Afentra signs for its first operated block offshore Angola

LUANDA, September 5, 2025 – Afentra has signed heads of terms with Angola’s National Oil, Gas and Biofuels Agency (ANPG) for the risk service contract for offshore Block 3/24, the company said on Thursday.

Block 3/24 covers 545 square kilometres and contains five oil and gas discoveries – Cefo, Goulongo, Kuma, Palanca North East and Quissama – as well as the previously developed Canuku field cluster, which has produced up to 12,000 bopd.

Afentra will operate the block with a 40% interest, alongside Maurel & Prom Angola (40%) and Sonangol E&P (20%). The initial contract period is five years, with a 25-year production term to follow upon development. The formal award of the blocks is subject to government approval and is expected before the end of 2025.

The block lies approximately 35 kilometres off the coast of Angola and is adjacent to the Sonangol-operated Blocks 3/05 and 3/05A, in which Afentra holds 30% and 21.33% interest, respectively, after it agreed with Maurel & Prom to jointly acquire the interest held by Etu Energias in June 2025. Blocks 3/05 and 3/05A contain mid-life producing fields as well as undeveloped discoveries.

“Block 3/24 represents the next step in our strategy to build a material production business in Angola. We look forward to reviewing the most efficient development options for the numerous discoveries, utilising the extensive Block 3/05 infrastructure. This will provide upside potential to enhance the overall redevelopment plan for the Block 3/05 area, where we expect to significantly increase production and reserves,” said Afentra CEO Paul McDade.

Afentra’s strategy centres on developing low-cost, low-carbon, short-cycle projects by revitalising existing fields and infrastructure. The company’s Angola portfolio also includes a 45% non-operated interest in onshore blocks KON15 and KON19 in the Kwanza Basin. The company’s

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