Erik Prince, chairman and co-founder of the new energy company Freedom First, is targeting oil and gas opportunities in African nations where security risks have traditionally deterred investment. The Houston-headquartered company, formed last year, aims to help oil and gas companies boost production, efficiency, and explore new financing. While its current focus is largely on Libya, where it has a Tripoli office, Prince also envisages helping to develop an offshore oil and gas industry in Somalia.

Focus on Somalia and a Security Model

Prince highlights Somalia's "super-prospective" offshore blocks, where exploration has been held up by security concerns. He draws parallels to gas-rich Mozambique, which has also faced Islamist insurgencies. Prince cites his past involvement in building the Puntland Marine Police Force (PMPF) between 2009 and 2011 as a successful counter-piracy model. He suggests a similar approach could unlock Somalia's energy potential by establishing a security apparatus and a logistics base to develop the offshore industry. This, he argues, would provide jobs, offering an economic incentive to turn away from radicalism. Freedom First's president, Ryan Manicom, adds that transforming a former al-Shabaab stronghold into a logistics terminal could employ many locals, moving people toward the country's better interests.

Libya's Opportunities and Challenges

Freedom First has a significant focus on Libya, a country with substantial hydrocarbon reserves but ongoing security challenges. Manicom clarifies the company does not intend to act as a traditional exploration and production company seeking concessions. Instead, it aims to help existing operating entities become more efficient and increase production, potentially through mentoring programmes and working alongside national oil company staff. Prince outlines Libya's security obstacles, including militias and the military influence of outside nations such as Russia, Turkey, and the United Arab Emirates. He states Freedom First is in favour of supporting Libya's sovereignty. When asked if his other entities are addressing Libyan security risks, Prince said, "Not currently," but added that asset protection would be ensured for any oilfield development.

Addressing Broader African Instability

Prince argues he could resolve the security threat in Mozambique's Cabo Delgado province, where TotalEnergies and ExxonMobil had LNG projects on hold. He claims the situation could be fixed for a fraction of the projects' total cost by building a proper security apparatus to "extinguish the jihad." He characterises the current presence of Rwandan forces as "largely a Band-Aid." More broadly, Manicom sees potential across "the entire Sahel" region of Africa.

Business Philosophy and Background

Prince emphasizes that Freedom First is an energy company that operates in a broader range of areas without the risk aversion of mid-to-large companies. He compares contracting oilfield services firms to working with private military expertise, stating his company has taken a similar mentality into security management to "de-dramatise" it so oilfield operations can proceed. The company's leadership includes oil and gas industry veterans with experience at firms like Holloman Corporation, Chesapeake Energy, Schlumberger, and Halliburton.

Context from Other Operations and Past Controversy

Prince's work in Haiti with another company, Vectus Global, is cited as an example of being invited by a government to help restore stability after other attempts failed. He suggests the pendulum is swinging away from governments always being seen as the solution, drawing a comparison to private space contractors. Prince's past with Blackwater has attracted controversy, including a 2010 settlement for alleged export violations and the 2007 Baghdad shooting incident for which four former guards were convicted and later pardoned. Prince told an audience it is "a terrible thing" when innocent people are hurt in dangerous places.