The South African National Petroleum Company (SANPC) has entered into the second stage in its establishment process as it progresses toward becoming fully operational, according to Nazeem Braaf, Executive in the Office of the CEO of SANPC.

Speaking during a fireside chat at the G20 Africa Energy Investment Forum, organized by the African Energy Chamber, Braaf said SANPC aims to reach its operational phase between 2026 and 2027.

“The formation phase is complete, with the project team going live in May 2025. We now have several assets under our management, and we are optimizing them. We have transferred 400 employees, and our focus is on generating short-term value while managing the transition effectively,” he noted.

Outlining SANPC’s priorities, he stated that the company seeks to increase the oil and gas sector’s contribution to South Africa’s GDP from the current 1% to 4% in the short to medium term.

“Our mandate goes beyond energy security. We see ourselves as a catalyst for national economic growth. With unemployment around 30%, skills development, economic inclusion and job creation are central to our mission,” he noted.

Braaf added that SANPC is prioritizing technology adoption to secure South Africa’s energy future while ensuring environmental sustainability, particularly as 600 million Africans still face energy poverty and demand is expected to grow as the population approaches two billion by 2050.

“We are engaging with universities across South Africa to enhance technology and skills development because we cannot afford to fall behind. Supporting local enterprise will be key as we lay the foundation for long-term growth,” he said.

SANPC is also drawing lessons from Trinidad and Tobago and Guyana’s use of investor-friendly oil and gas policies to expedite development and projects such as the Morocco – Nigeria Gas Pipeline to attract investment and position South Africa as a regional energy hub.