Upstream oil and gas company Afentra has finalized the acquisition of a stake in block KON 19, situated in the Kwanza Basin onshore Angola. A formal agreement was signed this week between the company and Angola’s concessionaire the National Oil, Gas and Biofuels Agency (ANPG).
Under the terms of the license, Afentra will hold a 45% non-operated interest in the KON 19 block, sharing the license with Angolan companies ACREP – which also holds a 45% stake – and Enagol, which holds the remaining 10%. ACREP serves as the operator of the block.
“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,” CEO Paul McDade said
The ANPG agreement follows a Presidential Decree announced on July 10 for the block’s acquisition. In addition to KON 19, Afentra is advancing with contract discussions for block KON 1S.
