Australian oil and gas company Red Sky Energy is expanding its footprint in Angola following its acquisition of a 35% stake in Block 6/24 in January 2025. This move marks the company’s entry into the African market, with ambitions to further grow its asset portfolio by focusing on existing and producing fields.
Andrew Knox, CEO of Red Sky Energy, highlighted the company’s long-term strategy, stating, “We are targeting proven assets with significant potential. Angola presents a wealth of opportunities, with a supportive government facilitating investment in its oil sector.”
To advance the development of Block 6/24, Red Sky Energy and its partners, Sonangol and ACREP, are reprocessing seismic data to refine their resource development strategy. The block spans 4,930 km² in the shallow waters of the Kwanza Basin and contains the Cegonha discovery, which dates back to the late 1980s. With an estimated potential of 150 million barrels, the project holds strong commercial viability.
Knox elaborated on the company’s operational focus, stating, “There is approximately 3,000 km² of seismic data available, and we are evaluating various development options, including re-entering an existing well or sidetracking to optimize recovery. Our goal is to expedite the drilling process rather than waiting three years for a decision.”
Red Sky Energy’s expansion aligns with a broader wave of investment in Angola’s oil sector. Recent entrants include Nigerian multinational Oando PLC, oil and gas firm Effimax, and energy giant Shell, which is evaluating six deepwater blocks. Other firms, including Corcel, Maurel & Prom, and Indonesia’s Pertamina, are also exploring offshore opportunities, while Namibia’s Namcor has acquired a stake in Block 15/06.
The upcoming Angola Oil & Gas (AOG) conference, scheduled for September 3-4, 2025, serves as a critical platform for fostering collaboration and investment. Organized with the support of the Ministry of Mineral Resources, Petroleum and Gas, the National Oil, Gas & Biofuels Agency (ANPG), and Sonangol, the event has historically played a pivotal role in facilitating market entry for foreign investors.
Reflecting on the significance of AOG, Knox remarked, “Our participation at AOG was instrumental in connecting with key stakeholders and gaining a comprehensive understanding of Angola’s energy landscape. The event is a valuable networking and business development forum.”
Similarly, Afentra CEO Paul McDade praised the event’s impact, stating, “AOG has greatly supported Afentra’s investment strategy, enabling engagement with industry leaders and government representatives to align our growth plans with Angola’s evolving energy sector.”
