Africa-Press – Angola. he oil company ETU Energias SA acquired an additional 2.5 percent of the Thai company PTTEP, which operates in Block 17/06 offshore-Angola, making a total of 7.5% of its stake in this business.
According to a press release from the Angolan-based institution, this action is part of the growth strategy, in processes of buying and selling shares, the value of which was not revealed due to contractual confidentiality issues.
The contracting group for the block located 150 kilometers off the Angolan coast is now made up of Total Energies (30%), operator, Sonangol P&P (30%), SSI (27.5%), Etu Energias B17/06 (7.5% ) and Falcon Oil (5%).
The document highlights that Etu Energias SA is the former Sociedade Petrolífero Angolana SA (Somoil).
Etu, which in the Bantu language means ‘We’, is the new name of the oil company Somoil, founded in 2000, having started its activities in 2003 with the distribution of fuels, solar energy activities and consultancy, later, in 2005 and 2007 with acquisitions of shares in non-operated blocks.
Etu Energias is the operator of block 2/05, of the FS-FST and CON-1 Associations, holding participatory interests (as non-operator) in blocks 3/05, 3/05A, 4/05, 14, 17/06 and CON-6.
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