Nigerian powerhouse Walcot Group has officially secured a production-sharing deal with Angola’s ANPG for three lucrative onshore oil blocks.
In a high-stakes move formalized on April 7, Walcot gained full operatorship of Blocks CON 3 and CON 7 in the oil-rich Lower Congo Basin, boasting a combined resource potential of over 2 billion barrels. The company also acquired a 10% interest in Block KON 13, operated by Nigerian energy titan Oando Energy Resources.
This achievement follows Walcot’s strategic January 2025 proposals for five Kwanza Basin blocks, with the final selection reflecting the group’s robust financial and technical strength.
The move marks a major milestone for Nigerian firms expanding their footprint in Angola’s growing oil landscape.
Source: Energy Capital and Power
