Angola-focused oil company Etu Energias has agreed to acquire Chevron’s participating interests in Blocks 14 and 14K offshore Angola, the company said on Friday.
The transaction follows a prior agreement by London-listed Energean to purchase the same assets for $260 million, which the company noted in June faced uncertainty after Etu Energias matched the offer. The latest deal marks a shift in control of the two Angolan blocks, which have been operated by Chevron since their development.
Financial terms of Etu Energias’ acquisition were not disclosed. The move underscores growing interest among independent producers in Angola’s mature oil fields, where Chevron has been a long-standing operator. Blocks 14 and 14K are located in the Lower Congo Basin, a region with established infrastructure and production capacity.
Etu Energias, headquartered in Angola, did not provide additional details on the timeline for closing the transaction or regulatory approvals required for the transfer of participating interests.
