Angolan independent oil and gas company, Etu Energias, has secured a structured finance agreement to fund its 7.5% participating interest in Block 17/06, where the Begonia project is located.
The agreement was formalised on Thursday during African Energy Week 2025 in Cape Town, with Etu Energias CEO, Edson Dos Santos, signing alongside Matthew Thomas, Senior Relationship Manager – Structured Debt at Mauritius Commercial Bank (MCB), and Vianney Faucheur de Battisti, Head of Structured Trade Finance, New Ventures at TotalEnergies Trading SA.
Begonia, Angola’s first inter-block development, began production earlier this year and is expected to deliver 30,000 barrels of oil per day. Partners on the block include Sonangol E&P, SSI, Etu Energias and Falcon Oil, with TotalEnergies serving as operator.
Dos Santos described the financing deal as a crucial step for Etu Energias, noting its role in enabling the company to expand operations and consolidate its position as Angola’s largest privately-owned energy firm.
TotalEnergies’ de Battisti said the agreement underscored the strength of the companies’ collaboration: “As a long-time partner of Etu Energias, we are pleased to continue our collaboration and grow it further with this transaction.”
MCB’s Thomas added that the financing was also significant for the bank. “This is a landmark moment for MCB. We have been active in African markets for quite some time, and we are proud to support African E&Ps in driving efficient operations and growth,” he said.
Leave a Reply