Angola's Oil and Gas Boom Fuels Demand for Finance, Legal Expertise
Consultancy firm EY is offering assurance, tax, law, strategy, and transaction services to companies operating in Angola.
LUANDA, Angola - A wave of investment is surging through Angola's oil and gas sector, with an anticipated pipeline of up to $60 billion in projects over the next five years, writes Winston Mwale.
This surge has created a robust demand for accessible financing and legal support, as energy giants like TotalEnergies, ExxonMobil, and Chevron, alongside exploration and production firms, ramp up their operations both onshore and offshore.
The Angola Oil & Gas conference & exhibition, taking place October 2-3, is poised to be a hub for these crucial discussions.
The event, backed by the Ministry of Mineral Resources, Oil and Gas, Sonangol, the National Oil, Gas and Biofuels Agency, the African Energy Chamber, and the Petroleum Derivatives Regulatory Institute, will serve as a platform for deal-making and driving Angola's oil and gas industry forward.
Financial institutions are stepping up to support this growth.
The Africa Finance Corporation (AFC) has invested $60 million in Etu Energias, Angola's largest private oil company, and is providing $100 million for the Cabinda Oil Refinery. Taiwo Okwor, Vice President: Investments at the AFC, will be outlining the impact of these investments at AOG 2024.
The Trade and Development Bank (TDB), a development finance institution focused on eastern and southern Africa, is also actively supporting the sector.
TDB Head: Coverage, Indian Ocean-Lusophone Orlando Chongo will be discussing downstream expansion and regional growth at the conference.
Regional players are playing a vital role. Standard Bank, Africa's largest lender by assets, is strengthening its support for capital-intensive projects in Angola, opening doors for projects across the oil and gas value chain.
Paul Eardley-Taylor, Standard Bank’s Head of Oil & Gas Coverage-Southern Africa, will be speaking on a panel titled "Beyond Oil: Angola’s Rise as a Gas Powerhouse" at AOG 2024.
Rand Merchant Bank (RMB) is another key player, with a strong track record of financing projects in trade, energy, and infrastructure. Liz Williamson, Head of Energy Corporate Finance at RMB, is speaking on a panel titled "Perspectives on Investment: The Key to Doing Business in Angola" at AOG 2024.
Legal expertise is equally critical. MC Jurist, a corporate and commercial law firm with over 20 years of experience in the Angolan petroleum sector, is offering a Master Class for petroleum and oilfield service providers at AOG 2024.
This session, led by Founding Partner Nuno Catanas, will provide companies with a comprehensive guide to crafting winning bids and contracts.
Other companies are also actively engaged. Insurance company Protteja Seguros is focused on enhancing financial strength and transparency in the Angolan oil and gas sector.
Kianda Troso, CEO of Protteja Seguros, is speaking on a panel titled "A Seat at the Table: Access to Finance for Angolan Service Companies."
Consultancy firm EY is offering assurance, tax, law, strategy, and transaction services to companies operating in Angola.
Andre Afonso, EY’s Partner and Energy Leader, Managing Partner Carlos Basto, Financial Services Consulting Leader João Rueff Tavares, and Global Risk Leader Rui Bastos will be speaking at the conference.
The AOG 2024 event promises to be a key meeting point for the Angolan oil and gas industry, bringing together investors, financiers, legal experts, and companies to discuss the challenges and opportunities presented by the sector's rapid growth.