UK’s Afentra Secures Strategic Angolan Offshore Block
UK-headquartered and AIM-listed upstream oil and gas company Afentra has taken significant steps to secure its first offshore operatorship by expanding its portfolio with Block 3/24, adjacent to its existing assets off the coast of Angola.
The company announced signing heads of terms with Angola’s National Agency of Petroleum, Gas and Biofuels (ANPG) for a risk service contract related to Block 3/24, which sits adjacent to blocks 3/05 and 5A that are part of Afentra’s existing Angolan portfolio. The formal award of the license is expected in the coming months following completion of the government approval process.
Block 3/24’s proximity to Block 3/05 offers compelling short-cycle, low-cost development potential alongside further exploration opportunities. The block contains five oil and gas discoveries in shallow water: Palanca North East, Quissama, Goulongo, Cefo, and Kuma, all located in the same Pinda reservoir as existing oil fields in blocks 3/05 and 3/05A.
The discoveries have impressive production histories. Palanca North East was discovered in 1988 and tested at 6,000 bpd (38 API), while Goulongo followed the same year and was tested at a constrained rate of 2,400 bpd (23 API). Quissama, discovered in 1987 but not appraised until 1992, tested at around 3,000 bpd (36 API). Kuma tested at 1,800 bpd (32 API), and Cefo at 1,150 bcpd and 32 mmcfd (48 API condensate with high H₂S content).
The block also contains the previously developed Canuku field cluster, developed by Sonangol, which has produced up to 12,000 bpd. Covering 545 square kilometers, Block 3/24 is estimated to include over 130 mmbbls of STOIIP and 400 bcf GIIP of already discovered resource.
Afentra will serve as license operator with a 40% interest, partnering with Maurel & Prom Angola (40%) and Sonangol E&P (20%). The expansion increases the firm’s gross offshore acreage position from 265 square kilometers to 810 square kilometers.
CEO Paul McDade expressed enthusiasm about the development: “We are pleased to announce this heads of terms and excited to progress towards operatorship of Block 3/24, which represents the next step in our strategy to build a material production business in Angola. We look forward to reviewing the most efficient development options for the numerous discoveries, utilizing the extensive Block 3/05 infrastructure.”
Sources: offshore-energy.biz, energy-pedia.com
