Earlier this year, Afentra signed a sale and purchase agreement with Sonangol Pesquisa e Producao S.A. (Sonangol) to acquire 20% of Block 3/05 and 40% of Block 23. The transaction remains subject to government approvals and granting of an extension of the Block 3/05 production sharing agreement (PSA) until at least Dec. 31, 2040.
In July, Afentra (Angola) also signed a PSA with INA - Industrija Nafte to take a 4% interest in Block 3/05 and up to 5.33% of offshore Block 3/05A. This deal too should clear early next year.
The two sets of interests in Block 3/05 would give Afentra about 4,600 bbl/d net production, based on performance for the first nine months of this year.