Afentra CEO to discuss mature field strategies at Congo Energy Forum 2025
The Congo Energy & Investment Forum (CEIF) is set to take place on March 25-26, 2025, in Brazzaville, Republic of Congo.
This inaugural event aims to connect international investors with local stakeholders to explore various energy and infrastructure opportunities within the country.
The forum will focus on several key areas including gas-to-power projects and ongoing expansions in the Congolese energy sector.
Paul McDade, the CEO of Afentra, has been confirmed as a speaker at this important forum. His participation is particularly significant given Afentra’s recent successes in Angola, where the company has effectively optimized mid-life oilfields. McDade will share insights into strategies that have proven successful in Angola and how these can be adapted to unlock potential in mature fields within the Republic of Congo.
Afentra’s strategy in Angola
Afentra entered the Angolan market in May 2023 and subsequently secured additional interests in offshore oil blocks through a sale and purchase agreement with Azule Energy. This acquisition included a 12% interest in Block 3/05 and a 16% stake in Block 3/05A for up to $84.5 million. The company’s approach emphasizes optimizing existing assets rather than exploring new fields, which aligns with its goal of sustainable production growth.
The Republic of Congo presents similar opportunities as those encountered by Afentra in Angola. The government aims to revitalize mature oilfields and increase production capacity significantly—targeting an output of 500,000 barrels per day by 2027. McDade’s insights are expected to provide valuable guidance on how to achieve these ambitious goals through effective asset management.
Focusing on the Lower Congo Basin, Afentra is building a portfolio of mid-life producing assets that fall outside the core priorities of major oil companies. The company’s strategy emphasizes optimizing, redeveloping and extending the life of these assets in a safe and responsible manner, while minimizing emissions. This approach directly aligns with the Republic of Congo’s goal to revitalize mature fields and increase oil production to 500,000 barrels per day by 2027.
