Etu Energias Targets 100,000 Barrels Per Day (BPD) by 2030, Joins African Energy Week (AEW) 2024 as Bronze Sponsor

Angola’s largest private oil producer Etu Energias has joined the African Energy Week (AEW): Invest in African Energy 2024 conference as a Bronze Sponsor, underscoring its commitment to advancing Africa’s oil and gas development. During this year’s conference – which serves as the largest energy event in Africa, taking place November 4-8 in Cape Town – Etu Energias will showcase its ongoing contributions and ambitious production targets as the company continues to expand its footprint in the region.

Etu Energias aims to produce 50,000 barrels of oil per day (bpd) by 2025 and 100,000 bpd by 2030. The company’s commercial strategy involves increasing production through both organic and inorganic growth, investing in upstream exploration and forming key partnerships with other Angolan operators. Etu Energias recently more than doubled its production capacity from 9,000 bpd to 19,000 bpd with the acquisition of stakes in offshore Blocks 14 and 14K. The transaction was supported by a $60 million investment secured from the African Finance Corporation in 2023. At AEW: Invest in African Energy 2024, Etu Energias’ CEO Edson dos Santos will outline this production strategy and future plans.

AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.

Etu Energias currently operates several key assets, including Blocks FS-FST, 2/05, CON-1 and CON-4, and holds interests in Blocks 3/05, 3.05A, 4/05, 17/06, CON-6, 14 and 14K in Angola. By 2030, Etu Energias plans to strengthen its role as a leading operator across onshore, shallow and mature fields, participate in golden block opportunities and expand its infrastructure, including onshore storage and export facilities.

Additionally, the company is making strides in the downstream sector. In March 2024, Etu Energias launched a lubricant line in partnership with Gilde Technology, with plans to establish a lubricant production facility in Luanda. Set to begin construction in 2025, this joint venture aims to produce 1,000 tons of lubricants per month and capture 25% of the Angolan market by 2029. These initiatives demonstrate Etu Energias’ commitment to diversifying its portfolio while supporting Angola’s growing energy landscape.

“Angola’s oil and gas sector holds immense potential for growth, not just for the country but for Africa as a whole. Companies like Etu Energias are at the forefront of this transformation, driving innovation and production capacity through strategic investments, acquisitions and partnerships. Its efforts are critical to ensuring that Angola maximizes its resources, strengthens its energy security and positions itself as a key player in the global energy market,” states NJ Ayuk, Executive Chairman of the African Energy Chamber.

Etu Energias’ participation at AEW: Invest in African Energy 2024 further solidifies its position as a major contributor to Angola’s oil and gas industry. The company’s return to the event as a sponsor showcases its forward-thinking approach to energy development and investment in Africa.

Distributed by APO Group on behalf of African Energy Chamber.