Ian Cloke, COO of Afentra – one of Africa’s leading oil and gas independents – will speak on upstream opportunities within Africa’s growth markets at Invest in African Energy (IAE) 2024 in Paris, as the company seeks to optimize, redevelop and extend the lifespan of mature assets.
In Angola, Afentra is currently expanding its non-operated interests in Blocks 3/05 and 3/05A and recently gained approval for the acquisition of Block 23, focusing on high-quality, long-life shallow water production assets with significant upside. The London-listed company is working to maximize production and reserves, in partnership with operator and national oil company Sonangol, while reducing emissions and fostering synergies across its assets through an innovation-led approach.
IAE 2024 is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 14-15, 2024 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers.
In Angola and across the continent, shallow water assets represent a strategic point of entry for junior and independent explorers, as IOCs prioritize more capital-intensive developments and divest smaller assets to finance these operations. As a result, Africa’s oil and gas industry has seen a new wave of independents leading exploration in mature markets, including Afentra in Angola, Perenco in the Republic of Congo, BW Energy and VAALCO Energy in Gabon, and Africa Oil Corp. and Panoro Energy in Equatorial Guinea, among others.
“Afentra is leading the redevelopment of legacy assets in Angola, aiming to transition to operatorship and ultimately establish a balanced, pan-African project portfolio. Africa’s mature oil and gas markets present substantial opportunities for investors to optimize production and generate low-risk returns through EOR techniques and innovative technologies,” says Sandra Jeque, Event & Project Director of Energy Capital & Power, forum organizers.
