Sonangol Bolsters Its Footprint in Angola’s Shallow Water Blocks with Strategic Etu Acquisition

Angola’s national oil company Sonangol has moved to increase its direct stake in two producing offshore blocks, stepping into a pre-existing asset sale and restructuring the transaction to secure a share of the divested interests alongside independent buyers Afentra and Maurel & Prom.

The deal centres on Blocks 3/05 and 3/05A, where Etu Energias had agreed in June 2025 to sell its combined interests representing 10% in Block 3/05 and 13.33% in Block 3/05A to Afentra. During the sale process, Sonangol, which already operates both assets, elected to participate directly in the acquisition. 

Transaction Restructured to Admit Three Buyers

The revised agreement distributes the acquired interests across three parties: Sonangol, Afentra, and France’s Maurel & Prom. Under the new terms, Afentra’s allocations have been reduced to 3.33% in Block 3/05 and 3.66% in Block 3/05A.  The transaction remains subject to regulatory approval from Angolan authorities, and no closing timeline has been announced.

On completion, Sonangol will hold a 39.34% interest in Block 3/05, with Afentra at 33.33%, Maurel & Prom at 23.33%, and NIS Naftagas at 4%. In Block 3/05A, Sonangol will retain 39.34%, Afentra 24.99%, Maurel & Prom 30.33%, and NIS Naftagas 5.33%. Sonangol will continue as operator across both blocks. 

Afentra Maintains Angola Growth Trajectory

Despite the reduction in its allocated share, Afentra’s participation remains consistent with its stated strategy of building a cash-generating portfolio across Africa. Chief Executive Paul McDade described the transaction as an expression of that disciplined approach. 

Afentra has pursued a series of Angola acquisitions in recent years, including a 2022 agreement with Croatia’s INA to acquire additional interests in the same blocks. In October 2025, the company also secured approval to enter offshore Block 3/24, which holds estimated resources of approximately 130 million barrels of oil and 400 billion cubic feet of gas. 

Block 3/24 spans 545 square kilometres and lies in close proximity to Blocks 3/05 and 3/05A, in an area where multiple prior oil discoveries have already been recorded. 

Sonangol’s decision to enter the Etu transaction directly reflects a broader pattern of the state company asserting tighter control over producing assets while Angola works to sustain output above one million barrels per day.

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