London-based oil and gas player Energean has taken the first step in its strategy to expand its operations into West Africa by acquiring stakes in two blocks off the coast of Angola from the U.S.-headquartered energy giant Chevron.
Energean has agreed to acquire Chevron’s interests in two offshore oil blocks in Angola for a base consideration of USD 260 million, the company said on Thursday.
Energean plc has reported production of 156,000 barrels of oil equivalent per day (boepd), a 31 percent increase year over year, for the nine-month period ended September 30.