Trio Enlarges Slices of Two Angolan Offshore Blocks

In a move that strengthens their positions in Angola's offshore energy landscape, a trio of players - the UK-headquartered and AIM-listed Afentra, Etablissements Maurel & Prom S.A. (M&P), and Angola's national oil company Sonangol E&P - have signed off on the acquisition of the interest Etu Energias holds in two offshore blocks in this country on the western coast of South Africa. According to the [Offshore Energy](https://www.offshore-energy.biz/trio-enlarges-their-slices-of-two-angolan-offshore-blocks/) report, the three companies will now have enlarged their respective slices of Blocks 3/05 and 3/05A, which are located in the Kwanza Basin offshore Angola. The financial details of the transaction were not disclosed. This deal comes as Angola continues to attract investment and activity in its offshore oil and gas sector, which is a crucial driver of the country's economy. The involvement of both international and national players underscores the strategic importance of these assets. 'This transaction represents an important step in Afentra's strategy to build a material position in Angola,' said Afentra's CEO Paul McDade. 'We are pleased to have reached agreement with Sonangol and Maurel & Prom to increase our interests in these two high-quality blocks.' The increased stakes held by the trio in these Angolan offshore blocks are expected to strengthen their operational capabilities and market positioning in the region's energy landscape.