Etu Energias has signed an agreement with Azule Energy to acquire additional interests in blocks 14 and 14K offshore Angola, Etu Energias announced on Friday.
The deal gives Etu Energias a 20% interest in Block 14 and a 10% interest in Block 14K, both in the prolific Lower Congo Basin, and is expected to close in the second half of 2026, subject to customary closing conditions and regulatory approvals.
Block 14 covers an area of approximately 4,094 square kilometres and is located about 100 kilometres offshore Cabinda. It has established infrastructure and stable output, with net production attributable to the acquired interest of approximately 10,000 bopd in 2024.
Block 14K is a cross-border asset that is producing around 2,000 bopd from the Lianzi oilfield, which is tied back to Block 14’s processing facilities.
“This transaction is highly aligned with our strategy to grow through disciplined investments in producing assets with strong cash flow profiles and upside potential. Increasing our stake in Block 14 enhances our production base, strengthens our revenue visibility and reinforces ETU Energias’ position as a leading independent player in Angola’s offshore,” said Etu Energias CEO Edson R. dos Santos.
The deal follows the acquisition by Energean of Chevron’s 31% operated interest in Block 14 and 15.5% non-operated interest in Block 14K earlier in March.
Etu Energias first acquired a position in Block 14 through the acquisition of a 20% stake in AB14BV, a joint venture between TotalEnergies and INPEX, which it increased in 2024 with the acquisition of an additional 9% interest from Galp.
Etu Energias is the largest privately owned Angolan oil and gas company, with operations across a portfolio of onshore and offshore blocks in the country. In particular, it operates onshore blocks
FS, FST, CON-1, CON-2, CON-4, CON-6, and CON-8, as well as offshore Block 2/05, and holds non-operating interests in offshore blocks 3/05, 3/05-A, 4/05, 14, 14K, 14/23, 17/06, and 32.