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.
To all the self-respecting Somalilanders, I wish to see our great Somaliland compatriots to see beyond the lies of those few corrupt officials who are misappropriating our resources and selling our future generations resources without anybody questioning and stand up for them courageously so they'll know that we are not small ants and termites and we are equally responsible and care for our country. Let us stand up and say no to EX ADNOC sales man and the likes.
We have had enough of this and can't tolerate it any day longer. This is our land and Somalilander has a right to live in his own country with respect without being terrorized by RRU. let them give way to real Patriots of Somaliland to lead us to a real prosperity and not an imaginary one!
This is excellent news for Somaliland an am sure we heading the right direction and lets support our energy minister to fulfil this promise insha allah as the say they "where there is a will there is a way". In my view Somaliland has the potential to thrive and if we get the energy production up running this will bring employment, development and prosperity with this kind of much needed revenue our country can improve its infrastructure development. Together as Somalilanders we can achieve great a great deal as our population is quite small of about 3.5million and with the size of the country we occupy and the resource we should be the likes of GCC, all we need is a visionary, commitment, trusting and supporting our leaders and of course they should be accountable themselves and it’s a question of getting the cheques and balances right and we do have educated society coming from of all walks of life and with depth of diverse experience and skills from International countries.
In the light of this we should be positive and learn from past mistakes and move on and have a clear strategy as we have put in place now. Let’s forget the petty politics and personality and be patriotic and nationalists for once and put Somaliland first than any other issues.
Kolo, you've said it, we need visionaries but these people are no visionaries and i am not motivated by anything other than my love for my country, by the way i do not live in my country Somaliland but i observe and monitor what's going on in my country from abroad, so i can safely say that we've seen enough of this people and even though i supported them against their predecessors and any hope that they will perform better has just vanished now. My word of advice to my people is that wake up brothers and sisters now before it's to late!
Have a good night sleep!