By our correspondent
ETU Energias is pleased to announce the successful signing and closure of a structured disbursement agreement to finance its capital expenditure and development activities for its 7.5% participating interest in Block 17/06, home to Angola’s pioneering inter-block oil development – the Begonia Project.
The announcement was made during the 2025 edition of Africa Energy Week (AEW) in Cape Town, highlighting ETU Energias’ continued growth momentum and ability to secure competitive financing in support of strategic energy investments.
Located approximately 150 kilometers off the Angolan coast, the Begonia development is Angola’s first inter-block project, integrating production facilities across Block 17 and Block 17/06 to unlock efficiencies and optimize resource utilization. With an expected total output of 30,000 barrels per day, Begonia represents a significant milestone in deep offshore collaboration and innovation.
The financing agreement ensures ETU Energias’ full participation in this high-impact development, reinforcing the company’s financial strength, operational credibility, and long-term commitment to Angola’s energy sector.
The deal was arranged by a financial consortium including MCB (Mauritius Commercial Bank), acting as lead arranger, lender, and transaction bank, with TOTSA (TotalEnergies Trading SA).
“This project sets a benchmark for future inter-block developments in Angola. It illustrates the power of strategic partnerships, innovative financing, and shared infrastructure in delivering value to stakeholders and advancing national energy goals,” said Edson R. dos Santos, CEO of ETU Energias. “This agreement reflects our growing strength as an independent company and our unwavering commitment to Angola’s energy future.”
ETU Energias joins a robust and experienced consortium led by TotalEnergies (30%, operator), alongside Sonangol E&P (30%), SSI (27.5%), and Falcon Oil (5%). Together, the partners bring complementary expertise and resources to execute this offshore development with efficiency, safety, and sustainability at its core.
“By supporting innovative and collaborative projects, we not only enhance national energy security, but also help foster new models of partnership that can be replicated across the region,” added dos Santos.
With first oil already achieved, ETU Energias remains fully committed to supporting ongoing operations and the future expansion of Block 17/06. The block holds considerable gas potential, presenting a strategic opportunity for Angola’s energy diversification and long-term sustainability.
“Our financial commitment extends beyond oil production. We’re investing in the full hydrocarbon potential of Block 17/06, including natural gas resources vital to Angola’s energy future,” dos Santos emphasized.
ETU Energias S.A. is Angola’s largest private energy company, operating across key oil and gas basins nationwide. With a portfolio of both operated and non-operated blocks, the company applies innovative technologies to explore and produce hydrocarbons efficiently and responsibly.
