Independent hydrocarbon producer, Perenco, has joined the Invest in African Energy (IAE) forum as a sponsor, affirming its commitment to investing in and maximizing Africa’s oil and gas resources.
Organised by Energy Capital & Power, IAE 2024 is an exclusive forum designed to foster collaboration between European investors and African energy markets. Taking place May 14-15, 2024, in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors, and policymakers.
Perenco CEO, Armel Simondin is confirmed to speak at the IAE forum and is expected to share the company’s development strategy and highlight Africa’s deepwater gas, LNG and FLNG as growing areas of investment.
Perenco has evolved into a regional leader in integrated oil and gas development. In Gabon, the company is leading the construction of the $1-billion Cap Lopez LNG terminal, set to transform the country into an LNG exporter through the production of 700,000 tons of LNG and 20,000 tons of LPG per year. Perenco also inaugurated its $50-million Batanga LPG plant in December, 2023, producing 15,000 tons of LPG dedicated to the local market and reducing Gabon’s imports by 40-50%. The gas produced will also contribute to a 20 MW power plant in Mayumba, supporting local electricity demand and showcasing Perenco’s commitment to securing Africa’s energy future.
The company is also investing in Africa’s offshore, with a focus on shallow-water and marginal assets. Last October, Perenco began production from its Hylia South West discovery offshore Gabon at a rate of 6,000 barrels per day (bpd) and recently spud an appraisal well nearby to determine the full potential of the reservoirs. In Cameroon, Perenco signed a 20-year PSC for the continued development of the Rio del Rey Basin – which has produced over one billion barrels – and brought online its offshore South Kole Marine oil development. The company acquired Eni’s non-core assets in the Republic of Congo for $300 million last June, as well as successfully completed an offshore 3D seismic acquisition campaign last November, in partnership with national oil company SNPC.
