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
10 articles · Updated · Bloomberg · May 5
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.
Chevron is selling its mature Angolan oil fields. Why is Energean betting its future on them?
What is the hidden environmental price of Europe’s quest for energy security in West African waters?