Afentra is preparing to begin exploration on its onshore licenses in Angola’s Kwanza Basin. The British company announced that technical assessment work is ongoing on the KON15 and KON19 blocks. It also plans to acquire seismic data on KON15 during the second half of 2026.
The Kwanza Basin is one of Africa’s oldest oil-producing regions, with discoveries dating back to 1955. Despite this history, development has remained limited since the 1990s because of low investment and outdated technology. Afentra holds interests in three onshore blocks: it operates KON4 with a 35% stake, while it owns a 45% non-operated interest in both KON15 and KON19.
Afentra is also advancing technical work on KON4, including a well reactivation study at the Quenguela Norte field, the largest onshore oil field discovered in the Kwanza Basin. The field is estimated to contain more than 200 million barrels of oil reserves. At its peak, it produced 12,000 barrels of oil per day before operations stopped in 1999 after approximately 46 million barrels had been produced.
Speaking after the KON4 license was awarded in May, Chief Executive Officer Paul McDade said the block offers both near-term redevelopment opportunities through the Quenguela Norte field and longer-term exploration potential. He added that favorable fiscal terms and its location close to the Luanda refinery strengthen the project’s outlook.
According to Afentra, no modern exploration technology has been used in the Kwanza Basin for the past 40 years. The KON15 and KON19 blocks lie next to the former Tobias and Galinda oil fields, where the resource potential has not yet been reassessed using modern exploration methods.
Afentra is financing its onshore exploration program with revenue generated from its offshore assets. During the first half of 2026, the company reported revenue of $91 million after selling about one million barrels of oil at an average price of $91.30 per barrel. As of June 30, it held $97.4 million in cash.
Angola remains sub-Saharan Africa’s second-largest oil producer after Nigeria. However, the country’s oil production has declined steadily since 2015, falling from a peak of 1.8 million barrels per day to around one million barrels per day.
source: https:www.ecofinagency.com
African Energy Council