• Government validates risk service contract for 545 km² block

• Afentra to operate with 40% stake alongside Maurel & Prom and Sonangol

• Resources estimated at 130 million barrels of oil and 400 billion cubic feet of gas

The British company Afentra plc announced on Tuesday, October 14, 2025, that the Angolan government has officially approved a risk service contract for the offshore block 3/24, covering an area of 545 km².

The presidential decree validating the contract marks a key milestone in the project’s implementation. Afentra will hold a 40% stake and serve as operator, with Maurel & Prom Angola holding another 40% and the state-owned Sonangol 20%.

This approval allows Afentra and its partners to begin preparatory work for developing the block, whose resources are estimated at around 130 million barrels of oil and 400 billion cubic feet of natural gas.

Afentra noted that five oil discoveries have previously been made in the area: Palanca North East, Quissama, Goulongo, Cefo, and Kuma. Some, such as Palanca North East, have already been tested with production rates reaching up to 6,000 barrels per day.

The move aligns with Angola’s policy framework promoting risk service contracts, under which the state retains ownership of resources while attracting private investment for petroleum operations.

Afentra described the approval as a key regulatory step confirming its operational entry into the block, after acquiring interests in nearby blocks 3/05 and 3/05A, as reported by Ecofin Agency in July 2022.

In the coming months, the company plans to focus on analyzing historical data, rehabilitating old wells, and preparing a phased development plan. No production timeline has been announced yet.

Meanwhile, other international operators are also expanding in Angola. In September 2025, Chevron signed a preliminary risk service contract for offshore block 33/24, reflecting growing industry interest in this model.