Afentra plc announced ongoing negotiations to acquire interests in Blocks 3/05 and 3/05A from Etu Energias, but the outcome is not yet guaranteed.
The company plans to fund the acquisition with existing cash reserves, provided it secures regulatory and government approvals.
Collaborating with Sonangol and joint venture partners, Afentra is working on redevelopment plans for these blocks to increase production, expand reserves, and maximize asset value.
Specializing in upstream oil and gas operations, the company targets investment opportunities across Africa.
It supports a responsible energy transition by partnering with divesting IOCs and host governments.
Afentra holds non-operated interests in both offshore and onshore Angolan blocks, with production and development assets in the Lower Congo Basin, exploration stakes in the Kwanza Basin, and a carried interest in the Odewayne Block in Somaliland.
Source:https:tipranks.com
