Red Sky Energy, an Australian oil and gas company, has secured a 35% interest in the Sonangol-operated Block 6/24, located offshore Angola in the Kwanza Basin.
This acquisition follows the signing of a risk service contract (RSC) with the Angolan National Agency for Oil, Gas, and Biofuels (ANPG).
Sonangol E&P, the block’s operator, retains a 50% interest, while Red Sky Energy holds 35%, and ACREP controls the remaining 15%.
Block 6/24 lies approximately 12 kilometers off the Angolan coast in water depths of 70 to 80 meters. The area is covered by 1,531 km² of 2D seismic data and 1,465 km² of 3D seismic data.
During the negotiation process, Red Sky Energy accessed a data room provided by ANPG, allowing the company to evaluate materials and assess the block’s potential. Based on its review, Red Sky estimates significant prospects for oil discoveries in Block 6/24.
The block also contains the Cegonha oil discovery, which is currently under further study to determine its commercial viability.
Andrew Knox, Managing Director of Red Sky Energy, highlighted the significance of this acquisition:
“Over the past few years, Red Sky has been evaluating opportunities to acquire producing or near-production assets. The signing of the RSC for Block 6/24 marks our first entry into Angola and is a transformational milestone for Red Sky.”
He emphasized the block’s potential for early production and cash flow generation, adding that the JV partners plan to evaluate the block’s substantial resources further, supported by existing 2D and 3D seismic data.
Knox also revealed that multiple parties have expressed interest in financing 100% of the project development.
The addition of Block 6/24 strengthens Red Sky Energy’s portfolio, complementing its Innamincka gas and Killanoola oil projects in South Australia.
The acquisition aligns with the company’s strategy of pursuing assets amid the global energy sector’s transition away from fossil fuels.
This latest move positions Red Sky as a key player in Angola’s oil sector while advancing its broader ambitions for growth and diversification.
