Africa-Press – Angola. The Angolan operator Etu Energias concluded, this week, the agreement with the Portuguese oil company Galp, with a view to the indirect acquisition of 5% of the shares in Block 32, 9% in Block 14 and 4.5% in Block 14K, offshore Angolan, reinforcing its presence in these oil fields.
Block 32, located approximately 260 kilometers off the coast of Luanda, is operated by TotalEnergies, with 30%, which leads the contractor group composed of Sonangol (30%), SINOPEC (20%), Exxon Mobil (15%) and then Galp (5%).
Block 14, located in Cabinda, is operated by Cabinda Gulf Oil Company Limited (Chevron), with 31%, Sonangol (20%), Azule Energy (20%) and Etu Energias, through its affiliate AB 14 BV (20 %) and Galp (9%).
Block 14K has as members of the contractor group Chevron Overseas (Congo), with 15.75%, TotalEnergies Congo (26.75%), Cabinda Gulf Oil Company Limited (Chevron) (15.50%), Azule Energy Angola (10%), Sonangol Research and Production (10%), AB 14 (10%), Societé Nationale des Pétrolesdu Congo (07.50%) and Galp 14 (04.50%).
According to a press release this Friday, the agreement signed between Etu Energias and Galp is part of the growth strategy of the National Petroleum, Gas and Biofuels Agency (ANPG).
According to the document, financing for this business was ensured by a consortium led by the African Export-Import Bank (AFREXIMBANK), which included Shell Western Supplyand Trading, Banco Angolano de Investimento (BAI) and Banco de Fomento Angola (BFA ).
This transaction marks the culmination of the purchase and sale agreement reached between both companies, announced on February 10, 2023.
In this regard, the chairman of the Board of Directors of ANPG, Paulino Jerónimo, said that the National Concessionaire welcomes the understanding reached by Etu Energias and Galp, ensuring that it will continue to encourage good business dynamics with all stakeholders in the sector oil in Angola.
Quoted in a note, the manager recognized the close collaboration between the various parties as a fundamental step towards the success of this business.
According to Paulino Jerónimo, the conclusion of this transaction demonstrates the company’s resilience and represents a major step in ANPG’s strategy, which aims to build a profitable and diversified portfolio.
For his part, the chairman of the Board of Directors of Etu Energias, Edson dos Santos, thanked his employees and partners for their support, with emphasis on Galp, ANPG and the Ministry of Mineral Resources, Oil and Gas.
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