As Angola’s largest private oil producer, the company is implementing a bold expansion plan, targeting 80,000 bpd in crude production
CAPE TOWN, South Africa, May 30, 2025/APO Group/ --
Edson dos Santos, Chairman and CEO of Etu Energias – Angola’s largest private oil producer – has joined the African Energy Week (AEW): Invest in African Energies 2025 conference to discuss its plans for scaling-up operations across Angola’s upstream and downstream sectors. The company plans to increase crude production to 80,000 barrels per day (bpd) by 2030 while expanding downstream distribution and lubricant production. Dos Santos’ participation at Africa’s largest energy event will offer insight into how Etu Energias will achieve this.

Etu Energias Chief Executive Officer (CEO) Joins African Energy Week (AEW) 2025 to Detail Strategies for Achieving 80,000 Barrels Per Day (BPD)
Etu Energias’ expansion plan is built on five key pillars, namely operational excellence, growth, financing, people and ESG. In 2024, the company reported its strongest financial results to date, achieving a 53% increase in net profit compared to 2023. During the year, the company also increased its portfolio of operated and non-operated assets from 6 to 15, with the company’s oil reserves growing 2.5 times to reach 106 million barrels. By 2030, Etu Energias seeks to increase its reserves to 387 million barrels through investments in both exploration and development assets. At AEW: Invest in African Energies 2025, dos Santos will detail the company’s future development plans.
AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.
Upstream, Etu Energias is undertaking an ambitious drilling and production plan in 2025, with ongoing projects including eight exploration projects, 10 development projects and seven redevelopment projects. Onshore, the company signed a Risk Service Contract for Block CON 4 in May 2025, granting the company a 25-year operating licensing for the block. Of this, five years is allocated for exploration while 20 years is allocated for production. Etu Energias is the operator of Block CON 4, alongside Block CON 1 – whereby the first phase of studies has been completed and a seismic survey has been defined. The survey targets 430 km of 2D data in the first phase. Meanwhile, Etu Energias continues its 3D seismic campaign at Block FS/FST. Deforestation and demining are on track for May 2025 while the first exploration well is expected to be spud this year. Offshore, the company plans to complete exploration studies for its operated Block 2/05 in 2025, with well-drilling targeted for 2025/2026. This follows an increase in block acquisitions in 2024, including in Block 2/05 from 30% to 36%, in Block 14 from 20% to 29%, in Block 14K from 10% to 14.5% and in Block 17/06 from 5% to 7.5%.
Downstream, Etu Energias is expanding its retail and distribution network through the development of storage facility and lubricant infrastructure. The company launched a 1,000-ton-per-month lubricant line in 2024 in collaboration with Glide Petroleum and plans to start production in 2025. Plans to develop a storage and export terminal are also underway, with the company weighing options for an inland terminal or FSO lease. Further, Etu Energias plans to hold an Initial Public Offering (IPO) in 2026. The IPO will support efforts to raise capital as the company seeks new block opportunities in both the onshore and offshore market. The IPO will not only support debt reduction and capital raising, but enhancing the company’s credibility. Access to a wider investment pool will further support the company’s expansion plans in Angola. At AEW: Invest in African Energies 2025, dos Santos is expected to share further updates.
“Etu Energias is a prime example of an Angolan oil company unlocking significant value from Africa’s oil and gas reserves. Through its diverse portfolio of exploration and development blocks, its commitment to sustainable and inclusive growth, and dedication to strengthening downstream distribution, the company is driving impactful growth in Angola’s oil market. Looking ahead, investments made by Etu Energias will help chart a new future of energy security in southern Africa,” states Tomás Gerbasio, VP Commercial and Strategic Engagement, African Energy Chamber.
Distributed by APO Group on behalf of African Energy Chamber.
Farole has no moral authority to replace Mr. Diana. Becuase Farole is allied to the pirates around Eyl, they are the ones who financed his election campaign. Also it is a known fact that he still gets a big share of the ransom money. Either he should come clean from his piracy connection and seek a fresh mandate from Puntland people or stop accusing others for foreign connections.
We all know the entire Puntland region is in the pirate business – whether be their leader or the PIS, they all profit and I guess they are fighting over these.
Farole wants to take full control of the PIS so he could bury that money faster than anyone reports but PIS wants it's full control too.
The two can not agree this is what happens when Puntlanders see some cash.
Kayse, do you want to debate the political structures of "Somaliland" and Puntland? I'd be happy to show you the difference?
i am shocked because of the latest report released by the Weapons inpsection group in somalia exposing how Farole's adminstration involve into the somali pirates network, "do we call puntland or pirateland?"
There's no such thing as the Weapons Inspection Group, you imbecile of a person. Why don't you get your facts straight you typical moronic person.
dont you guys see that PIS is a foreign controlled tool, if farole does something wrong you have the full right to criticise him and his system, but when he does something in the right direction even though you have dislikes for him, admit he is going the right direction, ..place your comments without involving your emotions, PIS is a tool for the west, and farole is right to cancel there organisation, …I dont know if your only source of news is somalilandpress but if you have been reading news lately FAROLE has been working very hard lately to completely sort out puntland, and this step is so far the greatest step of all, well done to him,
allpuntiland and so somaliland they are based on clan method
The president of Puntland has the power and right to replace, control, manager, command, and oversee the structure, leaders, operations, and funding of Puntland security regardless of how it was created, who funds, advises, or founded. The PIA adn PSF is there to protect Puntland Soverognty. And the Osman is only refusing to resign because he knows he came to power because of his clan, can abuse power without being punished, and knows Faroole is looking for the opportunities of Osman. These two man are big Bulls fighting for one skinny cow. Whoever wins will enjoy the pleasure! So let them fight! Somaliland boy
One thing that is very clear is that Faroole and Osman are two corrupted criminals who are careless of Puntland soceity. They will rather do and feel pleased to engage and reinforce whatever their external masters ask them to do. I know their masters's office is in Addis Ababa but who they are is unclear to me. Are they from US, UK, India, or else wehre? Are they the head of CIA, MOSSAD, SIS, IIS, or MI6? I don't know but for sure, Osman does not work for Puntland but for outsiders. And there is no doubt, Faroole felt threat and wants to remove Osman simply because he is looking for some opportunities he currently can't expoilt because of Osman, for he knows Osman has a power and can block him from attaining.