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.
This essentially proves my long standing point of Puntland being used a platform for the Puntlanders to retreat if don't get their way in Somalia. Mr. Gas was the PM of of the TFG for a short period then he lost his post as well his shirt during last bogus elections. Now he's angry and obviously almost broke. So, in a desperate attempt to get his financial situation in order he is going to run for a presidential position in Puntland next yr…. Great! what a phony move..
Mr. Gas doesn't care about Puntland nor Somalia, in that matter, he's planning to running for the highest spot in Puntland so he can fill his deep pockets with donated funds from the West…
Dr. Ali is a Harvard trained economist and professor at Niagra University in New York. He does not need to make a living off of puntland or Somalia for that matter. Stop spreading lies about an individual you do not know because you dislike puntland or MJs, it's really transparent. Your rant is typical somali gibberish, where somalis turn to personal attacks when they want to insult someone's clan or region.
Oh! please get real..I don't think he even he attended at Harvard U let alone being a a graduate of HU … If he did why is he being so unethical for in engaging himself to become the next president for a semi-autonomous region of somalia? if you did not get the picture that he is using Puntland as a bargain chip,
Please think a little bit harder..it's quite obvious…
shouldn't Mr. Gas be advocating for the unity of Somali-Italiano? Why is throwing more fuel into the fire by dividing the people he led them as their PM 1.5 yrs ago? Where is he so against to the people who trusted him with their most sensitive docs of their nation? I guess, you don't care about what he does or how he does it, as long as he is one of your kinfolks…. one day he might employ as a chauffeur…perhaps a butler.. or a garden boy….
You and him are no different… you are both thugs with no sense of patriotism.. no wonder Somalia is in flames…
The reputation of renegade Puntland died with Abdillahi Yusuf…the creator of all the MJs
problems against the AL-Somal big patriotism picture. Dob't get me wrong, there are others too..
but this guy was special in creating never ending fitnas.
Cheers.
I think you are right..there are more rusted nails in that region which need to be pried out with precious apparatus…It's unfortunate that Somalia's new president doesn't have the right tools to go in Puntland and weed those thugs out..Somalia will never get stabilized as long as Puntland exists,..that for sure..
Run for what can of president? Do they mean regional administrator ?
All the MJs politicians since 1st July 1960, only A/rashid Sharmarke was a true politician.
All others were/are likewise PuntlandGeezer(PIS) or Kayse Film hindi, psychos.
Cheers.
I don't understand this, two years ago he was the PM of SFG, now he is running for president in a region of the west african colony. Daroods claim union when it suit them.
Just yesterday faroole cut off relations with the SFG . What does this say about the d-tribe and their claims of being supporters of united somalia
I’m a true puntlander, a true patriot of all Somalia. I don’t think Puntland needs Dr Gass now. The reason is that he’s too softy too lean towards Xamar administration. In reality puntland has neighbors whom unfortunately dream about destroying Puntland each and everyday so we don’t need Morally thinking leader. Dr Gass vs Faroole I rather go with Faroole.
Ragga iska dhici Adeer
osman Qaal,
GET A LIFE MATE YOU SOUND LOST PERSON……………………..