ANGOLA: Red Sky News Signs Agreement for Offshore Block 6/24
Red Sky Energy Limited advises that Managing Director Andrew Knox attended a formal signing ceremony in Angola to complete the Risk Service Contract (RSC) for Block 6/24, following recent parliamentary ratification.
This marks a key milestone in Red Sky’s expansion into Angola and underscores the Company’s commitment to building long-term partnerships in one of Africa’s most prospective offshore basins.
The RSC was initially executed on 31 December 2024 between Red Sky Energy (35%), Sonangol E&P (operator, 50%), and ACREP (15%), following direct negotiations with the Angolan National Agency for Oil, Gas, and Biofuels (ANPG).
Block 6/24, located just 12 kilometres offshore in Angola’s Kwanza Basin, includes the Cegonha oil field,
which has been independently assessed by PetroAus and carries a Net 2C Contingent Resource of 5.1 million barrels (MMbbl). Three additional prospects – IBIS, D2, and B2 – contribute a further 11.0 MMbbl in Net 2UProspective Resources to Red Sky’s portfolio. Early seismic studies have also revealed potential pre-salt structures under the Ibis prospect.
Managing Director Andrew Knox commented:
“The parliamentary ratification and formal agreement with the Angolan Government represent
a key strategic achievement for Red Sky.
Block 6/24 is an exceptional asset — anchored by a material oil discovery, surrounded by high potential prospects, and offering exposure to emerging pre-salt opportunities.
This milestone accelerates our ability to commence technical work with our partners Sonangol and ACREP and pursue early production potential. It also diversifies our portfolio across geographies and resource types, supporting long-term value creation for shareholders.
We are excited to take the next step in unlocking value from one of West Africa’s most prospective offshore basins.”
Next Steps
The formal agreement signing allows the joint venture to move into the execution phase, including:
- Finalisation of the Joint Venture Operating Agreement (JVOA)
- Commencement of Geological and Geophysical (G&G) studies
- Preparation for seismic reprocessing and potential drilling
Background: Block 6/24 Ownership and Location
Sonangol E&P is the operator of the Block, with a 50% participating interest. Red Sky Energy holds a 35% participating interest, and ACREP has a 15% interest. Block 6/24 is located 12 kilometres offshore, in water depths ranging from 70 to 80 metres. Seismic data covering the block has shown significant oil discovery potential.