Acrep

Acrep is an Angolan upstream player with a strategic focus on operating assets in the onshore Cabinda area and developing gas-to-power projects. The company became an operator in 2023 with its acquisition of a majority stake in the onshore Cabinda South block. It cemented this new approach with a successful bid for operatorship of the KON 19 licence, which it won in early 2024. Since August 2024, the company has also operated the Cabinda North block, having acquired a 62% stake from Azule Energy.

Upstream stakes:

• 62% and operatorship of the Cabinda North block
• 55% and operatorship of the Cabinda South block
• 10% in Block 1/14
• 45% in KON 19

Cabinda South plans: Acrep plans to focus on gas production from the asset, then build a 25-MW thermal power plant, marking the establishment of Cabinda’s first independent power producer.

Block 1/14 plans: Acrep aims to gain experience and expertise working alongside partner Azule Energy in the asset, which is currently under exploration.

Cabinda North plans: Acrep will evaluate the Dinge and Nzila discoveries, which hold an estimated 140 million barrels of oil in place.

In the long term, Acrep aims to become the sole onshore operator in Cabinda.