As frontier exploration continues to shape investment in Africa, countries on the continent continue to benefit from unprecedented periods of economic growth on the back of first oil and gas production. Given the continent’s growing demand for industrialization and socioeconomic development, bringing new oil and gas supplies to the market has emerged as an area of focus for many international oil and gas exploration and production (E&P) companies. The role E&P companies, such as oil and gas supermajor Eni, play in driving investment into the African upstream sector will continue to shape the continent’s energy future while alleviating energy poverty.
As such, Eni has joined the African Energy Week (AEW) 2023 conference – taking place from 16-20 October in Cape Town – as a Bronze Sponsor, where the company’s participation will be critical towards shaping discussions around the continent’s energy future while reaffirming the event’s position as Africa’s premier energy event. The continued development of Africa’s abundant resources remains a pivotal factor in driving the continent’s economic growth, with Eni poised to showcase its commitment to large-scale projects and strategic partnerships during this year’s summit.
With over 60 years of experience in Africa and serving as one of the most active players in the continent’s E&P space, the supermajor has sought to expand its presence in the region and is expected to present its biggest achievements, current projects, and the role oil and gas development will play in Africa’s energy future at AEW 2023. Aligning with the company’s strategy to ensure and promote energy security, environmental sustainability, and socioeconomic development, Eni’s operational footprint in Africa includes work in Angola, Nigeria, Gabon, Ivory Coast, Ghana, the Republic of Congo, and Mozambique.
In Nigeria, Eni operates onshore Oil Mining Leases (OML) 60, 61, 62, and 63, and offshore OML 125 and OPL 245, which cover a developed and undeveloped acreage of over 27,964km2. The company also holds interests in conventional on- and offshore blocks in the West African country, resulting in an annual production rate of 11 million barrels of oil and condensate, 62 billion cubic feet of natural gas, and 23 million barrels of oil equivalent in hydrocarbon production. What’s more, the supermajor holds a 10.4% stake in Nigeria LNG Ltd., which operates the Bonny natural gas liquefaction plant in the eastern Niger Delta, and which boasts a production capacity of 22 million tons of LNG per year.
Meanwhile, serving as sub-Saharan Africa’s largest oil producer, Angola’s lucrative hydrocarbon assets are managed by Eni through its 50:50 joint venture with multinational oil and gas company bp, Azule Energy, which now acts as the country’s largest independent equity producer of oil and gas. In Angola, Eni’s main asset is Block 15/06, and holds 2 billion barrels equivalent of oil resources through 16 licenses, boasting a production rate of approximately 250,000 barrels per day.
In November 2022, Eni announced the first shipment of Liquefied Natural Gas (LNG) produced from the Coral Gas field in the ultra-deep waters of the Rovuma Basin in Mozambique. With a liquefaction capacity of 3.4 million tons per year, Eni will provide LNG from the reservoir’s 450 billion cubic meters of gas, thus marking an important contribution to energy security in the region while ensuring the diversification of gas supplies to international markets.
Meanwhile, upstream activities carried out in the Pointe-Noire and Koilou regions of the Republic of Congo is poised to result in the export of approximately 4.5 billion cubic meters of gas by 2025. Increasing the production of gas in the Central African country will enhance commercialization of the country’s resource-base while bringing much-needed energy and investment to the region. Additionally, in August 2023, Eni started oil and gas production at the Baleine field in Côte d’Ivoire, while in July 2021, the supermajor announced a significant oil discovery on the Eban exploration prospect in CTP Block 4, offshore Ghana.
“For decades, Eni has served as a strong partner for African energy. The company’s operations in the countries where it operates highlight its steadfast dedication to unlocking the full potential of African oil and gas while strongly supporting sustainable socioeconomic development,” stated NJ Ayuk, Executive Chairman of the African Energy Chamber (AEC), adding, “Eni’s ongoing investments and collaborative efforts ensuring energy security on the continent showcases the major as a strong partner for both regional and global players.”
As a Bronze Sponsor at AEW 2023, Eni will participate in exclusive networking and panel sessions, showcasing the company’s growth strategy. During this year’s edition, Eni is expected to illustrate the role it plays in Africa’s just energy transition while highlighting its ambition towards catalyzing investment and development across the continent’s burgeoning energy market.
Distributed by APO Group on behalf of African Energy Chamber.
About African Energy Week:
AEW is the AEC’s annual conference, exhibition, and networking event. AEW 2023 will unite African energy policymakers and stakeholders with global investors to discuss and maximize opportunities within the continent’s entire energy industry. For more information about AEW 2023, visit https://AECWeek.com.