The English upstream oil and gas company Afentra, focused on acquiring production and development assets in Africa, has successfully completed the acquisition of a stake in the KON 19 block, located in the Kwanza Basin onshore.
This acquisition follows the announcement on July 10th, confirming the award of the Angola KON 19 onshore license by Presidential Decree, which was signed last weekend with the National Petroleum, Gas and Biofuels Agency (ANPG).
As part of this operation, Afentra has secured a 45% non-operated stake in KON 19, alongside two other Angolan companies, ACREP and Enagol.
The Kwanza Basin, covering an area of 25,000 square kilometers, is known as a proven yet underexplored hydrocarbon platform, featuring numerous oil fields and discoveries dating back to 1955.
Both KON 15 and KON 19 are highly valued by Afentra due to their promising signs of oil presence. These blocks are adjacent to older oil fields that are currently under assessment for development potential, and they benefit from existing infrastructure that facilitates rapid commercialization.
“We are very pleased to have formally received this new license, which further strengthens our strategic position in Angola.
The license expands the company’s presence in this attractive market and diversifies our portfolio with a low-cost onshore block that has significant potential,” said Paul McDande, President of the Executive Committee.
McDande emphasized that the company looks forward to applying its technical expertise to support its local Angolan operator in exploring the full potential of this license.
He added, “We will fully update the market on our onshore strategy and work program following the completion of the onshore award process.”
