Championing Sustainable Growth in Africa's Marginal Fields: Afentra Joins African Energy Chamber 2023 as a Bronze Sponsor

The African Energy Chamber welcomes Afentra as a bronze sponsor of this year’s African Energy Week conference, where the firm will showcase efforts to spearhead the sustainable development of the continent’s marginal fields.

Africa's oil and gas resources assume a pivotal role in the energy transition, contributing to energy security and revenue generation while fostering opportunities for cleaner energy adoption and sustainability. In this scenario, collaboration with dedicated sustainable energy champions like Afentra, a UK-based independent oil and gas company, becomes imperative for nurturing a responsible transition.

In this regard, Africa’s premier event for the energy sector, African Energy Week (AEW) - taking place from 16–20 October in Cape Town –, is proud to welcome Afentra as a bronze sponsor. At the event, Afentra representatives, including Ian Cloke, the company's COO, will actively engage in high-level panel discussions, demonstrating the firm's commitment to advancing the energy transition in Africa. Afentra recognizes the strategic importance of developing Africa’s oil and gas resources in a sustainable approach, and will drive such discussions at this year’s conference in Cape Town.

Despite global pressures to transition away from oil and gas, African resource-rich countries are prioritizing the development of oil and gas under efforts to scale up sustainable development and energy security. Africa has an estimated 125.3 billion barrels of proven crude oil and 620 trillion cubic feet of proven gas reserves: resources which are poised to provide affordable and resilient energy to the over 600 million people currently grappling with energy poverty. Afentra has firmly established itself as a reliable partner in this endeavor, and is dedicated to enhancing the exploration, development and production of African resources.

Afentra has a vision to become a trusted partner for both international oil companies and host governments, managing acquired assets responsibly and turning them profitable. The company leverages technology to strategically unleash full asset potential while reducing carbon emissions, thereby positioning oil and gas at the forefront of the energy transition. The company collaborates closely with African National Oil Companies (NOCs) while forging partnerships with global stakeholders to increase investment in African oil and gas.

Afentra is actively involved in several projects in Angola and Somaliland. In Angola, the company’s portfolio comprises a 4% non-operated interest in the long-life, offshore production Block 3/05 and an up to 5.33% interest in the adjacent Block 3/05A - offering additional development potential. An $80 million agreement with NOC Sonangol for Block 3/05 and 23 in May 2023 and a $12 million deal with INA in Block 3/05 and 3/05A marked the company’s entry into the Angolan market. Afentra also has a 34% non-operated (carried) interest in the Odewayne Block, onshore Somaliland. Going forward, Afentra remains committed to developing mid-life producing assets that are no longer aligned with global energy major strategies, thereby supporting ongoing production efforts in the age of divestment.

As a Bronze Sponsor at AEW 2023, Afentra will have access to the event’s exclusive networking sessions, providing an opportunity for the company's representatives to engage with African energy policymakers and influential industry stakeholders. During these sessions, Afentra will highlight its strategic growth initiatives in Africa and explore potential deals to exploit investment and partnership opportunities within the African energy landscape.

“The global transition towards low-carbon energy sources has amplified the role of companies like Afentra in contributing value to African economies. Given a substantial portion of the African population lacks access to modern and affordable energy, Afentra plays a pivotal role in enhancing resource utilization to ensure long-term energy security. In Africa's journey towards renewable energy, hydrocarbons will act as a catalyst, and Afentra has emerged as a key enabler in facilitating this transition,” stated NJ Ayuk, the Executive Chairman of the African Energy Chamber (AEC).

September 12, 2023