Afentra continues Angolan portfolio expansion
The UK independent sees Block 3/05 as key to its growth ambitions in Angola’s maturing upstream
London-listed Afentra has its sights set firmly on Angola’s upstream. The company is in the process of acquiring interests in Angolan blocks 3/05 and 23 from NOC Sonangol, along with the purchase of further stakes in blocks 3/05 and 3/05A from the Azule joint venture. Afentra CEO Paul McDade spoke to Petroleum Economist about the progress of those deals and also discussed doing business in Angola and other company activities. Afentra had originally hoped to complete the Sonangol deal in Q3 2022. Why was that date subsequently pushed back? McDade: The extension of the licence [out to 2040] was the main condition precedent to completing the Sonangol deal. And while that process took longer th
![](/images/white-fade.png)
Also in this section
26 July 2024
Oil majors play it safe amid unfavourable terms in latest oil and gas licensing bid rounds allowing Chinese low-ball moves
25 July 2024
Despite huge efforts by India’s government to accelerate crude production, India’s dependency shows no sign of easing
24 July 2024
Diesel and jet fuel supplies face a timebomb in just four years, and even gasoline may not be immune
23 July 2024
Rosneft’s Arctic megaproject is happening despite sanctions, a lack of foreign investment and OPEC+ restrictions. But it will take a long time for its colossal potential to be realised