Sintana Energy Inc. has secured a new exploration opportunity in Angola through a strategic agreement that strengthens its position in West Africa’s energy sector.
The agreement grants Sintana an indirect 5% interest in the KON-16 onshore block in Angola’s Kwanza Basin through a partnership with UK-based Corcel Plc.
The collaboration also opens the door for both companies to pursue additional ventures across the region.
As part of the deal, Sintana will invest $2.5 million—beginning with a $500,000 deposit—to support exploration activities led by Corcel. The transaction is expected to close in the third quarter of 2025.
Sintana CEO Robert Bose described the partnership as aligned with the company’s strategy of working alongside strong operators while pursuing high-return, low-risk opportunities.
He noted that the acquisition of a stake in KON-16 represents a meaningful step in expanding Sintana’s footprint along West Africa’s hydrocarbon-rich margin.
Under the terms of the agreement, Sintana’s 5% interest is held via a 5.88% equity stake in a special purpose vehicle.
The company will also earn a 2.5% net profit interest on Corcel’s share of the KON-16 block—capped at $50 million, and reduced to 1.5% thereafter.
Meanwhile, Corcel continues to build its presence in Angola’s energy sector, with KON-16 marking a key milestone in its broader strategy to unlock the potential of the Kwanza Basin.
