In an interview with Energy Capital & Power at the Congo Energy & Investment Forum (CEIF) last month, Deulina revealed that no new wells have been drilled in the block for the past decade. However, the company is now considering the potential for new exploration wells as part of its ambitious strategy in Angola. This move is aligned with Afentra’s broader goals of enhancing its presence and increasing output in the region.

What projects are you currently prioritizing to achieve your investment and production targets?

We have acquired assets in Angola in three different transactions and increased production from around 17,000 barrels to about 22,000 barrels [per day] within a short period of time. We are working with Sonangol to optimize production in Block 3/05. We are evaluating a range of investments to support and upgrade the existing infrastructure, much of which has been in place for 20 to 40 years and now requires reinforcement. We are also exploring the installation of water injection systems and we have carried out several light well injections over the past two years.

What does Afentra’s short- to medium-term expansion strategy look like?

All the producing markets in West Africa are of great interest to us. Congo is at the very top of our list to find opportunities for us to invest in. We heard about the Gas Master Plan, which Congo is prioritizing, and we are interested in both oil and gas projects. Our current assets in Angola are located offshore in shallow waters, so we are naturally interested in similar shallow-water opportunities in Congo, as well as onshore developments. We are [at CEIF] to learn about the available opportunities and how we can cooperate with the government and local entities.

How does Africa attract and mobilize capital to fund development projects across the continent?

One of the most interesting dynamics about Africa is its relative stability. Many financing institutions are turning their attention to Africa, making debt financing for projects increasingly accessible. While equity financing can be slightly more complex, it is not a concern for us. As a well-established public company, we benefit from strong support from our existing shareholders. In addition, we continue to engage with new partners who are eager to invest in large-scale projects. In our experience, it’s often easier to attract investors for major developments than for smaller ones.