Etu Energias Snatches Chevron's Angola Stakes for $260M

Etu Energias has acquired Chevron's stakes in Angola's Block 14 and Block 14K, expanding its presence in the region. The deal was finalized on August 31, 2026, after Etu Energias exercised pre-emption rights to purchase the shares.

The agreement involves Chevron's 31% interest in Block 14 and 15.5% interest in Block 14K being transferred to Etu Energias for $260 million. This is a significant development for Etu Energias, as it will now take over around 13,000 barrels per day (bopd) of production from the blocks.

The total gross production of the Block is currently 42,000 bopd, with reserves totaling 29 million barrels. The deal includes technical and operational support provided by BW Energy and Chariot Limited, while a credit facility from Shell Western Supply and Trading Ltd. financed the transaction.