Bastion Oil & Gas MD to Discuss State of Play of South African Energy at AEW 2023

The African Energy Chamber is proud to announce that Barrisford Petersen, Founder and Managing Director at Bastion Oil & Gas, will speak at the 2023 edition of African Energy Week.

Rich in a variety of natural and mineral resources, South Africa has emerged as a highly attractive investment destination for global financiers and project developers alike. The country’s attractive regulations, untapped energy basins and focus on increasing domestic energy capacity is poised to unlock high returns for stakeholders while bringing energy to the high-demand southern African market. For independent oil and gas companies such as Bastion Oil & Gas, the country is a particularly enticing market.

In this scenario, the African Energy Chamber (AEC) is proud to announce that Barrisford Petersen, Managing Director and Founder of South African-based oil and gas exploration firm Bastion Oil & Gas, will speak at this year’s edition of the African Energy Week (AEW) conference and exhibition – Africa’s premier event for the energy sector, scheduled for 16-20 October, 2023 in Cape Town. During the event, Petersen will outline Bastion Oil & Gas’ investment agenda while making a strong gas for gas power generation solutions in the current energy transition climate.

An international oil and gas law specialist with over 23 years’ experience in the energy sector, Petersen has facilitated the implementation of oil and gas projects across key markets in Africa including Egypt, Libya, Algeria, Equatorial Guinea, Mozambique, Botswana, Tanzania and many more. In South Africa, the executive played an instrumental role in the successful implementation of the Oribi, Oryx and Sable oil and gas projects in the Western Cape Province. His expertise lies in the legal sector while his commitment is on advancing energy security through sustainable power generation solutions such as natural gas.

As such, Petersen founded Bastion Oil & Gas under efforts of bringing affordable and sustainable energy to the people of South Africa. As an independent oil and gas firm, Bastion Oil & Gas is committed to driving the next wave of South African gas projects. The company applied for technical cooperation permits for three onshore gas projects in South Africa, all of which were granted and approved in 2021. These permits were identified as holding the potential for conversion into early development opportunities for the supply of gas for power generation purposes. Following permit approval, the company is advancing progress at the project sites.

As a natural gas play, South Africa holds immense potential for independents such as Bastion Oil & Gas. The country holds an estimated 60 trillion cubic feet of gas reserves while the Department of Mineral Resources and Energy estimates that the onshore Karoo Basin could hold as much as 209 trillion cubic feet of technically recoverable shale gas reserves. This introduced lucrative opportunities for onshore gas players such as Bastion Oil & Gas. For its part, the company’s strategy is to explore and develop high-value oil and gas assets, deploying its strong technical and innovative expertise to ensure project success. At the forefront of its sustainable agenda is power, and the company aligns all of its investments with developing and integrating power generation solutions for the benefit of the country. Onshore gas basins offer the opportunity for tie-in to existing power generation facilities, thereby presenting an enticing investment opportunity for companies such as Bastion Oil & Gas.

“Bastion Oil & Gas has the opportunity to lead South Africa into a new era of energy security on the back of onshore gas. Gas represents the fuel of the future for Africa, and through gas-to-power, countries such as South Africa are poised to stimulate long-term and sustainable economic growth. Bastion Oil & Gas is doing what South Africa needs, targeting assets that have the potential to unlock tangible opportunities for the local population,” states NJ Ayuk, Executive Chairman of the AEC.

During AEW 2023, Petersen will participate in high-level panel discussions, exclusive networking sessions and executive meetings centered on advancing sustainable exploration in Africa. Petersen will provide an update on Bastion Oil & Gas’ E&P efforts in South Africa while networking with a strong slate of investors and policymakers.

AEW is AEC’s annual energy event uniting African governments and policymakers with global investors. The event serves as the biggest gathering of energy stakeholders on the continent and is poised to drive new deals and investment across Africa’s growing energy market. For more information about attendance and participation opportunities, visit www.aecweek.com