Edson dos Santos, CEO of Etu Energias, shared that the company has closed nearly $1 billion in Merger & Acquisition (M&A) transactions in the last three years, reflecting the company’s drive to expand its portfolio in Angola. Speaking in an on-stage interview during the Angola Oil & Gas 2025 Conference and Exhibition, dos Santos underscored that, with the right partners, the company continues to pursue new M&A deals.
“Over the last three years, we have done close to $1 billion worth in M&A transactions. With the right partners, you can expect more M&A coming up for Etu Energias,” he shared.
With a goal to increase oil production to 80,000 barrels per day (bpd) by 2030, Etu Energias is spearheading an ambitious exploration and production strategy in Angola, leveraging its position as the country’s largest private oil producer to unlock greater value from the country’s resources. Etu Energias’ ongoing projects include eight exploration projects, 10 development projects and seven redevelopment projects.
“We want to produce 80,000 bpd in the next five years and all the company’s activities are [geared towards] achieving this goal,” dos Santos said.
Offshore, the company kickstarted drilling activities at Block 2/05 in July 2025. The work program features three development wells, one exploration well and five technical interventions across existing wells. The company plans to complete exploration studies for the block in 2025, with drilling planned for 2025/2026. Onshore, Etu Energias continues to spearhead seismic research, with a view to advance exploration and unlock new development projects.
To support these activities, Etu Energias also plans to make an Initial Public Offering (IPO) in 2026. The listing aims to tap into new capital pools to support exploration and production projects. Dos Santos reaffirmed during the fireside chat that the company is on track to make an IPO.