Global investment firm Premier Invest entered into a partnership with energy major Shell last month to facilitate financing for oil and gas projects across Africa. Through this strategic collaboration, the two companies will work together to identify and co-finance transactions in the region, aiming for substantial returns while benefiting local communities and economies.
Premier Invest has joined the African Energy Week (AEW): Invest in African Energy conference – November 4-8 – as a silver sponsor in line with efforts to champion energy investment in Africa. The company’s Managing Partner Rene Awambeng is also speaking at the event, providing insight into how this partnership and other initiatives led by Premier Invest will advance project development in Africa.
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.
Africa currently receives less than 5% of global energy-related investment, which hinders the implementation of large-scale energy projects across the continent – especially in oil and gas. The lack of foreign direct investment further impedes the development of infrastructure for refining petroleum products and expanding power generation and distribution capacity. Premier Invest aims to address these challenges by offering key financial advisory services including strategic and M&A advisory, capital markets support and restructuring. The company serves as an advisor for leaders in business and government, with a focus on local expertise and global reach.
As the continent witnesses increased M&A activity, particularly in its upstream sector, the company’s role as a financial advisor is imperative. In the first two quarters of 2024, significant oil and gas acquisitions targeted southern African assets, emphasizing frontier exploration and LNG projects. Notable deals include international oil company Azule Energy’s acquisition of a 42.5% interest in Namibia’s Block 2914A; Abu Dhabi National Oil Company purchase of a 10% equity stake in Mozambique’s Area 4; and Canadian independent Renaissance Africa Energy’s acquisition of interests in Shell Petroleum Development Company in Nigeria. These transactions reflect a broader trend of increased M&A activity in Africa’s upstream sector, where companies seek to leverage the continent’s hydrocarbon resources for energy security and economic growth. Premier Invest fits into this dynamic space by providing essential financial advisory services to facilitate these transformative transactions, thereby contributing to the continent’s energy development and economic growth.
In May, the company signed a six-month agreement with Gabon Oil Company (GOC) to raise $1.2 billion to acquire Gabonese oil producer Assala Energy and its assets from US equity firm Carlyle. This acquisition would mean that GOC would take ownership of assets including seven onshore production licenses, a pipeline network and the Gamba export terminal in Gabon. This is significant as it will enhance Gabon’s energy infrastructure and production capabilities and give GOC greater responsibility and control over Gabonese assets.
“Premier Invest’s strategic partnership with Shell and GOC is a leap forward for Africa’s energy landscape. By championing investments in African energy projects, the company is not only addressing the continent’s critical need for financial resources but also driving sustainable economic growth. Its role as a financial advisor is vital in unlocking Africa’s vast energy potential, ensuring energy security and long-term prosperity,” states NJ Ayuk, Executive Chairman of the African Energy Chamber.
During AEW: Invest in African Energy 2024, Premier Invest will leverage its participation to connect with African leaders, industry stakeholders and global energy players. This engagement will provide opportunities to discuss collaborative projects and share insights on advancing Africa’s energy sector. AEW: Invest in African Energy 2024 serves as a platform for Premier Invest to showcase its vision for the continent’s energy future and explore strategic partnerships that can drive progress and innovation.
Distributed by APO Group on behalf of African Energy Chamber.