Business Enquirer Issue 123 | Olive Energy | March 2024

ENRICHING AFRICA’S ENERGY SECTOR

ENRICHING AFRICA’S ENERGY SECTOR

OLIVE ENERGY

PROJECT DIRECTED BY: JAMIE WAITE

ARTICLE WRITTEN BY: LAURA WATLING

Based in the Republic of Congo, Olive Energy provides integrated oilfield services, utilising niche technologies and expertise adapted to suit the complex and challenging environment of the region.

The business is led by CEO and Founder, Dr Ahmed Ouenes, who instills an innovative approach to the business, having previously established multiple software start-ups specialised in the development of new reservoir modeling technologies.

Leading by Example

Ensuring it is able to seize opportunities across Africa, Olive Energy boasts its own drilling equipment, high pressure pumping fleet for hydraulic fracturing, and all the production equipment required to turn opportunities into production that will be processed by micro refineries.

“We enable the much needed provision of refined products to local African markets,” shared Ahmed when speaking with Business Enquirer, “we are also fortunate and grateful to have unconventional financial partners dedicated to Africa development, which provide the necessary means to execute integrated projects that help throughout the whole lifecycle from exploration all the way to selling refined products” he continued.

As Africa shifts further towards the use of gas, Olive Energy is currently working on new integrated technologies and processes that allow the exploration, production, transport, and processing of gas resources for Africa’s needs at a lower cost.

“Africa gas development needs small scale modular robust technologies that allow

incremental gains,” said Ahmed, “A good example of such technologies includes the revalorization and monetisation of flared gas which is one of our priorities”.

With this in mind, Olive Energy uses the Scrum Field Development approach, which it has implemented in all of its African projects. Much like in its software development efforts, with this approach large gas projects are divided into small sprints, where tangible results that benefit the people are achieved every six months.

Olive Energy’s business model in Africa is to partner with national oil companies, such as the SNPC, by providing turnkey solutions to develop their resources or to partner with them in developing new ones.

“The experience with the SNPC and our five wells turn-key project in the giant unconventional MKB field has successfully demonstrated that this business model could create a win-win partnership that benefits all stakeholders,” shared Ahmed, “this partnership enables us to bring advanced US technologies and unconventional financial resources to Africa, supporting the continent’s economic development”.

By Africans, For Africans

Forming the backbone of Olive Energy’s vision is a motivation to contribute significantly to the socio-economic development of Africa.

Olive Energy’s ESG strategy focuses on providing clean water, healthcare to women and children, and micro-grants to allow women and young entrepreneurs to start business to sustain their families and create jobs.

Since its employment, the strategy is proving successful, having already seen a significant impact, particularly on women, as well as unemployed young people who are now thriving in new businesses.

“Not only did we help launch these businesses, we continue to offer our support to them, to build a valuable economic ecosystem,” shared Ahmed.

A business described as being ‘By Africans, For Africans’, Olive Energy commits to truly allow the transition from the reliance on foreign aid to developing the African skills and the businesses needed to develop the continent.

“This can only be achieved by a new generation of young Africans rising to the occasion. This new generation needs mentoring and hands-on practice and knowledge-sharing to facilitate this generational transformation” Ahmed added.

In the oil and gas sector, Ahmed believes that Africans around the world can continue to make a major impact on this initiative, by sharing their personal experience with the new generation that are “hungry for knowledge and work”.

Evolution, not a Revolution

“Humanity has been continuously living through the energy transition. Humans transitioned from wood to coal during the industrial revolution, then they transitioned from coal to petroleum in the early 20th century and today we are slowly transitioning to other forms of energy while still using coal to produce more than 30% of the electricity in most of the developing countries. So, in energy use, it is an evolution not a revolution,” stated Ahmed.

Olive Energy is participating in this evolution by focusing on the use of natural gas to support the people of Africa. It is also pursuing the use of geothermal energy in East Africa to produce electricity.

By leveraging its drilling and hydraulic fracturing equipment and experience, Olive Energy is vetting multiple geothermal projects to pursue in the near future.

“This is the continent with the lowest life expectancy, and where more than half of households are without electricity,

OLIVE ENERGY

forcing people to use desperate means such as cutting down trees to cook their meals. Through our environmentally responsible oil and gas activities, we create opportunities to lift families from poverty by giving them the means and the knowhow to become self-reliant,” explained Ahmed.

As well as its focus on developing sustainability in both its business and in Africa, Olive Energy is also seeking to accelerate the development of its assets in the Republic of Congo whilst expanding its operations in other African countries.

“We believe that 2024-2025 are going to be prosperous years for the Africa energy market where many projects could materialise and will start realising value for stakeholders,” shared Ahmed, however, this high potential growth could be slowed down by the lack of capital, supply chain delays and availability of oilfield services. The energy market in Africa needs to reinvent itself in order to achieve the continent’s socio-economic goals”.

www.olive-energy.com