{"id":12966,"date":"2022-12-14T08:28:58","date_gmt":"2022-12-14T08:28:58","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=12966"},"modified":"2022-12-14T08:28:58","modified_gmt":"2022-12-14T08:28:58","slug":"angola-afentra-expects-entry-into-angola-in-early-2023","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/angola-afentra-expects-entry-into-angola-in-early-2023\/","title":{"rendered":"ANGOLA: Afentra Expects Entry into Angola in Early 2023"},"content":{"rendered":"

Afentra says it remains in discussion with all relevant parties and is continuing to make good progress on the transaction to purchase non-operating interests in Block 3\/05 (20%) and Block 23 (40%), offshore Angola.\u00a0 An important CP for the transaction is the PSA extension process; ANPG and the Block 3\/05 contractor group continue to progress this matter. Nevertheless, the PSA extension is now unlikely to be finalised before 31 December 2022 and the Company, together with Sonangol, are working on extending the long stop date for the Sonangol Acquisition in order to facilitate satisfaction of the remaining CPs to enable completion in Q1 2023.<\/span><\/p>\n

Afentra adds that good progress has been made with Industrija Nafte d.d. (INA) to purchase a 4% interest in Block 3\/05 and an up to 5.33% interest1<\/sup>\u00a0in Block 3\/05A offshore Angola and the relevant authorities. The transaction is now with the Ministry awaiting Governmental approval, and formal completion is anticipated to occur in early 2023. Given the progress made to date, there is not considered to be any requirement to extend the long-stop date pursuant to the INA Acquisition at this time, as set out in the Company’s admission document.<\/span><\/p>\n

Block 3\/05 operational update<\/span><\/strong><\/p>\n

Block 3\/05 production for the first nine months of 2022 has been stable and in-line with expectation at 19,160 bopd gross. This is equivalent to ~4,600 bopd net to Afentra upon completion of the Sonangol and INA Acquisitions. The Company looks forward to continuing to guide the market on operational performance.<\/span><\/p>\n

Finally, we have made good progress in our search for a further independent Non-Executive Director and are in the final stage of this process, which will ensure a further strengthening of the Afentra Board as we expand the Company’s portfolio. We hope to be in a position to finalise this appointment around the time of completion of the Sonangol Acquisition.<\/span><\/p>\n

The Company looks forward to providing shareholders with further updates in due course.<\/span><\/p>\n

Commenting on the update, CEO Paul McDade said:<\/span><\/p>\n

“We expect governmental approval of the INA Acquisition shortly which will allow us to complete this acquisition, marking our entry into Angola in early 2023 and the inception of our partnership with Sonangol in Blocks 3\/05 and 3\/05A with whom we intend to work closely with to optimise production and to extend the life of this quality, long-life asset. We are pleased that significant progress has been made on the award of the license extension and look forward to this being completed so that we can proceed with the Sonangol Acquisition in the near future.”<\/span><\/p>\n

On 28 April 2022, the Company announced that its wholly-owned subsidiary, Afentra (Angola) Ltd, had signed a sale and purchase agreement with Sonangol Pesquisa e Producao S.A.\u00a0 to purchase non-operating interests in Block 3\/05 (20%) and Block 23 (40%), offshore Angola. As set out in the admission document published by the Company on 10 August 2022, the Sonangol Acquisition is subject to a number of conditions precedent (the ‘CPs’), including the receipt of governmental approvals and the extension of the Block 3\/05 Production Sharing Agreement (‘PSA’) until at least 31 December 2040.<\/span><\/p>\n

On 19 July 2022, the Company announced that its wholly-owned subsidiary, Afentra (Angola) Ltd, had signed an SPA with INA – Industrija Nafte d.d. (‘INA’) to purchase a 4% interest in Block 3\/05 and an up to 5.33% interest1<\/sup>\u00a0in Block 3\/05A offshore Angola (the ‘INA Acquisition’). As set out in the admission document published by the Company on 10 August 2022, the INA Acquisition also remains subject to a number of CPs.<\/span><\/p>\n

\n","protected":false},"excerpt":{"rendered":"

Afentra says it remains in discussion with all relevant parties and is continuing to make good progress on the transaction to purchase non-operating interests in Block 3\/05 (20%) and Block … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":12967,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,7445,11],"tags":[9279,160,7458,10152,10901],"class_list":["post-12966","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-southern-africa","category-top-news","tag-afentra","tag-angola","tag-anpg","tag-block-3-05","tag-industrija-nafte-d-d","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/Angola-Block-3-05.png?fit=596%2C584&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3n8","jetpack-related-posts":[{"id":12470,"url":"https:\/\/www.oilnewskenya.com\/index.php\/afentra-acquires-additional-interests-in-offshore-block-3-05-3-05a\/","url_meta":{"origin":12966,"position":0},"title":"ANGOLA: Afentra Acquires Additional Interests in Offshore Block 3\/05 & 3\/05A","author":"","date":"July 20, 2022","format":false,"excerpt":"Afentra plc has signed a Sale and Purchase Agreement (SPA) with INA - Industrija Nafte, d.d. to acquire a 4% interest in Block 3\/05 and a 5.33% interest1 in Block 3\/05A, offshore Angola. This transaction builds upon the acquisition of a 20% interest in Block 3\/05 from Sonangol announced in\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/07\/Angola-Block-3-05.png?fit=596%2C584&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/07\/Angola-Block-3-05.png?fit=596%2C584&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/07\/Angola-Block-3-05.png?fit=596%2C584&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":14172,"url":"https:\/\/www.oilnewskenya.com\/index.php\/angola-serinus-energy-afentra-selected-as-a-preferred-bidders-in-2023-onshore-bid-round\/","url_meta":{"origin":12966,"position":1},"title":"ANGOLA: Serinus Energy & Afentra Selected as a Preferred Bidders in 2023 Onshore Bid\u00a0Round","author":"","date":"January 23, 2024","format":false,"excerpt":"Serinus Energy notes that it has been selected as a preferred bidder on the KON-13 block in the onshore Kwanza basin in the Republic of Angola. Formal notification of this preferred bidder status is expected to be received from the Ag\u00eancia Nacional De Petr\u00f3leo, G\u00e1s E Biocombust\u00edveis (ANPG) in the\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/01\/Angola-Licence-Areas-Map-2023.jpg?fit=1200%2C1057&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/01\/Angola-Licence-Areas-Map-2023.jpg?fit=1200%2C1057&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/01\/Angola-Licence-Areas-Map-2023.jpg?fit=1200%2C1057&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/01\/Angola-Licence-Areas-Map-2023.jpg?fit=1200%2C1057&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/01\/Angola-Licence-Areas-Map-2023.jpg?fit=1200%2C1057&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":11798,"url":"https:\/\/www.oilnewskenya.com\/index.php\/angola-afentra-confirms-negotiations-with-sonangol-to-purchase-interests-in-block-3-05-block-23\/","url_meta":{"origin":12966,"position":2},"title":"ANGOLA: Afentra confirms Negotiations with Sonangol to Purchase Interests in Block 3\/05 & Block 23","author":"","date":"February 8, 2022","format":false,"excerpt":"Afentra has confirmed that negotiations with Sonangol E.P to purchase interests in Block 3\/05 and Block 23 in Angola have continued into the new year following the announcement on 8 October 2021 that the Company had submitted a non-binding Expression of Interest for the two blocks and the subsequent suspension\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/02\/Angola_Map_Detail.png?fit=1200%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/02\/Angola_Map_Detail.png?fit=1200%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/02\/Angola_Map_Detail.png?fit=1200%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/02\/Angola_Map_Detail.png?fit=1200%2C1200&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/02\/Angola_Map_Detail.png?fit=1200%2C1200&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":12132,"url":"https:\/\/www.oilnewskenya.com\/index.php\/angola-afentra-selected-as-preferred-bidder-to-purchase-interests-in-block-3-05-and-block-23\/","url_meta":{"origin":12966,"position":3},"title":"ANGOLA: Afentra Selected as Preferred Bidder to Purchase Interests in Block 3\/05 and Block 23","author":"","date":"April 14, 2022","format":false,"excerpt":"Afentra has announced that Afentra has been selected as preferred bidder to purchase interests in Block 3\/05 and Block 23. This follows the announcements on 8 October 2021 and 3 February 2022 that the Company had submitted a non-binding expression of interest for the two blocks which resulted in the\u2026","rel":"","context":"In "Central Africa"","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/09\/Angola-Blocks-2020.jpg?fit=901%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/09\/Angola-Blocks-2020.jpg?fit=901%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/09\/Angola-Blocks-2020.jpg?fit=901%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/09\/Angola-Blocks-2020.jpg?fit=901%2C1200&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":15192,"url":"https:\/\/www.oilnewskenya.com\/index.php\/afentra-signs-hot-with-anpg-for-the-risk-service-contract-for-offshore-block-3-24\/","url_meta":{"origin":12966,"position":4},"title":"Afentra Signs HoT with ANPG for the Risk Service Contract for offshore Block 3\/24","author":"","date":"September 5, 2025","format":false,"excerpt":"Afentra has announced that it has signed Heads of Terms with\u00a0Angola's\u00a0National Agency of Petroleum, Gas and Biofuels (ANPG) for the Risk Service Contract (RSC) for offshore Block 3\/24, located adjacent to its existing Block 3\/05 & 5A interests in\u00a0Angola. The formal award of the license is expected in the coming\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/Angola-Block-3-05.png?fit=596%2C584&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/Angola-Block-3-05.png?fit=596%2C584&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/Angola-Block-3-05.png?fit=596%2C584&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":15281,"url":"https:\/\/www.oilnewskenya.com\/index.php\/angola-afentra-receives-approval-of-block-3-24-license\/","url_meta":{"origin":12966,"position":5},"title":"ANGOLA: Afentra Receives Approval of Block 3\/24 License","author":"","date":"October 15, 2025","format":false,"excerpt":"Afentra announces that\u00a0the Risk Service Contract (RSC) for offshore Block 3\/24 has been formally approved by Presidential Decree. This follows the Company's announcement on 4 September 2025 confirming the signing of Heads of Terms with Angola's National Agency of Petroleum, Gas and Biofuels (ANPG). Block 3\/24 is located adjacent to\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/10\/Angola-Block-3-24.png?fit=412%2C528&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12966","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=12966"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12966\/revisions"}],"predecessor-version":[{"id":12968,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12966\/revisions\/12968"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/12967"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=12966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=12966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=12966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}