Etu Energias to acquire Chevron’s Angola deepwater assets for $260 million

Angolan oil company takes Chevron’s $260 million deal from London bidder using partner rights

An Angolan oil producer has used its rights as an existing partner to secure Chevron’s $260 million offshore asset sale, preventing a London-listed company from entering two producing blocks.

Etu Energias’ Chevron Deal Expands African Ownership in Angola’s Upstream Sector

The African Energy Chamber (AEC) welcomes the signing of an agreement between Etu Energias and Chevron for the acquisition of Chevron’s interests in Angola’s offshore Blocks 14 and 14K, describing the transaction as an important step in strengthening African participation in the development and ownership of the continent’s energy resources. Under the agreement announced on […] The post Etu Energias’ Chevron Deal Expands African Ownership in Ango…

Etu Energias wins Chevron's Angola blocks for $260 million

Etu Energias is buying Chevron's stakes in two Angolan offshore blocks for $260 million, ending a five-month contest with a London-listed company that had already signed the deal.The Angolan company will take Chevron's 31% operated interest in Block 14 and its 15.5% non-operated interest in Block 14K, both in the Lower Congo Basin. The base consideration is $260 million in cash with an economic effective date of Jan. 1, 2026. The purchase gives …

Etu Energias to acquire Chevron’s Angola deepwater assets for $260 million

Etu Energias will acquire Chevron’s 31% interest in Angola’s deepwater Block 14 and 15.5% interest in Block 14K for $260 million, giving the Angolan company a majority stake in Block 14 and positioning it to assume operatorship.