{"id":129713,"date":"2026-03-12T10:20:38","date_gmt":"2026-03-12T10:20:38","guid":{"rendered":"https:\/\/www.europesays.com\/africa\/129713\/"},"modified":"2026-03-12T10:20:38","modified_gmt":"2026-03-12T10:20:38","slug":"chevron-energean-agree-260-million-deal-for-angola-stakes-the-whistler-newspaper","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/africa\/129713\/","title":{"rendered":"Chevron, Energean Agree $260 Million Deal For Angola Stakes \u2013 The Whistler Newspaper"},"content":{"rendered":"

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Chevron has agreed to sell its offshore oil interests in Angola to Energean for a base price of $260 million, in a deal that strengthens Energean\u2019s presence in West Africa and forms part of Chevron\u2019s ongoing portfolio optimisation strategy.<\/p>\n

The sale covers Chevron\u2019s 31\u202f% operated stake in Block\u202f14 and 15.5\u202f% non\u2011operated interest in Block\u202f14K offshore Angola.<\/p>\n

The agreement is retroactive to January 1, 2026, but remains subject to regulatory approvals and customary closing conditions.<\/p>\n

Under the terms, Energean may also make additional contingent payments of up to $250 million through 2038, depending on future oil prices and production milestones.<\/p>\n

The assets currently produce approximately 42,000 barrels per day (gross), with Energean\u2019s net share expected to be around 13,000 barrels per day.<\/p>\n

Energean\u2019s Chief Executive, Mathios Rigas, described the acquisition as \u201ca landmark moment for Energean. It represents our first major investment in West Africa and reflects our strategic focus on disciplined growth and geographic diversification.<\/p>\n

\u201cThe high-quality, cash-generating Block\u202f14 assets have stable oil production and long-term growth potential.<\/p>\n

We look forward to working closely with the Government of Angola and our partners to complete the acquisition and advance Energean\u2019s strategic expansion in West Africa.\u201d<\/p>\n

For Chevron, the transaction allows the company to focus on other strategic assets in Angola while continuing operations in the country through remaining blocks.<\/p>\n

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