Afentra, the upstream oil and gas company focused on acquiring production and development assets in Africa, has announced that the KON-15 onshore license has been formally approved and awarded by Presidential Decree on 24 February 2025.
This follows the Company's announcement on 22 January 2024, confirming Afentra's selection as the non-operating preferred bidder for both the KON-15 and KON-19 blocks. Since then, Afentra was awarded the adjacent KON-19 license, which was formally signed in July 2024.
Under the terms of the KON-15 award, Afentra has secured a 45% non-operating interest in the block, alongside Sonangol who will be block operator. The formal signing of the contract is expected at a later date.
The award of the KON-15 license represents another important step in Afentra's strategy to build a meaningful presence in Angola's onshore Kwanza basin.
CEO Paul McDade commented:
'We are pleased to confirm the formal approval of the KON-15 license by Presidential Decree. This award reinforces our commitment to Angola's energy sector and underscores our focus on building strong partnerships with local operators. We look forward to working closely with Sonangol and the relevant authorities to fully understand the potential of KON-15 and KON-19 and the wider onshore Kwanza basin. We consider that this proven hydrocarbon basin, which has a history of production but where there has been very limited activity for over 40 years, has the potential to deliver significant upside potential for Afentra within our diversified portfolio. We will update the market with further developments in due course.'
Source: Afentra
