Energean scales up Africa operations with Angola oil block acquisitions
Updated
Updated · Bloomberg · May 5
Energean scales up Africa operations with Angola oil block acquisitions
3 articles · Updated · Bloomberg · May 5
Summary
The London-based company bought two offshore Angolan blocks from Chevron in March, and chief executive Mathios Rigas said it wants more projects across the continent.
Rigas said the move is meant to diversify Energean beyond its Middle East focus and establish a foothold in West Africa, where he sees many discovered but undeveloped resources.
The expansion comes as conflict in the Middle East unsettles energy markets, pushing the Israel-focused producer to broaden its geographic exposure and growth pipeline.