In a strategic move to bolster its presence and investments, ETU Energias SA, formerly known as Somoil – Sociedade Petrolífero Angolana SA, has successfully concluded the acquisition of a 2.5% stake in the Thai company PTTEP, operating in Block 17/06 offshore Angola.
The process, initiated back in December 2022, forms a critical part of ETU Energias SA’s growth strategy. The company signed the purchase and sale contract for this significant participatory interest, withholding the value due to confidentiality clauses within the contractual framework.
The partnership consortium for Block 17/06, situated 150 kilometers off the Angolan coast, has undergone adjustments with this recent acquisition.
The current structure includes Total Energies (30%) as the operator, Sonangol P&P (30%), SSI (27.5%), Etu Energias B17/06 (7.5%), and Falcon Oil (5%).
This transaction underscores ETU Energias SA’s commitment to expanding its portfolio and strengthening its position in the offshore energy landscape, marking a pivotal step in its strategic investment roadmap.
