Etu Energias signed an agreement with Azule Energy to acquire additional interests in Blocks 14 and 14K offshore Angola.
The agreement grants Etu Energias a 20% stake in Block 14 and a 10% stake in Block 14K, both located in the Lower Congo Basin, with completion expected in the second half of 2026 pending regulatory approvals and standard closing conditions.
Block 14 spans about 4,094 square kilometers and lies roughly 100 kilometers offshore Cabinda. The block already has established infrastructure and steady production, with the acquired share contributing about 10,000 barrels of oil per day in 2024.
Block 14K operates as a cross-border asset and produces around 2,000 barrels of oil per day from the Lianzi oilfield, which connects to processing facilities on Block 14.
Etu Energias CEO Edson R. dos Santos said the acquisition supports the company’s strategy of investing in producing assets that generate strong cash flow and offer growth potential. He added that increasing the stake in Block 14 strengthens production capacity, improves revenue stability, and reinforces the company’s role as an independent offshore operator in Angola.
The transaction follows Energean’s acquisition earlier in March of Chevron’s 31% operated interest in Block 14 and its 15.5% non-operated interest in Block 14K.
Etu Energias initially entered Block 14 by acquiring a 20% stake in AB14BV, a joint venture between TotalEnergies and INPEX, and later increased its position in 2024 by purchasing an additional 9% interest from Galp.
Etu Energias remains the largest privately owned oil and gas company in Angola, operating several onshore and offshore assets across the country. The company operates onshore Blocks FS, FST, CON-1, CON-2, CON-4, CON-6, and CON-8, as well as offshore Block 2/05, and holds non-operating interests in offshore Blocks 3/05, 3/05-A, 4/05, 14, 14K, 14/23, 17/06, and 32.
source: theenergyyear.com
African Energy Council