Serving as the premier investment platform for Angola’s hydrocarbon industry, the Angola Oil & Gas (AOG) conference has not only featured a strong slate of deal-signings among industry leaders but enabled firms to engage in discussions that lay the foundation for future investments. Over the years, the event has facilitated market entry for independent oil and gas firms, while fostering engagement that leads to expansion, acquisitions and greater collaboration in Angola.
Red Sky Energy
Australian exploration and production company Red Sky Energy finalized a Risk Service Contract for Block 6/24 in Angola’s Kwanza Basin in January 2025. The deal followed discussions held during the 2024 edition of AOG and marks the company’s entry into the country. Secured through direct negotiation with the government, the block features partners Sonangol and ACREP and has the benefit of an existing oil discovery: Cegonha.
Speaking to Energy Capital & Power, Red Sky Energy’s CEO Andrew Knox explained that the company has been pursuing opportunities for several years but the AOG conference was pivotal in making the deal happen. He said, “AOG was instrumental for us..it was our first participation at the event and we got to meet everyone.”
Looking ahead, Red Sky Energy will continue seeking non-operated opportunities in Angola. The AOG conference will continue to facilitate engagement — both for Red Sky Energy and other independents seeking new opportunities in Angola’s oil and gas blocks.
Afentra
Upstream oil and gas company Afentra continues to strengthen its presence in Angola following its market entry in 2022. A signed Sales and Purchase Agreement in May 2022 signaled the company’s foray into the Angolan market, with the deal finalized in May 2024.
The transaction comprises non-operated interests in Block 3/05 and 3/OSA offshore Angola. Onshore, the company signed a formal agreement in July 2024 for the KON-19 license. The deal will see Afentra assume a 45% non-operated interest in the block, expanding Afentra’s portfolio in Angola.
Amid this expansion, the AOG conference has served as a strategic platform for Afentra. Participating in the event since 2022, Afentra has not only driven key discussions around Angola’s block opportunities – with the company’s CEO Paul McDade joining as a speaker since 2022 – but leveraged the event to foster greater collaboration and engagement.
Going forward, the company is committed to exploring new opportunities. At AOG 2024, McDade explained that “We see great opportunities to acquire mature assets in Angola, reduce emissions from those assets and further develop them. We aim to work alongside Angolan companies, combining efforts to secure additional assets.”
Etu Energias
Angola’s largest private oil producer, Etu Energias is pursuing growth opportunities in Angola’s upstream market. The company aims to increase production to 50,000 barrels per day (bpd) by 2025 and 100,000 bpd by 2030, seeking new acquisitions that support these goals. Over the years, Etu Energias’ participation at AOG has enabled greater engagement with industry players, allowing the company to showcase its growth strategy and sign deals.
At AOG 2023, the company signed a Technical Services Agreement with SLB for the development of Block 2/5. The deal comprises the development of engineering wells and end-to-end technological complimentary services. Speaking during a Fireside Chat at AOG 2024, Etu Energias’ CEO Edson dos Santos said that “We want to be a great operator. We want to drill wells and expand our portfolio…” AOG will continue to be an important platform in this regard, supporting dialogue and deals for Angola’s independents.
Corcel
Oil and gas independent Corcel entered the Angolan onshore market in 2023 with the acquisition of a 90% interest in Atlas Petroleum Exploration Worldwide (APEX). APEX holds stakes in two historically-producing blocks and one exploration block, onshore Angola. In June 2024, the company secured all the requisite approvals to conduct geological surveying on Block Kon 1, KON 12 and KON 16, targeting near-term production. In September, the company increased its stake in KON 16, underscoring its commitment to Angola’s onshore
market.
Speaking at AOG 2024, Corcel’s CEO Scott Gilbert said that “Onshore prospects in Angola are very exciting. They have been producing oil since the 70s and we have an interest to reactivate them.” The AOG event provided the opportunity for Corcel to engage with Angola’s energy regulator, government and associated energy leaders, aligning with the firm’s growth strategy.
In a post shared on X, Corcel stated that the event “was a fantastic opportunity to connect with industry leaders and discuss the immense potential of our blocks in Angola.”