While global actors call for a shift to a renewable energy future, oil and gas serves to play a fundamental role in Africa for the long-term, providing the energy needed for the continent to industrialize and grow its economies. Integrating sustainable development practices within the African oil and gas sector, independent oil and gas company Afentra remains committed to unlocking the full potential of African oil and gas, a commitment which the company’s COO Ian Cloke is expected to drive at this year’s African Energy Week (AEW) conference – scheduled for October 16-20 in Cape Town.
Cloke, a returning guest speaker at this year’s edition of AEW – which serves as the biggest gathering of energy stakeholders on the continent – will drive discussions on the role that sustainable hydrocarbons play in Africa’s energy transition. With over 25 years’ experience in the energy industry, Cloke has worked with energy majors such as ExxonMobil and Tullow Oil, with his passion geared towards creating a sustainable energy sector. Cloke now heads Afentra, a company determined to drive responsible growth and prosperity for all its stakeholders by focusing on the optimization of active hydrocarbon basins in Africa. Afentra’s primary objective is to support the African energy transition by taking on the responsibility of producing oil and gas in a sustainable manner and using the company’s knowledge and expertise to enhance and prolong productivity in Africa's promising basins.
With the rest of the world pushing towards the end of fossil fuel utilization and actively seeking to invest capital that supports the transition to lower carbon economies and renewable energy technologies, Afentra is aware that developing economies lack the necessary large-scale capital to support the widespread adoption of renewable technologies and are still largely dependent on conventional energy sources. In knowing this, the company has taken the opportunity to acquire assets and employ them responsibly to achieve sustainable and low carbon outputs. While other independent oil companies have divested from assets, thereby looking towards investments in renewable energy, Afentra has established themselves as a suitable candidate for African governments in need of trading assets and a knowledgeable partner to advise and assist with low-carbon and sustainable production methods.
To this effect, Afentra is steadily expanding its presence in the African energy sector with the aim of becoming a reliable partner to both international oil companies and governments. The company has diversified its portfolio and recently made bold strides towards acquiring assets in Angola, the continent's largest oil producer, gaining interests in two major deals - an $80 million deal with national oil company Sonangol in Block 3/05 and 23 and a $12 million deal with INA in Block 3/05 and 3/05A. This has placed them as one of the top ranked consumers of oil and gas assets in the country.
“Afentra has a pivotal role to play in spearheading Africa's socioeconomic development by utilizing the continent's oil and gas resources in a sustainable, responsible, and low-risk manner. The company recognizes both Africa's pressing need to eliminate energy poverty and the global imperative to reduce carbon emissions and shift towards renewable energy. To strike a realistic balance between these two demands, Afentra has prioritized asset efficiency and profitability. As the company expands its operations in promising African markets, the outlook for the region's oil and gas sector is bright,” states NJ Ayuk, Executive Chairman of the AEC, adding that, “Cloke’s participation at AEW 2023 will be crucial for driving discussions.
Distributed by APO Group on behalf of African Energy Chamber.
For further information on the AEW 2023 conference, click the link below: https://apo-opa.info/3NBqdUA
About African Energy Week:
African Energy Week (AEW) is the AEC’s interactive exhibition and networking event, established in 2021, that seeks to unite African energy stakeholders, drive industry growth and development, and promote Africa as the destination for African-focused events.
