Ahonsi Unuigbe, Founder and CEO of Nigerian exploration and production company Petralon Energy, will speak at the African Energy Week (AEW): Invest in African Energy conference - taking place from 4–8 November in Cape Town. During the event, Unuigbe will engage with global investors, showcasing Petralon Energy’s project pipeline and lucrative partnership prospects within Africa’s expanding oil and gas industry.
Petralon Energy inked a deal with logistics firm First Priority Resources International Limited in 2023 for the transportation of oil extracted from the Dawes Island Marginal Field to the Ajapa FSO offtake terminal. The arrangement aims to optimize the monetization of Nigeria's energy resources across local and export markets for enhanced energy security and bolstered GDP growth. Petralon Energy's accomplishments and growth strategy in Africa's oil and gas sector will be outlined during AEW: Invest in African Energy this November.
AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.
In recent years, Petralon Energy has been expanding its footprint across Africa, raising the required financing to acquire blocks and accelerate the development of assets. The company raised $60 million within six months in 2022 to fund the acquisition of stakes in two of Nigeria's major producing deep-water blocks - OML 127 with 270 million barrels of crude oil (mmbbls) and OML 130 with 638 mmbbls in reserves. The deal strengthened the firm’s portfolio in Nigeria, which additionally includes operating interests in Block OPL 2006 and the Bonny Terminal, as well as non-operating stakes in the OML 127 and 130 blocks.
In Angola, Petralon Energy participated in an oil and gas bidding round in 2021, covering nine onshore blocks launched by the National Oil, Gas and Biofuels Agency – the country’s national regulator and concessionaire. Additionally, leveraging its expertise in the Nigerian market, the company is looking at expanding its presence in Africa even further through the acquisition of strategic assets. AEW: Invest in African Energy represents a critical opportunity for Petralon Energy to progress with this goal, promoting the country’s growth strategy.
“Petralon Energy has leveraged collaboration with global stakeholders, experience in financial markets and oil and gas industry know-how to drive the growth of Nigeria’s energy sector. The company will be crucial in bringing in fresh investments for Nigeria – as well as regional markets - to achieve energy security and industrialization targets,” stated NJ Ayuk, the Executive Chairman of the African Energy Chamber.
During AEW: Invest in African Energy, Unuigbe’s insights will be crucial for shaping conversations around the state of play of Africa’s oil and gas markets. Committed to promoting the role of Africa’s indigenous oil and gas operators, Petralon Energy’s mission to increase its presence across the continent will be supported through opportunities created by the AEW: Invest in African Energy conference. Petralon Energy is a Diamond Sponsor of the conference as well as sponsor of the Africa Energy Awards and Gala Dinner. Under the theme Energy Growth through an Enabling Environment, AEW: Invest in African Energy 2024 will host Unuigbe in panel discussions and exclusive networking sessions, focusing on investment prospects within Africa's oil and gas value chain.
Distributed by APO Group on behalf of African Energy Chamber.
