The Angolan government has granted Afentra the KON-15 onshore oil and gas license through a presidential decree issued on 24 February.
Afentra views the KON-15 license in the Kwanza Basin as a strategic step in strengthening its presence in Angola.
The company was previously selected as the preferred non-operating bidder for KON-15 and KON-19, with the KON-19 agreement finalized in July.
Under the terms of the award, Afentra will hold a 45% non-operating interest in KON-15, while Sonangol will serve as the operator.
The formal contract signing is expected at a later stage.
CEO Paul McDade confirmed the approval of the KON-15 license by presidential decree.
Afentra remains committed to Angola’s energy sector and to fostering strong partnerships with local operators.
The company will collaborate with Sonangol and relevant authorities to evaluate the full potential of KON-15, KON-19, and the broader Kwanza Basin.
McDade highlighted that, despite limited activity in the basin for over 40 years, it presents substantial growth opportunities for Afentra.
The company will provide further market updates as developments progress.
Source;sharecast.com
African Energy Council