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Highlights
- Afentra PLC (LSE:AET) reports a substantial increase in 2C contingent resources across Angola assets.
- Independent assessments confirm new discoveries and expanded potential in Blocks 3/05, 3/05A, and 3/24.
- Ongoing programs target further resource conversion and development across onshore and offshore fields.
Afentra PLC (LSE:AET) announces substantial growth in 2C contingent resources across Angola assets, with ongoing programs targeting further development and exploration opportunities.
The oil and gas sector in Angola continues to demonstrate dynamic activity as companies pursue exploration and development initiatives in both offshore and onshore regions. Afentra PLC (LSE:AET) recently disclosed updates on its contingent resource base, highlighting a notable expansion across key blocks. These developments reflect ongoing efforts to assess, classify, and manage discovered but undeveloped resources.
Contingent Resource Assessment
Afentra PLC (LSE:AET) has completed an independent evaluation of its undeveloped oil and gas discoveries across Blocks 3/05 and 3/05A, which include Bufalo Norte, Punja, Gazela1&2, and Caco. The assessment certified working interest 2C contingent resources, incorporating associated gas volumes. Additionally, initial reviews of Block 3/24 discoveries indicate further contingent resource potential, expanding the company’s overall resource profile.
The total 2C contingent resources now represent a significant increase compared to previously reported figures. These updates follow established resource classification standards and provide a clearer understanding of both offshore and onshore resource potential.
Development and Workover Programs
Afentra PLC (LSE:AET) is advancing programs aimed at quantifying additional upside potential within producing fields of Block 3/05. Planned infill drilling and workover activities are expected to provide further insight into the recoverable contingent resources. These operational plans are part of broader efforts to optimize production infrastructure while enhancing resource management across the company’s portfolio.
While initial booked 2C contingent resources have been disclosed, the ongoing field programs are designed to identify additional quantities that may be converted to reserves under appropriate conditions. This approach ensures a structured evaluation of both existing and newly discovered resources.
Onshore and Offshore Opportunities
The company continues to review opportunities across its onshore Kwanza Basin acreage, including redevelopment of existing fields and assessment of prospective exploration blocks. Offshore operations remain focused on Blocks 3/05, 3/05A, and 3/24, with exploration and evaluation work progressing alongside production programs. These efforts collectively contribute to a comprehensive understanding of the company’s resource base in Angola.
Afentra PLC (LSE:AET) emphasizes rigorous technical standards in all assessments, adhering to recognized petroleum resource management frameworks. Independent audits support the credibility of contingent resource classifications and provide stakeholders with verified technical insights into the scale of discoveries.
Ongoing Reporting
The Afentra PLC (LSE:AET) annual reserves assessment is underway and will provide a detailed overview of confirmed quantities once completed. Technical reviews and independent audits continue to ensure the accuracy and reliability of resource data. These measures support transparent reporting practices in line with market standards.
