Afentra plc has been officially awarded the onshore Angola license KON 19 by Presidential Decree, which was signed with the Agência Nacional de Petróleo, Gás e Biocombustíveis (ANPG)
Afentra now holds a 45% non-operated interest in KON 19 alongside two local Angolan companies ACREP and Enagol. While ACREP is the operator with 45% interests, Afentra and Enagol remains the non operators with 45% and 10% interests respectively.
Contract discussions on Block KON 15 are ongoing and continue to make progress.
Significant potential
Spread across 25,000 sq km, the onshore Kwanza basin has remained under-exploited even though its discovery dates back to 1955. Both KON15 and KON19 blocks are high-graded by Afentra as they have good signs of a working petroleum system. The blocks are adjacent to both legacy oil fields that are currently being appraised for potential re-development and existing infrastructure allowing rapid commercialisation.
"We are very pleased to have been formally awarded this new license, which further enhances our strategic position in Angola. The license expands Afentra's footprint in this attractive market and further diversifies our portfolio with a low-cost onshore block with significant potential. We look forward to bringing our technical expertise in support of our local Angolan Operator as we collaborate to define the full potential of this license. We will update the market fully on our onshore strategy and work programme upon completion of the onshore award process," said CEO Paul McDade.
In June, Afentra completed the Azule acquisition offshore Angola with a 12% non-operating interest in Block 3/05, and 16% non-operating interest in Block 3/05A.
Afentra officially becomes part of KON 19 onshore Angola
Contract discussions on Block KON 15 are ongoing. (Image source: Adobe Stock)
