Angolan upstream firm ACREP has joined the African Energy Week (AEW): Invest in African Energy 2024 conference as a Co-Sponsor of the ‘Invest in Angola’ roundtable, facilitating dialogue between Angolan stakeholders and global investors on best practices to untap lucrative and burgeoning prospects within the country’s energy sector. Ahead of AEW: Invest in African Energy – taking place from 4 – 8 November in Cape Town – the African Energy Chamber spoke with Edilson Bartolomeu, CEO of ACREP about how the company is untapping Angola’s onshore prospects and driving oil and gas industry expansion.
In April this year, ACREP was awarded operatorship of Block KON 19 as part of Angola’s recent licensing round. How does the acquisition fall in line with the company’s strategic interests in Angola?
The acquisition of the block is aligned with ACREP’s strategy to strengthen its position as an operating company, while contributing to the expansion of Angola’s onshore sector. Block KON-19 offers significant potential for commercial discoveries, which could further diversify our portfolio and ensure long-term sustainability.
ACREP has assets in the onshore Cabinda Norte Block, where two marginal discoveries have been made. What is your outlook for Angola’s marginal fields?
Marginal fields present a unique opportunity for companies like ACREP, which possess experience in onshore operations and the technical capabilities to transform smaller discoveries into economically viable projects. In the Cabinda Norte Block, we are committed to conducting the necessary studies to maximize the value of these discoveries and carefully assess the best development options, should they prove to be commercially viable.
How does ACREP plan to deliver the Cabinda Sul Block to commercial success?
Our strategy is to transform the block into a commercially successful operation with long-term production. The development of the block is progressing. We are focusing on reopening wells, maximizing production potential and applying advanced technologies, such as artificial lift methods, to optimize production efficiency and reduce operational costs. We are committed to continuous studies for the potential development of the Sorgo, Coco and Massambala discoveries and a detailed study of the Bucomazi formation as an unconventional resource.
How does ACREP balance increasing oil production with the energy transition?
ACREP is committed to adopting sustainable practices in its operations. Our growth strategy includes increasing energy efficiency and using low-carbon technologies and renewable energy at our facilities. We are replacing diesel generators with photovoltaic panels for electricity generation at some facilities. We are also exploring diversifying our energy portfolio by leveraging existing gas reserves in the Noz field within the Cabinda Sul Block to become an independent energy producer. This will allow us to support the energy transition while continuing to increase oil production.
How can AEW: Invest in African Energy facilitate engagement between ACREP and fellow E&P firms?
AEW: Invest in African Energy is a crucial platform for promoting dialogue between ACREP and other upstream companies on the continent. The conference allows for the sharing of best practices, the creation of partnerships and access to new business opportunities. Networking and panel discussions are important moments to identify synergies with other companies, explore farm-in and farm-out opportunities, and strengthen our position in Africa’s energy market.
AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.
Distributed by APO Group on behalf of African Energy Chamber.