The need for a responsible energy transition
How this transition can impact African social-economic development
Drivers of change
Changing responsibly
Impactful change
Climate change
The global energy transition is being driven by political, corporate and civil society in pursuit of the goals set by the international community to decarbonise globally. The energy industry is seeing Oil & Gas majors recalibrate their strategies and business models to a lower carbon energy system.
Growing demand
With a rising demand for the services that energy provides due to a growing population – many in Africa (600-800 million people) who remain without access to modern cheap reliable energy – the developing world must be able to responsibly create long-term social and economic value by efficiently optimising the potential of their natural resources.
Oil & Gas Transition
The Africa Oil & Gas industry is in the early stages of the same operator transition that the North Sea and the Gulf of Mexico have gone through with assets being transferred from majors to independents. IOCs are looking to responsibly exit out of assets which are either late life, not material or have a high carbon footprint.
Developing Economies
Whilst the developed world is seeking to deploy capital in a manner that actively supports the energy transition and lower carbon economies, developing economies currently lack the large scale capital required to support the industrial roll out of renewable technologies and remain largely reliant on traditional energy sources.
Global energy mix
There is a growing recognition that oil and natural gas play critical roles in today’s energy and economic systems; and that affordable, reliable supplies of liquids and gas are integral to the transition to a lower carbon world.
Maintaining supply
Without a responsible Oil & Gas industry, the transformation of the energy sector will be more difficult and more expensive. If capital markets are engaged correctly, independents can help to accelerate the pace of change and reduce the impact on the environment.
Emissions reduction
There are cost-effective opportunities to bring down the emissions intensity of delivered Oil & Gas by minimising flaring of associated gas and venting of CO2, tackling methane emissions, and integrating renewables and low-carbon energy where-ever possible.
Responsible investment
The best way to protect the climate is for investors to invest in responsible Oil & Gas companies with the imperative to reduce energy-related emissions in line with international climate targets.
GDP contribution
The economic contribution from natural resources is fundamental to many developing economies. It is therefore essential that investments in these resources continue as these developing economies navigate their journey through the energy transition.
Responsible Independents
There is a requirement in the market for responsible, well managed independents to acquire, operate and optimise post-peak assets in Africa. This will ensure the continued socio-economic benefit from these resources as the majors exit.
Building on capability
Independents can leverage the local resources and skills of the industry and ensure that they play a central role in responsibly managing these assets. The continuing transfer of knowledge can play an important role in the reduction of the emissions intensity of delivered Oil & Gas.
Attracting Capital
Accessing the necessary capital to invest in the continued development of these assets responsibly will only be possible by addressing investors ESG concerns. It is necessary for responsible independents to integrate an ESG agenda into their business model and operating approach in order to effectively manage business and opportunity risk.
Effecting sustainable change
Delivering value in the energy transition
Matching our business to the varied needs of our stakeholders
Our mission
Our integrated model
Our stakeholders
Africa’s strong economic growth alongside its growing population underpins our belief in the continent’s long-term Oil & Gas demand despite the structural evolution of the global energy system. We see a significant opportunity to drive responsible growth and prosperity for all stakeholders. Our strategy is simple, we only focus on proven hydrocarbon basins where fields have been discovered or are currently producing. The latent potential is therefore clear and Afentra just needs to unleash it, quickly and economically. We pursue operatorship with a large working interest so we have control over the safety, development and investment profile of our assets.
Afentra was created to take advantage of this opportunity in the African market, emulating the successful precedents set in the Gulf of Mexico and North Sea.
See our four-stage model to discover how we implement our strategy.
Defining legacy assets
- May no longer fit with a company’s strategy in Africa
- May need investment, regeneration or upgrading
- May be sub-economic for larger companies
Stakeholder returns
Our business model is designed to mitigate geological, political and financial risks to enable Afentra to deliver sustainable returns to its shareholders in the form of capital appreciation and dividends when appropriate. We do this by focusing on discovered resources in established operating jurisdictions, alongside credible partners, and by maintaining a stable balance sheet, underpinned by low-risk cash flow.
Assess & acquire
Our focus
- Opportunities that:
- Are value accretive
- Generate robust cash flow
- Have embedded growth opportunities
- Are strategically complementary
Optimise & produce
Our focus
- Emissions reduction
- Optimisation of subsurface facilities
- Returns enhancement
- Performance transparency
Reinvest & extend
Our focus
- Infield, outpost and undeveloped resource investment opportunities
- Funding further value accretive acquisitions
- Workforce and community development
- Acceleration of the de-carbonisation initiatives
Retire & convert
Our focus
- Responsible stewardship
- Restoration of the natural environment
- Safe decommissioning
Our cultural framework
Afentra’s cultural framework outlines our core principles, philosophies and values that guide our behaviours and enables us to drive our business forward and deliver on our purpose.
Our framework provides a strong foundation that supports our vision, guides our behaviours and influences the impact we make on the world around us.
Principles
Be Respectful
Be Transparent
Be Inclusive
Be Authentic
Values
Inspire
Collaborate
Enquire
Innovate
Approach
Think Long-term
Create Solutions
Leverage Learning
Focused and Nimble
Impact
One team
Positive difference
Enduring value
Experienced leadership
Afentra has established a strong executive team with a proven track record for creating value and positive stakeholder outcomes through delivery of material development and production projects across Africa. The team has an established network across the relevant stakeholder audiences, and direct experience of the energy transition in previous geographies. The Board bring significant industry and capital market experience as well as an unwavering commitment to all aspects of Governance. Their experience and expertise will ensure the responsible pursuit of strategic priorities intended to create value for all stakeholders.
Executive team
Non-Executive team
Chief Executive Officer
Paul McDade
His strong focus on delivering stakeholder value, shared prosperity, environmental performance and strong governance, coupled with his understanding of the role that Oil & Gas has to play in both the global and African energy transitions, makes him the ideal leader to deliver Afentra’s ambitious growth strategy, a company that will have stakeholder objectives and ESG embedded at its core.
Chief Operating Officer
Ian Cloke
He has first-hand experience in making a difference in countries having discovered and successfully delivered commercial Oil & Gas in Uganda, Kenya and Guyana amongst others. Having lived and travelled throughout Africa, he has enjoyed the full spectrum of life and business on the continent, making him an ideal founding partner and COO of Afentra.
Chief Financial Officer
Anastasia Deulina
Her primary focus is always on driving sustainable business growth that has a visible positive impact on the bottom-line. This, along with her significant prior board experience, both as a NED and committee member, and her strong global business development and financial network means that Anastasia provides expert leadership as Afentra’s CFO.
Independent Non-Executive Chairman
Jeffrey MacDonald
Independent Non-Executive Director
Gavin Wilson
Latest information
Investment case
- Energy transition creating compelling M&A pipeline of producing assets and proven resources
- Gap in market for credible operators to facilitate responsible transition
- Proven team with significant experience and industry track record in Africa
- Effective ESG agenda embedded in business model
- Strong balance sheet with no debt
- Uniquely placed to capitalise on market dynamic
News
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Investor presentation
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Annual report
News and media
Angolan Acquisitions & Resumption of Trading
Annual General Meeting 2022
The Changing Face of Energy
Sonangol SPA
Namibia’s new era of hydrocarbon exploration and production
Afentra set to seize upon ‘African energy transition’
Energy 2050 Africa Series Roundtable
credit: Frontier and the Africa E&P Summit
A just energy transition for Africa
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