Afentra plc has confirmed ongoing negotiations to acquire interests in Blocks 3/05 and 3/05A from Etu Energias, though a final agreement is not yet guaranteed.
The company intends to finance the acquisition using existing cash reserves, pending regulatory and government approvals.
In collaboration with Sonangol and joint venture partners, Afentra is developing a strategic plan to boost production, expand reserves, and maximize asset value in these blocks.
As an upstream oil and gas company, Afentra focuses on investment opportunities across Africa, supporting a responsible energy transition by working with divesting international oil companies (IOCs) and host governments.
Afentra currently holds non-operated interests in both offshore and onshore Angolan blocks, including 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.
