Oil and gas companies Corcel and Sintana Energy have partnered as Champion Sponsors of the Angola Oil & Gas (AOG) 2025 conference. The event, which takes place from September 3-4 in Luanda, represents the country's main oil and gas sector meeting platform. The sponsorship comes at a time when Corcel and Sintana Energy are working to unlock onshore development opportunities in Angola's Kwanza basin, and is expected to support new deals and collaborations as the country strives to revitalize onshore production.
Sintana Energy entered the Angolan market in May 2025 by establishing a strategic partnership with Corcel. The partners signed an agreement through which Sintana acquired an indirect net 5% stake in Block KON 16, in the onshore Kwanza basin. The acquisition resulted from Sintana securing a 5.88% stake in a newly formed Special Purpose Vehicle – which now holds Corcel's 85% stake in KON 16. With completion expected in the third quarter of 2025, the $2.5 million transaction will finance future exploration activities in the block, underlining the value of partnerships in financing exploration and production in Angola.
AOG is the largest oil and gas event in Angola. Held with the full support of the Ministry of Mineral Resources, Oil and Gas; the National Agency for Petroleum, Gas and Biofuels; the Petroleum Products Regulatory Institute; the national oil company Sonangol; and the African Energy Chamber; the event is a platform for signing agreements and advancing Angola's oil and gas industry. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com .
Block KON 16 is considered a highly prospective asset with proven petroleum systems in post-salt and pre-salt intervals. To explore this potential, the partners signed a joint study and bidding agreement to evaluate exploration and production opportunities. Additionally, Corcel raised £1.1 million through a share placement to support ongoing exploration efforts. The funds will be used to execute a 2D seismic program in KON 16 in the third quarter of 2025. Purpose Global Resource Fund led the placement and joined Corcel as a new institutional shareholder. Beyond Block KON 16, Corcel also has non-operated stakes in Blocks KON 11 and KON 12. These brownfield development opportunities have historically produced oil through the Tobias and Galinda fields – with peak production of 17,500 barrels per day (bpd) and 2,700 bpd, respectively. In 2025, Corcel restarted workover activities on wells Tobias-13 and Tobias-14 in Block KON 11, targeting pre-salt and post-salt fields. Data was also collected for Block KON 12.
Corcel and Sintana Energy's sponsorship of AOG 2025 aligns with these efforts and is expected to create new avenues for collaboration and sector engagement. The partners have demonstrated their willingness to establish partnerships to unlock Angolan onshore production, as well as their commitment to exploring potential exploration and production prospects. For Sintana Energy, Angola offers a strategic investment opportunity through which the company can leverage its experience in neighboring Namibia to achieve commercial discoveries. Sintana Energy currently has stakes in several promising onshore and offshore licenses in Namibia, including offshore PEL 79 – which contains the Mopane discoveries – PEL 82, PEL 83, PEL 87 and PEL 90. Onshore, the company has stakes in PEL 103 in the Waterberg basin.