Etu Energias’ upward trajectory
July 25, 2023
Angola 
With more than 20 years of experience in the market, Etu Energias is the largest private Angolan integrated energy company. Etu Energias is investing in offshore and onshore oil and gas, downstream, and solar energy projects.
In the past two years, Etu Energias (formerly Somoil) more than doubled its operated production from 9,987 bopd in 2021 to 23,013 bopd in 2023. Etu Energias’ vision for 2030 is to become an international player in mature fields and deepwater operations by reaching a production level of 80,000 bopd and by being the driving force behind Angola’s energy transition.
Incorporation
2004
- Start of fuel distribution
- Signing of the Access Protocol to the Kwanza Basin Seismic Data
2005
Acquisition of interest in non-operated blocks
2007
- Transition process for FS/FST operation
- Pre-qualification as an operating company
2009
Effective start as operator in FS/FST Associations
2013
Approval of tax incentives to Angolan companies
2015
- Somoil as Block 2/05 operator (Decree 266/15)
- Acquisition of 16.33% of Chevron (FST Association)
- FS/FST – concession extension +20 years
2016
- Moving to the new headquarters building
- Beginning of organisational structure
- Optimisation process
2020
- Appointment of new executive board
- Launched cost reduction project “Emagrece”
- New vision: transition to an energy company
2021
- Recovery post-Covid-19
- Best-ever safety and financial performance
- New corporate identity (Etu Energias)
- Gas stations
- Expansion strategy
- Renewable energies
2023
- New corporate identity (Etu Energias)
- Gas stations
- Expansion strategy
- Renewable energies
Read our latest insights on:
-
-
Quality acquisitions over acreage
INTERVIEW -
More content from Angola
Latest news and features
Latest Reports
The Energy Year Oman 2026
The Energy Year Kuwait 2025
The Energy Year Angola 2025
The Energy Year Nigeria 2025
The Energy Year Saudi Arabia 2025
The Energy Year UAE 2025
