Chariot CEO: Second Angola Deal Doubles Oil Exposure to 8,000 bpd

M&A · PartnershipCommodity
โดย Proactive Investors·AO·Read original
Summary · why it matters

Chariot Ltd CEO Adonis Pouroulis announced that the company's second Angolan transaction will double its oil production exposure to approximately 8,000 barrels per day. The deal involves supporting Etu Energias, which has agreed to acquire interests in offshore Angola Blocks 14 and 14K from Chevron, with Chariot also signing a framework agreement with BW Energy and Etu Energias for technical and operational support, and Shell Western Supply and Trading providing acquisition debt funding. This follows February's transaction with Etu Energias and Azule Energy in the same blocks, which gave Chariot an economic interest equivalent to about 4,000 bpd, and the latest deal is expected to add another 4,000 bpd. Pouroulis highlighted the established production profile of Blocks 14 and 14K, currently around 40,000 bpd, the licence extension to 2038, and upside from recent discoveries and existing infrastructure, stating, "This isn't an exploration risk. This is revenue now." The first Angola deal is expected to close in H2 2026, with the latest closing in Q1 2027, subject to regulatory approvals, and Pouroulis also reiterated the importance of the Anchois gas discovery in Chariot's Lixus concession offshore Morocco.

Impact on stocks 2

Energy Transition & Power Demand▲ · 1 stocks
Chariot Oil & Gas Limited
CHAR
▲ PositiveCapitalrelevance

Chariot's second Angola transaction doubles its oil production exposure to about 8,000 bpd via economic interests in producing Blocks 14 and 14K.

Energy▲ · 1 stocks

Off-coverage companies 3

Etu EnergiasPrivate▲ Positive
Capitalrelevance

Etu Energias agreed to acquire interests in offshore Angola Blocks 14 and 14K, expanding its position with Chariot's support.

Azule EnergyPrivate± Mixed
relevance

Shell Western Supply and Trading LtdPrivate± Mixed
relevance

© 2026 MarketDXNews