Etu Energias obtains funds for offshore farms in the Cabinda block

by MMC
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Offshore staff

LUANDA, AngolaAfrican Finance Company. invested $60 million in the Angolan private oil company Etu Energias (formerlySomoil).

The investment is part of a $190 million credit facility to help the company acquire deepwater oil and gas interests from TotalEnergies and Inpex.

Once finalized, Etu Energias will own 20% of block 14 and 10% of block 14K, 100 km from Cabinda, in northern Angola. Chevron operates both blocks.

This acquisition will double Etu Energias’ production to around 19,000 b/d.


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