Deulina: Scaling oil production in Congo requires investment, time

The Chief Financial Officer at Afentra, Anastasia Deulina, recently shared insights on the challenges and opportunities in scaling oil production in Congo during an interview with CNBC Africa at the Inaugural Congo Energy & Investment Forum. Deulina emphasized the need for substantial investment and time to achieve the ambitious goal of 500,000 barrels per day set by the government. Drawing on Afentra's experiences in Angola, she highlighted the potential for replicating successful strategies in Congo through strategic partnerships. Deulina underscored the importance of collaboration with local players and key stakeholders to build technical and financial capacity in the region. Deulina reflected on Afentra's journey in Angola, a neighboring country to Congo, which began in 2022. Despite entering the Angolan market relatively recently, Afentra has emerged as a significant independent producer with a production capacity of approximately 7,000 barrels per day in 2024. Leveraging partnerships with key industry players like Sonangol and local companies, Afentra aims to contribute to Congo's oil sector growth by sharing expertise and resources. Deulina emphasized the company's commitment to working in tandem with CNPC and other stakeholders to drive sustainable development and benefit both the country and its shareholders. Addressing the challenges of scaling up oil production, Deulina highlighted the need for substantial capital investment and a strategic approach to development. While acknowledging the contributions of major industry players like Total, she noted the increasing role of independent operators in sustaining growth and investment in emerging markets like West Africa. Deulina stressed the importance of continuity and long-term commitment to projects, emphasizing that significant production increases require both time and financial resources. In discussing Afentra's Pan-African strategy, Deulina outlined the company's focus on mature assets in West Africa, including neglected oil fields with potential for redevelopment. By adopting a collaborative approach with partners like Sonangol, Afentra seeks to replicate its successes across different regions, including Congo. Deulina highlighted the productive partnership with Sonangol in Angola, underscoring the importance of knowledge sharing, technical expertise, and collaborative decision-making in driving production growth. One key takeaway from the interview was the emphasis on gas production as a critical component of Congo's energy sector. Deulina highlighted the significant opportunities in the gas market, particularly in the context of increasing global demand for LNG. Pointing to the success stories of industry peers like E&I and Total, she expressed optimism about the potential for rapid production growth in Congo through efficient project execution and strategic resource management. In conclusion, Deulina's insights shed light on the complex dynamics of oil production in Congo and the essential role of partnerships, investment, and long-term vision in driving sustainable growth. As the country strives to achieve its production targets, collaboration between government, industry players, and independent operators like Afentra will be crucial in realizing the full potential of Congo's oil sector.