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Approval of Block 3/24 License - Offshore Angola
Afentra PLC announced the formal approval of the Risk Service Contract for offshore Block 3/24 via Presidential Decree. Afentra will operate the block with a 40% interest, alongside Maurel & Prom Angola S.A.S. (40%) and Sonangol E&P (20%). Block 3/24 covers 545 km2 and contains five discoveries: Palanca North East, Quissama, Goulongo, Cefo, and Kuma. The block is estimated to include over 130 mmbbls of STOIIP and 400 bcf GIIP of discovered resources. The previously developed Canuku field cluster, within the block, has produced up to 12,000 bopd. Key discoveries include Palanca North East tested at 6,000 bopd, Goulongo at 2,400 bopd, Quissama at 3,000 bopd, Kuma at 1,800 bopd, and Cefo at 1,150 bcpd and 32 mmcfd. Disclaimer*
About this update from Afentra Plc
[{"type":"text","content":"\n\n14 October 2025\n \nAFENTRA PLC\n \nApproval of Block 3/24 License - Offshore Angola\n \nAfentra plc ('Afentra' or the 'Company') (AIM: AET), the upstream oil and gas company focused on acquiring production and development assets in Africa, announces that the Risk Service Contract ('RSC') for offshore Block 3/24 has been formally approved by Presidential Decree.\n \nThis follows the Company's announcement on 4 September 2025 confirming the signing of Heads of Terms with Angola's National Agency of Petroleum, Gas and Biofuels (ANPG). Block 3/24 is located adjacent to Afentra's existing interests in Blocks 3/05 and 3/05A and contains five established discoveries in shallow water, offering short-cycle, low-cost development as well as near-field exploration potential.\n \nUnder the terms of the RSC, Afentra will be Operator with a 40% interest in the block, alongside Maurel & Prom Angola S.A.S. (40%) and Sonangol E&P (20%).\n \nAbout Block 3/24\nBlock 3/24 covers 545 km2 and is adjacent to Afentra's existing producing oil fields and undeveloped discoveries in Blocks 3/05 and 3/05A. The block adds a further five discoveries - Palanca North East, Quissama, Goulongo, Cefo and Kuma - all located in the same Pinda reservoir as the existing oil fields in Block 3/05 and 3/05A. In addition, the block contains the previously developed Canuku field cluster, which has produced up to 12,000 bopd. The block is estimated to include over 130 mmbbls of STOIIP and 400 bcf GIIP of already discovered resources.\nThese discoveries and previous development assets offer a significant opportunity to apply modern technology to deliver short-cycle, low-cost developments tied back to the existing infrastructure in Block 3/05. A number of exploration prospects have also been identified based on existing 3D seismic data.\n \nKey Discoveries\n- Palanca North East discovered in 1988, tested at 6,000 bopd (38 API)\n- Goulongo discovered in 1988, tested at a constrained rate of 2,400 bopd (23 API)\n- Quissama discovered in 1987, appraised in 1992 and tested at a constrained rate of ~3,000 bopd (36 API)\n- Kuma discovered in 1988, tested at 1,800 bopd (32 API)\n- &nb...