**Summary**
Afentra PLC, an upstream oil and gas company focused on Africa, announced the formal approval of its Risk Service Contract (RSC) for offshore Block 3/24 in Angola via Presidential Decree on October 14, 2025. This approval follows the signing of Heads of Terms with Angolas National Agency of Petroleum, Gas and Biofuels (ANPG) in September 2025. Afentra will serve as the operator with a 40% interest in the block, alongside partners Maurel & Prom Angola S.A.S. (40%) and Sonangol E&P (20%).
Block 3/24, covering 545 km², is adjacent to Afentras existing interests in Blocks 3/05 and 3/05A. It contains five established discoveries (Palanca North East, Quissama, Goulongo, Cefo, and Kuma) in the Pinda reservoir, offering short-cycle, low-cost development opportunities tied to existing infrastructure. The block also includes the previously developed Canuku field cluster, which historically produced up to 12,000 barrels of oil per day (bopd). Estimated resources include over 130 million barrels of STOIIP and 400 billion cubic feet of GIIP.
CEO Paul McDade highlighted the approval as a significant milestone, marking Afentras first offshore operatorship and advancing its strategy to build a material production business in Angola. The company plans to conduct technical analysis of historic wells and initiate a phased program to fast-track first oil production. A supporting presentation detailing the strategic and technical opportunities of Block 3/24 is available on Afentras website.
This announcement contains inside information under UK MAR regulations, and technical details were reviewed and approved by Robin Rindfuss, Afentras Head of Sub-Surface.