Cloke joins Afentra CEO Paul McDade at the continent’s premier event for the oil and gas industry to discuss the role of oil and gas in Africa’s energy future.
While Africa faces the impacts of climate change warranting the need to reduce emissions across the energy sector, over 600 million people still lack access to electricity, emphasizing the need for the continent to maximize its oil and gas resources. Stepping into this picture, independent oil and gas company, Afentra, under the guidance of co-founder and COO, Ian Cloke, has been making moves across the African industry, taking over assets from international oil companies (IOC) and developing hydrocarbons in a sustainable manner. Having been confirmed as a speaker and participant at the continent’s premier event for the oil and gas sector, African Energy Week (AEW) – taking place from October 18-21, 2022, in Cape Town – Cloke will meet and engage with other African stakeholders, driving discussions on oil, gas and Africa’s energy transition.
With over 25 years’ experience in the oil and gas sector, Cloke’s expertise has seen him work for global energy majors including Mobil Oil, ExxonMobil and Tullow Oil. Having co-founded Afentra, Cloke aligned his focus on effecting sustainable change across Africa’s oil and gas industry – Afentra’s purpose is to support the African energy transition as a responsible, well managed independent, enabling the continued economic and social development of African economies and bridging the gap to other renewable forms of energy. Capitalizing on the departure of IOCs in Africa, Afentra, co-led by Cloke, focuses on asset acquisition, deploying the company’s knowledge and expertise to optimize and extend productivity across Africa’s high potential basins.
The 2022 energy landscape encompasses international stakeholders calling for the end to fossil fuel utilization, a significantly reduced capital expenditure climate owing to energy transition-COVID-19 impacts, and IOCs looking at responsibly exiting assets, pursuing low carbon energies such as renewables. With the current operator transition seeing IOCs transferring assets to independents, Afentra has consolidated its position as the preferred partner for host governments, acquiring such assets and driving development through the implementation of low-carbon and sustainable technologies. This way, Afentra is not only ensuring Africa continues to benefit from its oil and gas resources, but that the development of these resources is achieved in a low-carbon manner, thus, ensuring the transition to a clean energy future on the back of oil and gas.
Under a mission to become the trusted partner of both IOCs and host governments in the divestment of legacy assets, Afentra is gradually strengthening its footprint across the African energy sector, with new acquisitions broadening the company’s portfolio. Recently, Afentra signed an agreement with Angola’s national oil company, Sonangol, for the purchase of interests in Block 3/05 and Block 23, offshore Angola – representing the company’s entry into the now biggest oil producer on the continent. As Afentra expands into other high potential markets across Africa, the future of the continent’s oil and gas sector seems bright, with independents leading the way towards a sustainably developed hydrocarbon industry.
“Afentra represents the kind of company that will drive Africa’s socioeconomic development. Rather than abandon the continent’s oil and gas resources, Afentra recognizes the role that oil and gas will play in making energy poverty history by 2030. Africa needs its oil and gas and Afentra knows this. By managing assets responsibly, Afentra is driving the transition to a low-carbon, sustainable future and by turning assets profitable, prioritizing efficiency and commerciality, the company is promoting socioeconomic growth and paving the way for a more developed future in Africa,” states NJ Ayuk, Executive Chairman of the African Energy Chamber, adding that, “By coming to AEW 2022 in Cape Town, Ian Cloke will be at the center of all discussions on sustainable hydrocarbon development in Africa.”
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.