Block 3/24 covers 545 square kilometres and contains five oil and gas discoveries – Cefo, Goulongo, Kuma, Palanca North East and Quissama – as well as the previously developed Canuku field cluster, which has produced up to 12,000 bopd.
Afentra and M&P will each acquire 50% of Etu Energias’ 10% non-operated interest in Block 3/05 and 13.33% non-operated interest in Block 3/05A. The buyers will each pay an initial consideration of USD 23 million, consisting of USD 22 million for Block 3/05 and USD 1 million for Block 3/05A.