Angolan energy champion aggressively expands portfolio while embracing renewable future
Angolan private energy firm Etu Energias has unveiled a breathtaking expansion strategy aimed at catapulting its oil and gas production from a modest 4,000 barrels per day in 2020 to an impressive 80,000 bpd by 2030—a remarkable twentyfold increase.
Building on stellar performance in 2024, the company has more than doubled its asset portfolio from 6 to 15 blocks, driving oil reserves to 106 million barrels with ambitious plans to reach 387 million barrels by decade’s end.
Now operating seven blocks with combined production potential of 50,000 bpd, Etu Energias is further strengthening its position by increasing stakes in key assets, including Block 2/05 (from 30% to 36%), Block 14 (from 20% to 29%), Block 14K (from 10% to 14.5%), and Block 17/06 (from 5% to 7.5%).
The company’s aggressive 2025 development roadmap rests on five strategic pillars: operational excellence, sustainable growth, robust financing, workforce development, and ESG priorities. This framework will support an intensive campaign of eight exploration projects, ten development initiatives, and seven redevelopment efforts.
On the exploration front, Etu Energias continues its 3D seismic campaign in Block FS/FST, with preparations such as deforestation and demining scheduled for May 2025 and drilling of the first exploration well—Chimacuanga—expected this year. Feasibility studies are advancing in new Blocks CON 1 and CON 4, with seismic surveys planned, while Block 2/05 will see exploration studies concluded and drilling planned for 2025-2026.
Beyond upstream operations, the company is diversifying aggressively into downstream infrastructure, launching a new lubricant line in March 2024 with production facilities expected to break ground in 2025. In a forward-looking move that positions Etu Energias as a balanced energy provider, the firm is also entering the renewable space with plans for solar farms and hydroelectric power.
Source: Energy Capital and Power
