Etu Energias CEO Reveals $1 Billion in M&A, Targets 80,000 bpd by 2030
Edson dos Santos, CEO of Etu Energias, revealed that the company has closed nearly $1 billion in Mergers and Acquisitions (M&A) operations over the last three years, reflecting its strategy to expand its portfolio in Angola. Speaking during an on-stage interview at the AOG 2025 Conference and Exhibition, the executive highlighted that with the right partners, the company will continue to pursue new M&A deals.
“Over the past three years, we have conducted M&A operations close to $1 billion. With the right partners, you can expect more deals of this nature from Etu Energias,” stated Edson dos Santos.
With the goal of increasing oil production to 80,000 barrels per day (bpd) by 2030, Etu Energias is leading an ambitious exploration and production strategy in Angola, reinforcing its position as the country’s largest private oil producer. Currently, the company’s portfolio includes eight exploration projects, ten development projects, and seven field rehabilitation projects.
“We want to reach 80,000 barrels per day in the next five years, and all of the company’s activities are directed towards achieving this goal,” added the CEO.
Offshore, Etu Energias began drilling on Block 2/05 in July 2025, with a program that includes three development wells, one exploration well, and five well intervention operations on existing wells. Further exploration studies on the block are also planned for 2025, with drilling scheduled for 2025/2026. Onshore, the company continues seismic investigations to accelerate exploration and pave the way for new development projects.
To support this strategy, Etu Energias is preparing an Initial Public Offering (IPO) in 2026, which will enable it to raise new capital for its exploration and production projects. During the interview, Edson dos Santos reaffirmed the company’s plan to move forward with the stock market listing.
