Etu Energias, an Angola-based energy company, announced on Friday that it had signed an agreement with Chevron to acquire the U.S. major’s stakes in Blocks 14 and 14K offshore Angola.
The acquisition comes after London-listed Energean confirmed in June that it had reached a US$260 million deal to purchase the same assets from Chevron. Energean’s transaction faced delays after Etu Energias matched the offer, according to reports.
Blocks 14 and 14K are located in Angola’s prolific hydrocarbon-producing region. Chevron has been a long-standing operator in the country’s oil sector, though the terms of the sale to Etu Energias were not disclosed.
The agreement marks a further shift in asset ownership within Angola’s oil industry, where international and local players continue to reassess portfolios amid shifting market conditions and operational priorities.
