for exploration in the Lower Congo and Kwanza basins. Nine companies qualified as operators while five qualified as non-operators. Since the conclusion of the round, the country’s upstream regulatory the National Oil, Gas & Biofuels Agency has since received proposals from three international companies for nine blocks that were not awarded during the 2023 tender. This underscores the level of interest in Angola’s onshore acreage, laying a strong foundation for future discoveries.

Distributed by APO Group on behalf of Energy Capital & Power.

Source: APO

• The partnership dubbed, Leadership Excellence for African Diagnostics (LEAD) between Roche and ASLM is a three-year programme to strengthen lab leadership in Africa
• The initiative focuses on mentorship and training to build lab leadership capabilities

Roche Diagnostics Africa (www.Roche.com) and the African Society for Laboratory Medicine (ASLM) (www.ASLM.org) have announced the launch of a three-year partnership to elevate laboratory leadership and improve access to quality diagnostic services across the continent. The initiative — titled LEAD: Leadership Excellence for African Diagnostics — brings together health ministries, laboratory directors, academic partners and technical experts to develop a new generation of capable, connected and future-ready lab leaders.

“This partnership will build long-term leadership that would  shape the future of diagnostics in Africa — practically, strategically and sustainably. In a time where we need African healthcare systems to become less reliant on external funding sources, we are focused on increasing domestic diagnostics capacity more than ever,” says Dr Allan Pamba, Executive Vice President, Diagnostics, Africa, at Roche Diagnostics.

“We are entering a new chapter where African health systems take the lead in their own transformation. By growing diagnostic leadership we support long-term resilience and impact. LEAD equips professionals who can influence policy, drive national strategy and build sustainable healthcare capacity.”

Under the partnership, LEAD will deliver a series of integrated interventions including baseline leadership assessments to guide a tailored context-specific training approach, development of a pan-African curriculum in collaboration with a leading academic institution, structured mentorship and professional development for emerging lab leaders, peer learning and regional collaboration through workshops and best practise exchanges.

ASLM Chief Executive Officer, Nqobile Ndlovu, added: “Diagnostics are the foundation of resilient health systems – but strong labs require strong leaders. LEAD focuses on people: their vision, their reach and their ability to transform public health from within. With this programme, we are supporting the leadership needed to move African healthcare forward.”

Roche will provide funding, technical support and global platforms for visibility while ASLM will lead country-level implementation, stakeholder coordination and curriculum development.

Laboratory strengthening is a key enabler for stronger health systems and this partnership is a commitment towards a healthier future for Africans.

Distributed by APO Group on behalf of Roche Diagnostics.

Media queries: 
Precious Nkabinde 
Communications Lead 
precious.nkabinde@roche.com 

Nelly Rwenji
Communications Lead
ASLM
nrwenji@aslm.org

About Roche:
Founded in 1896 in Basel, Switzerland, as one of the first industrial manufacturers of branded medicines, Roche has grown into the world’s largest biotechnology company and the global leader in in-vitro diagnostics. The company pursues scientific excellence to discover and develop medicines and diagnostics for improving and saving the lives of people around the world. We are a pioneer in personalised healthcare and want to further transform how healthcare is delivered to have an even greater impact. To provide the best care for each person we partner with many stakeholders and combine our strengths in Diagnostics and Pharma with data insights from the clinical practice.

In recognising our endeavor to pursue a long-term perspective in all we do, Roche has been named one of the most sustainable companies in the pharmaceuticals industry by the Dow Jones Sustainability Indices for the thirteenth consecutive year. This distinction also reflects our efforts to improve access to healthcare together with local partners in every country we work.

Genentech, in the United States, is a wholly owned member of the Roche Group. Roche is the majority shareholder in Chugai Pharmaceutical, Japan.

For more information, please visit www.Roche.com.

All trademarks used or mentioned in this release are protected by law.

About ASLM:
The African Society for Laboratory Medicine (ASLM) is a pan-African organization committed to achieving a healthier Africa by increasing access to quality laboratory services for all. We work to convene and mobilize stakeholders at all levels to improve access to diagnostic services and strengthen laboratory systems and networks.

Since its founding in 2011, ASLM has played a key role in advancing laboratory medicine in Africa, collaborating with partners and stakeholders to promote disease diagnosis, surveillance, and control. Through its programs and initiatives, ASLM has contributed to the development of laboratory policies and guidelines, the expansion of laboratory networks, and the improvement of laboratory infrastructure and equipment. ASLM’s experience highlights the importance of laboratory medicine in public health and demonstrates the impact of collaborative efforts in advancing health outcomes in Africa.

Learn more: www.ASLM.org

Source: APO

Paulino Jerónimo, President of Angola’s National Oil, Gas & Biofuels Agency (ANPG), will share insights into the country’s upcoming investment opportunities at the Angola Oil & Gas (AOG) conference – taking place September 3-4 in Luanda. As the country’s upstream regulator, the ANPG has been making considerable strides towards opening-up the market to foreign investment, with recent reforms and block opportunities set to drive the next wave of oil and gas production in Angola. Jerónimo’s insights at the event will not only provide a comprehensive overview of Angola’s block opportunities, but support new investments across the upstream sector.

Angola is experiencing a surge in upstream oil and gas investments, with $60 billion planned across the market for the next five years. These investments have been made possible with the country’s ambitious licensing strategy, as well as ongoing regulatory reforms and flexible investment structures spearheaded by the ANPG. As the country prepares to launch its next licensing round and promotes acreage on offer through direct negotiation, Angola is affirming its position as a prime investment destination for oil and gas companies.

As sub-Saharan Africa’s second largest oil producer, Angola implemented an aggressive strategy in 2019, whereby the country seeks to award 50 concessions by 2025. To date, more than 30 new concessions have been awarded over four licensing rounds. The country is expected to launch its next licensing round in 2025, offering ten blocks for exploration in the offshore Kwanza and Benguela basins. This next round follows a successful tender launched in 2023 and concluded in 2024, whereby nine companies qualified as operators and five qualified as non-operators. Since this round, the ANPG has received proposals from three international companies for nine blocks in the onshore Kwanza basin. Proposals were submitted for blocks that were not awarded during the 2023 tender.

In addition to licensing rounds, Angola offers flexible investment structures that continue to entice new players to the market. In recent years, Angola launched a permanent offer scheme, enabling companies to invest outside of the confines of traditional licensing rounds. Currently, 11 blocks are available on permanent offer. In 2024, the country went a step further, introducing five marginal fields for development. Situated in producing blocks with proven systems, these marginal fields are well-suited for smaller players seeking near-term production.

Meanwhile, Angola is also expanding and modernizing its library of seismic data under efforts to support future exploration campaigns. Currently, the country’s basins are support by a wealth of 2D and 3D seismic data, with recent acquisition campaigns aimed at improving the understanding of on- and offshore acreage. The ANPG has been spearheading efforts to reprocess existing seismic data, seeking to improve geological updates. In early 2025, energy data and analysis company TGS completed the reprocessing of the Block 16 GeoStreamer MC3D seismic dataset in the Lower Congo basin. This follows an announcement made by TGS at AOG 2024, with the company set to reprocess its onshore Kwanza basin dataset. These efforts provide detailed insights into the subsurface, thereby mitigating investment risks and improving decision-making.

At AOG 2025, Jerónimo is expected to outline Angola’s strategy to increase production through new exploration campaigns. By exploring the country’s opportunities – from offshore blocks to onshore drilling to partnerships and seismic acquisitions – Jerónimo will offer operators the insights they need to invest in Angola.

Distributed by APO Group on behalf of Energy Capital & Power.

Source: APO

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a EUR 15 million Master Murabaha Agreement with Ak Finansal Kiralama A.Ş. (Aklease), one of Türkiye’s leading leasing institutions and a subsidiary of AkBank.

The two-year facility aims to expand access to Shariah-compliant trade finance solutions for Türkiye’s private sector, including small and medium-sized enterprises (SMEs), enabling the import and pre-export of essential goods and services. The partnership reflects ITFC’s ongoing commitment to supporting economic development across member countries.

Commenting on this partnership, Mr. Nazeem Noordali, COO of ITFC, stated: “This agreement underscores our long-term commitment to supporting Türkiye’s private sector. By partnering with leading institutions such as Aklease, we are furthering ITFC’s mandate to promote trade and foster economic growth.”

From his end, Mr. Eser Okyay, General Manager, AKLease, commented, “This partnership contributes to the development of innovative financing models in the leasing sector while also reinforcing our vision of providing resources for projects that prioritize sustainable development. This agreement, which marks ITFC’s first contract signed with ITFC in Türkiye’s leasing sector, brings a fresh perspective to the industry. We believe that this approach, which centers on sustainability, green financing, and accessibility for SMEs, offers a valuable alternative for the real sector.”

This agreement is aligned with ITFC’s broader strategy in Türkiye, where the Corporation has committed significant resources to supporting the private sector through targeted trade finance and capacity-building initiatives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

Contact us:
Tel: +966 12 646 8337
Fax: +966 12 637 1064
E-mail: ITFC@itfc-idb.org

Social media:
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LinkedIn: International Islamic Trade Finance Corporation (ITFC) (http://apo-opa.co/4lvMth5)

About the International Trade Finance Corporation (ITFC):
The International Islamic Trade Finance Corporation (ITFC) is the trade finance arm of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving the socio-economic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided more than US$83 billion of financing to OIC member countries, making it the leading provider of trade solutions for these member countries’ needs. With a mission to become a catalyst for trade development for OIC member countries and beyond, the Corporation helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity-building tools, which would enable them to successfully compete in the global market.

Source: APO – Report:

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Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, has been assigned a long-term Issuer credit rating of A+ with a stable outlook by Japan Credit Rating Agency, Ltd (JCR). This rating will enable AFC to continue growing its footprint in Asian capital markets.

“The credit rating reflects AFC’s leading role in infrastructure development in Africa, the strong support from its member states and shareholders, the benefits of Preferred Creditor Status (PCS), its conservative financial policy, and its strong capital base,” JCR  stated in its  report.“ AFC employs diverse funding channels, including Eurobond issuance in international capital markets; borrowing from MDBs such as the African Development Bank, PROPARCO, DEG/FMO, KFW group, Export-Import Bank of China, Korea Development Bank, etc.; and financing from African, Chinese, European, Indian, Japanese and Middle Eastern private financial institutions.”

The Japan Credit Rating Agency’s A+ rating reflects AFC’s continued demonstration of solid capital adequacy, maintaining a Capital Adequacy Ratio of 33.6% and improving its Cost-to-Income Ratio to 17.3% in FYE2024. In 2024, AFC delivered remarkable financial results, posting a 22.8% increase in revenue to surpass US$1 billion for the first time, as well as a 16.7% rise in total assets to US$14.41 billion. Liquidity buffers remain well above prudential thresholds, with a liquidity coverage ratio of 194% under normal conditions and 191% on a stressed basis, underscoring AFC’s resilience.

JCR’s rating decision supports the Corporation’s ability to secure competitive borrowing costs. This financial strength underpins AFC’s ability to deliver transformational infrastructure projects across power, natural resources, transport and logistics, heavy industry, telecommunications, and technology—driving industrialisation and job creation across the continent. A notable example is the Lobito Corridor, where AFC serves as lead developer. Positioned to become one of Africa’s most strategic economic arteries, the corridor will connect Angola’s Port of Lobito on the Atlantic coast to Zambia through modernised rail infrastructure, enhancing regional trade, unlocking mineral value chains, and catalysing cross-border economic integration.

Other key AFC transactions include a US$150 million investment in the Kamoa-Kakula Copper Complex—Africa’s largest and one of the world’s most sustainable copper producers and leading the commercial financing of a €381.5 million package for the engineering, procurement, and construction of 186 bridges and critical upgrades to Angola’s road network, which will improve connectivity and boost regional trade.

Leading Japanese financial institutions—Mizuho Bank, MUFG Bank, and Sumitomo Mitsui Banking Corporation have been critical partners supporting AFC on its journey of transforming Africa, participating in multiple funding transactions including bilateral, syndicated and Samurai facilities. This partnership has extended beyond AFC’s own capital-raising efforts to broader support for African issuers. A notable example is the Arab Republic of Egypt’s inaugural Samurai Bond, where AFC acted as re-guarantor and SMBC served as guarantor, facilitating a successful JPY 75 billion private placement.

“Amidst a challenging global macroeconomic backdrop, this endorsement by JCR affirms AFC’s financial strength and credibility, enhancing our ability to mobilise competitively priced capital for transformative infrastructure projects across Africa,” said Banji Fehintola, Executive Board Member & Head, Financial Services at AFC. “It reinforces our position as a reliable institutional partner for Japan and a key driver of Africa-Japan cooperation.”

“In the challenging business environment, with increasing geopolitical instability in some African countries, AFC’s role in advancing infrastructure development in Africa as an MDB established by African countries is becoming more important, and support from member states and shareholders is expected to strengthen,” JCR analysts said, commending the Corporation. “AFC conducts appropriate risk management in the challenging business environment in Africa, ensuring strong profitability and building a sound financial structure. AFC has established risk management policies for various risks associated with its operations, including credit risk, market risk, liquidity risk, operational risk, assets and liabilities management (ALM) risk, and environmental/social policy risks,” they further reported.

Some of AFC’s landmark funding initiatives include the successful issuance of its US$500 million perpetual hybrid bond, the closing of a US$400 million Shariah-compliant Commodity Murabaha, and leading Nigeria’s inaugural domestic dollar bond issuance, which raised over US$900 million, with an oversubscription rate of 180%. These transactions underscore the Corporation’s innovative approach to capital markets, diversifying funding sources and enhancing its ability to finance transformational infrastructure projects across Africa.

For the full statement from Japan Credit Rating Agency, please click here (https://apo-opa.co/46j2eU9). 

– on behalf of Africa Finance Corporation (AFC).

Media Enquiries:
Yewande Thorpe
Communications
Africa Finance Corporation
Mobile: +234 1 279 9654
Email: yewande.thorpe@africafc.org

About AFC:
AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth.

Eighteen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 45 member countries and has invested over US$15 billion in 36 African countries since its inception. www.AfricaFC.org