ReconAfrica has signed a Memorandum of Understanding (MOU) with Angola’s National Oil, Gas and Biofuels Agency (ANPG) to jointly explore the Etosha-Okavango Basin in southeastern Angola.
The agreement marks a significant expansion of ReconAfrica’s exploration footprint in the Damara Fold Belt and Rift Basin, adding 5.2 million acres in Angola to its existing 6.3 million acres in Namibia.
This low-cost entry into Angola’s onshore sector comes with minimal work obligations and aligns with the company’s strategic goal of securing early access to high-potential hydrocarbon basins.
Brian Reinsborough, President and CEO of ReconAfrica, highlighted that recent technical results from the Naingopo exploration well in Namibia have boosted confidence in the region’s oil and gas prospects.
He emphasized that geological models suggest the Damara Fold Belt—which hosts some of the world’s largest oil fields—likely extends across the Angola-Namibia border.
“We are excited about the opportunity to work with ANPG, especially at a time when Angola’s regulatory reforms are making the country more attractive for upstream investment,” Reinsborough said. He also noted ReconAfrica’s intention to collaborate closely with Sonangol, Angola’s state-owned oil company, as exploration progresses.
Under the MOU, ReconAfrica holds an 80% working interest, while Sonangol retains 20%. ReconAfrica also maintains exclusive rights over the area for the MOU’s duration.
Over the next 24 months, the company will lead a series of exploration activities, including:
- Geological and geophysical studies
- Regional hydrocarbon seep investigations
- Planning and execution of a 2D seismic survey
- Geochemical analysis of any seeps found
The company reaffirmed its commitment to environmental, social, and governance (ESG) principles and plans to launch local employment and community development initiatives in the Okavango region.
This agreement underscores ReconAfrica’s long-term vision of becoming a leading operator in one of Africa’s most promising frontier oil plays.
