Centurion Law Group acknowledges the need for an insufferable amount of pressure on Africa’s investment grid
JOHANNESBURG, South Africa, February 3, 2023/APO Group/ —
Diversification and Investment should be recognized as the pillars of development. As an innovative and client-focused firm, Centurion Law Group (https://CenturionLG.com) is pleased to announce its upcoming webinar, titled: “Investing in Africa with Centurion Law Group” on 21st February 2023.
Centurion Law Group acknowledges the need for an insufferable amount of pressure on Africa’s investment grid. With a rigid foundation on investment techniques and financing solutions, the African continent could reach its optimal economic potential.
During the webinar, a panel of high-level speakers will discuss the prying issues of local infrastructure, and incentives for investments beyond African borders. Specifically, the webinar will investigate how investments can be accelerated, beyond the borders of South Africa, Nigeria, Ghana, Cameroon, Mauritius, and Equatorial Guinea. The speakers will explore the ease of doing business, and the incorporation thereof; an improvement in banking systems; incentives for diversification; tax incentives for investors; real estate opportunities, etc, while making a strong case for an alternative, expert-backed solutions to current economic issues.
1. Yorm Abledu (Ghana)—Senior International Attorney
Yorm is a Senior International Attorney at Centurion Law Group and a Harvard-certified negotiator with considerable experience in Project Finance, Infrastructure Development, tax, real estate, and other notable key practice areas.
She is a corporate lawyer and legal academic who specializes in corporate law, energy, mergers and acquisitions, capital markets, corporate governance, and company secretarial services. Yorm has advised on several high-profile transactions. She is a seasoned advocate with extensive experience navigating regulatory affairs in Ghana and throughout Africa.
She was recently named the 2022 LexisNexis International Bar Association (IBA) Outstanding Young Lawyer of the Year in recognition of her work mentoring the next generation of legal minds, a commitment to professional and ethical standards, and dedication to the community at large and demonstrating excellence in her field.
2. Achare Takor (Cameroon)- Senior Attorney
Achare is an Associate Attorney and Head of the Intellectual Property Desk at Centurion Law Group.
As a skilled corporate lawyer with broad experience in varied legal jurisdictions, she shares her expertise to help clients navigate complexities in the oil and gas industry, debt recovery, immigration, Intellectual Property, Compliance and Transfer Pricing across Africa. Achare has vast experience in advising local and international clients in all areas of Intellectual Property law in many African jurisdictions. She provides invaluable guidance and oversight in matters related to business start-ups, established corporate negotiations and transactional mergers and acquisitions.
The webinar will investigate how investments can be accelerated, beyond the borders of South Africa, Nigeria, Ghana, Cameroon, Mauritius, and Equatorial Guinea
“Ashiv is an articulate, organised and driven senior legal advisor with more than ten years of diverse experience in providing legal assistance to various sectors of the corporate field in Mauritius. He specializes in contract drafting and review, real estate legal services and arbitration. Ashiv is an accomplished analytical thinker and passionate problem solver with the ability to read and interpret complex regulations and derive appropriate decisions and policies as a self-directed and driven advisor with a comprehensive background leading commercial lease negotiations, litigation, compliance, M&A closing and cross-functional teams to achieve goals and ensure success.”
4. Pablo Obama Mitogo (Equatorial Guinea) – Associate Attorney
Pablo is an Associate Attorney at Centurion’s Malabo office and Coordinator of the firms’ AfCFTA Desk. He advises clients on cross-border trade within the AfCTA area. Moreover, he advises clients on commercial and corporate law as well as litigation in related matters. Pablo has vast experience in contract negotiations and has successfully closed dozens of agreements. He focuses on negotiating difficult contracts between government agencies and companies in the construction, service delivery and energy sector and has negotiated various MOUs and joint venture agreements.
5. Mlunghisi Tlemo (South Africa) – Senior Associate
Mlunghisi is a senior associate at Centurion Law Group, with over 7 years post-articles experience in large infrastructure development projects, including, but not limited to energy and power transactions (such as renewable energy, oil & gas: local and cross-border and LNG), rolled-up through multi-faceted models namely Limited Recourse, PPP, Concessions, Private and Public Procurement. Mlunghisi also possess experience in general Corporate and Commercial work (M&A), Regulatory & Compliance, as well as Banking & Finance.
6. Tamararemi Jombai (Nigeria) – International Associate
Tamaraemi is an accomplished lawyer with over a decade of legal experience. She has extensive experience in a myriad of sectors including Oil & Gas, Project Finance, and emerging areas. She is eminently qualified in advising international entities on regulatory compliance, stakeholder engagement and overall legal matters.
Her experience in working as an International Associate at Centurion Law Group has gained her a reputation as one of the market leaders in Regulatory Compliance.
Tamaraemi has frequently led teams in the execution of highly complex transactions including the regulatory team in the historic transition of the Nigerian National Petroleum Corporation (Africa’s largest national oil corporation) to the Nigerian National Petroleum Company Limited and has shown a pervasive ability in providing proficient and efficient legal advice.
Join us:21 February 2023 at 12pmSAST
Distributed by APO Group on behalf of Centurion Law Group.
Chief executives from Perenco, Trident Energy, Tullow Oil and Afentra shared strategies to extend the lifespan of Africa’s ageing oil and gas assets during African Energy Week: Invest in African Energies 2024
CAPE TOWN, South Africa, November 9, 2024/APO Group/ —
Independent operators outlined new efforts to maximize production in Africa’s mature oil markets – including Gabon, Equatorial Guinea and Angola – during the Upstream E&P Forum at African Energy Week: Invest in African Energies 2024.
Africa’s mature oil markets are seeing a number of independent firms drive production gains, prioritizing incremental exploration and innovative technologies to breathe new life into existing assets.
In Gabon, Perenco launched appraisal drilling near its existing Hylia South West discovery to identify additional reservoirs and estimate oil volumes. Meanwhile, Trident Energy launched a three-well infill drilling campaign on Block G – home to the mature Ceiba and Okume fields – offshore Equatorial Guinea earlier this year.
“We are building our strategy around innovation and fit for purpose technology. You need to find economic ways to develop those fields. Technology is key in enabling us to extend the life of the field,” said Armel Simondin, CEO of Perenco SA.
“Operating mature fields is about mindset – having a very granular approach, taking care of the details, and revisiting all of the information acquired on the asset. Our creativity in taking over mature fields and reducing operating costs is where we can make a difference. IOCs sell assets because they don’t fit in the portfolio anymore – companies like us are going to fight for the barrel and for the dollar,” said Jean-Michel Jacoulot, CEO of Trident Energy.
Capacity constraints, ageing infrastructure and increased operational downtime continue to challenge operators of mature fields. According to Rahul Dhir, CEO of Tullow Oil, these issues can be addressed through cost-control mechanisms and investment in infrastructure and facility upgrades, which have seen high exploration success rates in its mature markets.
Operating mature fields is about mindset – having a very granular approach, taking care of the details, and revisiting all of the information acquired on the asset
“At our flagship Jubilee Field [in Ghana], we began sourcing the OEM contract internally, which has given us more control and lower costs. It’s a very holistic approach,” said Dhir, adding, “In Gabon, we have drilled approximately one exploration well per year over the last four years, with a success rate of about 80%. The existing infrastructure is there.”
Panelists emphasized the role of regulatory stability in effectively managing mature oil reservoirs, along with contractual frameworks that account for the unique, capital-intensive nature of mature fields.
“This stage of asset needs as much of a development plan as the original development concept. To make those five-year investment plans, you need an underlying licensing and regulatory environment. This gives us the runway to be confident to invest in the asset. Underlying stability of the environment is critical,” said Paul McDade, CEO of Afentra.
“Mature fields are not planned for in the early stage of contracts – many contracts are designed for greenfield investment. There is still progress to be made on improving these contracts. Mature fields require major investment because you need to compensate for the loss of energy in the reservoir,” said Simondin.
Afentra is focusing on optimizing, redeveloping and extending the lifespan of Africa’s legacy assets. In Angola, the company recently gained approval for the acquisition of Block 23, focusing on high-quality, long-life shallow water production assets with significant upside.
“In Angola, the phase of mature fields is quite early. With the asset we have, we have already discovered resources sitting near infrastructure that just haven’t been developed. We will go after that, before we even have to start spending exploration dollars,” said McDade.
Distributed by APO Group on behalf of African Energy Chamber.
In addition to preparing a new Gas Code, the country is set to launch a Gas Master Plan, offering a comprehensive strategy for the country’s gas sector
CAPE TOWN, South Africa, November 9, 2024/APO Group/ —
The Republic of Congo (ROC) is preparing a new Gas Code to incentivize investment across the natural gas value chain. Concurrently, the country is preparing to launch its Gas Master Plan (GMP), serving as a roadmap for investing in the ROC’s gas sector. These policies mark a pivotal step towards rolling out the requisite infrastructure to stimulate industrialization and economic growth.
Speaking at the Invest in Congo Energies country spotlight at African Energy Week: Invest in African Energies 2024, Maixent Raoul Ominga, Managing Director of the ROC’s national oil company Société Nationale des Pétroles du Congo (SNPC), said that “the GMP creates a framework for all those interested in investing in gas in ROC.”
In addition to the GMP, Ominga outlined how the country’s upcoming Gas Code serves as a “mechanism to ensure that the energy industry has become attractive. The code allows partners to invest and generate returns from exploration.”
As the NOC, the SNPC has played a central role in driving oil and gas projects forward. The company strives to boost infrastructure development with the aim of driving long-term and sustainable economic growth.
According to Abdullahi Bashir, Haske, Group Managing Director, AA&R Investment, “We have not even scratched the surface in terms of the ROC’s potential. The government has done a great job to ensure there is a structured environment for companies to do business. The SNPC and regulator work hand-in-hand to ensure everything is done in a timely and efficient manner. There is an aggressive push to make sure hydrocarbons are developed quickly.”
The government has done a great job to ensure there is a structured environment for companies to do business
With its significant resource base, forward-looking approach to policy implementation and commitment to low-carbon oil and gas, the ROC has emerged as a highly-attractive investment market. The country offers a wealth of opportunity for new players, and companies are already joining the market. Trident Energy, for example, entered the ROC in 2024 with the acquisition of Chevron’s ROC assets.
“Trident Energy signed PSAs to enter the ROC earlier this year and we are about to close these. We are happy to invest in the ROC. We are very confident that we can develop our business model in ROC. Our model is to take over mid-life assets and invest specific technologies to redevelop these assets and increase production,” said Eric Descourtieux, CFO, Trident Energy.
Additionally, the country’s regulatory landscape and industry outlook is incentivizing new players to join the market. Gerd Nji, CEO, Kariya Energy, said that “We have looked at the ROC extensively over the last two years, and there are so many things that attract us to invest in the market. Oil and gas infrastructure is key as this encourages new investments. The government also has a mandate to increase production to potentially 500,000 BPD. This is a good incentive.”
Going forward, the country aims to attract fresh investment across the growing oil and gas value chain. With the GMP and Gas Code, the ROC’s fiscal and regulatory environment has become increasingly more transparent, while making it simpler for companies to invest.
Yves Ollivier, Managing Director, CLG Congo, says “The Gas Code is in preparation, providing the legal and tax provisions for the industry. This is more beneficial [than previous regulation] and outlines permits, legal and tax provisions.”
The country’s gas policies also allow existing operators and service providers to strengthen their footprint across the market. Both SLB and Halliburton, for example, already have a strong presence in the market. Antoine Berel, Managing Director, Sub-Saharan Africa, Halliburton, explains that “we collaborate to maximize asset value across operations. Driving productivity is at the core of our operations. One of the key enablers we have is the digitalization of our workflow and automation of our processes.”
Meanwhile, Yannick Mouamba, Country Director, Congo and Gabon, SLB, shared that “When it comes to ROC, we have a strong track record, where we help our customer develop fields. In the ROC there is fiscal attractiveness. There are a lot of new operators coming to the game, offering the potential for the country to increase production.”
Distributed by APO Group on behalf of African Energy Chamber.
Nigerian indigenous firms discussed competitive advantages in shallow water operations and plans to expand into gas monetization during a special session on Nigeria’s new era of oil and gas growth
CAPE TOWN, South Africa, November 9, 2024/APO Group/ —
Companies from Nigeria’s Renaissance Consortium discussed their evolving business portfolios and investment strategies at the African Energy Week: Invest in African Energies conference on Wednesday.
Discussions explored the shifting dynamics in the Nigerian upstream sector, focusing on the trend of IOCs divesting shallow water and onshore operations in favor of deepwater acreage. The consortium includes ND Western, Aradel Holdings, the Petrolin Group, First E&P Development Company and Waltersmith Petroman Oil Ltd.
“The opportunity to step into IOC shoes in shallow water and onshore is not easy. However, the beauty of divestment is, because it is onshore, the basic infrastructure is there. As indigenous players, it gives us the opportunity to demonstrate our local know-how and play to our strengths in terms of terrain,” said Olarewaju Daramola Aradel, General Manager – Commercial, Aradel.
The session emphasized the current exploration and production capacity of indigenous firms, with Nigerian independents carving out strong competitive advantages in shallow water operations and developing strategic capabilities that can be applied across the value chain. First E&P, for instance, represents the first indigenous company to develop a greenfield asset in Nigerian shallow water.
We are deeply rooted in the science of the business
“We are deeply rooted in the science of the business. We look for technologies and development concepts that drive a UDC of $5 per barrel and a UTC of $15 per barrel. We are laser-focused on execution. This has created a competitive advantage in the shallow water offshore space,” said George Toriola, Chief Strategy & Operation Officer, First E&P.
Nigerian firms are driving significant increases in gas production and discussed plans to serve local and regional markets, with the potential to expand into midstream and downstream sectors in the future.
“We are the second-largest producer and supplier of gas to the domestic market in Nigeria, as well as regional sales to West Africa. We are currently producing 300 million standard cubic feet of gas per day and have a work program where we intend to double that production,” said Lanre Kalejaiye, CEO of ND Western.
“We have grown from a strictly upstream business to an integrated company with viable business lines across the oil and gas value chain… We are investing in targeted, viable projects that translate our oil and gas resource base into midstream gas processing and gas exports,” said Oladapo Filani, CEO of Waltersmith Petroman Oil Ltd.
Distributed by APO Group on behalf of African Energy Chamber.
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