Sonangol, Afentra and Maurel & Prom Restructure Ownership of Angola’s Block 3/05 and 3/05A Ahead of 2026 Redevelopment Program
Angola’s national oil company, Sonangol, has elected to participate in the acquisition of Etu Energias’ interests in Blocks 3/05 and 3/05A, located in the Lower Congo Basin.
The transaction involves the purchase of Etu’s 10% stake in Block 3/05 and 13.33% stake in Block 3/05A.
By joining independent oil and gas companies Afentra and Maurel & Prom in the deal, Sonangol is reinforcing a collaborative partnership model aimed at supporting the next phase of redevelopment across the mature offshore assets.
The acquisition comes as the partners prepare for a planned 2026–2027 infill drilling and heavy workover program designed to unlock undeveloped resources and restore production from selected wells.
The revised ownership structure is expected to strengthen operational alignment and provide the financial and technical coordination needed to execute the redevelopment strategy.
With the transaction progressing toward completion, the focus now shifts to whether the partnership can translate coordinated investment into sustained production growth.
The latest agreement follows Afentra’s 2025 announcement of its intention to acquire Etu Energias’ stakes in the Lower Congo Basin blocks.
Under the revised transaction terms, Sonangol will assume a 39.34% interest in each block, becoming a significant stakeholder alongside the existing partners.
Afentra’s participation will increase to 33.33% in Block 3/05 and 24.99% in Block 3/05A, while Maurel & Prom’s interest will rise to 23.33% in Block 3/05 and 30.33% in Block 3/05A.
NIS Naftagas will retain its minority stakes of 4% in Block 3/05 and 5.33% in Block 3/05A, maintaining continuity within the partnership structure.
A new Sale and Purchase Agreement has been signed to formalize the revised ownership arrangement.
Completion of the transaction remains subject to customary conditions, including regulatory and government approvals, and is expected in the second quarter of 2026.
The inclusion of Sonangol in the acquisition is widely viewed as a strategic move to strengthen national participation in key producing assets while reinforcing investor confidence in Angola’s upstream sector.
The transaction also precedes a comprehensive redevelopment program targeting production optimization at Blocks 3/05 and 3/05A.
Planned activities include three heavy workover campaigns and the drilling of two infill wells at Block 3/05 in 2026.
In addition, technical teams are currently evaluating more than 20 additional heavy workover opportunities that could further enhance production capacity and extend the operational life of the fields.
These interventions are intended to improve recovery rates from existing wells while maximizing the value of mature infrastructure.
Afentra has identified the proposed infill wells, Impala-2 and Pacassa SW-1, as critical components of the redevelopment strategy.
These wells are expected to unlock additional production potential and expand reserves by targeting previously undeveloped zones within the reservoir system.
The drilling program forms part of a broader, multi-year asset revitalization plan designed to stabilize production levels and position the assets for sustained long-term performance.
Beyond the Lower Congo Basin assets, the transaction aligns with Afentra’s broader portfolio strategy in Angola’s upstream sector.
The company continues to advance several additional projects aimed at expanding its operational footprint across both offshore and onshore acreage.
As operator of Block 2/24, Afentra is targeting a final investment decision in late 2026 or early 2027, while at onshore Block KON 4, the company is currently conducting geophysical surveys to better define the resource potential of the concession.
To support its expanding investment program, Afentra has engaged investment firm Jefferies to work with a select group of financial and strategic investors to explore funding options for future growth.
According to the company, these options may include equity participation, strategic partnerships, or a potential sale of the company, with preliminary discussions already underway with interested parties.
