With over 125 billion barrels of proven crude oil reserves and 620 trillion cubic feet of natural gas, Africa’s hydrocarbon resources have the potential to bolster energy access and long-term economic growth. Yet, to achieve all of its energy-related goals, the continent requires over $200 billion in annual financing, highlighting a substantial investment gap. Institutions such as Premier Invest play an instrumental part in advising clients across the industry on financial and strategic matters, and during AEW: Invest in African Energy 2024, Awambeng will unpack emerging project opportunities in Africa as well as strategies in place for closing the financing gap.
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.
Currently, Africa receives merely 5% of global energy investment, with access to funding gradually declining due to global shifts to renewable energy and macro-economic influencers. To address this financing challenge, Premier Invest offers a range of financial advisory services, supporting clients across the industry as they seek investment for small, medium and large-scale projects. Leveraging the firm’s depth of expertise across various industries and geographies, the company supports project development and financial insight. Beyond financing, Premier Invest provides advisory services related to strategic mergers and acquisitions (M&A). Partnering with public and private corporate clients, the company provides advice on all financial, strategic and tactical elements of evaluating and executing M&A transactions in Africa.
Africa is experiencing robust M&A activity across its oil and gas industry, owing largely to play-opening discoveries made in countries such as Namibia as well as new finds discovered in producing markets such as Angola. According to the African Energy Chamber’s (AEC) State of African Energy 2024 Outlook, M&A activity in Africa in 2023 reached a total transaction value of $3.2 billion. While this figure falls short of the transactions witnessed in previous years, in 2024, an upward trend of M&A activity is expected following the commercial success of offshore discoveries in southern and west Africa.
Specifically, Namibia has already seen a surge of M&A activity in 2024 following commercial success in the Orange Basin. Notable deals include Sintana Energy acquiring a stake in PEL 79; Azule Energy announcing its PEL 85 farm-in; Chevron acquiring a majority stake in PEL 82; and many more. Beyond Namibia, recent deals include the Abu Dhabi National Oil Company acquiring Galp Energias’ 10% interest in the Area 4 concession of Mozambique’s Rovuma basin in May 2024; TotalEnergies and QatarEnerg acquiring a majority stake in an exploration license in South Africa, and more. As Africa’s oil and gas market witnesses a surge in transactions, companies such as Premier Invest stand ready to support deals and projects.
“Africa cannot afford to keep its oil and gas resources in the ground and companies such as Premier Invest recognize this. Through its range of advisory services covering finance, M&A transactions, capital markets, restructuring and liability management and more, the firm is committed to supporting clients realize their goals in the African energy industry,” stated NJ Ayuk, Executive Chairman of the AEC.
During AEW: Invest in African Energy 2024, Awambeng will take part in a series of panel discussions while engaging with a host of African energy leaders and global investors. Awambeng’s participation speaks to the caliber of AEW: Invest in African Energy as the premier event for the African energy industry and will strengthen dialogue surrounding project financing.
Distributed by APO Group on behalf of African Energy Week (AEW).
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