The target forms part of Etu Energias’ ambition to develop into an integrated Angolan energy company, with upstream production at its core and investments planned across the midstream and downstream sectors.

“Our vision is to be an integrated energy company that produces 100,000 bpd,” dos Santos said. “We want to be a strong operator that can make sure that, if Angola needs, we can step in and guarantee production.”

Onshore exploration will play an important role in reaching that target. Etu Energias is focusing on the Lower Congo Basin, including Block CON 4, where the company has spent the past 18 months acquiring seismic data and is preparing to drill its first exploration well.

“We see tremendous potential and see doubling production through the onshore,” dos Santos said.

The strategy also includes expanding Etu Energias’ position in producing offshore assets. In August 2026, the company signed a Sale and Purchase Agreement with Chevron to acquire its interests in Blocks 14 and 14K. A financing agreement was also signed during AOG 2026 between Etu Energias, Shell and Chariot supporting the acquisition.

“We strengthened our position in Block 14 because we believe in the potential of that asset,” dos Santos said. “We believe we can increase production and recover more reserves – not only from current fields but areas nearby.”

Etu Energias plans to connect already-discovered resources around Block 14 to existing infrastructure, supporting incremental production and extending the value of the asset.

Meanwhile, at Block 2/05, the company is already demonstrating the potential of investment in mature acreage. A drilling campaign launched in 2025 comprised three development wells, one exploration well and five workovers. Dos Santos said the company drilled the Espadarte 7ST2 well in May 2026 before drilling an additional well that encountered more than 100 meters of net pay.

“We increased production by 30% with this campaign and we are continuing with further development wells,” he said, crediting Angola’s government and the National Oil, Gas & Biofuels Agency for establishing fiscal terms capable of supporting further investment.

Beyond upstream, Etu Energias plans to establish a presence across all 21 Angolan provinces, targeting a minimum of 50 filling stations. The company is also developing a lubricant factory which dos Santos said is intended to meet 50% of Angola’s domestic market requirements.