Afentra’s Paul Mcdade will participate at the continent’s premier energy event, shaping energy transition discussions while promoting sustainable exploration and production in Africa.
Paul McDade, CEO of UK-based oil and gas company, Afentra, will be coming to African Energy Week (AEW) – taking place from October 18-21, 2022, in Cape Town – to discuss the energy transition and driving sustainable E&P activity in Africa. The CEO will be leading and participating in panel discussions and networking events, making a strong case for African exploration while setting the tone for the continent’s just transition in 2022 and beyond.
With over 35 years of experience in the oil and gas sector and having served as the CEO of Tullow Oil – an Africa focused exploration and production firm – McDade is well positioned to drive AEW 2022 discussions around how African oil and gas firms can optimize their environmental performance while boosting output. Having co-founded the Afentra, McDade has taken a new approach to African exploration, advancing the firms portfolio through asset acquisition in key basins. Led by McDade, Afentra’s model is innovative, with the firms taking over assets from global majors divesting from African fossil fuels. By stepping up as a credible partner for producing nations, introducing carbon reduction technologies across key project developments, Afentra is leading Africa into a new era of environmentally sustainable hydrocarbon development.
Afentra’s most recent achievement involves the company’s Angola debut with an $80 million acquisition deal for two offshore blocks in the Lower Congo and Kwanza Basins with state energy company Sonangol. This move, among others the company is undertaking, positions the company as an ideal participant in any and all discussions on African hydrocarbon development. At AEW 2022, McDade will provide the latest information regarding the company’s plans in increasing investments and energy output in Angola and across the continent. With majors exiting some of the continent’s unexploited markets, McDade will share insights on the role independents such as Afentra will play in positioning Africa as a global energy hub through increased exploration and production in both frontier markets such as Kenya, Namibia, Ethiopia, Ghana and Tanzania and in marginal fields.
“The Chamber is honored to host Afentra at this year’s edition of AEW 2022 where McDade will shed insights on the rapidly changing energy sector and how Africa can adapt to these changes while delivering a just and inclusive energy transition that will address the continent’s energy poverty, reliability and affordability issues,” states NJ Ayuk, Executive Chairman of the African Energy Chamber (AEC), adding that, “Afentra has taken a bold step by acquiring two offshore blocks in Angola, bringing in new investments and technical expertise which are required to accelerate the country’s oil and gas output. We hope to see the positive impact of the transaction in enhancing the country’s local content development.”
Committed to helping Africa realize its economic and social development objectives through the sustainable and optimal exploitation of oil and gas resources, the participation of Afentra executives at AEW 2022 will be crucial in helping African energy stakeholders gain insight into how to develop African oil and gas in a sustainable manner. While the energy transition and related global climate policies disrupt Africa’s hydrocarbon landscape resulting in limited investments to boost exploration, production and the rollout of infrastructure across the entire oil and gas value chain, sustainable solutions introduced by market players such as Afentra provide an opportunity for the continent to maximize the exploitation of domestic energy resources to address poverty and fuel industrialization while committing to emission reduction and sustainable development.
At AEW 2022, Afentra executives will feature in high-level discussions across various summits such as the Energy Transition Forum, the African Independents Forum and investor summits to discuss the future of the African energy sector.
AEW 2022 is the AEC’s annual conference, exhibition and networking event. AEW 2022 unites African energy stakeholders with investors and international partners to drive industry growth and development and promote Africa as the destination for energy investments. Key organizations such as the African Petroleum Producers Organization, as well as African heavyweights including Equatorial Guinea and Nigeria, have partnered with AEW, strengthening the role the event will play in Africa’s energy future.
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