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Angola’s Etu Energias Discusses Increase Oil Production
Etu Energias, the largest private oil producer in Angola, is actively participating as a silver sponsor in the Angola Oil & Gas (AOG) conference and exhibition.
The company’s presence at the event demonstrates its strong dedication to driving exploration and development for increased production in Angola, which is the main theme of this year’s conference.
Etu Energias, formerly known as Somoil, has set ambitious production targets of 50,000 barrels per day (bpd) by 2025 and 100,000 bpd by 2030. To achieve these goals, the company is investing in exploration and forming partnerships with other Angolan operators. This strategic approach aligns with Etu Energias’ vision of contributing to the growth of the Angolan economy. At the AOG 2024 conference in October, the company will elaborate on this strategy while engaging with global project developers and investors.
AOG is the largest oil and gas event in Angola and receives full support from key entities such as the Ministry of Mineral Resources, Oil and Gas; national oil company Sonangol; the National Oil, Gas and Biofuels Agency; the African Energy Chamber; and the Petroleum Derivatives Regulatory Institute. The conference provides a platform for signing deals and advancing Angola’s oil and gas industry. To inquire about sponsorship or participation as a delegate, please contact sales@energycapitalpower.com.
As an integrated company, Etu Energias is involved in upstream exploration, downstream distribution, renewable energy development, and consulting services. In terms of upstream activities, the company secured a strategic investment of $60 million in November 2023, which was part of a $190 million debt facility aimed at supporting asset acquisition in Angola. With this funding, Etu Energias acquired a 20% stake in the deepwater Block 14 and a 10% stake in the deepwater Block 14K, both located offshore. This transaction effectively doubled Etu Energias’ production capacity from 9,000 bpd to 19,000 bpd.
Currently, Etu Energias operates Blocks FS-FST, 2/05, CON-1, and CON-4, and holds interests in Blocks 3/05, 3.05A, 4/05, 17/06, CON-6, 14, and 14K. By 2030, the company aims to strengthen its position as an operator in onshore, shallow, and mature fields, establish partnerships for participation in lucrative blocks, develop a medium-sized network of fueling stations, and reinstate onshore storage and export capabilities for production in FST, Block 2/05, Block 3/05, and new blocks acquired in the onshore Congo basin.
In the downstream segment, Etu Energias launched a lubricant line in collaboration with Gilde Technology, a petroleum producer, in March 2024. A joint venture was established to oversee the development of a lubricant facility in Luanda, the capital city of Angola. The facility is projected to have a monthly capacity of 1,000 tons and is scheduled to commence construction in 2025. The joint venture aims to capture 25% of the market share by 2029.
Etu Energias’ sponsorship of AOG 2024 highlights its commitment to achieving these goals and further enhancing production growth in Angola. In the previous edition of the conference, held in 2023, the company signed a Technical Services Agreement with oilfield services company SLB for the development of Block 2/5. This year’s conference will witness the signing of similar agreements as major operators like Etu Energias contribute to the advancement of Angola’s oil and gas industry.
The suspects were apprehended for selling prohibited exotic birds and wild animals contrary to the provisions of the Endangered Species Act.
The National Environmental Standards and Regulations Enforcement Agency (NESREA), in collaboration with the National Park Service, has arrested three persons over alleged illegal trade in endangered wildlife species in Abuja.
This was disclosed in a statement on Wednesday by NESREA’s Assistant Director of Press, Nwamaka Ejiofor.
The suspects, identified as Musa Usman, Samila Abdullahi, and Saidu Jagaban, were arrested in different parts of the country’s capital.
According to her, the suspects were apprehended for selling prohibited exotic birds and wild animals, contrary to the provisions of the Endangered Species Act.
She stated that Usman and Abdullahi were found with 15 Senegalese parrots and one African grey parrot, while Jagaban was arrested for hawking three dead antelopes.
“The suspects were arrested in different parts of the city for the illegal sale of prohibited exotic birds and wild animals, contrary to the provisions of the Endangered Species Act,” the statement read in part.
“The trio is to remain in custody while investigation continues.”
NESREA Director-General, Innocent Barikor, reiterated that trafficking in endangered species remained a crime under Nigerian laws, and anyone caught culpable would be prosecuted accordingly.
Barikor emphasised on the need to protect endangered species, under the Convention on International Trade in Endangered Species (CITES), to which Nigeria is a signatory.
He added that all living things play different roles in ensuring biodiversity sustainability.
Former President Goodluck Jonathan on Wednesday warned against the creation of a one-party state, saying any nation that must practice it must do so carefully and with a well-planned process and projected outcome.
He stated this in Abuja while paying tribute to the late elder statesman, Edwin Clark, at a memorial lecture and day of tribute.
Jonathan warned that any attempt to bring about a one-party state through political machinations to soothe only personal aspirations will be detrimental to the country.
The former president also called on the family of the late former federal commissioner to, among other things, set up a yearly memorial lecture in his honour to continue to push his ideas and what he stood for, which is a united, equitable, and prosperous Nigeria.
On his part, the Labour Party presidential candidate in the 2023 general elections, Peter Obi, lamented that the labour of our heroes past was already in vain.
The former Anambra State governor highlighted the endemic poverty in rural areas, the state of insecurity, and the rising cost of living.
He maintained that the labour of people like Pa Edwin Clark had not paid off, as the sacrifices people like Pa Clark made were in vain today.
The chairman on the occasion and former Head of State, General Yakubu Gowon, said that the task of ensuring that Nigeria remains united and indivisible must be ensured by all, as the nation could only make progress if national interest was put before any personal interest.
Mohammed Idris, minister of information and national orientation, says media, as gatekeepers and partners in nation-building, have a crucial role to play in supporting our military’s morale by highlighting their successes and sacrifices
The minister noted the critical role of the media in shaping public perception, adding that terrorists and criminal groups often use these avenues to spread fear, propagate disinformation, and recruit followers.
He urged journalists and editors to adopt a responsible and patriotic approach to reporting these issues, by avoiding sensational headlines and refusing to serve as amplifiers of terror propaganda.
Idris stated this on Wednesday at the ministerial press briefing held at the National Press Centre in Abuja.
“The media, as gatekeepers and partners in nation-building, have a crucial role to play in supporting our military’s morale by highlighting their successes and sacrifices,” Idris said.
“We must deny these groups the undue publicity they crave. We must take them off the front pages and accurately report them as the criminals they are, without glorifying their acts or giving credence to their false narratives.
“These are not freedom fighters; they are murderers, kidnappers, and destroyers, and they must be presented as such.”
The minister also noted that federal government is “actively” investing in military capacity through the acquisition of modern equipment, enhanced intelligence, and strategic partnerships.
Idris said the press briefing series is a forum that allows ministers to update Nigerians on the key achievements, ongoing initiatives, and policy directions of their various ministries.
He commended the media for their continued support and their broader role in promoting public awareness of government initiatives.
“Through this interactive platform, which is being broadcast live on national television stations and streamed across social media platforms, we continue to demonstrate our commitment to transparency, accountability, and public engagement,” he added.