The British company Afentra plc announced that the Angolan government has approved a risk service contract for offshore block 3/24, which covers an area of about 545 square kilometers.
A presidential decree validating the contract marks a point in putting the project into motion. Under the terms of the agreement, Afentra will hold a 40% interest and serve as the operator, while Maurel & Prom Angola will also hold 40%, and Sonangol, the state-owned company, will take the remaining 20%.
This approval gives Afentra and its partners the go-ahead to begin initial preparations for developing the block. The resources in this area are estimated at around 130 million barrels of oil and 400 billion cubic feet of natural gas.
According to Afentra, five oil discoveries have already been made within the block—Palanca North East, Quissama, Goulongo, Cefo, and Kuma. Some of these discoveries, such as Palanca Northeast, have already undergone testing, with production reaching up to 6,000 barrels per day.
The deal fits within Angola’s policy framework that supports risk service contracts, a model that allows the state to maintain ownership of its natural resources while inviting private companies to invest and manage operations.
Afentra described the government’s approval as a key regulatory step confirming its entry into the block’s operations. This move follows the company’s earlier acquisition of interests in blocks 3/05 and 3/05A, which was announced by Ecofin Agency in July 2022.
In the coming months, Afentra plans to focus on analyzing historical exploration data, rehabilitating old wells, and drafting a phased development plan for the block. The company has not yet provided a production timeline.
At the same time, other international oil companies are also stepping up their presence in Angola. In September 2025, Chevron signed a preliminary risk service contract for offshore block 33/24, reflecting the growing interest in this model among global operators.
source: www.ecofinagency.com
African Energy Council