Independent oil and gas company Afentra is considering drilling new exploration wells in Angola’s Block 3/05 by 2026 or 2027 to optimize production after a decade without new drilling, according to CFO Anastasia Deulina.
Afentra has already increased production in Angola from 17,000 to 22,000 barrels per day through three acquisitions. The company is now working with Sonangol to upgrade decades-old infrastructure and implement water injection systems in Block 3/05.
Looking beyond Angola, Deulina revealed that Congo tops Afentra’s expansion list. “We are interested in both oil and gas projects in Congo, particularly shallow-water opportunities similar to our Angolan assets, as well as onshore developments,” she said during the CEIF conference.
Deulina highlighted Africa’s attractiveness for investors, noting that debt financing is increasingly accessible while Afentra benefits from strong shareholder support. “In our experience, it’s often easier to attract investors for major developments than for smaller ones,” she added.
Source: energycapitalpower.com
