Etu Energias, Angola’s largest private oil producer, has announced that it has successfully closed close to $1 billion in mergers and acquisitions (M&A) deals since 2022, cementing its position as a key player in the African oil and gas market.
The milestone was revealed by CEO Edson dos Santos during an exclusive on-stage interview at the Angola Oil & Gas 2025 Conference and Exhibition.
“Over the last three years, we have done close to $1 billion worth in M&A transactions. With the right partners, you can expect more M&A coming up for Etu Energias,” said dos Santos.
The company has set a bold target of ramping up production to 80,000 barrels per day (bpd) by 2030. This strategic move underlines Etu Energias’ commitment to maximizing Angola’s vast oil resources while strengthening its footprint in the global energy market.
“We want to produce 80,000 bpd in the next five years and all the company’s activities are [geared towards] achieving this goal,” dos Santos emphasized.
Currently, the company is driving growth through eight exploration projects, 10 development projects, and seven redevelopment projects, a portfolio designed to deliver long-term energy security and revenue generation.
In July 2025, Etu Energias kickstarted drilling activities at Block 2/05 offshore Angola, a program that includes three development wells, one exploration well, and five technical interventions across existing wells. The firm plans to wrap up exploration studies this year and commence additional drilling in 2025/2026.
Onshore, the company is expanding seismic research operations, aiming to unlock fresh opportunities for exploration and future development projects.
To sustain its growth momentum, Etu Energias is preparing for an Initial Public Offering (IPO) in 2026, a move expected to attract fresh capital inflows for ongoing and future oil exploration and production projects.
Dos Santos reaffirmed the company’s commitment to the IPO, stating that the listing will strengthen the firm’s financial position and accelerate its strategic objectives.
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