Etu Energias gets funds for offshore Cabinda Block farm-ins

Offshore staff

LUANDA, Angola — Africa Finance Corp. has invested $60 million in privately owned Angolan oil company Etu Energias (ex-Somoil).

The investment is part of a $190 million debt facility to help the company acquire deepwater oil and gas interests from TotalEnergies and Inpex.

Following completion, Etu Energias will own 20% of Block 14 and 10% of Block 14K, 100 km from Cabinda, northern Angola. Chevron operates both blocks.

The acquisition will double Etu Energias' production to aout 19,000 bbl/d.

11.29.2023