Luanda, Sept. 3, 2025 (Lusa) - Afrenta, the London-listed oil company, has strengthened its position in the Angolan market this year, achieving an average production of 21,000 barrels of crude oil per day in Block 3/05 in the first half of the year, the company announced on Wednesday.
According to a statement from Afrenta, the independent British oil exploration and production company has this year become "one of the main international partners of Sonangol", the national oil company.
"In the first half of this year alone, Block 3/05 - where the company holds a significant stake - recorded an average gross production of more than 21,000 barrels of crude per day, confirming the rehabilitation potential of mature assets when managed in partnership and with continuous investment," the document states.
In 2024, Afentra, in close collaboration with Trafigura, completed the acquisition for $100 million (€84.8 million) of 12% and 16% non-operating stakes in Blocks 3/05 and 3/05A offshore, respectively, from Azule Energy.
The company, created in 2021 by former Tullow executives, chose Angola as its priority market, "attracted by the maturity of the industry, the presence of major international companies and the availability of half-life assets, which more agile independents can optimise".
According to the oil company, since 2021, it has been consolidating a diversified portfolio that includes not only Blocks 3/05 and 3/05A, but also three onshore licences (KON4, KON15 and KON19) and one offshore licence (Block 23), all in the Kwanza Basin.
One of the most important projects underway, the company pointed out, is KON4, whose ratification is pending, which includes the Quenguela Norte field, the largest onshore discovery in the Kwanza Basin to date, with an estimated potential of more than 200 million barrels of oil, "constituting a long-term opportunity to relaunch production onshore, an area underexplored for decades".
"Afentra's bet comes at a time when the Angolan government and the National Petroleum, Gas and Biofuels Agency (ANPG) have been introducing reforms to stimulate reinvestment in mature assets and attract new operators," the statement said.
With Incremental Production, an initiative launched by the Angolan government in 2024 to boost national production, there are already "visible results" and, along with the rehabilitation of marginal fields, the national oil industry is also seeing a return to exploratory activity, both in the deep offshore and in the Kwanza Basin, Afrenta added.
"Our portfolio (...) is proof of our long-term commitment to the country. Working alongside Sonangol and other Angolan companies is essential if we are to achieve our common goal of maintaining production above one million barrels/day after 2027," said Afentra's executive director, Paul McDade.
NME/ADB // ADB.
Lusa
