Etu Energias Closes $1 Billion in M&A Deals, Targets 80,000 bpd by 2030
Etu Energias, Angola’s largest private oil company, has finalized nearly $1 billion in merger and acquisition (M&A) transactions over the past three years, underscoring its aggressive growth strategy in the country’s energy sector.
The announcement was made by CEO Edson dos Santos during a live interview at the Angola Oil & Gas 2025 Conference and Exhibition.
“Over the last three years, we have closed close to $1 billion worth of M&A transactions. With the right partners, you can expect more deals ahead for Etu Energias,” dos Santos said, reaffirming the company’s appetite for expansion.
Etu Energias is pursuing an ambitious target of raising production to 80,000 barrels of oil per day (bpd) by 2030. To achieve this, the company is executing a diverse exploration and production strategy that includes eight exploration projects, 10 development projects, and seven redevelopment initiatives across Angola’s oil blocks.
“We want to produce 80,000 bpd within the next five years, and every activity we undertake is designed to achieve this objective,” dos Santos emphasized.
Offshore, Etu Energias commenced drilling activities at Block 2/05 in July 2025. The program includes three development wells, one exploration well, and five technical interventions on existing wells.
Exploration studies for the block are scheduled for completion in 2025, with additional drilling planned for 2025/2026. Onshore, the company is advancing seismic research to identify new exploration and development opportunities.
To fund its next phase of growth, Etu Energias plans to launch an Initial Public Offering (IPO) in 2026. The listing is expected to unlock new capital streams to support the company’s exploration and production strategy. Dos Santos confirmed that the IPO remains firmly on track.
Through a combination of strategic acquisitions, drilling campaigns, and upcoming public listing, Etu Energias is positioning itself as a central player in Angola’s oil and gas future, driving both production growth and long-term investment in the sector.
