Strategic Fuel Fund on a drive to acquire key oil and gas assets across Africa
Angola offers the right type of environment with mature fields and the political leadership needed for successful ventures, fund's CEO believes
SA's state-owned oil company, the Strategic Fuel Fund (SFF), is seeking to intensify efforts to invest in and acquire key oil and gas assets across Africa. SA is the largest refiner in sub-Saharan Africa and the government is planning additional refining and petrochemicals units that will all require crude oil and natural gas supplies that do not exist domestically. Earlier in May, the SFF signed an exploration and production sharing agreement with South Sudan, which has the third-largest oil reserves in sub-Saharan Africa estimated at 3.5-billion barrels, with just 30% of the country explored. In 2018, SA agreed to invest about $1bn in South Sudan’s energy infrastructure. In March, energy minister Jeff Radebe defended the agreement, saying the move was aimed at securing affordable oil supplies for the country. Speaking ahead of the Angola Oil & Gas Conference, scheduled to be held in Luanda from June 4 to 6, Godfrey Moagi, the acting CEO of the SFF, said the fund was seeking to i...
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