Afentra’s Portfolio and Growth Strategy
Afentra plc presented its growth strategy at the Pareto Energy Conference, highlighting near and medium-term potential in Angola, building on a 400% increase in 2C contingent resources. The company detailed plans for infill drilling and workovers in Block 3/05 fields, targeting up to 12,500 bopd gross production uplift and 120 mmbbo gross reserves and resources exposure, with an estimated gross capital expenditure of $115-130 million. Afentra also outlined plans to fast-track Block 3/24 development, aiming for a Final Investment Decision in Q4 2026, and discussed its onshore Kwanza Basin portfolio.
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Afentra plc ('Afentra' or the 'Company') (AIM: AET), an upstream oil and gas company focused on acquiring production and development assets in Africa, announces that its Chief Operating Officer, Ian Cloke, will present at the Pareto Energy Conference in London today, 22 January 2026.
The presentation, available on the Company's website https://wp-afentra-2025.s3.eu-west-2.amazonaws.com/media/2026/01/2026.01.-22-AET-Pareto-Energy-Conf-London.pdf, provides an overview of Afentra's near and medium-term growth potential from both offshore and onshore Angola, building on the recently announced 400% increase in 2C contingent resources.
Highlights from the presentation include:
- Overview of Afentra's growth strategy across offshore and onshore Angola, focused on scalable, infrastructure-led development opportunities across its portfolio
- Details of the potential 2026-2027 infill drilling and heavy workover programme across the producing Block 3/05 fields, with planning underway for up to two wells (Impala-2 and Pacassa SW-1) and three workovers in the Palanca field. These activities could together provide:
o Production uplift of up to 12,500 bopd gross (Net: 3,750 bopd)
o Reserves and resources upside exposure of up to 120 mmbbo gross (Net: ~36 mmbbo)
o Capex for the activities is expected to be ~ $115-130million gross (Net: $34-39 million)
- Update on the plans to "fast-track" the operated development of Block 3/24 discoveries, leveraging existing infrastructure, with development studies targeting a Final Investment Decision in Q4 2026
- Outline of Afentra's onshore Kwanza Basin portfolio, including early production opportunities and medium-term exploration upside.
The presentation highlights Afentra's transition into its next phase of production and reserves growth focused on disciplined, value-driven well and development activities, underpinned by a growing pipeline of organic opportunities across its offshore and onshore assets.
Glossary
| bopd | barrels of oil per day |
| mmbo | million barrels of oil |
Standard
Technical Information
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