Can you introduce Montego Energy?

Montego Energy (Montego) started in 2011, primarily focusing on energy solutions in sub-Saharan Africa. Initially, we specialized in well servicing and later expanded into EPC. Currently, our focus lies in engineering, designing, building, operating, and maintaining energy facilities across West and sub-Saharan Africa, with plans to own these infrastructures.

What are Montego's opportunities and expansion plans across Africa?

For Africa’s western coast, the markets that are interesting include Ivory Coast and Senegal with new gas developments. We are also seeing interesting opportunities in Namibia as well. 

What are the main challenges currently faced by companies like Montego in Nigeria?

The main challenges facing indigenous companies in Nigeria revolve around investment and deal flow. Investment is crucial, and the lack of prompt approval for certain investments significantly affects deal flow. This unpredictability makes it difficult for service providers to forecast and invest in R&D and their assets. Additionally, currency fluctuations and economic volatility in Nigeria further complicate the situation. The market's current state, with limited growth and fewer development opportunities, exacerbates these challenges. Competition is fierce, and the market is not growing much, which limits exploration and development opportunities. The contracting process is also lengthy and requires patience. 

Do you expect recent policy changes to reverse declining investments in Nigeria's energy sector?

Competing globally, particularly against renewables for funding, poses a significant challenge. Securing investment to increase production amidst varying tax and production regimes further complicates Nigeria's competitiveness. While I cannot predict the future, I remain cautiously optimistic about gradual improvements rather than quick fixes. 

What ESG initiatives is Montego implementing?

We have focused on initiatives like investing in STEM education and other community programs. We are committed to sustainable development by developing and investing in renewable energy projects such as solar. We implement efficient resource management practices to minimize waste and reduce our environmental footprint. Partnering with local communities allows us to understand their needs and concerns, ensuring our projects provide tangible benefits. We foster a safe and inclusive work environment that promotes diversity and equal opportunity, adhering to the highest health and safety standards to protect our employees, contractors, and local communities. Our strong ethical framework and governance structure ensure transparency, accountability, and integrity in all our operations.

What are Montego's next steps and priorities? 

Our next steps involve expanding our operational footprint across Africa, focusing on infrastructure ownership as a sustainable model. We aim to enhance our project capabilities and contribute significantly to the energy sector's development in the region.