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