In Conversation with Rene Awambeng: Angola’s Energy Future and the New Logic of Capital

The Angola Oil & Gas (AOG) Conference has long been a bellwether for Africa’s energy ambitions. This year, the message resonating through Luanda’s conference halls was unmistakable: international majors are doubling down on Angola, committing billions in fresh capital while aligning their strategies with sustainability, diversification, and local empowerment.

We caught up with Rene Awambeng, Managing Partner of Premier Invest, to unpack these announcements and explore their broader significance for Africa’s financial and energy landscape.

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Billions Committed, Future Defined

Energy majors announced transformative investments at AOG 2025:

• Eni confirmed a $5 billion package, with $2 billion earmarked for 2025 and the remainder over five years. Central to this strategy is the Azule Energy joint venture, reinforcing Angola’s leadership in gas exploration and production. Beyond hydrocarbons, Eni’s agenda spans agricultural initiatives, renewable projects like the Kalkuta plant, refinery modernisation for sustainable aviation fuel, and wider decarbonisation programmes.
• BP highlighted its 25-year partnership with Sonangol, noting that 85% of its Angolan workforce is local. Through Azule Energy, bp showcased the Agogo FPSO, capable of 175,000 barrels per day, supported by 30,000 tons of equipment. bp has injected $2.7 billion into the local supply chain,and announced plans for a new supply trading office in Luanda, fresh gas concessions, and drilling in Bloc 31.
• TotalEnergies underscored Angola’s centrality to its global portfolio, operating six FPSOs that deliver half the nation’s oil production. For 2025, projects include the Begonia field development, the $6 billion Caminio FPSO project (with Sonangol and Petronas), and a $3 billion investment in the Dalia Field. TotalEnergies also spotlighted its sustainability drive: 53 EV-enabled service stations, the Kimberly Green Energy plan in Lubango, and expanded vocational training partnerships.

As Rene notes:

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“When three of the world’s largest energy companies commit at this scale and link their strategies to sustainability and local empowerment: it is a signal that Angola is not only a cornerstone of Africa’s energy present, but of its future.”

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Beyond Hydrocarbons: A Broader Vision

The conference highlighted Angola’s growing role in shaping Africa’s energy transition. Investments are moving beyond traditional oil and gas to encompass

• Renewables — with solar and green energy projects gaining traction.
• Decarbonisation technologies — from carbon capture to sustainable fuels.
• Community investments — in healthcare, landmine clearance, and education.

This alignment reflects a global reality: today’s capital is measured not only on financial return, but also by its contribution to resilience, climate goals, and inclusive growth.

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The Finance Challenge

Behind each billion-dollar announcement lies a deeper question: how will these projects be financed and delivered at scale?

René is clear:

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“The challenge is not just mobilising capital but structuring it so that it delivers both profit and progress. We need blended finance frameworks where sovereign wealth funds, DFIs, and private capital co-invest with clear, measurable outcomes.”

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At AOG 2025, themes such as sovereign-to-sovereign partnerships, energy-transition-linked credit, and co-investment platforms gained momentum. These structures are vital for turning commitments into projects and projects into impact.

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Where Premier Invest Fits In

This is precisely the space where Premier Invest positions itself.

• Premier Investment Partners Limited (PIPL) structures long-term investments, bridging African governments, DFIs, and global investors. In Angola, this structuring is critical to align sovereign partnerships with private sector ambition.
• Premier Trading Services FZCO (PTS) supports liquidity and commodity flows, helping ensure that Angola’s hydrocarbons and future energy exports reach global markets efficiently.
• Premier Bank (PB) (undergoing regulatory approval) is developing digital wholesale banking to ease cross-border trade finance, payments, and risk management, critical for an economy seeking to diversify its revenue base.

As Rene explains:

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“Angola is a proving ground. If we can demonstrate how capital can be structured to drive both growth and sustainability here, the model can be replicated across Africa.”

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A Future of Shared Value

The AOG 2025 conference showed that Angola’s energy story is evolving—no longer only about extraction, but about integration of global capital with local opportunity, of hydrocarbons with renewables, and of economic ambition with community wellbeing.

For Premier Invest, the event reaffirmed a core truth: Africa’s growth trajectory will be shaped not just by the scale of investment, but by the quality of financial structures behind it.

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As René concludes:

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“When vision meets determination, Angola’s future looks promising. At Premier Invest, our role is to ensure the capital powering that future is sustainable, strategic, and inclusive.”